Gold Terra Resource Corp. (formerly TerraX Minerals Inc.) April 22 reported that its winter drill program continues to confirm and expand the gold mineralization at the Sam Otto South target on its Yellowknife City Gold project in Northwest Territories.

The Yellowknife project encompasses 783 square kilometers (302 square miles) of gold prospective land immediately north, south, and east of Yellowknife.

Three deposits at this district-sale property – Crestaurum, Mispickel and Sam Otto – host 11.62 million metric tons of open-pittable inferred resource averaging 1.4 grams per metric ton (523,000 oz) gold.

Additionally, four deposits – Crestaurum, Barney, Mispickel and Sam Otto – host 1.15 million metric tons of underground inferred resource averaging 5.7 g/t (212,000 oz) gold.

All these deposits are found within a 3,000-meter radius.

The recently completed 34-hole program at the Yellowknife project focused on expanding the gold mineralization at Sam Otto Main and Sam Otto South and testing a roughly 400-meter gap between these deposits.

The latest round of results is from 10 holes drilled into Sam Otto South. Gold Terra said all the holes topped gold mineralization, indicating the potential to add to the mineral resource calculated toward the end of 2019.

Highlights from these holes include:

• 9.77 meters of 1.33 g/t gold and 8.24 meters of 0.99 g/t gold in hole TSO20-060.

• 6.3 meters of 1.8 g/t gold in TSO20-067.

• 5.75 meters of 2.5 g/t gold inTSO20-071.

Earlier this year the company released results from eight holes drilled this winter, including one hole that cut 25 meters of 1.39 g/t gold at Sam Otto South, and another that cut 12.9 meters of 1.06 g/t gold and 7.25 meters of 1.63 g/t gold at Sam Otto.

"We are confirming the continued expansion of gold mineralized zones at Sam Otto," said Gold Terra Resource President and CEO David Suda.

The most recent batch of results also extended the hanging wall zone in Sam Otto South over a strike length of 250 meters, which remains open to the north.

Prior to the 2020 winter program, Gold Terra had limited results from the hanging zone except for two 2019 holes drilled 250 meters apart. One of these holes, TSO19-044, cut seven meters of 2.93 g/t gold and the other, TSO19-047, cut 11 meters of 1.24 g/ gold.

Highlights from the 2020 drilling in the South Otto South hanging wall zone include:

• 25 meters of 1.39 g/t gold in hole TSO20-058.

• five meters of 1.08 g/t gold in TSO20-059.

• 4.97 meters of 1.31 g/t gold in TSO20-061.

• 24.5 meters of 0.56 g/t gold in TSO20-066.

• 6.3 meters of 1.8 g/t gold in TSO20-067.

Only a small portion of the hanging wall zone was included in the 2019 resource estimate, providing a new area to add gold to future resource calculations.

"In addition to expanding known mineralization, we are successfully drilling new zones which bolster our confidence in the possibility of adding gold ounces to the next resource update of Sam Otto," said Suda.

Assays are pending from an additional 18 holes drilled this year.

This includes pending results from two deep holes that tested an induced polarization geophysical anomaly coinciding with the interpreted northern extension of the main structures that host the Con and Giant mines, historic operation on the outskirts of Yellowknife that produced a combined 14.2 million ounces of gold.

Relogging and sampling of core from historical drilling has confirmed that the same structure mined at Giant extends at least 4,000 meters north onto Gold Terra's Northbelt property.

Gold Terra said the core for the two deep holes, which has been cut and submitted to labs for assay, displays zones of shearing and alteration similar to the Campbell Shear mineralization of the Con mine.

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Shane Lasley, Publisher

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