18:11:33 EDT Thu 28 Mar 2024
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Getchell Gold Corp (2)
Symbol GTCH
Shares Issued 105,013,942
Close 2022-11-15 C$ 0.38
Market Cap C$ 39,905,298
Recent Sedar Documents

Getchell drills 59.3 metres of three g/t Au at Fondaway

2022-11-15 12:26 ET - News Release

Mr. Mike Sieb reports

GETCHELL GOLD CORP. INTERSECTS MULTIPLE GOLD INTERVALS INCLUDING 8.8 G/T AU OVER 8.1 M WITHIN A BROADER 3.0 G/T AU OVER 59.3 M INTERVAL AT THE NORTH FORK ZONE, FONDAWAY CANYON, NV

Getchell Gold Corp. has released assay results from drill hole FCG22-22 that successfully intersected multiple significant intervals of gold mineralization at the North Fork zone in the Central Area of the Fondaway Canyon project in Nevada.

Key highlights:

  • FCG22-22 intersected four significant gold mineralized intervals, including 8.8 g/t (grams per tonne) gold over 8.1 metres within a broader three-gram-per-tonne-gold-over-56.6-metre interval, and 2.4 g/t Au over 21.7 m;
  • Extends North Fork mineralization 50 metres to the south and east;
  • North Fork zone remains open in all directions;
  • Six additional holes completed (FCG22-23 to 28) with assays pending;
  • The company is awaiting receipt of the Fondaway Canyon mineral resources estimate with expectations of a November delivery date.

"The North Fork zone drilling has consistently returned substantial gold intercepts and extended the known mineralization well beyond last year's high-grade discovery," states Mike Sieb, president, Getchell Gold Corp. "Better yet, North Fork continues to remain open in all directions for further expansion."

Drill hole FCG22-22

Drill hole FCG22-22, the fifth drill hole of the 2022 drill program at Fondaway Canyon, was drilled eastward from the southern margin of the Main pit, a site of small-scale mining during the 1970s and 1980s. The hole was designed to test for a continuation of the North Fork mineralization toward the southeast.

FCG22-22 intersected four significant gold mineralized intervals (see the associated table) consisting of:

  • Three g/t Au over 56.6 m down hole, including 8.8 g/t Au over 8.1 m (Upper North Fork);
  • 2.4 g/t Au over 21.7 m, including 7.1 g/t Au over 5.3 m;
  • 0.8 g/t Au over 41.6 m;
  • 1.1 g/t Au over 25.8 m.

The upper high-grade interval correlates well with the high-grade gold mineralization encountered in holes FCG21-16 and FCG22-17 that graded 6.3 g/t Au over 50.7 m and 3.8 g/t Au over 85.9 m respectively. This Upper North Fork gold zone is now prominent across at least seven drill holes and remains open in all directions.

The lower three gold intervals encountered down hole indicate the strength and pervasiveness of the mineralizing system at North Fork, with additional holes required to delineate the extent of these lower intervals of mineralization.

Drill hole FCG22-22 successfully extended the North Fork gold mineralization 50 metres to the east and south from previous drilling with North Fork remaining open in all directions along strike and up and down dip.

Two thousand twenty-two Fondaway Canyon drill program update

Twelve holes totalling 4,645 metres have been completed (FCG22-17 to FCG22-28) during the 2022 Fondaway Canyon drill program. Assay results have been released for six of those holes (FCG22-17 to FCG22) and assays are pending for holes FCG22-23 through FCG22-28.

Holes FCG22-17, -18, -19, -22, -23 and -25 were designed as step outs to test the extent of the North Fork mineralization encountered in hole FCG21-16 that graded 6.3 g/t Au over 50.7 m. Holes FCG 22, 23 and 25 were additionally designed as step outs to test the extent of two lower North Fork gold intervals discovered in FCG22-18 that graded 2.1 g/t Au over 43.4 m and 1.9 g/t Au over 72.6 m.

The results from holes FCG22-17 to 19 have been previously released with all three holes reporting substantial gold intervals (listed below) that successfully extended the North Fork zone:

FCG22-17: 3.8 g/t Au over 85.9 m including 17.7 g/t Au over 9.9 m (July 26, 2022 news release);

FCG22-18: 2.5 g/t Au over 43.4 m, 2.1 g/t Au over 46.9 m, and 1.9 g/t Au over 72.6 m (August 17, 2022 news release);

FCG22-19: 1.8 g/t Au over 107.5 m (see the Sept. 27, 2022, news release).

The company's first mineral resources estimate for the Fondaway Canyon Gold project is being prepared by Apex Geosciences and will include results up to, and including, hole FCG22-19. Any results released subsequent to FCG22-19 will be in addition to the forthcoming mineral resources estimate and incorporated into the next mineral resources estimate.

Drill holes FCG22-20 and FCG22-21 successfully extended the Colorado SW zone to the east and west, with FCG22-20 intersecting four significant gold mineralized intervals starting from surface including a major interval grading 1.7 g/t Au over 56.6 m and FCG22-21 intersecting 0.9 g/t Au over 74.3 m (see the Nov. 2, 2022, news release).

Similar to North Fork, the Colorado SW zone remains open for expansion both along strike as well as up and down dip.

Hole FCG22-24 was designed to test the Pediment target area located two kilometres to the west of the Central area. The Pediment target area is the westernmost known gold mineralized occurrence along the 3.5-kilometre-long, east-west trending Fondaway Canyon gold mineralization corridor. The Pediment target area is the site of two vertical drill holes completed in 2002, 02FC-10 and 02FC-11, collared 185 metres apart that intersected 27.4 m grading 0.82 g/t Au and 36.6 m grading 0.52 g/t Au respectively. FCG22-24 successfully drilled through the Rangefront fault and tested the target zone on the foot wall side of this structure with results pending.

FCG22-26 and -27, stationed near the canyon floor on the same pad as FCG21-12 and -15, were respectively designed to test the eastern extent and conduct infill drilling of the Colorado SW zone.

FCG22-28, stationed midway up the north slope, was designed to conduct infill drilling and test the down-dip extent of the Colorado SW zone.

Upon the completion of FCG22-28, inclement weather and deteriorating road conditions dictated the decision to conclude the 2022 drill program at Fondaway Canyon. The technical team at site is focusing on processing the core from the last hole and transporting it to the lab for analysis whilst the senior technical team is closely guiding the efforts in the production of the forthcoming mineral resources estimate.

Scott Frostad, PGeo, is the qualified person (as defined in National Instrument 43-101) who reviewed and approved the content and scientific and technical information in the news release.

The 2022 drill core is being processed using the same methods as the 2020 and 2021 drill programs. The core is cut at Bureau Veritas Laboratories' facilities in Sparks, Nev., with the samples analyzed for gold and multielement analysis in Bureau Veritas's Sparks, Nev., and Vancouver, B.C., laboratories, respectively. Gold values are produced by fire assay with an atomic absorption finish on a 30-gram sample (BV code FA430) with over limits reanalyzed using method FA530 (30-gram fire assay with gravimetric finish). The multielement analyses are performed by ICP-MS following aqua regia digestion on a 30-gram sample (BV code AQ250). Quality control measures in the field include the systematic insertion of standards and blanks.

Highlighted drill intervals are based on minimum interval lengths of 3.3 metres (10 feet), a 0.25-gram-per-tonne Au cut-off and a maximum of 3.3 metres of internal dilution, with no top cut applied. Broader reported intervals may include internal dilution in the calculated average weighted grades. All intervals are reported as downhole drill lengths and additional work is required to determine the true widths.

About Getchell Gold Corp.

The company is a Nevada-focused gold and copper exploration company trading on the CSE (Canadian Securities Exchange) OTCQB. Getchell Gold is primarily directing its efforts on its most advanced-stage asset, Fondaway Canyon, a past gold producer with a significant in-the-ground historic resource estimate, and on the Star project, a past high-grade copper, gold and silver small-scale producer. Complementing Getchell's asset portfolio is Dixie Comstock, a past gold producer with a historic resource and one earlier stage exploration project, Hot Springs Peak (Au). Getchell has the option to acquire 100 per cent of the Fondaway Canyon and Dixie Comstock properties in Churchill county, Nevada.

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