Getchell Gold Corp. Extends the North Fork Gold Zone and Intersects 47.0 g/t Au over 1.5m at the Fondaway Canyon Gold Project, NV

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to provide the results for the North Fork Zone drill hole FCG21-10, part of the ongoing 2021 drill program at the Fondaway Canyon Gold project in Nevada.

Key Highlights

• Hole FCG21-10 intersected the North Fork Gold Zone mineralization over 82.2m that included the following notable drill intercepts:
  • 3.0 g/t Au over 41.6m that included 47.0 g/t Au over 1.5m, the highest-grade gold intercept in the 40+ year drilling history of the Project;
  • 4.6 g/t Au over 9.8m; and
  • 1.0 g/t Au over 14.3m.
• Hole FCG21-10 intersected North Fork up-dip from FCG20-04 that graded 2.5 g/t Au over 58.0m;
• Assays are pending for holes FCG21-11 through FCG21-14, that targeted the Colorado SW and Juniper gold zones; and
• Hole FCG21-15 targeting the down dip extent of the Colorado SW gold zone is in progress.

"The latest results are a prime example of why the gold mineralizing system at the Fondaway Canyon Gold Project is so compelling. The Project is host to an enviable setting comprised of very high-grade gold bearing structures that are themselves hosted within broader and thicker zones of mineralization. The grades and thicknesses that have become apparent at Fondaway Canyon rival many of our peers in a world class gold district," states Mike Sieb, President, Getchell Gold Corp.

Fondaway Canyon 2021 Drill Program Update

Eight drill holes, FCG21-07 through FCG21-14, totalling 3,064 metres have been drilled this year at the Fondaway Canyon Gold Project. All eight holes are located in the Central Area and are following up on the discovery of the Colorado SW, the Juniper, and the North Fork gold zones during the 2020 drill program (Figure 1).

Drill holes FCG21-09 and 10 targeted the North Fork Gold Zone, respectively above and below the discovery hole drilled in 2020, FCG20-04, that graded 2.5 g/t Au over 58.0 metres within a broader zone of mineralization (Figure 2).

Hole FCG21-10 intersected the North Fork Zone mineralization over an 82.2m drill interval and represents a 35-50 metres up-dip step-out from the FCG20-04 discovery intercept. Table 1 lists the highly notable gold intercepts encountered by hole FCG21-10.

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/3941/103938_a62d62d96440e868_001full.jpg

Within the North Fork thick zone of mineralization, two of the more significant grade-thickness composite intervals in the history of the project were encountered.

One interval graded 3.0 g/t Au over 41.6m that included 47.0 g/t Au over 1.5m, the highest-grade gold intercept in the 40+ year drilling history of the Project. A second interval, 9.1m lower in the drill hole, returned 4.6 g/t Au over 9.8m.

These high-grade intervals are representative of the unique gold concentrating structures present within the Fondaway Canyon gold mineralizing system and are a highly advantageous attribute for the future potential of the Project.

There are now 4 drill holes on-section (FCG20-04, FCG21-10, FC17-04, and 02FC-01) that have reported significant North Fork gold zone intercepts and have traced the down-dip extent for 175m (Figure 2).

The North Fork gold zone is projected a further distance down-dip and along strike as is shown in Figure 1 that incorporates off-section drill intercepts such as FC17-05, situated down-dip and 250m across an open distance from FCG20-04.

The North Fork gold zone remains open in most directions and warrants significant follow-up.

Figure 2: North Fork Gold Zone (NE-SW) 3D Section Highlighting 2020 and 2021 Drilling.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3941/103938_a62d62d96440e868_002full.jpg

Table 1: Fondaway Canyon Central Area - Drill Hole FCG21-10 Notable Gold Intervals

To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/3941/103938_a62d62d96440e868_003full.jpg

Holes FCG21-11 through FCG21-14 that targeted the Colorado SW and Juniper gold zones are complete with assays pending (Figure 2).

Hole FCG21-15, designed to test the Colorado SW gold zone down dip from hole FCG20-05 (Figure 2) that intersected 1.8 g/t Au over 90.0m including 3.0 g/t Au over 45.3m (Company news release dated Feb. 10, 2021), is in progress and expected to be completed shortly.

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

Getchell Gold Corp. is also announcing that it has continued its corporate jurisdiction out of the Province of Ontario under the Business Corporations Act to the Province of British Columbia under the Business Corporations Act (the "Continuation").

The Continuation was approved by the shareholders of the Company at the annual general and special meeting of the shareholders held on September 17, 2021 (the "Meeting"). The principal effects of the Continuation are set out in detail in the information circular for the Meeting dated August 3, 2021. The information circular and charter documents for the Continuation are available on the Company's SEDAR profile at www.sedar.com.

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 historic gold producer with a significant in-the-ground historic resource estimate. Complementing Getchell's asset portfolio is Dixie Comstock, a historic 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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