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Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") a leading Nevada focused Gold and Copper exploration company is pleased to announce partial results from the recent six-hole 1,995 metre drill program at the Company's flagship Fondaway Canyon Gold Project in Nevada ("Fondaway" or "Project").
Key Highlights
- Assay results have been returned for the first 3 holes from the 2020 drill program at Fondaway;
- Holes FCG20-02 and 03 were drilled in the Central Area to test the down-dip 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;
- 6.2 g/t Au over 21.9m including 9.6 g/t Au over 12.0m, and including 20.4 g/t Au over 3.2m was intersected by 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, down-dip from the Colorado Zone;
- 1.9 g/t Au over 43.5m including 4.2 g/t Au over 14.9m was intersected in FCG20-02;
- 4.3 g/t Au over 21.1m including 8.7 g/t Au over 9.4m, and a lower interval grading 2.0 g/t Au over 49.0m was intersected in FCG20-03, an approximate 120 metre step-out from FCG20-02;
- Hole FCG20-01 drilled 2.3km 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; and,
- 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 down-dip from the Colorado Pit both intersected wide mineralized structures and extended the known gold mineralization towards the southwest," said Mike Sieb, President, Getchell Gold Corp. "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 (Figure 1) and successfully extended the known gold mineralization towards the southwest (Figure 2 and 3). Table 1 presents a summary of the notable gold intervals from holes FCG20-02 and FCG20-03.
Figure 1: Fondaway Canyon Central Area Plan Map showing 2020 drill hole locations
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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 down-dip from the Colorado Zone. Within the breadth of the mineralization encountered, two gold zones are highlighted.
- 1.9 g/t Au over 43.5 metres including 4.2 g/t Au over 14.9 metres; and,
- 1.1 g/t Au over 12.3 metres.
Hole FCG20-03, drilled to the south as a step out from FCG20-02, encountered the mineralized structural zone between 150 and 290 metres downhole, approximately 120 metres ESE of the FCG20-02 main structural zone intercepts. The primary gold intercepts are highlighted:
- 4.3 g/t Au over 21.1 metres including 8.7 g/t Au over 9.4m and including 14.6 g/t Au over 3.4m; and,
- 2.0 g/t Au over 49.0m (188.3 to 237.3m).
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 SW and is comprised of 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 down hole, only one sample assayed less than 1 g/t Au with the highest sample grading 25.5 g/t Au (1.7m 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.
Figure 2: Fondaway Canyon Colorado to Pack Rat (NE-SW) long section
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Table 1: Fondaway Canyon 2020 Drill Interval Highlights - Gold Grade
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Figure 3: Colorado Pit Area Plan Map showing 2020 drilling with sample gold grades
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The Colorado structural zone was targeted further down-dip 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 down-dip to the southwest (Figure 1).
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 E-W 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 E-W 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.
Table 2: Fondaway Canyon 2020 Drill Locations and Orientation (UTM metres - NAD83 Z11N)
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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 2020 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 Adsorption 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.
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 (i.e. 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, Nevada Assays using the fire/A.A. finish method on a 30-gram sample. The QAQC protocol employed by the laboratory was conducting duplicate analyses of core pulps, approximately 1 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.
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.
Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.
+1 303 517 8764
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. 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. Image of regional total magnetic intensity showing the Broken Hill orebody (Line of Lode), Impact’s granted licences and licence applications and the new tenements acquired. Note the Thackeringa Fault and Farmcote shear zone, both interpreted as deep-seated long-lived crustal lineaments, and the interpreted sub-basin in the new tenements. Widespread copper occurrences attest to the prospectivity of the region for copper. Impact’s rock chip locations are also shown.
Figure 2. Image of the first vertical derivative of regional magnetic data as in Figure 1. A detailed interpretation of this data has resulted in the identification of numerous target areas for large copper deposits.
Figure 1. Locality map illustrating the position of Cobre’s project areas. Green licenses are relevant tothe Transaction, dark grey licenses will be run, and are owned, independently by Cobre.
Figure 2: Schematic illustrating of the target model compared with typical settings for known KCB deposits.
