Four drill rigs, new permits, and focus on the Campbell Shear: Gold Terra Resource advances exploration in the historic Yellowknife gold camp.
Gold Terra Resource launches winter program with four drill rigs
Gold Terra Resource (TSX-V: YGT; Frankfurt: TX0; OTCQX: YGTFF) has commenced its 2026 winter drilling program on the company’s Yellowknife Project in Canada’s Northwest Territories. A total of four (!) diamond drill rigs will be used. The initial focus will be on the Con Mine Area in the southern part of the project area, followed later in the winter by the Northbelt property to the north.
In the first phase of the program, Gold Terra Resource will concentrate on the Yellorex Zone, which runs along the productive Campbell Shear immediately south of the historic Con Mine. The goal of the drilling is to expand and upgrade the quality of the known gold mineralization there. In addition, nearby targets along the Campbell Shear corridor between Yellorex and the former Con Mine will be tested to better define the structural relationship of the mineralized zones.
Drilling on the Northbelt property is expected to commence in January, as soon as ice conditions allow safe access. The focus there will be on high-grade gold zones, including the Mispickel area, where drill hole GTWL22-0014 intersected 31.89 g/t gold over 3 meters, including 69.4 g/t gold over 1 meter, near surface (see news release dated August 25, 2022). The 2026 winter program is designed to extend known high-grade structures, test new targets, and lay the foundation for future resource growth directly north of the city of Yellowknife.
Permits and security: Framework for five years of exploration
In parallel with the start of drilling, Gold Terra Resource announces that it has received all necessary permits to continue work on the Yellowknife Project in a planned manner over the coming years. The Mackenzie Valley Land and Water Board has granted the company a renewed Type A land use permit (MV2025C0015), which will come into effect on January 17, 2026, and will be valid for five years. This can be extended for a further two years. The permit covers, among other things, diamond drilling, the construction and use of winter roads, camp operations, and phased reclamation measures.
In addition, Gold Terra Resource received a renewed Type B water license (MV2025L8-0006), also valid from January 17, 2026, for a period of seven years. It regulates water extraction and wastewater disposal in connection with exploration and drilling activities and is subject to defined environmental requirements.
In the course of the permit renewal, the company has increased its environmental collateral with the Government of the Northwest Territories. Collateral totaling CAD 198,000 and CAD 36,450 has been deposited for the land use permit and water license, respectively. These amounts cover the planned activities with up to four drill rigs operating simultaneously and are intended to ensure that all interventions can be properly dismantled and recultivated at the end of the exploration phase.
Yellowknife Project: High-grade gold camp with infrastructure advantages
Gold Terra Resource’s Yellowknife Project (YP) covers approximately 836 square kilometers of contiguous land immediately north, south, and east of the city of Yellowknife in the Northwest Territories. Through several transactions, the company now controls a large portion of one of Canada’s six major high-grade gold camps. Its proximity to the provincial capital offers clear logistical advantages: year-round road access, air connections, service providers, hydroelectric power, and a pool of skilled workers.
Geologically, the project is located in the Yellowknife greenstone belt, which extends for nearly 70 kilometers along a powerful mineralized shear system. This system is home to the former high-grade Con and Giant mines, which were among Canada’s most important gold producers for decades.
Gold Terra Resource is focusing its current drilling program in particular on the Campbell Shear, along which, according to historical data, approximately 14 million ounces of gold were mined. Another focus is the CMO claims immediately south of the decommissioned Con Mine. Between 1938 and 2003, this mine, together with the adjacent Rycon and Campbell structures, produced a total of approximately 6.1 million ounces of gold.
Gold Terra Resource’s exploration programs to date have already identified several zones of significant gold mineralization on the project. However, numerous structural targets along the shear system have not yet been systematically drilled. This underscores the company’s strategic objective of re-establishing Yellowknife as one of Canada’s leading gold mining districts.
Outlook: Winter 2026 as the next phase of value creation
With the 2026 winter drilling program underway, long-term permits now secured, and a clear focus on the Campbell Shear and Northbelt structures, Gold Terra Resource is laying the groundwork to significantly expand the project data base in the Yellowknife area. The results of ongoing drilling in the Con Mine area should help to better delineate the mineralization in the Yellorex Zone and potentially enable future resource updates.
At the same time, the planned resumption of drilling in the Mispickel area and other zones of the Northbelt property offers the opportunity to define additional high-grade structures. Overall, the winter program could thus provide important building blocks for the further development of the Yellowknife Project – in an environment where the price of gold and interest in the Canadian gold exploration sector remain high.
