Important Technical Success
Gold Terra Resource (TSX.V: YGT, FSE: TX0, WKN: A2P0BS) reports a major success, as it has managed to confirm high-grade mineralization on the Con Mine Option property. The zone 200 meters below the historical mine in the Campbell Shear area was tested. The drill bit intersected a 1.7-meter section with 12.93 g/t gold.
With drill hole GTCM23-055, Gold Terra Resource achieves an important technical success, as it managed to provide evidence that the gold mineralization continues below the historical Con Mine, indicating potential for future mining activities on the property that is currently still owned by a Newmont subsidiary.
Gold Terra Resource has the opportunity to fully acquire the property, provided the contractually specified exploration services are performed. The company is making good progress in this endeavor, as the results of the drill hole confirm their own interpretation of the geology at the Con Mine, and confidence is growing that more gold can be found in deeper regions.
Gold Terra Resource Finds Typical Features of the Campbell Shear Structure
This assumption is supported by the presence of quartz veins and alterations intersected by the drill. While the mineralized section is relatively narrow, what’s more important at the moment is that it is typical of the variance of the Campbell Shear structure in terms of width and gold content.
The Campbell Shear was intersected at a drill hole depth of 2,075 to 2,137.5 meters over a total length of 62.5 meters. This confirmed the continuity of this significant structure below the deepest level of the old mine, with the presence of a substantial shear structure with impressive thicknesses. Approximately 30 meters of the Campbell Shear within the footwall of the structure are moderately to strongly sheared and contain intermittent zones with pronounced smoky quartz veins and pyrite, pyrrhotite, sphalerite, arsenopyrite, and stibnite mineralizations, as well as high-grade gold.
A quartz vein intersected at a depth of 2,116 meters contained fine specks of visible gold. Assay results include 2.93 g/t gold over 8.2 meters from 2,115.8 to 2,124 meters, including the previously reported 12.93 g/t gold over 1.7 meters from 2,115.8 to 2,117.5 meters. Within this zone, gold mineralization increased to 30 g/t over a length of 50 centimeters between 2117 and 2117.5 meters.
Further Wedges to be Drilled
The total strike length can currently be assumed to be one kilometer, which opens up potential for additional ounces of gold at depth near the bottom of the Robertson Shaft on the historical mine. This shaft is at a depth of 1,900 meters.
The next exploration steps now include planning further wedge drilling. As a first step, a wedge will be drilled from the existing borehole, targeting the Campbell Shear about 75 meters north of the first intersection. Further wedges are planned to be drilled from this main borehole in the coming months.
