Gold Terra Resource (TSX-V: YGT; Frankfurt: TX0) announces a targeted drilling program for the 2025/26 season along the Campbell Shear in the Yellorex trend south of the historic Con Mine. The objective is to define additional ounces and infill existing resource areas in the near-surface zone between the surface and approximately 700 meters depth. Gold Terra holds an option until November 21, 2027, to acquire 100% of the Con Mine (the Con Mine Option / CMO) from industry giant Newmont. The terms include the expansion of already defined resources.
Gold Terra: Drilling Targets along the Campbell Shear in the Yellorex Trend
The upcoming program focuses on three clusters: the Yellorex Main Zone (YRX), Yellorex North (YRX-N), and the C17 area south of the main mining level. In Yellorex Main, drilling from the 2021/22 campaigns already established drill spacings of approximately 30 – 50 meters, which account for more than 65% of the 2022 Mineral Resource Estimate (MRE). Yellorex North was explored in 2023 and is not yet included in the 2022 MRE. The C17 area is considered a priority re-verification target: Historical underground drilling from the 2,300’ and 3,100’ levels, among others, yielded 4.79 g/t
According to the company, the planned 2025/26 program will initially focus on near-surface zones to target additional resource potential along the Campbell Shear over at least two kilometers of strike length between Yellorex Main and the adjacent southern section. Based on previous work, Gold Terra sees the opportunity to increase geological continuity through close-spaced infill drilling and broaden the data basis for a future resource update.
Resource Base and Cut-off Sensitivity of the Gold Terra Estimate
The October 2022 MRE for the CMO area (near-surface, south of the Con Mine) was prepared based on a cut-off grade of 3.5 g/t gold. It reports an indicated resource for Yellorex Main of 109,000 ounces at 7.55 g/t gold (821,000 t). In the inferred category, the Yellorex Main, Yellorex North, and Kam Point areas total 1.992 million tonnes at 6.74 g/t gold, or 432,000 ounces, at 3.5 g/t gold. A sensitivity table in the technical report (October 21, 2022) shows the impact of alternative cut-off grades: For example, the indicated ounces range between 85,000 (5.0 g/t) and 141,000 (2.0 g/t), while the inferred resources vary between 350,000 (5.0 g/t) and 697,000 (2.0 g/t) ounces.
Gold Terra’s management is also evaluating scenarios with a lower cut-off (e.g., 2.5 g/t gold) for the upcoming work, within the framework of underground assumptions. The announcement notes that the strong gold price environment could positively influence the valuation of near-surface resources between the surface and 700 meters depth. Operationally, the 2025/26 drilling in Yellorex and Yellorex North is intended to provide infill sections to increase the confidence level of future estimates and extend the resource body along the Campbell Shear structural trend.
Framework Conditions: Con Mine Option, Location Advantages, and History
The Con Mine Option (CMO) grants Gold Terra the right to acquire 100% of the CMO property from a Newmont subsidiary – the option runs until November 21, 2027. The CMO area is immediately adjacent to the south of the historic Con Mine, which, together with the Rycon and Campbell structures, produced a total of 6.1 million ounces of gold between 1938 and 2003 (according to the technical report dated October 21, 2022). Overall, the project is located in the Yellowknife Greenstone Belt, one of Canada’s historically rich high-grade gold camps.
Gold Terra’s Yellowknife Project (YP) comprises 836 km² of contiguous properties north, south, and east of the city of Yellowknife (NWT). Its proximity to the city provides access to all-season roads, air connections, service providers, hydroelectric power, and skilled labor – factors that can facilitate exploration planning and logistics. Strategically, Gold Terra is focusing its current program on those sections of the Campbell Shear where the belt has historically yielded approximately 14 million ounces of gold.
Next Steps for Gold Terra: Infill, Verification, Expansion
For 2025/26, infill drilling in Yellorex Main and verification drilling in Yellorex North are planned to include defined zones in the resource estimate. The C17 area will be systematically tested on a 50-meter grid from the surface to approximately 600 meters vertically to confirm or refute historical underground indications.
Conclusion: By focusing on near-surface targets along the Campbell Shear, Gold Terra aims to broaden the resource base in the Yellorex trend and improve geological continuity between existing blocks. The combination of the option on the CMO property, existing infrastructure near Yellowknife, and a clearly defined drilling plan creates the framework within which the upcoming results will determine further project development.
