- Gold Terra Resource Corp. (YGT) has returned a strong gold recovery from the Yellowknife City Gold Project and signed a new $8 million option agreement
- Its total gold recovery was 92.10 per cent in high-grade gold composite sample
- It may use the project to produce sellable concentrates or produce gold on site
- Gold Terra signed an option agreement with two subsidiaries of Newmont Corporation
- It can purchase Miramar Northern Mining Ltd which includes the Con Mine
- Gold Terra Resource Corp. (YGT) is unchanged trading at $0.16 per share as of 11:47 a.m. ET
Gold Terra Resource (YGT) has returned a strong gold recovery from the Yellowknife City Gold Project and signed a new $8 million option agreement.
The company stated its total gold recovery was 92.10 per cent in high-grade gold composite samples. It is confident in its ability to use the project to produce sellable concentrates or produce gold on-site.
According to Gold Terra, the Yellorex zone was drilled at shallow depths. Test work was performed for drill hole GTCM22-030 samples, designed to cross the zone obliquely to obtain a representative sample of the deposit.
The company shared it intends to return to the Yellorex area next winter, or sooner, once the extended all year road is approved south of the Con Mine.
In other news, Gold Terra signed a definitive option agreement with two subsidiaries of Newmont Corporation. Gold Terra has the option to purchase Miramar Northern Mining Ltd which includes the Con Mine, and nearby areas.
Gold Terra has agreed to a minimum of $8 million in exploration expenditures over four years, complete a pre-feasibility study of mineral resources, and a minimum of 1.5 million ounces in all categories.
Gold Terra Resource Corp. (YGT) is unchanged trading at $0.16 per share as of 11:47 a.m. ET.