BURLINGTON, ONTARIO--(Marketwire - Aug. 20, 2012) - GTA Resources and Mining Inc. (TSX VENTURE:GTA) announces that a Phase 3 diamond drilling program has commenced on the Northshore Property. The property is located in the Hemlo-Schreiber greenstone belt of northwestern Ontario, approximately 200 km east of Thunder Bay, and 70 km west of Hemlo. The drilling program will consist of approximately 20 holes totaling a minimum of 5000 metres.
Exploration conducted by GTA to date suggests that gold mineralization associated with the Afric Intrusive Complex covers an area of at least 275 metres in an east-west direction and extends to a depth of at least 300 metres vertically below surface. Phase 3 drilling will focus on further evaluating the potential size and grade of gold mineralization.
GTA is well financed, and fully funded for this phase of exploration.
About GTA
GTA is a publicly traded mineral exploration company focused on gold exploration in Canada. The Company is governed by an experienced and successful team consisting of management, directors, and technical advisors.
GTA is exploring two gold projects, the Northshore Property, near Schreiber, Ontario, and the Auden Property near Hearst, Ontario. GTA has an option agreement with Balmoral Resources Ltd. ("BAR") whereby GTA can earn up to a 70% interest i n the Northshore Property under the terms of an option agreement announced June 28, 2011. The Company owns a 100% interest in the Auden Property, which consists of over 1,500 claim units, and covers virtually an entire underexplored greenstone belt on strike with the prolific Geraldton-Beardmore gold camp.
GTA has 24,931,855 shares outstanding of which insiders control roughly 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.