Gold Terra, which has been exploring the Campbell shear, has provided a few updates pertaining to future operations and management.
Drilling is expected to resume close to Jan. 10, beginning with one drill that can reach depths of 1,500 metres. A second drill should be added around to Jan. 20.
The company aims to drill approximately 40,000 metres in 2022.
Following a November 2021 definitive option agreement with subsidiaries of Newmont Corporation, Gold Terra acquired 100 per cent ownership of Con Mine and its high-grade gold. The Campbell shear produced 6.1 million ounces of gold in that area in the past.
The 2022 drill program will also enable Gold Terra to explore 100 per cent of the ground south of the existing underground workings, test the Campbell Shear structure at greater depths and work in areas not yet tested.
The 2021 portion of the company’s drill program concluded on Dec. 18, with 26 holes bored. Results are pending for the last five holes.
Gold Terra’s Yellowknife City Gold poject covers 800 square km of land immediately north, south and east of Yellowknife, within 10 km of the city at some points.
In terms of management, Gerald Panneton has moved from executive chairman to chairman and chief executive officer (CEO) of Gold Terra. A change which went into effect on Jan. 1
David Suda, former CEO, will stay on as a part-time adviser.
“I sincerely thank Mr. Suda for his significant contributions to the company and I look forward to be working with him in his new role,” Panneton stated.