If Gold Terra Resource Corp. can hit a target of two million ounces of gold, mining near Yellowknife could spring to life again.
SA国际影视传媒淥ur goal is to find two million ounces this year. And if we find two million ounces this year, or within the next two years, well, weSA国际影视传媒檒l have a project to be developed,SA国际影视传媒� said CEO Gerald Panneton in reference to the Yellowknife City Gold Project and the past-producing Con Mine property, which jointly lie to the immediate north, east and south of the city.
Gold Terra currently has 1.2 million ounces of inferred gold, which is estimated based on limited geological evidence and sampling.
The company took its message to the public and answered questions during a town hall gathering at the Yellowknife Ski Club Chalet on Wednesday.
Details presented during the event revealed that a high-quality MP Ryan Zone was recently located on March 22 in the Mispickel area, where there was 19 grams of gold per tonne over four metres, as well as 73.9 grams of gold per tonne over one metre.
The first 13 holes drilled in this zone have intersected visible gold.
Drilling along the Campbell Shear showed varying degrees of success in the Yellorex Zone SA国际影视传媒� the area immediately south of Con Mine. Results included 4.16 grams of gold per tonne over 11.23 metres and 10.85 grams of gold per tonne over 4.35 metres.
RELATED REPORTING: Gold Terra encouraged by high-grade discovery north of Yellowknife
If the Yellowknife City Gold Project reaches the production stage, it will entail having a mill on site, approximately 20 km north of Yellowknife.
SA国际影视传媒淚tSA国际影视传媒檚 early, but you need to have a strategy,SA国际影视传媒� said Panneton, who noted that the mill is better off situated at that location rather than at Con Mine due to the dust and noise associated with its use.
As for the status of the Con Mine property SA国际影视传媒� to which Gold Terra acquired rights for $1.5 million paid to Newmont on Nov. 22, 2021 SA国际影视传媒� Panneton believes that the viability of continued mining in the Con area will be determined when more information is gleaned from continued drilling.
RELATED REPORTING: Gold Terra signs deal with option to purchase YellowknifeSA国际影视传媒檚 Con Mine
Some of the more than 30 residents who attended WednesdaySA国际影视传媒檚 meeting asked about potential jobs, environmental liability and options for sources of power associated with the project.
SA国际影视传媒淚f we had an underground crew at the Con, and an overhead crew, we could have 200 people to 250 new jobs,SA国际影视传媒� Panneton said, adding that 20 people would be needed to work the mill.
Another question posed was whether environmental remediation at Con Mine could make Gold TerraSA国际影视传媒檚 project unfeasible, to which Panneton replied, SA国际影视传媒淚SA国际影视传媒檓 not worried about the remediation because itSA国际影视传媒檚 98 per cent done.SA国际影视传媒�
In regards to power, Panneton spoke of the need for better options than what exists now.
SA国际影视传媒淲ith better energy, and a better supply of energy to replace these old generators in the future, you will attract more business,SA国际影视传媒� said Panneton. SA国际影视传媒淔orty cents a kilowatt, itSA国际影视传媒檚 not attractive for people to invest.SA国际影视传媒�
Overall in 2021, more than 12,000 metres were drilled in 26 holes south of the Con Mine, expanding the Yellorex Zone.
Gold TerraSA国际影视传媒檚 2022 drilling program is focusing on the area 40,000 metres south of the Con Mine while also expanding the Campbell Shear.
The price of gold has been buoyant, breaking through $2,000 per ounce in March and remaining above $1,900 per ounce more recently.
The company committed to provide a resource update by yearSA国际影视传媒檚 end.
