Gold Terra Resource Corp (TSXV: YGT) this morning announced a “high-grade” assay from a single hole at its recently concluded drilling program on the Yellorex zone at the Con Mine property in Northwest Territories. The intersection, made by hole GTCM21-022, hit 19.74 g/t gold over 5.44 metres.
The Con Mine property was recently optioned from Newmont Canada FN Holdings and Miramar Northern Mining. The 2021 drilling program at the site, composed of 26 holes and covered 12,687 metres, was concluded on December 18, 2021
The drill hole also intersected a wider assay of 4.16 g/t gold over 11.23 metres, including 10.12 g/t gold over 3.73 metres.
“The assay results from hole GTCM21-022 confirm our geological model of high-grade mineralized zones within the Campbell Shear,” said CEO Gerald Panneton. “With our 2021 drilling program, all holes were designed to test the Yellorex Zone along strike and at depth and the results have successfully extended the strike length and depth extension.”
The firm is still waiting for the assay results of the remaining four drill holes of the program.
A drilling program in 2022 covering 40,000 metres is said to be in the works in 2022, targeting “to add to the company’s current 1.2 million inferred ounces” at its Yellowknife City gold project.
Gold Terra Resources last traded at $0.245 on the TSX Venture.
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