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GTA Gta Resources And Mining Inc.

0.015
0.00 (0.00%)
07 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Gta Resources And Mining Inc. TSXV:GTA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.015 0.015 0.02 0 01:00:00

GTA Resumes Drilling on Northshore Property

22/10/2013 9:30pm

Marketwired Canada


GTA Resources and Mining Inc. (TSX VENTURE:GTA) announces the resumption of
diamond drilling at its flagship Northshore Property located in the
Hemlo-Schrieber greenstone belt in Ontario. This latest program will consist of
approximately 1000 metres of drilling and will target both the Afric Gold Zone
and an area of high grade gold-quartz veins located between the Afric Zone and
the Northshore Mine vein system. 


Since optioning the Northshore Property from Balmoral Resources Ltd. (TSX:BAR)
in September, 2011 (News Release - July 27, 2011), GTA has completed a total of
47 holes (10,537 metres) in four different campaigns. This drilling has focused
on the Afric Gold Zone which has been outlined over an area of 500 x 350 metres
and to a vertical depth of 350 metres, remaining open at depth and to the
northeast. GTA is continuing its evaluation of the Afric Gold Zone potential by
compiling the drill hole data into a model that will allow it to better
understand the geometry and size of both the bulk tonnage potential and the
higher grade zones. This new drilling will provide fill-in gold assay
information to aid in this evaluation.


Additionally, two holes are planned to expand on a new gold discovery to the
north of the Afric Zone. Drilling in June, 2013, intersected a new high-grade
gold system, returning an average grade of 5.23 g/t gold over 6.00 metres at a
vertical depth of less than 15 metres, including 19.20 g/t gold over 1.50
metres. A quartz vein containing multiple grains of visible gold was encountered
lower in the same hole, and returned 8.85 g/t gold over 1.00 metre (see press
release dated July 18, 2013). Both these shallow, high-grade intercepts are
located in an area of sparse testing between the Afric Gold Zone and the former
producing high-grade Northshore mine. Early interpretation suggests that these
zones trend parallel to the Northshore Mine vein system and are open for lateral
and vertical expansion.


QA/QC 

The planning, execution and monitoring of GTA's exploration programs on the
Northshore Project are under the supervision of Robert (Bob) Duess, P. Geo.
(Ontario), VP Exploration of GTA. Mr. Duess is a qualified person as defined by
National Instrument 43-101 and is also the Qualified Person for this release.
Mr. Duess has supervised the work programs on the Northshore Property,
supervised the collection of the samples and drill core described herein and
reviewed the assays and QA/QC data. Mr. Duess has also reviewed and approved
this release.


About GTA

GTA is a well funded publicly traded mineral exploration company. It is led by
an experienced and successful management team and is focused on gold exploration
in Canada. GTA currently has three exploration focused projects in its
portfolio. Its flagship project, the Northshore Property, located near
Schreiber, Ontario, is subject to an option agreement with Balmoral Resources
Ltd. (TSX:BAR) whereby GTA can earn up to a 70% interest. Secondly, GTA recently
completed trenching and a 400 metre drill program under an option agreement with
Metals Creek Resources Corp. ("MEK") to earn up to a 70% interest in the Squid
East Property in the White Gold District, Yukon. The third project, the 100%
owned Auden Property, is located near Hearst, Ontario and consists of 1748 claim
units covering virtually an entire greenstone belt and hosting a number of
graphite, gold, base metal and PGE targets. GTA has 26,731,855 shares
outstanding of which insiders control approximately 30% of the outstanding
shares. The Company's shares trade on the TSX Venture Exchange under the symbol
"GTA."


On behalf of the board of directors

GTA Resources and Mining Inc.

Wayne Reid, President and CEO

For more information, please visit the corporate website at www.gtaresources.com. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this press release. 


This press release contains forward-looking statements and forward-looking
information (collectively, "forward looking statements") within the meaning of
applicable Canadian and United States securities laws. All statements, other
than statements of historical fact, included herein, including statements
regarding the anticipated content, commencement, duration and cost of
exploration programs, anticipated exploration program results, the discovery and
delineation of mineral deposits/resources/reserves, the timing of the receipt of
assay results, and business and financing plans and trends, are forward-looking
statements. Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and similar
expressions or are those which, by their nature, refer to future events.
Although the Company believes that such statements are reasonable, there can be
no assurance that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. The Company cautions investors that any forward-looking statements
by the Company are not guarantees of future performance, and that actual results
may differ materially from those in forward-looking statements. Important
factors that could cause actual events and results to differ materially from the
Company's expectations include those related to weather, equipment and staff
availability; performance of third parties; risks related to the exploration
stage of the Company's projects; market fluctuations in prices for securities of
exploration stage companies and in commodity prices; and uncertainties about the
availability of additional financing; risks related to the Company's ability to
identify one or more economic deposits on the properties, and variations in the
nature, quality and quantity of any mineral deposits that may be located on the
properties; risks related to the Company's ability to obtain any necessary
permits, consents or authorizations required for its activities on the
properties; and risks related to the Company's ability to produce minerals from
the properties successfully or profitably. Trading in the securities of the
Company should be considered highly speculative. All of the Company's public
disclosure filings may be accessed via www.sedar.com and readers are urged to
review these materials, including the latest technical reports filed with
respect to the Company's mineral properties.


This press release is not, and is not to be construed in any way as, an offer to
buy or sell securities in the United States.


FOR FURTHER INFORMATION PLEASE CONTACT: 
GTA Resources and Mining Inc.
Wayne Reid
President and CEO
709 699 1733
www.gtaresources.com

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