Visible gold over a length of 50 centimetres

Gold Terra Resource (TSX.V: YGT, FSE: TX0, WKN: A2P0BS) has successfully intersected 60 metres of gold-bearing Campbell shear in the Old Con Mine area with hole GTCM23-055. The shear was reached at a drill depth of 2,075 metres and the hole was drilled to a total depth of 2,135 metres.

Gold Terra Resources designed the hole to test for gold mineralisation below the underground workings of the abandoned Con Mine on the Con Mine Option (CMO) property. This property can be acquired by a subsidiary of Newmont Corporation if certain conditions are met. They were set out in the relevant option agreement in autumn 2021.

Within the 60 metre Campbell Shear (CS) intercept, approximately 30 metres within the footwall of the structure exhibits a strong shear structure, sericite alteration, pronounced quartz veining and typical 1 to 5% sulphide mineralisation including pyrite, pyrrhotite and traces of sphalerite, stibnite and arsenopyrite. A mineralised laminated quartz vein intersected at 2,116 metres depth contains fine flecks of visible gold. Samples from this zone have been sent for laboratory analysis. However, their results are still pending.

Section Showing Campbell Shear intersection

Visible gold over a length of 50 centimetres

The drill hole initially intersected massive mafic volcanic flows between 1,500 and 2,075 metres. From 2,075 metres the Campbell shear structure begins. It extends to a depth of 2,135 metres. The area between 2,093 and 2,105 metres contains shales and small sections of quartz and carbonate veins with local sulphide mineralisation and sericite alteration.


Between 2,105 and 2,135 metres, the shale is well developed and 30 to 50 per cent interbedded with quartz veins. They range from 15 to 50 centimetres wide and have sulphide mineralisation (2-5 per cent) throughout. Visible gold was encountered in the drill core at 2,116.5 metres depth when a 50 centimetre quartz vein was intersected. In the final part of the hole between 2,135 metres and the end of the hole at 2,228 metres, massive volcanics mixed with sediments are again more prominent.

Gerald Panneton, the chairman and CEO, said he was very pleased with the drilling. He said, “It is a great technical success that we have found a 30 metre intercept with prominent quartz veins and sulphide mineralisation as well as visible gold. When comparing our intercept with historic intercepts in the nearest underground holes, such as historic hole 7940, we see great similarities with the current intercept some 250 metres above. This is indicative of the continuation of gold mineralisation 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 intersections from our origin hole in a radius of 50 to 100 metres laterally and eventually up-dip from our successful first intersection.”

Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice and do not constitute an offer to sell the stock(s) discussed or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising / journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. There is no contractual relationship between GOLDINVEST Consulting GmbH and its readers or the users of its offers, because our information refers only to the company, but not to the investment decision of the reader.

The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research, however, any liability for financial loss or the content guarantee for timeliness, accuracy, adequacy and completeness of the articles offered here is expressly excluded. Please also note our terms of use.

Pursuant to §34b WpHG and §48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH can hold shares of Gold Terra Resource and therefore a conflict of interest may exist. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, GOLDINVEST Consulting GmbH is remunerated by Gold Terra Resource for reporting on the company. This is another clear conflict of interest.

Latest News

Latest Videos