October 24, 2022, Vancouver, BC – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTC QX: YGTFF) (“Cold Terra” or the “Company” – https://www.commodity-tv.com/ondemand/companies/profil/gold-terra-resource-corp/) is pleased to announce that it has completed a technical report in accordance with National Instrument 43-101 – Disclosure Standards for Mineral Projects (“NI 43-101”) Con Mine Option (“CMO”) has been elected by a subsidiary of Newmont Corporation on the property, which may be acquired by the Company subject to the satisfaction of certain conditions set forth in the CMO Agreement. A company press release dated September 7, 2022 reported.
Technical report dated October 21, 2022, entitled “Preliminary Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada”. , Canada) with an effective date of September 2, 2022 can be found on the Company’s website at https://www.goldterracorp.com and on SEDAR www.sedar.com Must see. The mineral resource estimate of the CMO property includes three gold deposits – Yellowrex Main, Yellowrex North and Com Point. The CMO property is adjacent to the Company’s 100% owned Yellowknife City Gold Project (“YCG Project”) in the Northwest Territories, which provides mineral resource estimates for the Crastaurum, Barney, Sam Otto and Mispickel deposits.
Mineral Resource Appraisal Highlights
Preliminary Mineral Resource Estimate for Khan Mine Option Property:
- The underground has a mineral resource of 0.45 million tonnes averaging 7.55 g/t Au per 109,000 ounces of gold.
- An underground inferred mineral resource of 2.0 million tonnes averages 6.74 g/t Au for 432,000 ounces of gold.
In addition to CMO’s mineral resource estimate, the company has inferred 1.2 Moz of mineral resources for the Crestarum, Barney, Sam Otto and Mispickel deposits (see March 2022 Technical Report) in the nearest 100% YCG scheme. These mineral resource estimates are also included in the current technical report. This extensive land package is located near the town of Yellowknife with its extensive infrastructure.
Define the potential for additional high-grade ounces with Campbell Shear
The company plans a winter 2023 drill program to test all zones identified in the initial mineral resource estimate at depth and strike south of the mine. With budget permitting, the company will test the Campbell shear at a depth of 2000 meters below the surface. Possible training goals are shown in Figure 1:
Explanation 1: Potential to define additional high grade ounces with Campbell shear at depth
Mineral Resource Appraisal for CMO Property and YCG Project by Dr. Alan Armitage, B.Geo. An independent qualified person as defined by NI 43-101, prepared by SGS.
Dr. Alan Armitage and Joe Campbell, P.Geo., Gold Terra’s Chief Operating Officer, qualified persons as defined by NI 43-101, have reviewed and approved the technical information contained in this news release.
About Gold Terra
The YCG project covers an area of 800 square kilometers 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 largest high-grade gold deposits in Canada. Located 10 kilometers from downtown Yellowknife, YCG is close to key infrastructure including year-round roads, air links, service providers, hydroelectric plants and skilled tradespeople. Gold Terra has been focusing its exploration activities on the rich Campbell Shear, which produced 14 mos gold, and on the Khan Mine option property claims south of the recently produced Khan Mine (1938-2003).
The YCG is located in the prolific Yellowknife greenstone belt and covers nearly 70 kilometers along a mineralized cut system that has hosted past high-grade Khan and Giant gold mines. Supporting the Company’s goal of reclaiming Yellowknife, one of Canada’s premier gold mining districts, the Company’s exploration programs have successfully identified significant zones of gold mineralization and several untested targets.
Visit our website www.goldterracorp.com.
For more information, contact:
Gerald Panneton, President and CEO
Mara Strastins, Head of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
Swiss Resource Capital AG
Jochen Stager & Mark Olinger
Neither the TSX Venture Exchange nor its regulatory service provider (as defined in the policies of the TSX Venture Exchange) assumes responsibility for the adequacy or accuracy of this news release.
Information on mineral resource estimates
Mineral resources without mineral reserves do not demonstrate economic viability. Therefore, investors are cautioned not to assume that all or any portion of an inferred mineral resource can be economically mined. It cannot be assumed that all or any part of the “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” will ever be developed to a higher category. Mineral resource estimates herein may be subject to legal, political, environmental or other risks that could affect the potential development of those mineral resources. Additional information on key assumptions, parameters, methodologies and substantive risks associated with the above will be provided in the published technical report.
A cautionary note for investors in the US
The Company prepares its disclosures in accordance with the requirements of Canadian securities laws, which differ from the requirements of U.S. securities laws. The terms used in this news release to denote mineral resources are defined in accordance with NI 43-101, in accordance with the guidelines set forth in the CIM Definition Standards for Mineral Resources and Mineral Reserves published by the Canadian Institute of Mining, Metallurgy and Petroleum Council. In the version currently valid on May 19, 2014 (“CIM Standards”). The U.S. Securities and Exchange Commission (“SEC”) has adopted amendments to its disclosure rules (“SEC Modernization Rules”) that, effective February 25, 2019, modernize mineral asset disclosure requirements for issuers of SEC-compliant securities. : Registered under the US Securities Exchange Act of 1934. As a result of the passage of the SEC Modernization Rules, the SEC has defined estimates of “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” as substantially similar to the corresponding CIM standards. In addition, the SEC has revised the definitions of “proved mineral reserves” and “probable mineral reserves” to be substantially consistent with the relevant CIM standards.
Although the aforementioned regulations are “substantially similar” to the corresponding definitions under the CIM standards, US investors are cautioned that there are differences between the definitions under the SEC Modernization Rules and the CIM standards. Accordingly, if the Company were to complete Mineral Resource Estimates, there can be no assurance that the Mineral Resources reported by the Company will appear as Measured Mineral Resources, Indicated Mineral Resources and Inferred Mineral Resources in accordance with NI 43-101. In accordance with the standards of the SEC Modernization Rules, Canadian securities laws, estimates of “inferred mineral resources” may not be used as the basis for feasibility or other economic studies except as permitted in certain circumstances by NI 43-101.
Warning statement regarding forward looking information
Certain statements and information in this press release constitute “forward-looking information” within the meaning of applicable securities laws (“forward-looking information”).Information to look forward to“). These forward-looking information can generally be identified by the use of forward-looking words such as “projects”, “expects” or “does not expect”, “expects”, “budget”, “planned”, “. Estimates”, “forecast”, “intend”, “expects” or “does not expect”, or “believes” or variations of words and phrases or statements such as “will”, “may”, “could” or certain actions, events, conditions or results. , “will”, “can” or “be held”, “occurs” or “achieves” or their negative connotations.
All statements other than statements of historical fact may constitute forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are subject to known and unknown risks, uncertainties and other factors. Or indirectly. In particular, this press release contains forward-looking information on current drilling at Campbell Shard, which may add additional ounces to the Company’s current YCG mineral resource, and the Company’s goal of reclaiming Yellowknife, one of Canada’s premier gold districts.
Due to the Company’s actual results and future events resulting from the factors discussed in the “Risk Factors” section available under the Company’s most recent MD&A and Annual Information Form, such statements cannot prove to be accurate. Company profile www.sedar.com What is available may differ materially from what is anticipated in this forward-looking information.
Although the Company attempts to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that do not cause the anticipated, estimated or intended results. Forward-looking information in this press release is based on information available to the Company as of the date of this press release. Because actual results and future events may differ materially from those anticipated in such statements, such statements cannot be proven to be accurate. Any forward-looking statements in this press release are qualified by these cautionary statements. Readers are cautioned not to rely on any forward-looking information as it involves uncertainties. The Company disclaims and undertakes no obligation to update this forward-looking information except as required by applicable securities laws and regulations.
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