Encouraging news from Gold Terra Resource (TSXV YGT / Frankfurt TX0): The Canadian gold explorer has proven with its wedge drilling on the Con Mine Option (CMO) property that the Campbell Shear (CS) gold structure is also present at great depth! Between 2,680.5 and 2,703.5 meters of borehole depth, significantly below the known historical mine, Gold Terra has now encountered anomalous gold and silver grades!
The encountered section of the CS initially showed up to 0.5 g/t gold and 12.6 g/t silver. The company considers these results comparable to previous low-grade mineralization sections in the mine that were outside the previously mined high-grade layers.
Furthermore, higher gold grades of up to 7.81 g/t gold over 0.5 meters were also encountered in the footwall of the CS within brecciated pyrite-pyrrhotite quartz veins, similar to those observed in the lowest mining levels of the Con Mine. Originally, Gold Terra encountered the Campbell Shear in 2023 and had then proven, among other things, 12.63 g/t gold over 1.7 meters – about 200 meters below the existing historical underground operation.
Proximity to High-Grade Ore Veins Indicated
Gold Terra’s Chairman and CEO Gerald Panneton is satisfied with what has now been achieved. He explains: “Higher gold values (7.81 g/t Au over 0.5 meters) were intersected in the footwall of the CS within brecciated pyrite-pyrrhotite quartz veins. Borehole GTCM25-056A confirms the gold potential of the CS at more than 600 meters depth below the current depth of the historical Robertson shaft (-1900 meters). The 23-meter section with anomalous gold and silver values is typical of a pinch section of the usually wider or expanding altered CS. Given this technical success and confirmation of the CS potential at depth, we can temporarily suspend deep drilling and focus on our near-surface targets. As the potential of the CS has been confirmed, no further expenditure on surface work is required.”
The aim of the wedge drilling Gold Terra is conducting this year is to continue searching for high-grade gold in the CS, from which 5.1 million ounces were previously mined at an average of 16 g/t, below the historical mining. According to an agreement concluded in 2021, Gold Terra has the right to acquire 100% of the Con Mine Option property from a 100% subsidiary of the world’s largest gold producer Newmont (WKN 853823).
Conclusion: The 23-meter thick mineralized section of the Campbell Shear encountered with borehole GTCM25-056A is typical of a constriction of the CS, which is often observed in the upper areas of the Con Mine – but can also contain high-grade gold in the immediate vicinity, just a few dozen meters from the CS. Therefore, Gold Terra considers the previous drilling within the CS to be extremely promising! The brecciated veins in the footwall, which are typical of the deep-lying high-grade mineralizations in the Con Mine, also show characteristics that indicate the possible proximity to a high-grade ore vein! No wonder, then, that CEO Gerald Panneton considers the potential of the Campbell Shear to be confirmed!
