Gold Terra Drilling Aims to Expand Yellowknife Gold Resource – Resource World Magazine

Gold Terra drilling aims to expand Yellowknife gold resource – Resource World Magazine

Gold Terra Resources Corp. [YGT-TSXV, YGTFF-OTCQX, TXO-Frankfurt] has announced the start of drilling on Zone 103N, considered to be the northern extension of the Campbell Shear on the former Con mine gold property near Yellowknife, Northwest Territories. The announcement comes after Gold Terra recently closed the second tranche of a previously announced $10.8 million non-brokered private placement offering. The final tranche is expected to close on August 20, 2026. The company said the private placement offering included the participation of strategic shareholder David Harquail, a co-founder of Franco-Nevada Mining Corp. [FNV-TSX, NYSE]. Of the amount raised, the company has said $7.2 million is earmarked for ongoing drilling at Zone 103N and historical tailings at the site. The Con mine property is part of an 836-square kilometre land package that is situated immediately north, south and east of the city of Yellowknife. The property (including the Con Mine and areas immediately adjacent to the Con Mine) is currently held under option from a subsidiary of Newmont Corp. [NEM-NYSE]. Gold Terra’s option on the property extends until November 21, 2027. Current drilling is focused on the Campbell Shear, the main mineralized shear system that has historical production of 14 million ounces of gold from the former Con and nearby Giant gold mines. The company’s exploration programs have identified zones of gold mineralization and multiple targets that remain to be tested, with the objective of re-establishing Yellowknife as a premier gold mining hub. Gold Terra is focused on the Con Mine Option property where deep drilling has intersected the Campbell Shear below the underground workings of the Con Mine, which produced 6.1 million ounces of gold. “Zone 103N along the Campbell Shear has excellent potential to delineate additional ounces,’’ said Gold Terra Chairman and CEO Gerald Panneton. “Our recent June 2026 Technical report includes an initial mineral resource estimate of approximately inferred 595,000 ounces at Zone 103N within the Con Mine Option property, underscoring its potential at depth,’’ he said. “Zone 103N could be a contributor to the potential restart of the Con Mine and is part of the preliminary economic assessment (PEA) scheduled to be completed by year end 2026. The newly re-evaluated historical Zone 103N is the Campbell Shear continuation to the north of the Con Mine property, which was developed in the later years of the Con Mine’s operating life and includes underground development and drilling data. The company said the Campbell Shear northern extension can be followed for 1.6 kilometres on three different levels (2600, 2900 and 3100) or approximately 600 to 900 metres below surface. On Friday, Gold Terra shares were unchanged at 18 cents and currently trade in a 52-week range of 28.5 cents and $0.045.

Gold Terra Announces Start of Drilling on the Campbell Shear Northern Zone 103N Extension to Expand 2026 MRE of Inferred 595,000 Ounces, Con Mine, Yellowknife, NWT

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