In their search for future mines, many companies are turning to the Far North as existing resources are depleted. The North features favourable geology, mining-friendly policies and is much less explored than more established destinations to the south. Below, we provide an overview of eight companies focused on the northern portion of this continent.
Gold Terra Resource (TSXV: YGT; US-OTC: YGTFF) is completing a 12,000-metre first-phase drill program at the Campbell Shear target, on grounds optioned from Newmont (TSX: NGT; NYSE: NEM). These option grounds are just south of the past-producing Con mine, and adjacent to Gold Terra’s flagship Yellowknife City gold project in the Northwest Territories, 10 km from Yellowknife.
At approximately 800 sq. km, the Yellowknife City project covers an estimated 70 km of the Campbell Shear structure. The historic Giant and Con mines nearby generated a total of 14 million gold oz. from a 7-km section of the shear zone.
In March, Gold Terra announced assays for the first three holes drilled on the optioned grounds; drill highlights includef 4.4 metres of 10.85 grams gold per tonne and 1.1 metres of 2.35 grams gold per tonne.
All three holes intersected the Campbell Shear. According to president and CEO David Suda, the option is the company’s highest-priority target. The first-phase, 12,000-metre drill program is testing a 1.2-km southern extension of the Campbell Shear, targeting vertical depths of 250 to 600 metres.