Gold Terra Resource Corp. intersects 10.85 g / t gold over 4.35 meters on the Campbell Shear structure of the Newmont Option, Yellowknife City Gold Project, Northwest Territories

VANCOUVER, BC / ACCESSWIRE / March 23, 2021 / Gold Terra Resource Corp. (TSXV: YGT) (FRA: TX0) (OTCQX: YGTFF) (“Gold Terra” or the “Company”) is pleased to announce initial testing on the Company’s optional property of Newmont Ventures Limited and Miramar Northern Mining Limited ( the “Newmont Option”) adjacent to the Yellowknife City Gold Project (“YCG”), NWT, 3 holes were drilled from the Company’s 12,000 meter drill program. The Phase 1 drill program tests 1.2 kilometers of the immediate southern extension of the Campbell Shear, which produced approximately 5 of the 6 million ounces of gold produced at the former Con Mine (1938-2002).

President and CEO David Suda stated, “We are delighted to have intersected gold mineralization at Campbell Shear in our first three holes and high-grade mineralization in third hole. The Newmont Option remains our top priority target in which we are targeting believe that there is potential to add high quality ounces to our recently updated resource estimate of 1,207,000 inferred ounces. The Campbell Shear structure extends at least 20 kilometers south of the Con Mine and we have only just begun prospecting the area immediately south testing the former Con Mine. “

Drilling highlights

The company has completed the first three drill holes of the current drill program for winter 2021 with a total length of 1,714 meters. The first two holes (GTCM21-001 and 002) were drilled south of the Yellorex deposit and the third hole (GTCM21-003) was drilled on the Yellorex portion of the Campbell Shears. The hole positions are shown in Figures 1 and 2.

  • Hole GTCM21-003 intersected 10.85 g / t Au over 4.35 meters including 25.4 g / t Au over 1.55 meters within the 80 meter wide Campbell Shear structure at the Yellorex deposit. This high grade gold bearing zone consists of smoky quartz veins of pyrite, arsenopyrite and stibnite in a broader sericite-modified shale mineralized over 16.5 meters at 3.32 g / t Au and containing abundant quartz ankerite veins. Several other zones were intersected in the same hole, including 3.37 g / t Au over 3.00 m at 177 m depth (see Table 1).
  • Holes GTCM21-001 intersected 2.35 g / t Au over 1.10 meters and GTCM21-002 intersected 1.4 g / t Au over 0.60 meters, holes were spaced 135 meters and approximately 500 meters southwest the Yellorex deposit. Both holes successfully crossed the Campbell shear structure, which was slightly narrower in these two holes: 63 meters wide in GTCM21-001 and 70 meters wide in hole GTCM21-002, consisting primarily of chlorite-calcite shale with small sericite-anchored shale zones where most of the pyrite mineralization occurs.

Figure 1 – Borehole location

Junior Mining NetworkFigure 2 – Longitudinal section with drill holes GTCM21-001, 002 and 003. (Tests are still pending for drill holes GTCM21-004 and 5.)

Although most of the mineralization is pyrite, most of the gold intersections in these three holes are associated with an arsenic anomaly (1000 ppm range). The high grade gold mineralization in the Campbell Shears appears to be concentrated when there is a sericite alteration and smoky quartz veins and associated sulfide mineralization are primarily arsenopyrite and stibnite.

Hole GTCM21-003 in the Yellorex area was important in defining the styles of mineralization that host high quality gold. This hole indicates that high grade gold occurs in broader alteration zones with penetrating anomalous gold values. These properties act as vectors for high quality gold that will aid Gold Terra’s future drilling programs for the Campbell Shears. Holes GTCM21-001 and 002 did not show the favorable gold vector properties when cut with Campbell’s scissors.

In addition, GTCM21-003 demonstrated a good extension of historical drill results to strike and collapse, validating the previous results and accelerating the inclusion of this zone in future mineral resources.

Holes GTCM21-001 and 002 are shown in Figure 3 and GTCM21-003 in Figure 4:

Junior Mining NetworkFigures 3 and 4 – borehole cross-sections

Technical appendix

This news release reports test results from three (3) drill holes totaling 1,714 meters, of which 448 core samples were assayed. Test results range from undetectable gold to a maximum assay of 33.0 g / t Au. The company adds certified standards and blanks to the sample stream for laboratory quality control (QC) verification. Drill core samples are cut with a diamond saw at Gold Terra’s core facilities in Yellowknife. A halved core sample remains in the core box. The other half of the core is removed in securely sealed bags by Gold Terra employees and transported to the ALS (ALS) prep laboratory in Yellowknife. After sample preparation, the samples are sent to the ALS facility in Vancouver for gold analysis. Gold tests of> 3 g / t are retested on a 30 g split by fire testing with a gravimetric finish. Samples with visible gold are additionally examined using a screen metallic method. ALS is a certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks, and pulp duplicates, and the results of all QC samples are reported.

Holes were drilled at right angles to the structure in which the mineralization resided and dip angles of holes were designed to intersect the zones as close to normal as possible. The zones specified here are interpreted with an actual thickness of 80 to 90 percent.

Table 1: Campbell Shear DDH intersections

Borehole

azimuth

Diving

Easting (UTM, NAD83, Z11)

Northing (UTM, NAD83, Z11)

From (m)

To the)

Length (m)

At g / t

GTCM21-001

086

-50

635525

6922105

395.00

396.10

1.10

2.35

GTCM21-002

082

-50

635618

6922004

318.85

319.45

0.60

1.4

GTCM21-003

121.9

-55

635877

6922600

177.00

180.00

3.00

3.37

GTCM21-003

186.20

187.00

0.80

1.93

GTCM21-003

212.15

228.3

16.15

3.31

including

223.20

227.55

4.35

10.85

including

226.00

227.55

1.55

25.4

To date, in addition to the 3 holes published today, the company has completed 10 holes for a total of approximately 5,700 meters along the Campbell Shear to a vertical depth of 400 meters below the surface. These initial holes are designed to better understand the Campbell Shear Zone, which has not been explored for the past 25 years.

The technical information contained in this news release has been reviewed and approved by Joseph Campbell, Chief Operating Officer, a Qualified Person for the purposes of National Instrument 43-101 – Disclosure Standards for Mineral Projects.

About Gold Terra’s Yellowknife City gold project

The YCG project comprises 800 square kilometers 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 quality gold deposits in Canada. The YCG is located 10 kilometers from the city of Yellowknife, near key infrastructure, including year-round roads, air transportation, service providers, hydropower, and skilled craftsmen.

Located on the fertile Yellowknife greenstone belt, the YCG stretches for nearly 70 kilometers along the main mineralized shear system that houses the formerly producing high grade Con and Giant gold mines. The Company’s exploration programs have successfully identified significant zones of gold mineralization and several targets still to be tested, reinforcing the Company’s goal to restore Yellowknife as one of the premier gold mining areas in Canada.

Visit our website at www.goldterracorp.com.

For more information, please contact:
David Suda, President and CEO
Phone: 604-928-3101 | Toll Free: 1-855-737-2684
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Mara Strazdins, Investor Relations Manager
Phone: 1-778-897-1590 | 604-689-1749 ext 102
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Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary 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”). In general, but not always, this forward-looking information can be identified using forward-looking terminology such as “plans”, “expected” or “not expected”, “expected”, “budget”, “planned”. , “Estimates,” “Projections,” “Intentions,” “Anticipate,” “Do Not Anticipate,” or “Believe” or variations of such words and phrases or statements that “may” “become” certain acts, events, conditions or results , “could”, “would”, “could” or “is taken”, “occurs” or “reached” or the negative connotations thereof.

All statements other than historical facts may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that could cause actual results, levels of activity, performance, or performance of the company to differ materially from those stated or stated Variation by such forward-looking information is implied. In particular, this news release contains forward-looking information regarding current drilling at the Campbell Shear under the Newmont Option, which may add high grade ounces to the Company’s current YCG mineral resource, future planned drilling at the Newmont Option and the Company’s goal to renew drilling – Yellowknife established as one of the premier gold mining areas in Canada.

There can be no assurance that such statements will prove to be accurate, as actual results and future events of the company could differ materially from those anticipated in this forward-looking information due to the factors described in the “Risk Factors” section of the latest MD The Company’s & A and Annual Information Form can be found on the Company Profile at www.sedar.com.

While the company has attempted 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 could cause results not to be as expected, estimated or intended . The forward-looking information contained in this press release is based on information available to the company as of the date of this press release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All forward-looking information contained in this press release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to their inherent uncertainty. Unless required by applicable securities laws and regulations, the company does not intend or undertake any obligation to update this forward-looking information.

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