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Getchell Gold Corp (2)
Symbol GTCH
Shares Issued 70,096,250
Close 2021-01-26 C$ 0.34
Recent Sedar Documents

Getchell drills 21.9 m of 6.2 g/t Au at Fondaway

2021-01-27 06:13 ET - News Release

Mr. William Wagener reports

GETCHELL GOLD CORP. INTERSECTS 6.2 G/T AU OVER 21.9M INCLUDING 9.6 G/T AU OVER 12.0M AT THE COLORADO ZONE, FONDAWAY CANYON PROJECT, NEVADA

Getchell Gold Corp. has released partial results from the recent six-hole 1,995-metre drill program at the company's flagship Fondaway Canyon gold project in Nevada.

Key highlights:

  • Assay results have been returned for the first three holes from the 2020 drill program at Fondaway.
  • Holes FCG20-02 and 03 were drilled in the Central area to test the downdip extension of the Colorado zone mineralization.
  • Multiple gold zones were intersected in hole FCG20-02 including a new high-grade gold zone above the targeted depth for the Colorado zone mineralization, and closer to surface.
  • The company intersected 6.2 grams per tonne gold over 21.9 m including 9.6 g/t Au over 12.0 m and including 20.4 g/t Au over 3.2 m in FCG20-02 in this newly identified mineralized structural zone.
  • In addition, both holes FCG20-02 and 03 intersected broad intervals of mineralization, with higher-than-anticipated gold grades, downdip from the Colorado zone.
  • The company intersected 1.9 g/t Au over 43.5 m including 4.2 g/t Au over 14.9 m in FCG20-02.
  • The company intersected 4.3 g/t Au over 21.1 m including 8.7 g/t Au over 9.4 m and a lower interval grading 2.0 g/t Au over 49.0 m in FCG20-03, an approximate 120-metre stepout from FCG20-02.
  • Hole FCG20-01, drilled 2.3 kilometres to the west at the Pediment target area, was lost within a fault zone prior to reaching the target depth. The last series of samples at the bottom of the hole showed an increase in gold values potentially indicative of the approaching targeted gold zone.
  • Assays are still pending for holes FCG20-04, 05 and 06 drilled in the Central area.

"We are thrilled that our initial drill holes testing the gold mineralization downdip from the Colorado pit both intersected wide mineralized structures and extended the known gold mineralization towards the southwest," said Mike Sieb, president, Getchell Gold. "We also encountered a very prominent and high-grade interval not accounted for in our geologic model that highlights the extensive mineralizing system at Fondaway, and we look forward to shortly receiving the outstanding 2020 drill program assay results."

Assay results have been received for the first three diamond drill holes (FCG20-01, 02 and 03) of the six-hole drill program completed at Fondaway Canyon in late 2020.

Central area drill results

Drill holes FCG20-02 and 03 were both collared from the historic Colorado pit and successfully extended the known gold mineralization toward the southwest. The associated table presents a summary of the notable gold intervals from holes FCG20-02 and FCG20-03.

Hole FCG20-02, drilled to the southwest along a plane connecting the Colorado pit to Pack Rat zone, encountered a wide mineralized structural zone between a drill depth of 150 and 300 metres. The mineralization was encountered where predicted by the geological model and downdip from the Colorado zone. Within the breadth of the mineralization encountered, two gold zones are highlighted:

  1. 1.9 g/t Au over 43.5 metres including 4.2 g/t Au over 14.9 metres;
  2. 1.1 g/t Au over 12.3 metres.

Hole FCG20-03, drilled to the south as a stepout from FCG20-02, encountered the mineralized structural zone between 150 and 290 metres downhole, approximately 120 metres east-southeast of the FCG20-02 main structural zone intercepts. The primary gold intercepts are highlighted:

  1. 4.3 g/t Au over 21.1 metres including 8.7 g/t Au over 9.4 m and including 14.6 g/t Au over 3.4 m;
  2. 2.0 g/t Au over 49.0 m (188.3 to 237.3 m).

The broad Colorado structural zone that hosts the gold mineralization encountered in FCG20-02 and FCG20-03 has a true thickness of approximately 100 metres, dips shallowly to the southwest and comprises strongly sheared, brecciated and bleached sedimentary rocks.

Hole FCG20-02 intersected a significant new structural zone of high-grade gold mineralization higher up in the hole than expected. Of 17 consecutive samples extending 21.9 metres downhole, only one sample assayed less than one g/t Au with the highest sample grading 25.5 g/t Au (1.7 m sample). The mineralized interval graded 6.2 g/t Au over 21.9 metres including 9.6 g/t Au over 12.0 metres and including 20.4 g/t Au over 3.2 metres.

The Colorado structural zone was targeted downdip by holes FCG20-05 and FCG20-06 and assays for these holes are pending.

Half Moon area drill hole

Drill hole FCG20-04 was collared north of where the Half Moon vein is exposed on surface and drilled to the southwest. FCG20-04 was designed to (i) pierce the Half Moon vein to characterize the mineralization and (ii) extend the gold mineralization intersected in hole FC17-04 downdip to the southwest.

Assay results are pending for hole FCG20-04.

Pediment target area

The Pediment target is the westernmost known gold-mineralized occurrence along the 3.5 km long east-west-trending Fondaway Canyon gold mineralization corridor. The area is completely blanketed by a broad alluvium cover, which is typical of the range and basin geomorphology for the area.

Two vertical drill holes completed in 2002, 02FC-10 and 02FC-11, were collared 185 metres apart and designed to test potential gold mineralization beneath the sediment cover on trend with the Fondaway Canyon east-west gold corridor. Both holes successfully intersected thick lower-grade gold intersections with hole 02FC-10 intersecting 27.4 m grading 0.82 g/t Au and 02FC-11 intersecting 36.6 m grading 0.52 g/t Au.

One hole, FCG20-01, was drilled on the pediment targeting the midway point between the two gold-bearing intervals intersected by holes 02FC-10 and 02FC-11 to characterize and model the mineralization geometry. FCG20-01 was lost within a fault zone prior to reaching the target depth. The last series of samples at the bottom of the hole showed an increase in gold values potentially indicative of the approaching targeted gold zone.

Additional drilling in 2021 is planned for this prospective target and the drilling methodology and orientation will be adjusted to address the structural setting.

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 2020 drill core was cut at Bureau Veritas Laboratories' (BVL) facilities in Sparks, Nev., with the samples analyzed for gold and multielement analysis in BVL's Sparks, Nev., and Vancouver, B.C., laboratories, respectively. Gold values were produced by fire assay with an atomic absorption finish on a 30-gram sample (BV code FA430) with overlimits reanalyzed using method FA530 (30 g fire assay with gravimetric finish). The multielement analysis was performed by ICP-MS (inductively coupled plasma mass spectrometry) following aqua regia digestion on a 30 g sample (BV code AQ250). Quality control measures in the field included the systematic insertion of standards and blanks.

The 2002 drill samples from the two reverse circulation drill holes referred to in this news release were split with a Jones splitter when dry and a rotary splitter when wet. Quality control samples from the field (that is, field duplicate samples) were not submitted for analysis and the sample sizes and security measures were not documented. The samples were analyzed for total gold by American Assay Laboratories of Sparks, Nev., assays using the fire/atomic absorption finish method on a 30-gram sample. The quality assurance/quality control protocol employed by the laboratory was conducting duplicate analyses of core pulps, approximately one per 11 samples. The laboratory did not insert blanks and standards, a current NI 43-101 standard. A qualified person from Getchell has verified that the 2002 drill program results disclosed used procedures that are non-NI 43-101 compliant; however, the results have been accurately transcribed from the original source and are considered suitable for reference at the current stage of exploration.

About Getchell Gold Corp.

Getchell Gold is a Nevada-focused gold and copper exploration company. 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 historical resource estimate. Complementing Getchell's asset portfolio is Dixie Comstock, a past gold producer with a historical resource, and two earlier-stage exploration projects: Star Point and Hot Springs Peak. Getchell has the option to acquire 100 per cent of the Fondaway Canyon and Dixie Comstock properties, Churchill county, Nevada.

We seek Safe Harbor.

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