Gold Terra Announces Additional Drilling Results including 3.06 g/t Gold over 6 Metres on Yellorex North Zone, Con Mine Option Property

Chairman and CEO, Gerald Panneton, commented, "The drilling results indicate a well-developed gold system in the Yellorex North zone and the expansion of the zone at depth which is open in all directions.  The zone will require additional drilling and will be part of our next drill program.  All ten completed holes on Yellorex North hit the targeted Campbell Shear and the results are highly encouraging and supporting additional drilling. The Campbell Shear structure is our highest priority target as the Con Mine produced historically more than 5 million ounces of high-grade gold (16 g/t Au). "

Highlights

Alteration, veining, and mineralization suggest a well-developed gold system in each drilled hole with an indication of both an upper zone (in hole GTCM23-045) and a deeper zone (in holes GTCM22-039 and GTCM23-048) of mineralization.

Hole GTCM23-045 intersected: 1.7 g/t Au over 4.34 metres from 172-176.34 metres including 3.96 g/t Au over 1.36 metres from 173.5-174.86 metres.  GTCM23-045 showed smoky quartz veining with strong sericite alteration, significant pyrite and needle-like arsenopyrite mineralization, and successfully expanded the shallower portion of Yellorex North zone.

GTCM23-048 intersected 4.31 g/t Au over 2 metres from 383-385 metres and 3.06 g/t Au over 6 metres from 392-398 metres. GTCM23-048 contained abundant quartz veining and exhibited strong mineralization consisting of pyrite, arsenopyrite, stibnite and trace sphalerite. This hole successfully expanded the deeper portion of Yellorex North to depth and shows that the strong mineralization system continues at depth and remains open in three (3) directions.

Holes GTCM23-045 and 048 represent distinct lenses of mineralization within the Campbell Shear at Yellorex North. As it appears that the southern extend of Yellorex North is truncated by the oblique-angled Pud Fault, it is evident that an additional exploration target exists ~300 metres to the south-southeast along the primarily strike-slip fault, where it is postulated that the southern portion of Yellorex North has been off-set to. It means that the zone is open on the other side and will be tested again in the near future.  A long section showing 2023 drilling is presented in Figure 1.    A cross-section showing holes GTCM23-045 and 048 is shown in Figure 2.

Three holes, GTCM23-043, 046 and 047 intersected zones of anomalous gold mineralization.   Hole GTCM23-043 intersected anomalous gold such as 0.51 g/t Au over 9 metres from 256-265 metres and 1.65 g/t Au over 1.0 metre from 277-278 metres indicating the hole represents a narrow gap between the two mineralized horizons within the Campbell Shear.  GTCM23-046 and 047 were designed to explore the northern extents of Yellorex North in an area that has seen little historical drilling. Both holes successfully encountered the Campbell Shear and returned 17.5 metres and 20 metres respectively of anomalous low-grade gold. These broad anomalous zones are interpreted to be the marginal, low-grade halos of high-grade zones.

GTCM23-044 was “faulted” and intersected the footwall zone of the Campbell Shear as the hole was targeting the Yellorex North zone nearby the Pud Fault. The upper portion of the Campbell Shear was offset some 300 metres to the east along the Pud Fault.

The Pud Fault is a post-mineralization feature and was intersected as a 15-centimetre-wide fault gouge at 318 metres. As this program has defined high-grade gold adjacent to the Pud Fault, the faulted-offset of the Yellorex North zone nearby to the east has emerged as a strong target for future exploration.  This target is notably located in an area that has seen little historical drilling.

In addition, GTCM23-042 intersected 5.3 g/t Au over 6.43 metres and was designed to verify and add depth extension to historical high-grade mineralization encountered in the Yellorex North zone of the Campbell Shear. See March 3, 2023 press release).

Ten near surface drill holes have been completed on Yellorex North. The zone is only 1 kilometer south of existing infrastructure, the C1 shaft, and above the level 2300. It was previously tested only by one hole in 2022, GTCM22-039, (see August 3, 2022 press release) which returned two mineralized zones returning 3.31 g/t Au over 6.00 metres from 306.0 to 312.0 metres and including 5.39 g/t Au over 2.0 metres from 309.00 to 311.00 metres, and 2.18 g/t Au over 5.0 metres from 324.00 metres to 329.00 metres.

Gerald Panneton, Chairman & CEO
gpanneton@goldterracorp.com

Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
strazdins@goldterracorp.com

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