790 km² prospective land package in proximity to Yellowknife, NWT
On trend with historic production of 14 Moz of gold (Con and Giant mines)
Exceptional access to infrastructure
Inferred mineral resource of 735,000 ounces within multiple gold-bearing shear structures
Multiple untested gold targets and showings
Drilling program of 10,000 m completed at Sam Otto
The Yellowknife City Gold project encompasses 790 km² of contiguous land within 10 km of the city of Yellowknife, a major hub for mining in the north that provides excellent access to infrastructure (air transportation, all-season roads and hydro-electric power) and skilled tradespeople.
The district-size property lies on the prolific Yellowknife greenstone belt, covering over 67 km of strike length on the southern and northern extensions of the shear system that hosts the Con and Giant gold mines, which have produced over 14 million ounces of gold (Giant mine: 8.1 Moz @ 16.0 g/t Au and Con mine: 6.1 Moz @ 16.1 g/t Au).
Gold Terra started exploration activities in 2013 on the initial 37 km² property and have now assembled a highly prospective district-scale land position, which overall has been relatively unexplored. Since acquisition, Gold Terra has carried out geological mapping and sampling, geochemical and geophysical surveys, and an extensive compilation of all prior exploration activities, including re-sampling of historic drill core. To date, Gold Terra has completed over 60,000 m of drilling, mainly focused within a 3 km radius that include the Crestaurum/Barney and the Sam Otto/Mispickel gold deposits.
In November 2019, Gold Terra released its first NI 43-101 mineral resource estimate for these four deposits, which are just 12 km from the city of Yellowknife. The Inferred resource estimate of 735,000 ounces consists of:
A pit constrained Inferred resource of 11.6 million tonnes averaging 1.4 g/t for 523,000 ounces of contained gold
An underground Inferred resource of 1.2 million tonnes averaging 5.7 g/t for 212,000 ounces of contained gold
Mineral Resource Estimate for Yellowknife City Gold Project
(Effective November 4, 2019)
Pit Constrained Inferred Mineral Resources
Crestaurum Pit (Starter)
Sam Otto Pit
Pit Constrained Total
Underground Inferred Mineral Resources
Sam Otto U/G
- The classification of the current mineral resource estimates as Inferred is consistent with CIM Definition Standards on Mineral Resources and Mineral Reserves.
- Mineral resources which are not mineral reserves do not have demonstrated economic viability.
- Underground mineral resources are reported undiluted and in situ at a cut-off grade of 3.0 g/t Au.
- Cut-off grades are based on a gold price of US$1,300 per ounce and gold recoveries of 90%.
- Gold recoveries are based on preliminary test work completed on the Crestaurum and Sam Otto deposits.
- High grade capping was done on composite data. Capping values of 55 g/t Au were applied to Crestaurum and 60 g/t Au for all other deposits.
- Bulk density values were determined based on physical specific gravity test work from each deposit: Crestaurum at 2.85 g/cm3; Barney at 3.00 g/cm3; Sam Otto and Mispickel at 2.80 g/cm3.
- All figures are rounded to reflect the relative accuracy of the estimate.