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Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to present the results from FCG21-08, the second drill hole of the 2021 drill program at the Company's flagship Fondaway Canyon Gold Project in Nevada ("Fondaway" or "Project").
Key Highlights
- FCG21-08 intersected the Colorado SW Zone for over 200 metres with mineralized intervals that included: 4.2 g/t Au over 27.5m, 2.8 g/t Au over 24.5m, 1.4 g/t over 30.7m and 1.3 g/t Au over 16.8m;
- The high-grade Juniper zone was also intersected by FCG21-08 returning 4.7 g/t Au over 25.9m, that included 11.4 g/t Au over 5.5m, within 100 metres of the surface; The FCG21-08 Colorado SW intercepts are greater than 40 metres distance from FCG20-02 (1.9 g/t Au over 43.5m) and 55 metres on strike to the NW from hole FCG20-06 (1.5 g/t Au over 37.7m and 1.1 g/t Au over 38.3m). The Colorado SW Zone remains open along strike and to depth; and
- Hole FCG21-08 is the seventh consecutive hole in the Central Area that has intersected substantive gold mineralization by the Company.
"The unfolding story at the Fondaway Gold Project just keeps getting better. We continue to hit significant grades of mineralization over considerable widths, with our latest drill hole reporting one of the most outstanding series of gold intercepts in the forty-five-year history of gold exploration on the Project." stated Mike Sieb, President, Getchell Gold Corp.
The Company is currently drilling its Phase One 4,000 metre 2021 drill program at the Fondaway Canyon Gold Project as announced on June 1, 2021. Three holes have now been completed (Figure 1) totaling 1,230 metres with assay results released for the initial two holes, FCG21-07 (Company news release dated Aug. 10, 2021) and FCG21-08.
2021 Drill Program Results - Colorado SW Extension Zone
Hole FC21-08 was drilled from the same drill pad as FCG21-07 and was designed to test the Colorado SW Extension Zone down-dip, and to the west, of FCG20-02. The hole produced highly impressive results from the Colorado SW Extension Zone, spanning a distance greater than 200m downhole. The highlighted gold grade intervals are shown in Table 1 and along the drill hole trace in Figure 3. The Colorado SW Zone remains open laterally and to depth.
Four notable and adjacent drill intercepts grade:
- 4.2 g/t Au over 27.5m from 223.4 to 250.9m, including 13.0 g/t Au over 4.3m from 243.9-248.2m;
- 2.8 g/t Au over 24.5m from 261.5 to 286.0m;
- 1.4 g/t Au over 30.7m from 323.5 to 354.2m; and
- 1.3 g/t Au over 16.8m from 374.0 to 390.8m.
Figure 1: Fondaway Canyon Central Area Plan Map showing 2021 drill hole locations.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3941/94326_6704b59f34be1a88_001full.jpg
Figure 2: Fondaway Canyon 3D Gold Domain Model - Colorado Pit to Pack Rat (NE-SW) Section*
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3941/94326_6704b59f34be1a88_002full.jpg
President Mike Sieb has recorded an accompanying video augmenting this news release. The narrated video can be viewed here: https://youtu.be/SrEQ7wo3daw
Figure 3: FCG21-08 Drill Hole Trace with Gold Intervals, Looking NW
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3941/94326_6704b59f34be1a88_003full.jpg
2021 Drill Program Results - Juniper Zone
Hole FCG21-08 also tested the Juniper Zone, located within 100 metres of surface, with a 10m vertical step out from FCG20-02 (Figure 2). FCG21-08 intersected the Juniper Zone between 104.0-129.9m returning 4.7 g/t Au over 25.9m that included 11.4 g/t Au over 5.5m (Figure 3).
The Juniper Zone was discovered last year by FCG20-02 that intersected 6.2 g/t Au over 21.9m that included 20.4 g/t Au over 3.2 m (Company news release Jan. 27, 2021). The new Juniper zone represents a significant high-grade gold zone proximal to surface, remains open in most directions, and will be followed up by additional drilling.
Table 1: FCG21-08 Gold Grade Interval Highlights
To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/3941/94326_6704b59f34be1a88_004full.jpg
2021 Fondaway Canyon Drill Program Update
Drill hole FCG21-09 was collared approximately 300m to the SE of FCG21-07 and targeted the down-dip extent of the thick North Fork Zone that was discovered in 2020. The hole was completed to a drill depth of 507 metres and has been shipped to the lab for core cutting and assaying. The gold results are anticipated in 5 to 6 weeks.
The drilling of hole FCG21-10, situated on the same pad as FCG21-09, has commenced. FCG21-10 is designed to test the North Fork Zone up-dip from the gold interval intersected by the highly successful FCG20-04 (2.5 g/t Au over 58.0m), drilled in 2020 (Figure 1 and refer to Company news release dated Feb. 10, 2021). Of note, FCG20-04 ended in mineralization returning 2.6 g/t over 14.5m.
After completing a planned series of holes in the Central and Pediment target areas, the drill will mobilize 60kms to the north for the maiden drill program at the Company's high-grade Star Cu-Au-Ag project. After the completion of the Star drill program, the drill will return to Fondaway Canyon for the balance of the year.
Fondaway Canyon 3D Gold Domain Model - Colorado Pit to Pack Rat (NE-SW) Section*
The modelled gold domain highlights areas where gold intervals have been geologically linked and projected. The modelled gold domain is solely for exploration planning purposes and does not indicate a mineral resource. A qualified person has not done sufficient work to classify a current mineral resources estimate at Fondaway Canyon.
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.
Highlighted drill intervals are based on a 0.25 g/t Au cut-off, minimum interval lengths of 10 feet (3.3 metres), and a maximum of 10 feet 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.
The 2020 and 2021 drill core was 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 were 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 analysis was performed by ICP-MS following aqua regia digestion on a 30g sample (BV code AQ250). Quality control measures in the field included the systematic insertion of standards and blanks.
Shareholder Update Sept 17, 11am PST
The Company invites all interested investors and media to join the next Getchell Gold Corp Shareholder Update, which will provide an operational update on each of Getchell Gold's Nevada projects, a detailed review of all 2021 drill results to date, and a live Question and Answer session.
Registration is available here:
https://app.livestorm.co/getchell-gold/getchell-gold-shareholder-update-sept-17-2021?type=detailed
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, the Star high-grade Cu-Au-Ag project 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.
Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.
647.249.4798
info@getchellgold.com
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. 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. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94326
Figure 1 Highway Reward Copper Gold Mine: Located 37 km south of Charters Towers within the Mount Windsor Volcanic Belt. Accessible via an all-weather highway, 172 km from the Port of Townsville, Queensland, Australia.
Graph 1: Highway Reward Copper Gold Mine - mining ceased in July 2005: 28 Years of Commodity Growth
