Gold Terra Resource Corp. Discusses Updated Resource Assessment and Phase II Drilling Program with The Stock Day Podcast (YGTFF)
Phoenix, Arizona–(Newsfile Corp. – May 20, 2021) – The Stock Day Podcast welcomed Gold Terra Resource Corp. (OTCQX: YGTFF) (TSXV: YGT) (“the Company”), a company that controls one of the six major high-grade gold camps in Canada. President and CEO of the Company, David Suda, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company’s resource estimate, as well as the progress of their Yellowknife City Gold Project. “We told our shareholders that we were going to put out an initial resource in 2019, and we did. We said that we would then build on that, and we did,” shared Suda. “In 16 months, we went from approximately 75,000 ounces of inferred gold to 1.207 million ounces,” he continued. “That is a big jump and it comes from putting our nose to the grindstone and making sure that we systematically drill our targets, which is what we did in 2020.”
“We are doing it again now and that is how we are going to add to our next resource update,” continued Suda. “We’re actually doing it on a very exciting target called the Campbell Shear, which is on the doorstep of the Con Mine,” said Suda. “We are pretty excited to be where we are.”
Jolly then asked about a recent press release detailing the Company’s 43-101 report results. “In addition to the underground mineral resource, we’ve gone out and we’ve defined an open pit area on and under the ground whereby an outside party has been able to confirm that our drilling delineates 875,000 ounces,” said Suda. “We’re still at the point where we want to continue to double those numbers,” he added. “The best way of looking at it is that, at our current valuation and share price, the value we are getting for those ounces in the ground is about $28.”
“Where are we at with the Phase I drilling program?” asked Jolly. “We just completed drilling almost 10,000 meters on this exciting new target on the structural extension of the Con Mine,” said Suda. “It is a target which we happened to have actually partnered with Newmont,” he added. “We’re taking a little break. However, some of the results of that program have been out and they’ve been very strong,” said Suda. “For the balance of that program, I think that will take us through the end of May and into June. After that, we hit the ground running again with another 10,000 meters of fully funded drilling that begins in July.”
“Could you tell us about the Phase II program and the objectives you would like to accomplish?” asked Jolly. “We just want to keep making what we’ve already found bigger,” said Suda. “We want to continue to do what we’ve done in the past, which is to underpin the valuation of our company by putting gold ounces on the table, as well as continuously updating our resources,” continued Suda. “You’ve just got to keep drilling, and Phase II is all about taking the information and building on the wins of Phase I.”
“You mentioned earlier that the Newmont Corporation is a part of this project with you, correct?” asked Jolly. “Yes, we’re partnered on these claims that we are currently drilling,” said Suda. “We entered into an agreement with them to drill on these claims south of the Con Mine, which they are the owners of, and we’ve had an excellent experience working with Newmont and we hope to continue to build on that relationship as we continue to move forward.”
“What are your thoughts on the gold market going forward?” asked Jolly. “I think the backdrop for a rise in gold is incredible; we haven’t seen a backdrop like this. I would say this is unprecedented,” shared Suda. “If you believe in the gold price, then you have to be invested in this sector, because it is so undervalued and we’re just on the cusp of it.”
To close the interview, Suda encouraged listeners to consider the Company’s potential, as well as the market’s reaction to their latest resource update. “I think there is an excellent opportunity here and we have lots of news flow coming,” said Suda. “We’re funded for another 10,000 meters that starts in July, so we’ve got lots to continue to give as this bull market takes off.”
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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.
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:
David Suda, President and CEO
Phone: 604-928-3101 | Toll-Free: 1-855-737-2684
Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
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 Option potentially adding high grade ounces to the Company’s current YCG mineral resource, future planned drilling on the Newmont 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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