Visible Gold Over a Length of 50 Centimeters
With drill hole GTCM23-055, Gold Terra Resource (TSX.V: YGT, FSE: TX0, WKN: A2P0BS) has successfully intersected the gold-bearing Campbell Shear in the area of the old Con Mine over a length of 60 meters. The shear zone was reached at a drilling depth of 2,075 meters, and the hole was advanced to a total depth of 2,135 meters.
Gold Terra Resource designed the drill hole to test for gold mineralization below the underground workings of the decommissioned Con Mine on the Con Mine Option (CMO) property. This property can be acquired from a subsidiary of Newmont Corporation if certain conditions are met. These were established in the corresponding option agreement in the fall of 2021.
Within the 60-meter long Campbell Shear (CS) section, approximately 30 meters within the footwall of the structure exhibit strong shearing, sericite alteration, pronounced quartz veining, and typical 1 to 5% sulfide mineralization including pyrite, pyrrhotite, and traces of sphalerite, stibnite, and arsenopyrite. A mineralized laminated quartz vein intersected at a depth of 2,116 meters contains fine specks of visible gold. Samples from this zone have been sent for laboratory analysis, but their results are still pending.
Visible Gold Over a Length of 50 Centimeters
The drill hole first intersected massive mafic volcanic flows between 1,500 and 2,075 meters. The Campbell Shear structure then begins at 2,075 meters and extends to a depth of 2,135 meters. The area between 2,093 and 2,105 meters contains schist and small sections of quartz and carbonate veins with local sulfide mineralization and sericite alteration.
Between 2,105 and 2,135 meters, the schist is well developed and interspersed with 30 to 50 percent quartz veins. These are between 15 and 50 centimeters wide and show continuous sulfide mineralization (2-5 percent). The drill cores contained visible gold at a depth of 2,116.5 meters, where a 50-centimeter long quartz vein was intersected. In the final part of the borehole between 2,135 meters and the end of the hole at 2,228 meters, massive volcanics mixed with sediments become more prominent again.
Gerald Panneton, the Chairman and CEO, was very pleased with the drilling. He said: “It is a great technical success that we have found a 30-meter section with prominent quartz veins and sulfide mineralization, as well as visible gold. When comparing our intersection with historical intersections in the nearest underground drill holes, such as in the historical hole 7940, we see great similarities with the current intersection about 250 meters above. This is an indication of the continuation of gold mineralization within the shear layer below the former Con Mine, which produced 5.1 million ounces of gold at an average grade of 16 g/t. We will now add further sections from our original borehole within a radius of 50 to 100 meters laterally and eventually up-dip from our successful first intersection.”
