Gold Terra Resource Corp. has discovered more than two kilometres of gold mineralization in its Campbell Shear structure, south of the former Con Mine, near Yellowknife.
The Campbell Shear discovery follows Gold Terra’s announcement on March 16 that the estimated quality and quantity in the Sam Otto, Crestaurum, Barney and Mispickel deposits – part of its Yellowknife City Gold Project (YCG) – could amount to 1.2 million ounces of gold and possibly re-establish Yellowknife as a “premier mining camp.”
The discovery came during the first phase of Gold Terra’s drilling program that consisted of 7,242 metres across 13 holes, the company stated in a news release on April 27.
Five of the six million ounces of gold mined at Con were in the Campbell Shear, the company added.
The drilling took place at the company’s optioned property from Newmont Ventures Limited and Miramar Northern Mining Limited, near the YCG Project.
The results from the recent three holes reveal high-grade zones similar to the ones mined at Con, and are part of the same system that requires drilling with closer spacing.
Gold Terra president and CEO David Suda said the company is encouraged by the continuity of gold deposits connected with the historic gold envelope of Con Mine.
The recent discovery comes after drilling in the shear found gold deposits of 5.77 grams per tonne over 12.35 metres earlier in April, and of 10.85 grams per tonne over 4.35 metres in late March, Suda added.