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Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to provide the results for hole FCG21-15 targeting the down dip extension of the Colorado SW gold zone at the Fondaway Canyon Gold project in Nevada.
Key Highlights
- Hole FCG21-15 intersected multiple significant gold intercepts within the Colorado SW zone over an 87 metre down hole distance including 1.2 g/t Au over 33.6m; 1.9 g/t Au over 26.4m and 1.6 g/t Au over 7.7m;
- In addition, FCG21-15 also reported 3.3 g/t Au over 10.6m including 17.6 g/t Au over 1.6m, well above the Colorado SW zone and 1.5 g/t Au over 12.6m below the Colorado SW zone;
- The Colorado SW gold zone, discovered in 2020, has now been tested by Getchell with ten drill holes that confirm its continuity on a 150m wide section along a 400 metre down dip extent;
- Including holes drilled by past operators, Getchell Gold considers the Colorado SW zone to extend for more than 800 metres down dip from surface and remains open on strike and at depth; and
- Assays are pending for hole FCG21-16 drilled to extend the North Fork zone.
"Every hole drilled over the last two years on the Colorado SW zone has confirmed the continuity of the gold mineralization and continues to demonstrate that Fondaway Canyon is host to an extensive gold mineralizing system. An aggressive drill program is scheduled for 2022 to expand upon and accelerate the delineation of the gold bearing zones." states Mike Sieb, President, Getchell Gold Corp.
Drill Hole FCG21-15
FCG21-15, stationed near the canyon floor and drilling steeply to the northeast, was designed to test the down-dip extent of the Colorado SW gold mineralization encountered in FCG21-12 with a 30-metre step out (Figure 1). FCG21-15 intersected the Colorado SW zone of gold mineralization over an 87 metre down hole distance (Figure 2 and Table 2) with three notable drill intercepts grading:
i) 1.2 g/t Au over 33.6m from 249.6 to 283.2m;
ii) 1.9 g/t Au over 26.4m from 288.6 to 315.0m; and
iii) 1.6 g/t Au over 7.7m from 328.9 to 336.6m.
In addition, a notable intercept grading 3.3 g/t Au over 10.6m including 17.6 g/t Au over 1.6m was encountered higher up the hole and may represent a newly defined lens of mineralization that potentially extends for >200m on section. The extent and orientation of this lens of mineralization will need to be determined by additional drilling.
The drill hole was extended well below the modelled envelope of the Colorado SW zone and encountered a notable intercept grading 1.5 g/t Au over 12.6m. This gold intercept represents the deepest gold interval encountered to date and reinforces the untested potential of the mineralizing system at Fondaway Canyon.
Figure 1: Fondaway Canyon Central Area showing aerial view (above) and current 3D model (below) from the same perspective looking southeast; highlighting the 2020 and 2021 drilling.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3941/112657_1b2f1a1ce4c5bb08_001full.jpg
Figure 2: Colorado SW Gold Zone (NE-SW) 3D Section Highlighting FCG21-15 Gold Intervals.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3941/112657_1b2f1a1ce4c5bb08_002full.jpg
There are now 10 holes drilled by the Company (FCG20-02, FCG20-03, FCG20-05 to FCG21-08, FC21-11 to FC21-13, and FCG21-15) on a 150 metre wide section that have confirmed continuity of the thick Colorado SW gold zone along a 400 metre down dip extent since its discovery in 2020. Including holes drilled by past operators, the Colorado SW zone is modelled to extend for 800 metres down dip from surface and remains open on strike and down dip.
Drill Hole FCG21-16
Ten drill holes, FCG21-07 through FCG21-16, totalling 3,874 metres were drilled last year at the Fondaway Canyon Gold Project. All ten holes are located in the Central Area and followed up on the 2020 discovery of the Colorado SW, the Juniper, and the North Fork gold zones.
There remains one drill hole, FCG21-16, with assays pending and expected over the coming weeks. FCG21-16, stationed on the canyon floor at the junction of the Fondaway Canyon and North Fork drainages and drilled to the northwest, was designed to extend the North Fork gold zone 30 metres off-section to the northwest, from holes FCG20-04, FCG21-09, and FCG21-10.
Table 1 provides a summary of the most notable gold grade intervals reporting from the 10 holes drilled by the Company targeting the Colorado SW zone.
Table 1: Select Colorado SW Zone Significant Gold Intervals
To view an enhanced version of Table 1, please visit:
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* Drill holes FCG21-08 and FCG21-11 intersected the Colorado SW zone over 200 metres downhole length.
Table 2: FCG21-15 Significant Gold Grade Intervals
To view an enhanced version of Table 2, please visit:
https://orders.newsfilecorp.com/files/3941/112657_1b2f1a1ce4c5bb08_004full.jpg
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 2021 drill core is being processed using the same methods as the 2020 drill program. The core is cut at Bureau Veritas Laboratories' ("BVL") facilities in Sparks, Nevada, with the samples analyzed for gold and multi-element analysis in BVL's Sparks, Nevada and Vancouver, BC 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 re-analyzed using method FA530 (30g Fire Assay with gravimetric finish). The multi-element analyses are performed by ICP-MS following aqua regia digestion on a 30g sample (BV code AQ250). Quality control measures in the field include the systematic insertion of standards and blanks.
Highlighted drill intervals are based on a 0.25 g/t Au cut-off, minimum interval lengths of 3.3 metres (10 feet), and a maximum of 3.3 metres of internal dilution, with no top cut applied. All intervals are reported as downhole drill lengths and additional work is required to determine the true width.
Corporate Update
The Company has engaged Jefferson Financial of Matairie, LA, USA, for access to their "Golden Opportunities" investor subscriber list. Getchell Gold has paid US $7,500 for a one time write up on the Company and distribution to its email subscriber list for marketing purposes.
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. Complementing Getchell's asset portfolio is Dixie Comstock, a past gold producer with a historic resource and two earlier stage exploration projects, Star and Hot Springs Peak. Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.
The Company reiterates that its near-term strategy to advance its assets is not impacted by the COVID-19 Corona virus. The Company continues to monitor the situation and is in compliance with all government guidelines.
For further information please visit the Company's website at www.getchellgold.com or contact the Company at info@getchellgold.com or 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. Not for distribution to U.S. news wire services or dissemination in the United States.
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 private placement and the completion thereof and 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: the receipt of all necessary regulatory approvals, use of proceeds from the financing, capital expenditures and other costs, and financing and additional capital requirements. 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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Figure 1. Locality map illustrating the position of Cobre’s project areas. Green licenses are relevant tothe Proposed Transaction, dark grey licenses will be run independently by Cobre.