VANCOUVER, BC / ACCESSWIRE / May 31, 2023 / Gold Terra Resource Corp. (TSX-V:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) ("Gold Terra" or the "Company") is pleased to announce that Midas Minerals Limited (ASX: MM1) ("Midas Minerals") has entered into a definitive option agreement with Gold Terra (the "Definitive Agreement") as previously outlined (see April 4, 2023 press release) to provide, among other things, that Midas Minerals can earn up to an 80% participating interest in two stages for the "Critical Minerals" (pegmatite hosted lithium, tantalum and tin (Li, Ta, Sn), Lithium-cesium-tantalum (LCT), and rare earths or other rare earth deposits) contained within the Quyta-Bell and Eastbelt blocks totaling 536.1 square kilometres on the Company's 100% owned Yellowknife property, as well as an additional 17 recent applications comprising the Quyta-Bell East property covering 182.7km2. These holdings exclude the potential gold belt area on which the Company's current drilling and exploration program is focused on.
Chairman and CEO, Gerald Panneton, commented, "We are pleased to have entered into a definitive agreement with Midas Minerals and look forward to their exploration program for lithium and critical minerals. In addition to the prolific abundance of gold in the Yellowknife gold district, our extensive land holdings have excellent potential for critical minerals with the large number of LCT pegmatites that have been recorded in the Yellowknife LCT pegmatite field. As we are currently focused on our high-grade gold deep drilling target to test the extensions of gold zones under the former Con Mine workings, the agreement gives us exposure to the potential for critical minerals discovery at no cost to Gold Terra until a positive bankable feasibility study is completed. This definitive agreement is expected to bring value to both companies and their shareholders."
Gold Terra Announces Signing of Definitive Option Agreement with Midas Minerals Limited to Explore for Lithium and Rare Earth Minerals on 718.8 square kilometres of its Yellowknife Property, Northwest Territories, Canada (accesswire.com)