Gold Terra Resource Gains Renowned Mining Engineer

Gold Terra Resource (TSX.V: YGT, FSE: TX0, WKN: A2P0BS) is expected to resume its drilling activities at the Con Mine at the beginning of next week. The plan is to complete the drilling program that began last year, with a total length of 5,769 meters. An initial deep drill hole was already completed in October, intersecting the Campbell Shear gold structure about 200 meters below the Robertson Shaft of the Con Mine.

This drilling was a great success for Gold Terra Resource, as drill hole GTCM23-055 provided evidence that the Campbell Shear gold structure continues below the historic Con Mine. GTCM23-055 had a total length of 2,228 meters from the surface and intersected the Campbell Shear about 200 meters below the Robertson Shaft, which ends at a depth of about 1,900 meters.

A 1.7-meter section with excellent grades of 12.70 g/t gold was intersected. For Gold Terra Resource, this confirmed the essential assumption that the mine’s potential is not yet exhausted, but that further attractive gold deposits are located below the historic mine infrastructure. There, according to current knowledge, the Campbell Shear zone is still open in all directions.

Last Year’s Drill Hole Serves as Master Hole

Finding a section with 12.70 g/t gold over 1.7 meters is certainly pleasing, but of course not sufficient. For Gold Terra Resource, the task this year is therefore to determine the exact course of the ore body and its size more precisely with further drilling. The first work on this is scheduled to begin next week.

Conducted by the drilling company Foraco, Gold Terra Resource will use drill hole GTCM23-055 as a master hole for further drilling. This means that not every new drill hole needs to be drilled the entire distance from the surface to the Campbell Shear area, but branches can be drilled from GTCM23-055, penetrating only those deeper layers that are truly of interest. As the first branch, a lateral wedge will be drilled targeting the Campbell Shear about 75 meters north of the first high-grade gold intersection.

The Historic Mine Infrastructure Reduces Development Risk for Gold Terra Resource and Significantly Shortens the Path to Production

For Gold Terra Resource and its shareholders, exciting times are beginning, as the potential is enormous. The company controls over 70 km of the Campbell Shear structure north and south of the Con Mine option. This suggests not just a single mine, but an entire mining district. The last mineral resource update from September 2022 revealed that there are several high-grade satellite zones that could potentially contribute to a larger mill operation.

The charm of this project lies not only in its size and high-grade mineralizations but especially in the existing infrastructure. If Gold Terra Resource succeeds in proving in the coming months that there are additional economically mineable ore bodies below the historic mine, these would be comparable to near-surface gold finds made 200 to 300 meters below the surface, thanks to the existing shafts and tunnels.