Gold Terra Resource: Multi-Million Ounce Potential in Yellowknife

May 19, 2020

The search for gold is on at the Yellowknife City Gold Project

Gold Terra Resource is a junior gold exploration company that has assembled a highly prospective district scale land position. This sits on the doorstep of the City of Yellowknife in the Northwest Territories. Further, Gold Terra is the recent rebranding of TerraXMinerals and has a new Executive Chairman – Gerald Panneton.

The company is currently focused on expanding and delineating gold resources at its Yellowknife City Gold Project. Gold Terra is also on track to re-establishing Yellowknife as one of the premier gold mining districts in Canada. It has ready access to infrastructure and multiple new high-grade gold discoveries.

Yellowknife City Gold Project

The Yellowknife City Gold project encompasses 790 km2 of contiguous land within 10 km of the city of Yellowknife, a major hub for mining in the north.

Moreover, the district-size property lies on the prolific Yellowknife greenstone belt, covering over 67 km of strike length on the southern and northern extensions of the shear system that hosts the Con and Giant gold mines, which have produced over 14 million ounces of gold.

TerraX started exploration activities in 2013 on the initial 37 km2 property and have now assembled a highly prospective district-scale land position, which overall has been relatively unexplored. Since acquisition, TerraX has carried out geological mapping and sampling, geochemical and geophysical surveys, and an extensive compilation of all prior exploration activities, including re-sampling of historic drill core. Additionally, TerraX has completed over 60,000 meters of drilling, mainly focused within a 3 kilometre radius that include the Crestaurum/Barney and the Sam Otto/Mispickel gold deposits.

In November 2019, TerraX released its first NI 43-101 mineral resource estimate for these four deposits. The Inferred resource estimate of 735,000 ounces consists of:

  • A pit constrained Inferred resource of 11.6 million tonnes averaging 1.4 g/t for 523,000 ounces of contained gold
  • An underground Inferred resource of 1.2 million tonnes averaging 5.7 g/t for 212,000 ounces of contained gold

"We know where to find more gold. And our intention over the next couple of years is 2 to 5 million ounces. This winter alone we're drilling more than 10,000 meter." says, Gerald Panneton.

For more information on Gold Terra Resource Corp. (TSX-V: YGT, OTC:TRXXF) please fill out the form below.

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