on Gold Terra Resource Corp (CVE:YGT)
Gold Terra Initiates Sonic Drilling Program and Grants Stock Options
Gold Terra Resource Corp announces a sonic drilling program at the Con Mine historic tailings site in Yellowknife, NWT. The initiative, starting in September, aims to assess gold potential in the historic tailings, vital to the company's strategy. These tailings, originating from ore graded between 16 to 20 g/t Au, may hold significant gold resources necessary for future operations.
The drill program targets two storage facilities: Upper Pud and Middle Pud, with 148 drill holes planned. This is designed for detailed evaluation, facilitating mineral resource estimation and metallurgical testing. In parallel, Gold Terra announced stock options for its team, granting options for 3.8 million common shares at C$0.205 each.
The company has also earmarked C$7.2 million for ongoing projects, including exploration drilling in the Campbell Shear zone and Yellorex sampling, with a Preliminary Economic Assessment expected by year-end. The options exercise aligns with TSX policies, involving a five-year term with a structured vesting plan.
R. P.
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