05:48:03 EST Mon 25 Jan 2021
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Gold Terra Resource Corp
Symbol YGT
Shares Issued 181,328,637
Close 2021-01-12 C$ 0.305
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Gold Terra drills five m of 9.03 g/t Au at Yellowknife

2021-01-13 08:17 ET - News Release

Mr. David Suda reports


Gold Terra Resource Corp. has provided assays for nine holes at the high-grade Crestaurum gold deposit on its 100-per-cent-owned Yellowknife City gold (YCG) project near the city of Yellowknife, Northwest Territories. The Crestaurum gold deposit is an advanced exploration target located within the same large mineralized system suite as the past-producing Con and Giant mines which have produced a total of 14 million ounces of gold.

The nine holes totalling 1,062 metres tested the main Crestaurum shear structure at shallow depths across 900 metres of strike length, and also tested high-grade secondary shears and splays in the hangingwall and footwall of the main shear.

President and chief executive officer David Suda stated: "The Crestaurum deposit is likely an extension of the Con shear zone which produced approximately one million ounces of gold at the past-producing Con mine. Two thousand twenty drilling at the Crestaurum deposit identified multiple vein systems from near surface to approximately 250 metres below surface. With these results, we are confident that the Crestaurum could potentially be host to a substantial open-pit scenario in the future. In 2021, we will continue to focus on expanding our YCG resource and resume drilling on our highest priority target, the Campbell shear, immediately south of the past-producing Con mine (five million ounces). Both the Campbell shear and the Con shear stratigraphy are exceptional due to the high-grade nature of their past-producing gold deposits."

Drilling highlights

Hole GTCR20-104 intersected 9.03 grams per tonne Au over five metres including 23.7 g/t Au over 1.0 metre within a mineralized shear zone containing quartz veins with visible gold. The hole is located approximately 40 metres up dip and 25 metres to the south from GTCR20-103 which intersected 9.60 g/t over 4.0 m (see news release dated Dec. 9, 2020). In addition, hole GTCR20-105 intersected 5.84 g/t Au over two metres approximately 75 metres up dip of GTCR20-104.

Three holes were drilled in an area around the exploration shaft sunk in 1946, an area previously believed to be unmineralized. Hole GTCR20-102 had a narrow low-grade intersection of 2.66 g/t Au over 0.80 metre, hole GTCR20-106 was designed to test both the main shear and a hangingwall vein and intersected 3.23 g/t Au over 0.75 metre in the hangingwall vein and 1.75 g/t Au over 2.70 metres in the main shear. Hole GTCR20-107 intersected 2.31 g/t Au over 4.10 metres, including 10.55 g/t Au over 0.80 metre.

Three drill holes were drilled across approximately 200 metres of strike length to intersect the main shear at shallow depths above current high grade in the South shoot area. These holes were designed to increase the near-surface mineralization available for future open pitting. Hole GTCR20-108 interested 8.19 g/t Au over 1.95 metres and GTCR20-109 intersected 3.43 g/t over 3.90 metres, including 7.11 g/t Au over 1.75 metres. Both holes also intersected significant mineralization in the footwall of the main shear, including 2.53 g/t Au over 2.75 metres in hole GTCR20-109. Hole GTCR20-111 failed to intersect significant mineralization in the main shear and had two gram-level assays in the hangingwall to the shear.

Hole GTCR20-110 was drilled south of the Daigle fault to determine the location of the southern extension of the Crestaurum shear beyond the fault. The shear structure was successfully intersected but was low grade (0.86 g/t Au over 3.0 metres).

Assays are pending for hole GTCR20-112.

Technical appendix

This news release reports the assay results from nine drill holes totalling 1,062 metres from which 264 core samples were assayed. Assay results range from non-detectable gold to a highest assay of 23.7 g/t Au. The company inserts certified standards and blanks into the sample stream as a check on laboratory quality control (QC). Drill core samples are cut by diamond saw at Gold Terra's core facilities in Yellowknife. A halved core sample is left in the core box. The other half core is sampled and transported by Gold Terra personnel in securely sealed bags to ALS preparation laboratory in Yellowknife. After sample preparation, samples are shipped to ALS's Vancouver facility for gold analysis. Gold assays of over three g/t are reassayed on a 30-gram split by fire assay with a gravimetric finish. Samples with visible gold are additionally assayed using a screen metallics method. ALS is a certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples are reported.

Drill holes were drilled at right angles to the zones of mineralization and dip angles of holes were designed to intersect the zones as close to normal as possible. Zones reported here are interpreted to be 90 to 100 per cent of true thickness.

The technical information contained in this news release has been reviewed and approved by Joseph Campbell, chief operating officer, a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.


Drill Hole       From (m)       To (m) Interval (m)     Au (g/t)

GTCR20-102          39.3         40.3         1.00         1.98
                    95.9         96.7         0.80         2.66
GTCR20-104         90.31        95.31         5.00         9.06
GTCR20-105            86           88         2.00         5.85
incl.                 87           88         1.00        11.55
GTCR20-106          40.5        41.25         0.75         3.23
                   167.3          170         2.70         1.75
incl.              167.3          168         0.70         5.37
GTCR20-107        102.95       107.05         4.10         2.31
                  102.95       103.75         0.80        10.55
GTCR20-108         32.85         34.8         1.95         8.19
                      40         41.4         1.40         0.70
                   43.55        44.45         1.00         1.28
GTCR20-109            19         22.9         3.90         3.43
incl.              21.15         22.9         1.75         7.11
                    31.4        34.15         2.75         2.53
                   37.35           39         1.65         0.75
GTCR20-110         91.52        92.52         1.00         1.06
                     169          172         3.00         0.86
GTCR20-111          46.7        47.76         1.06         1.30
                   53.65        54.65         1.00         0.93

About Gold Terra's Yellowknife City gold project

The YCG project encompasses 800 square km of contiguous land immediately north, south and east of the city of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the city of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydroelectric power and skilled tradespeople.

The YCG lies on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that host the former-producing high-grade Con and Giant gold mines. The company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

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