GTA Resources and Mining Inc. (TSXV:GTA) commenced a drill program on the newly discovered Exploits Zone at the Squid East project in the Yukon. This initial drilling will focus on the recently reported chip sampling which returned 1.96 grammes per tonne (g/t) gold over the entire 22.0 meter (m) trench length. Included in this is a higher grade interval of 6.39 g/t gold over 4.0 m.
The Company also acquired an additional 58 claim units contiguous to its existing Auden Property, increasing the Auden Property to over 27,000 hectares (1718 claim units).
As quoted in the press release:
A modest 400 m drill program is initially planned to better define the orientation and size of the Exploits gold zone. The Matson Creek placer camp and airstrip will be used as a staging point and a recently completed access trail will be used to service the drill. In addition to diamond drilling, an attempt will be made to further expose bedrock by mechanical trenching in areas where bedrock could not be exposed due to frost conditions in early July.
GTA can earn an initial 51% interest in the Squid East property from Metals Creek Resources Corp. (“MEK”) and can increase its interest to 70% as previously announced in a press release dated 12 January 2013. MEK will be the operator during the initial earn-in period.
GTA’s 100% owned Auden Property is located adjacent to the south of the Albany Property of Zenyatta Ventures Ltd., who recently discovered vein-type graphite (hydrothermal) mineralization while testing electromagnetic (EM) targets. GTA announces that it has acquired an additional 58 claim units contiguous to its existing Auden Property, which increases the Auden Property to over 27,000 hectares (1718 claim units) and that it has identified several conductive zone targets on its central claims. GTA may continue to acquire further claims in the area.