Gold Terra has three rigs on a mine that produced six million ounces (1938–2003) - BNN Bloomberg

AI desk brief

Gold Terra says three rigs are drilling its past-producing Con Mine near Yellowknife, funded by a C$10.1 million financing, with roughly C$7.2 million earmarked for drill programs. The company has a combined 1.925 Moz resource base across the Yellowknife Project and is targeting a preliminary economic assessment by year-end; it says it trades at about US$35/oz of resource versus a US$100 average for Canadian gold developers that already have a PEA.

The pitch is that higher gold prices have revived economics at a brownfield asset that produced 6.1 Moz historically and already has key infrastructure, including a 1,950-m shaft, water treatment plant and existing lease/surface rights. Management says recent drilling has returned high-grade intervals and that near-term work also includes tailings testing and further resource growth at the wholly owned deposits north of Yellowknife.