Gold Terra Resources has announced promising results from its deep drill hole targeting the Campbell Shear beneath the Con Mine workings, with significant findings including the intersection of the Con Shear and the discovery of new gold mineralization in the hanging wall granite host. According to Gerald Panneton, Gold Terra Resources' Chairman and CEO, the drill hole intersected the Con Shear from 1366 to 1405 meters, revealing a secondary shear structure and new gold mineralization discoveries. The gold mineralization reaches up to 13.90 g/t Au over 0.60 meters in the hanging wall granite host of the Con shear at multiple depths along the drill hole.
Panneton highlighted the geological complexity and mineralization potential of the area, noting that the intersection of the Con Shear is characterized by intense silicification of mafic volcanic and intermediate intrusive rocks, with a prominent quartz vein present along the intermediate intrusive-mafic volcanic contact. Numerous quartz veins with pyrite mineralization were observed within the strongly silicified and sheared zone, indicating significant mineralization potential. These findings underscore the prospectivity of the Campbell Shear, which has been a focus of the company's exploration efforts.
Building on these results, Gold Terra Resources' 2024 deep drilling program aims to expand the initial Mineral Resource Estimate from September 2022, which identified 109,000 Indicated ounces of contained gold and 432,000 Inferred ounces of contained gold between surface and a depth of 400 meters below surface along a 2-kilometer corridor of the Campbell Shear. The program, detailed in company announcements available at https://goldterracorp.com, is designed to test deeper extensions of known mineralization and explore new zones, potentially increasing the resource base and enhancing the economic viability of the project.
With these discoveries, Gold Terra Resources is positioned to unlock further value within its exploration portfolio, as the intersection of high-grade mineralization in the hanging wall and the Con Shear suggests additional untapped resources. The company's proactive approach to exploration, as outlined in technical reports at https://goldterracorp.com/projects, reflects its commitment to advancing initiatives and maximizing shareholder value. As drilling continues, these results could lead to revised resource estimates and strengthened project economics, reinforcing the importance of deep exploration in mature mining districts like the Yellowknife Gold Camp.
