Mining
Monday, June 10th, 2024 2:02 pm EDT
Key Points
- Shareholder Approvals and Elections: All matters proposed to shareholders, including the election of five directors and the reappointment of the auditor, were approved at Gold Terra’s Annual General and Special Meeting on June 6, 2024.
- Con Mine Drilling Update: Drilling at the Con Mine is progressing well, targeting high-grade gold mineralization in the Campbell Shear. The drill hole GTCM24-056 is at a depth of 2,526 meters and expected to intersect the Campbell Shear between 2,600 and 2,650 meters.
- Gold Terra’s Yellowknife Project: The Yellowknife Project (YP) encompasses 918 sq. km and includes the prolific Campbell Shear structure. The project’s goal is to re-establish Yellowknife as a premier gold mining district in Canada, with significant gold mineralization zones identified and multiple targets remaining to be tested.
VANCOUVER, BC / ACCESSWIRE / June 10, 2024 / Gold Terra Resource Corp. (TSX-V:YGT)(Frankfurt:TX0)(OTCQB:YGTFF) (“Gold Terra” or the “Company”) announces that all matters submitted to the shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular which were mailed to shareholders in connection with the meeting, were approved at the Company’s Annual General and Special Meeting held in Vancouver, BC, on June 6, 2024.
The shareholders elected Gerald Panneton (Chair), Patsie Ducharme, Laurie Gaborit, Paul Bonneville and Hellen Siwanowicz as directors of the Company for the forthcoming year.
Shareholders approved the reappointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as the auditor of the Company for the ensuing year with their remuneration to be fixed by the board of directors.
Con Mine Option Property Drilling Update
Drilling is progressing well with drill hole GTCM23-056 targeting high grade gold mineralization in the Campbell Shear beneath the former Con Mine underground mine workings. Hole GTCM24-056 is currently at a downhole depth of 2,526 metres and on a stable trajectory. The drillhole is showing a crackle calcite veining texture which can be indicative of proximity to a shear system, as seen elsewhere in the camp. The Campbell Shear is anticipated to be intersected at approximately 2,600 to 2,650 metres depth.
The current drill program at the Con Mine is aimed at increasing our current Indicated and Inferred resource (MRE October 2022) near surface and south of the Con Mine, targeting the prolific Campbell Shear structure which produced 14 Moz of gold at an average grade of 16-22 g/t Au. The current drilling is targeting below the existing underground workings, where the potential exists to add significant free milling high grade ore. The Con Mine property has excellent infrastructure including the Robertson shaft, water treatment plan (2015), warehouse and offices, etc. The Con Mine closed in 2003, with approximately 650,000 ounces at 11-12 g/t Au in historic reserves and combined resources. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or mineral reserves.
For current resource estimates please refer to the October 21, 2022 technical report, titled “Initial Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada” with an effective date of September 2, 2022, by Qualified Person, Allan Armitage, Ph. D., P. Geo., SGS Geological Services, which can be found on the Company’s website at https://www.goldterracorp.com and on SEDAR at www.sedarplus.com.
The technical information contained in this news release has been reviewed and approved by Joseph Campbell, Chief Operating Officer, a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Gold Terra
The Yellowknife Project (YP) encompasses 918 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific Campbell Shear, where approximately 14 Moz of gold has been produced, (refer to Gold Terra Oct 21, 2022, Technical Report) and most recently on the Con Mine Option (CMO) property claims immediately south of the past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).
The YP and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts the former-producing high-grade Con and Giant gold mines. The Company’s exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
Visit our website at www.goldterracorp.com.
For more information, please contact:
Gerald Panneton, Chairman & CEO
gpanneton@goldterracorp.com
Mara Strazdins, Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
strazdins@goldterracorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
