Gold Terra Resource Corp. plans to kick off a 10,000-metre drilling program to test high-grade gold targets just north of Yellowknife in mid-August, the company said in a news release on Tuesday.
The first phase will target the Crestaurum gold deposit, about 12 km north of Yellowknife to expand the current NI 43-101 estimated resource of 735,000 ounces of gold of the Yellowknife City Gold project. That project comprises 790 square km of contiguous land north, south and east of Yellowknife.
Seven holes will be drilled, for a total of 3,700 m over a strike length of more than 1 km to test the depth extension of the Crestaurum deposit to 400 m below the surface. That depth is about 200 m below the current resource limit. The drilling will also test the Daigle fault offset. More holes will be drilled depending on the success of the program.
The Crestarum deposit has a strike length of 1.5 km, with significant amounts of high-grade gold above the 200 m level from previous drilling programs.
After the Crestaurum drilling portion is finished, the company will bore down on parts of the high-grade Campbell Shear, located north and south of the Giant and Con Mine sites that yielded more than 14 million ounces of gold over decades.
“We are on the cusp of a turning point for 2020 drilling as we now turn our focus on drilling the high-grade Crestaurum deposit and the high-grade Campbell Shear structure,” said David Suda, president and CEO of Gold Terra. “We are confident in the potential to expand the Crestaurum deposit along strike and at depth and very excited about the potential of a discovery along the Campbell Shear structure.”
Gold Terra Resource Corp. was formerly known as TerraX Minerals until a name change took place in February.