Just a week after Gold Terra announced encouraging findings on the old Con Mine property, the company has announced another significant discovery at a site north of Yellowknife.
The Vancouver-based explorer stated on March 22 that the Mispickel site, located between Banting and Walsh lakes north of Yellowknife, contains 19 grams of gold per tonne across a four-metre stretch, including 73.9 grams per tonne of gold over one metre.
SA国际影视传媒淲eSA国际影视传媒檙e having good success and hopefully, you know, we can call it a deposit sooner rather than later,SA国际影视传媒� said Gold Terra CEO Gerald Panneton.
Tom Hoefer, executive director of the NWT Chamber of Mines, sees the potential.
SA国际影视传媒淚f there was a lot of distance on it, (73.9 grams) would be the equivalent of over two ounces (of gold) per tonne, which would be incredibly high grade, if you had a lot of it,SA国际影视传媒� he said. SA国际影视传媒淏ut even 19 grams per tonne, thatSA国际影视传媒檚 over half an ounce. So thatSA国际影视传媒檚 still really high grade, so that thatSA国际影视传媒檚 their excitement here.SA国际影视传媒�
Despite the significant find in the Mispickel area, Panneton said exploring the former Con Mine property south of Yellowknife is still Gold TerraSA国际影视传媒檚 top priority. Last week, the company announced it had intersected a low-grade area containing 3.61 grams of gold per tonne across 4.55 metres, including 15.75 grams per tonne across 0.75 metres.
SA国际影视传媒淚tSA国际影视传媒檚 our prime target,SA国际影视传媒� said Panneton. SA国际影视传媒淭he mine was shut down with approximately 650,000 ounces left, and maybe more.SA国际影视传媒�
In November, Gold Terra finalized an option agreement with gold mining company Newmont for the Con Mine property, allowing Gold Terra to explore and extract on the property for four years.
Although he cautions that more work is needed to confirm the potential of the Mispickel area, Hoefer said the find is a positive sign for the future of gold mining in the NWT.
SA国际影视传媒淓very time they report something like this, this is an exciting result, right? Because itSA国际影视传媒檚 high-grade gold, and itSA国际影视传媒檚 in an area that was a little bit new, that hasnSA国际影视传媒檛 seen that kind of result,SA国际影视传媒� he said. SA国际影视传媒淎nd so what that hopefully does is it drives excitement with shareholders who say, SA国际影视传媒榊eah, weSA国际影视传媒檙e going to give you some more money, because we think youSA国际影视传媒檙e hot on the trail here.SA国际影视传媒橲A国际影视传媒�
Should Gold Terra decide to open another mine in the Yellowknife area, Panneton said it would most likely be five to seven years before the project is operational, although it could be sooner.
SA国际影视传媒淭hereSA国际影视传媒檚 no guarantee there will ever be another mine again in Yellowknife, but I think thereSA国际影视传媒檚 a very good chance it could happen. Otherwise, I would not be putting my own money into the company,SA国际影视传媒� he said.
However, he said the future of any new projects will depend on the fluctuating price of gold, which was trading at more than $1,950 per ounce on Thursday.
SA国际影视传媒淚f gold goes down to $1,000, our projects are not as attractive, right?SA国际影视传媒�
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