Gold Terra drilling program targets high-grade gold on Former Con Mine Property that produced 6.1 million ounces at a grade of +15 g/t gold Visible Gold in Drill Hole GTWL22-002/MP5875-F – 20.3m (Main Zone).
including 6.1 million ounces from the Con Mine itself. In addition, historic reserves and resources have been left behind when the mine was closed in 2003 while gold was $370 per ounce and the mine was no longer economic. Furthermore, Newmont supported the deal with a CA$1.5 million strategic investment for 3.7 per cent of the outstanding shares. The goal of the company is to add additional ounces to their current 2021 mineral resource of 1,207,000 inferred ounces. Gold Terra is advancing their Yellowknife City Gold project through their option to purchase 100 per cent of the former Con Mine property from Newmont. The former Con Mine is a key strategic land play for the company as this property contains a significant part of the prospective Campbell Shear, a source of more than 14 million ounces,
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Gold Terra is currently drilling in two areas on the property – north of Yellowknife in the Mispickle Deposit area and on two sites south of the Con Mine along the Campbell Shear, which is now the main focus of the project. South of the Con Mine, the Yellorex zone will be drilled on a 50-metre spacing to bring the deposit into an updated mineral resource, and deeper, it will be drilled at a 200-metre spacing at around -1,000 metres to explore
