Gold Terra Starts 2026 Winter Drill Program on Con Mine Area and Provides Corporate Update
Gold Terra kicks off 15,000m winter drill program at Con Mine with fresh permits and Sprott backing
The most recent news (January 6, 2026) announces the commencement of the 2026 Winter Drill Program at the Yellowknife Project in the Northwest Territories. The program utilizes four diamond drill rigs focused on the Con Mine area (specifically the Yellorex Zone) and the Northbelt (Mispickel area). Critically, the company has secured a renewed 5-year Land Use Permit and a 7-year Water Licence, effective January 17, 2026, providing long-term regulatory certainty. Administratively, the company engaged Soar Financial Partners for IR services and granted 3,600,000 stock options at $0.19 to directors, officers, and consultants.
The news confirms the execution of the 2026 strategy outlined in December 2025. While "Routine" in nature for an exploration company, the impact is positive for three reasons: - Operational Continuity: Starting the program on time in early January maximizes the winter drilling season. - De-risking: The 5-year and 7-year permits remove immediate regulatory hurdles that often plague NWT-based projects. - Funding Utilization: This program is the direct application of the $7.0 million raised in November 2025, showing management is moving quickly to deploy capital into the ground. The shift back to shallow targets (surface to 700m) follows a technical realization in mid-2025 that deep drilling (below 2,000m) from the surface was not economically viable, despite geological success. This pivot is a more conservative, risk-averse use of shareholder capital.
Gold Terra is focused on the Yellowknife City Gold (YCG) project, encompassing 918 sq km. The flagship is the Con Mine Option (CMO) property, under option from Newmont. The Con Mine is a prolific historical producer (5.1 Moz @ 16 g/t Au). The current strategy is to delineate enough shallow, high-grade resources (specifically along the Campbell Shear) to justify re-opening the camp using existing infrastructure like the Robertson Shaft and the 2015 water treatment plant.