Visible Gold Hit in First Sonic Drill Holes at Con Mine Tailings
YGTFF has more than doubled off its 52-week low of $0.064 on light trading volume (0.2× avg).
Summary
Gold Terra hit visible gold at 25-26 metres in hole CMUP-005, the first sonic drilling into the historic Con Mine tailings. The 7,000-metre program started Sept 19 and has completed 17 holes and 429 metres. The tailings are from ore that graded 16-22 g/t Au historically, with recoveries of 85-95%, so residual gold was expected — but hitting visible gold this early confirms the strategy. The company sees the tailings as a low-grade, already-crushed stockpile that could feed a future processing plant at higher throughput. The Con Mine Option with Newmont runs to Nov 21, 2027, giving time to define the resource. Assay results from ALS will be the next hard data point.
At the time of this announcement, YGTFF was trading at $0.13 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $69M. The 52-week trading range was $0.06 to $0.23. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.