The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Gold Terra cuts 14.57m of 1.6 g/t gold along Campbell shear North of 60 Mining News – July 1, 2022
A technician inspects core from drilling at Gold Terra's Yellowknife City Gold project.
A long section of the Campbell shear looking west that includes the past-producing Con gold mine and holes GTCM22-029 and GTCM22-037 drilled by Gold Terra.
Gold Terra Resource Corp. June 27 announced that drilling has tapped deep gold mineralization along the Campbell shear about 1,000 meters south of the past-producing Con Mine in Yellowknife, Northwest Territories.
Hole GTCM22-037, which was drilled near the Yellorex zone on the Con Mine property, cut 14.57 meters averaging 1.6 grams per metric ton gold from a depth of 1,256 meters.
This hole was drilled to test the Campbell shear below historical hole Y-88, which cut 5.27 meters averaging 13.72 g/t gold and above Y-86, another historical hole that cut 4.45 meters averaging 8.32 g/t gold.
"Our drilling program is getting positive results on the Campbell shear at depth, and confirming gold mineralization in the area of historical holes Y-88 and Y-86. At the past producing Con Mine (5 million ounces of gold produced from ore averaging 15 g/t gold), it was typical to go from low-grade gold (approximately 1-3 g/t gold) to high--grade in the span of 10 metres," said Gold Terra Resources Chairman and CEO Gerald Panneton.
So far this year, Gold Terra has completed 8,391 meters of drilling in 15 holes testing the Campbell Shear on the Con Mine property, which the company has an option to acquire full ownership of from subsidiaries of Newmont Corp.
Highlights from assays received so far from the 2022 drilling at Con include:
• 1.5 meters averaging 6.21 g/t gold in hole GTCM22-028.
• 4.55 meters averaging 3.61 g/t gold in hole GTCM22-029.
• 26.5 meters averaging 6.41 g/t gold in hole GTCM22-030.
• 11 meters averaging 8 g/t gold in hole GTCM22-040.
"Our 2022 program will continue to test this area using hole 37 to set up wedges on 50-metre spacing," said Panneton.
The roughly 40,000-meter drill program Gold Terra has slated for 2022 is focused on expanding the Yellowknife City Gold Project resource.
According to a calculation completed last March, the Yellowknife project hosts 24.3 million metric tons of inferred resource averaging 1.54 g/t (1.2 million oz) gold. All of this resource is located on the Northbelt property, which extends north from the city of Yellowknife.
Panneton says Gold Terra is well-financed to continue with the deep drilling program, which will culminate in updating the Yellowknife City Gold Project mineral resource to include the high-grade Yellorex Zone south of the Northwest Territories capital by the end of the year.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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