Gold Terra Resources has announced promising results from its deep drill hole targeting the Campbell Shear beneath the Con Mine workings, with the drill hole intersecting the Con Shear from 1366 to 1405 meters and discovering new gold mineralization in the hanging wall granite host. According to Gerald Panneton, Gold Terra Resources' Chairman and CEO, the gold mineralization reaches up to 13.90 g/t Au over a span of 0.60 meters in the hanging wall granite host of the Con shear at multiple depths along the drill hole. The intersection also revealed a secondary shear structure, further enhancing the mineralization potential of the area.
Panneton highlighted the geological complexity of the intersection, noting that the Con Shear is characterized by intense silicification of mafic volcanic and intermediate intrusive rocks, with a prominent quartz vein present along the intermediate intrusive-mafic volcanic contact. Numerous quartz veins with pyrite mineralization were observed within the strongly silicified and sheared zone, indicating significant mineralization potential. These findings suggest that the area hosts substantial gold resources that could be economically viable for extraction.
Building on these promising results, Gold Terra Resources' 2024 deep drilling program aims to expand upon the initial Mineral Resource Estimate from September 2022, which identified 109,000 Indicated ounces of contained gold and 432,000 Inferred ounces of contained gold between surface and a depth of 400 meters below surface along a 2-kilometer corridor of the Campbell Shear. The discovery of new mineralization in the hanging wall granite host could significantly increase these estimates, providing a substantial boost to the company's resource base.
With these latest discoveries, Gold Terra Resources is poised to unlock further value and potential within its extensive exploration portfolio. The company's commitment to advancing its exploration initiatives and maximizing shareholder value is evident in its proactive approach to exploration and resource expansion. As Gold Terra Resources continues to explore and develop its projects, stakeholders can anticipate further updates and advancements in the company's quest to uncover the full potential of its mineral assets. The intersection of the Con Shear and the discovery of new gold mineralization represent critical milestones that could lead to increased resource estimates and enhanced economic viability for the project.
