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Gold Terra Announces Initial Mineral Resource Estimate: 109,000 Gold Ounces Indicated and 432,000 Gold Ounces Inferred on the Con Mine Option Property, NWT
VANCOUVER, BC / ACCESSWIRE / September 7, 2022 / Gold Terra Resource Corp. (TSXV:YGT)(Frank...
About this update from Gold Terra Resource Corp.
[{"type":"text","content":"Gold Terra Announces Initial Mineral Resource Estimate: 109,000 Gold Ounces Indicated and 432,000 Gold Ounces Inferred on the Con Mine Option Property, NWTVANCOUVER, BC / ACCESSWIRE / September 7, 2022 / Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) (\"Gold Terra\" or the \"Company\") is pleased to announce the initial Mineral Resource Estimate (\"MRE\") on the Con Mine property, which is under option from subsidiaries of Newmont Corporation and acquirable by the Company upon fulfillment of certain conditions set out in the option agreement (the \"Con Mine Option Property\"), and located adjacent to the Company's 100% owned Yellowknife City Gold project (the YCG Project\") in the Northwest Territories.The Company's initial MRE on the Con Mine option Property is comprised of an underground mineral resource of 109,000 gold ounces in the Indicated category and 432,000 ounces of gold in the Inferred category (see Table below). In addition, the Company has 1.2 Moz inferred resources (see March 31, 2021 Technical Report) on their adjacent 100% owned YCG property. This extensive land package is close to the City of Yellowknife with all its extensive existing infrastructure.Mineral Resource Estimate HighlightsCon Mine Option Property initial MRE:Underground Indicated Mineral Resource of 0.45million tonnes averaging 7.55 g/t for 109,000 ounces of contained goldUnderground Inferred Mineral Resource of 2.0 million tonnes averaging 6.74 g/t for 432,000 ounces of contained goldChairman and CEO, Gerald Panneton, commented, \"This initial mineral resource estimate (MRE) on the Con Mine Option Property represents a measuring stick of our progress toward satisfying one of the requirements of the option agreement with Newmont, namely delineating a potential of a minimum of 1.5 million ounces of gold in all categories. This initial MRE confirms the significant high-grade potential of this project as it remains open for further expansion in all directions, and along its 6-kilometre-long structure. The Con Mine produced more than 5 million ounces of high-grade gold (16 g/t Au) from the Campbell Shear structure on 2 kilometres of strike length alone. We strongly believe that additional drilling along strike and at depth will continue to expand the current MRE, as all the surface drilling so far has been very successful. The Company...