Gold Terra Resource Group Strikes Gold In Yellowknife — What's Next?

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Gold Terra Resource Corp. YGT TX YGTFF is a junior gold exploration company that has assembled what it believes to be a highly prospective district scale land position on the doorstep of the City of Yellowknife in the Northwest Territories.

Gold Terra’s Yellowknife project encompasses 800 square kilometers of contiguous land that is close to vital infrastructure, including all-season roads, air transportation, service providers, hydroelectric power and skilled tradespeople. The district-size property lies on the prolific Yellowknife greenstone belt that has produced over 14 million ounces of gold in its lifetime. 

Through its Yellowknife project, Gold Terra is on track to re-establishing Yellowknife as one of the premier gold mining districts in Canada. 

Bites By Numbers

Gold Terra reports: 

• Current mineral resource of 1.2 million inferred ounces of gold
• Objective of the drilling program is to delineate additional ounces to add to the current mineral resource
• November  2021 – Executed Option to purchase the past producing Con Mine (1938-2003 produced 6.1 Moz @ 15-20 g/t Au) from Newmont
• $1.5M Strategic Investment with Newmont 
• 2021 Drill program - completed 12,691 metres in 26 holes targeting the Campbell Shear over a strike length of 3 kilometres immediately south of the former Con Mine
• GTCM21-022 Intersected two high-grade zones at Yellorex: 19.74g/t gold over 5.44 metres and 10.12 g/t over 3.73 metres 
• 2022: Commenced  drilling of approximately 40,000 meters on the Campbell Shear south of the Con Mine
• The Company is planning a resource update at the end of 2022
• 2023: Potential to launch pre-feasibility and baseline studies based on current drilling success
• 2024: Potential to create a feasibility study, potentially moving into a mining development stage based on positive drilling success

Gold Terra tells Benzinga that the Yellowknife City Gold Project is advancing with positive drilling results, local support and the advantage of being close to good infrastructure. 

The company hopes the project will support the local economy as the resource sector has been one of the main driving forces for the Yellowknife economy.

For more on the Gold Terra story, click here. 

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

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