Phoenix, Arizona--(Newsfile Corp. - March 28, 2022) - The Stock Day Podcast welcomed Gold Terra Resource Corp. (OTCQX: YGTFF) ("the Company"), a company that controls one of the six major high-grade gold camps in Canada. Chairman & CEO of the Company, Gerald Panneton, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "I have been working in this industry for almost forty years," shared Panneton, before elaborating on the diverse experience (Barrick Gold / Founder and CEO of Detour Gold sold for 4.9 B$) and knowledge among the Company's management team. "I joined Gold Terra Resource because of the high-grade potential."
Jolly then asked about the Company's upcoming drill program, as well as the Con Mine property option with Newmont Canada FN Holdings ULC. "We worked for two years to reach the definitive optioning for the Con Mine," said Panneton. "The Campbell Shear has already produced nearly 14 million ounces of gold," he explained. "The potential to the south of it has not been explored for the last 25 to 30 years."
"We negotiated to essentially purchase the Con Mine because we believe we can find a couple million ounces of high-grade gold," continued Panneton. "There is a huge benefit to focus on high-grade mineralization," he added. "There is a better profit, but less of an investment."
"Could you give us an update on the Yellowknife City Gold project?" asked Jolly. Panneton explained that the cost of mining in Yellowknife is significantly lower than in other areas because of its diverse selection of services and infrastructure. "It is cheaper to operate in a town with all of the services," said Panneton. "Yellowknife offers high-grade mineralization and great exploration potential within 20 kilometers of the mine."
"What are your expectations for the next two to three quarters?" asked Jolly. "Last year we drilled just short of 13,000 meters," said Panneton. "This year, we are probably going to have 20,000 meters drilled by September," he added. "Ten holes out of the first thirteen have visible gold at the Mispickel area," shared Panneton. "We have extended the zone almost 200 meters north and another 200 meters south," he added before elaborating on the Company's Campbell Shear drilling progress which focuses on the Campbell shear, where hole GTCM21-22 intersected 19.74 g/t Au over 5.44 metres.
Jolly then commented on a recent announcement detailing the Company's closing of a $5.6 million bought deal financing. "The gold price is great, and we don't expect it to be going down," said Panneton. "We already have money for the current first 20,000 meters, and yes, we may have to raise more money for the remainder of the year," said Panneton. "But at the same time, we will have an updated resource by the end of the year," he shared. "If you have a good project and it is high-grade, you will succeed."
To close the interview, Panneton elaborated on the Company's significant potential, especially when considering their current valuation. "If we double our resource over the next twelve months or we reach 3 to 4 million ounces over the next 24 months, this will be a great opportunity for people to invest in one of the most successful stories in Canada."
To hear Gerald Panneton's entire interview, follow the link to the podcast here: https://audioboom.com/posts/8055562-gold-terra-resource-corp-discusses-5-6-million-bought-deal-financing-and-high-grade-potential-w.
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About Gold Terra's Yellowknife City Gold Project
The YCG project encompasses 800 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific Campbell shear, where 14 Moz of gold has been produced, and most recently on the Con Mine Option claims immediately south of the past producing Con Mine (1938-2003).
The YCG lies on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that host the former-producing high-grade Con and Giant gold mines. The Company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
Visit our website at www.goldterracorp.com.
For more information, please contact:
Gerald Panneton, CEO & Executive Chairman
gpanneton@goldterracorp.com
Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
Strazdins@goldterracorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of applicable securities legislation ("forward-looking information"). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.
All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information regarding the current drilling on the Campbell Shear on the Newmont Con Mine Option potentially adding high grade ounces to the Company's current YCG mineral resource, future planned drilling on the Con Mine Option area and the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A and annual information form available under the Company's profile at www.sedar.com.
Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
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