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Be the first with the news that moves the market- Gold Terra Resource (YGT) has advanced its 8,000-metre winter drilling program on the Con Mine option property in the Northwest Territories
- An initial eight holes designed to expand the Yellorex North gold zone have been complete
- All of these holes have intersected significant widths of the known Campbell Shear with quartz veining
- As for its next steps, the company stated it will continue drilling a two-kilometre stretch along the Campbell Shear
- Gold Terra Resource (YGT) is down 3.25 per cent, trading at $0.14 per share as of 1 p.m. EST
Gold Terra Resource (YGT) has advanced its 8,000-metre winter drilling program on the Con Mine option property in the Northwest Territories.
So far, an initial eight holes designed to expand the Yellorex North gold zone have been completed. According to Gold Terra, all of these holes have intersected significant widths of the known Campbell Shear with quartz veining. The Campbell Shear structure program’s highest priority target.
Detailed assays for these holes are undergoing lab evaluation, and the company expects to see the results sometime next month.
Chairman and CEO of Gold Terra, Gerald Panneton, commented,
“The objective of the winter drill program is to expand the current near-surface mineral resources on the CMO, and the initial visual observations of the core indicate that we are on track.”
More work to come once targets are finalized
As for its next steps, the company stated it will continue drilling a two-kilometre stretch along the Campbell Shear south of the Con Mine. This drilling will be made up of four holes on the Kam North and Con81 Zones and one hole testing the down-dip extension of the Yellorex deposit.
An additional 2,000 to 3,000 metres of follow-up work may be done on areas of interest.
Lastly, a second drill will complete 2,500 metres of work down depth of a Yellorex hole, expected to start in March once the planning of the target is completed. The aim is to drill high-grade gold shoots beneath the Con Mine workings at approximately -2000 metres vertical.
Gold Terra Resource (YGT) is down 3.25 per cent, trading at $0.14 per share as of 1 p.m. EST.
