In a news release, Gold Terra Resource Corp. (YGT:TSX.V; TRXXF:OTC; TXO:FSE) announced that five holes recently drilled between the Sam Otto Main zone and its southern extension at the Yellowknife City project encountered gold mineralization.
These holes, done as part of the winter 2020 drill program targeting Sam Otto, showed mineralization continuity in the Connector zone.
Assay highlights from this handful of holes included 1.06 grams per ton (1.06 g/t) gold over 12.9 meters (12.9m) and 1.63 grams per ton gold over 7.25m in hole TSO20-063. Hole TSO20-062 returned 0.45 g/t gold over 41.96m, including 1.68 g/t gold over 5m.
So far this season, the junior gold explorer drilled 38 holes covering 9,715m at Sam Otto, ahead of schedule and budget, the company stated.
"Our company is fortunate to have a healthy cash position exiting the winter 2020 drilling season with the bulk of our drill results still to come," said David Suda, Gold Terra's president and CEO.
The company began conducting an induced polarization (IP) geophysical survey of the area to the north of the Giant mine and the Campbell shear structure, a main area of focus at Yellowknife City. Already the work delineated two new high-grade targets, which Gold Terra intends to drill during this season as well. The company expects to complete the IP survey by the end of April 2020.
In other news, the company's co-founder and chief financial officer (CFO) Stuart Rogers is retiring but will stay on as a director. Mark Brown, who has 20-plus years of executive management experience in mining, begins as the new CFO on April 1, 2020.
Gold Terra, also in the release, addressed the coronavirus and noted the company thus far is free of confirmed cases. "Gold Terra has taken steps to ensure the health and safety of our people and the continuity of our business amidst the COVID-19 crisis," Suda said.
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