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Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to announce the commencement of the maiden drill program at the Company's Star project that comprises two main mineralized occurrences, the formerly producing Star Point copper mine and the Star South Cu-Au-Ag prospect, located in Pershing County, NV.
Key Highlights
- Historic small-scale mining extracted significantly high-grade Copper, Gold, and Silver material;
- The Star Point and Star South occurrences are underlain by pronounced low-resistivity high-chargeability geophysical anomalies characteristic of porphyry style mineralization;
- The surface mineralization is interpreted as potentially deriving from a larger source at depth;
- The large geophysical targets have never been drill tested; and
- The first drill hole is targeting the Star South anomaly.
"Having successfully closed a non-brokered financing this week to top up our treasury, we can now fully focus on drill testing the copper targets at the Star project and further delineating the extensive gold zones at the advanced exploration stage Fondaway Canyon project." states Mike Sieb, President, Getchell Gold Corp. "The Getchell team is thrilled to have two active drill rigs on the ground at two different Nevada projects. We look forward to sharing exploration results through the end of this very active 2022."
Star Project
The Star Copper-Gold-Silver property ("Star" or "Project") is situated in Pershing County, Nevada, approximately 65 kilometres to the North of the Company's flagship Fondaway Canyon gold project that has produced numerous discoveries over the last two years and continues to be advanced.
The Star Point Copper Mine is the site of a historic, near surface, high-grade copper oxide (tenorite) mine that operated from the late 1940s through the mid-1950s. The ore produced was shipped to a smelter in Utah for processing, but there is no record of shipped tonnage or grade.
The surface area is covered with various pits, portals, shafts, open cuts, and associated dumps. The underground development consists of several short shafts, winzes and tunnels of varying length leading to a series of stopes and drifts. The high-grade copper mineralization (i.e., malachite as the green and azurite as the blue copper carbonate hydroxide) is associated with quartz veins hosted within shear zones and the dumps contain numerous strongly mineralized specimens of this material.
The Star South prospect, located 2 kms south of the Star Point Mine, is comprised of a series of pits, artisanal adits and associated dumps (Figure 1). The adits appear to follow high-grade copper-gold-silver mineralization hosted within quartz veins that are associated with shears trending in several different orientations. As with Star Point, malachite and azurite mineralization is abundant (Figures 2 and 3) and indicative of a high copper content, with Star South being additionally enriched in gold and silver (Table 1).
Figure 1: Star South Prospect showing a series of pits, artisanal adits and associated dumps
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Figure 2: A Star South adit showing green malachite (copper) mineralization dump rocks
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Figure 3: Select high grade dump grab samples at Star South
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Table 1: Star South notable sampling results sorted by metal weighting:
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As part of the 2011 sampling campaign 89 samples* were collected with the vast majority sourced from the dumps in the area. A significant portion of the samples collected reported impressive grades of copper, gold and silver in combination. Of the 89 samples collected, 40 samples grade >1% Cu, 21 samples grade >1 g/t Au with 3 reporting >5 g/t Au, and 20 samples grade >30 g/t Ag with 5 reporting >100 g/t Ag.
The high-grade mineralization reporting at surface is interpreted as resulting from the mobilization of mineralized fluids derived from a larger source at depth.
To determine the potential of a mineralized body at depth, Induced polarization ("IP") geophysical surveys were conducted in 2018 and 2020. The IP survey results in conjunction with previous geophysical survey responses (e.g. magnetometer and gravimetric surveys), geology and structural interpretations, have identified a number of discrete priority drill targets.
The priority drill targets primarily exhibit coincident low-resistivity high-chargeability response signifying a highly conductive target and classic characteristics of porphyry style mineralization and alteration.
The first drill hole at the Star project is targeting a large multi geophysical survey line anomaly that links up with the high-grade copper, gold, and silver mineralization at surface at the Star South occurrence (Figures 4 and 5).
Figure 4: Drill Hole SG22-01 at Star South (looking SW)
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Figure 5: Designed trace of drill hole SG22-01 targeting large geophysical anomaly at Star South
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Scott Frostad, P.Geo., is the Qualified Person (as defined in NI 43-101) who reviewed and approved the content and scientific and technical information in the news release.
* The Star Project grab samples were collected during two separate sampling campaigns in 2011 by the current operator. The vast majority of the samples collected were sourced from the various mine-waste dumps populating the property and represent materials extracted from the adjacent workings. Of note, rock grab samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project. Grab samples are solely designed to show the presence or absence of mineralization, and to characterize the mineralization. The grab samples reported from the project reflect a broad range in grade from below detection limit to the grades highlighted herein.
Samples were processed in two batches and analyzed at two certified analytical laboratory, ALS Global ("ALS") in Reno and American Assay Laboratories ("AAL") in Sparks, Nevada. Rock samples were processed similarly at both labs by drying followed by crushing so 70% passed through a 2mm screen. A 250g split, was then pulverized so that 85% passed through a 75μm screen. All samples were analysed for gold by standard fire assay using a 30g aliquot. Digestion of a 0.5g aliquot was done by Aqua Regia and finished by 39 element ICP-AES/MS at AAL or 51 element ICP-AES/MS at ALS. Samples with over limit silver, copper and lead were re-analysed and digested in assay grade Aqua Regia and finished by ICP-AES at ALS while over limit silver samples were re-analysed using a 30g aliquot by fire assay with a gravimetric finish at AAL.
About Getchell Gold Corp.
The Company is a Nevada focused gold and copper exploration company trading on the CSE: GTCH and OTCQB: GGLDF. 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% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.
For further information please visit the Company's website at www.getchellgold.com or contact the Company by e-mail at info@getchellgold.com or by phone at +1 647 249-4798.
Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the use of proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: use of proceeds from the financing Although management of Getchell have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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