Intelligence
Pricing

Materials

Gold Terra Resource Corp. Initiates C$9.7 Million Private Placement

Author:
FAQSIR News Desk
Last Updated:
Reading Time
2 min

Gold Terra Resource Corp. has announced a non-brokered private placement expected to raise C$9.7 million. This initiative includes significant backing from strategic shareholder David Harquail and is intended to support upcoming exploration projects.

#Details of the Private Placement

The offering comprises three categories of shares: 20 million common shares priced at C$0.18 each, which will generate approximately C$3.6 million; 20 million charity flow-through shares priced at C$0.25 each, for an estimated C$5 million; and 5 million flow-through common shares at C$0.22 each, projected to raise C$1.1 million.

#Planned Use of Proceeds

The capital raised will primarily fund a drilling program aimed at confirming and increasing gold resources in the Yellowknife project area. The program is scheduled to commence in July August 2026, focusing on the northern extension of the Campbell Shear and historical tailings at the Con Mine, both believed to hold significant gold potential based on previous production data.

#Targeted Geological Areas

Gold Terra aims to explore the northern extension of the Campbell Shear, where the company has recorded an inferred mineral resource of 595,000 ounces of gold. Additionally, the drilling efforts will target approximately 12 million tonnes of historical tailings, which could potentially contain up to 2 grams per tonne of gold based on past operational records.

#Regulatory Approvals and Timeline

The offering is subject to approval from the TSX Venture Exchange and must close no later than 45 days from the release date. The funds raised will also contribute to general corporate needs and facilitate the Company’s goal of reinstating Yellowknife as a leading gold-mining region in Canada.

#Key Takeaways

  • Gold Terra Resource Corp. has launched a C$9.7 million private placement.
  • David Harquail, a significant shareholder, is participating in the funding.
  • The proceeds will underpin a drilling program in the Yellowknife area, commencing in late July or August 2026.
  • Gold Terra aims to confirm and expand gold resources on the Campbell Shear and historical tailings at the Con Mine.
  • The offering is subject to regulatory approval with a closing deadline set within 45 days.

Original source: Read original article

Frequently Asked Questions

Gold Terra's offering aims to raise funds for general corporate purposes and to support its upcoming drilling programmes, which are expected to confirm and potentially add significant gold resources.
Strategic shareholder David Harquail is notably participating in the offering, which may indicate confidence in Gold Terra's prospects and long-term growth.
The offering consists of three types of shares: 20 million common shares at C$0.18, 20 million charity flow-through shares at C$0.25, and 5 million flow-through common shares at C$0.22, totalling approximately C$9.7 million.
The funds are primarily intended for the imminent drilling programmes focused on expanding the existing mineral resources and exploring new areas within the Yellowknife Project.
The drilling programmes are designed to both confirm and add gold ounces at well-known mineralised sites, which may enhance Gold Terra's overall resource estimates and project valuation.
Drilling will target the northern extension of the Campbell Shear and historical tailings at the Con Mine, both of which are promising areas based on past production data.
The Company believes the historical tailings may contain recoverable gold, which, if verified, could provide a lucrative opportunity without the need for large-scale new mining operations.
The closing is anticipated on or around July 24, 2026, subject to regulatory approvals, positioning Gold Terra to swiftly mobilise for its planned exploration activities.