Toronto, Ontario – July 13, 2021 – Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to provide an exploration update on the Fondaway Canyon Gold Project (“Fondaway”) and the receipt of drill permits for additional drill pads at Fondaway as well as for the inaugural drill program at the high-grade Star Copper-Gold-Silver project. Both projects are located in Nevada.
Fondaway Canyon 2021 Drill Program Update
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. Two drill holes of the 2021 program, FCG21-07 and FCG21-08, have been completed and the drill core has been delivered to the analytical lab for analysis.
Both drill holes were drilled southwest from the Colorado Pit to expand on the high-grade gold Juniper zone and the thick Colorado SW Extension zone recently intersected by holes FCG20-02 and FCG20-03. Table 1 details the gold mineralized drill intercepts from these holes, Figure 1 provides a plan view of the Central area with the 2020 and 2021 drill pads and drill traces highlighted, and Figure 2 shows the 3D gold mineralization model on the NE-SW Colorado Pit to Pack Rat section.
FCG21-07 and FCG21-08 were designed as 40m respective lateral and vertical step-outs to the Colorado SW Extension interval intersected in FCG20-02. Both drill holes similarly functioned as a step-out to the high-grade Juniper zone. The two 2021 holes reached their targeted depths and the assay results are expected in late July to early August.
As previously planned, the drill will commence a series of holes targeting the North Fork Zone, starting with FCG21-09, before circling back to continue expanding on the Juniper and Colorado SW Extension gold mineralized zones.
Fondaway Canyon Gold Project Permits
The recently granted drill permit adds three drill pads to the Company’s existing exploration permit at Fondaway and allows:
- Full drill coverage to continue defining the Central Target Area through the foreseeable future; and
- One drill hole at the Pediment Target Area located on the westernmost extent of the East-West gold mineralization corridor.
The permitted Central Target Area is host to a sizable historic resource and is where the 100-metre-thick Colorado SW Extension and the North Fork zones were discovered in late 2020. The newly permitted Pediment Target Area is the site of two historic drill holes that each intercepted broad gold bearing intervals in 2002 and has yet to be properly characterized (refer to Company news release dated Jan. 27, 2021). As the drill campaign at Fondaway progresses, additional drill pads and access roads will be permitted as required.
Figure 1: Fondaway Canyon Central Area Plan Map showing 2020 and 2021 drill hole locations and gold intercepts.
Table 2: Colorado Pit Collared Drill Holes - Orientation and Length
* 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 for the Company has not done sufficient work to classify a current mineral resources estimate at Fondaway Canyon.
Star High Grade Copper-Gold-Silver Project 2021 Drill Program
The 2021 drill program at the high-grade Star Copper-Gold-Silver project is scheduled to commence upon completion of the Fondaway Pediment target area drill hole. The Star project is located approximately 60 kilometres north of Fondaway Canyon.
The Company has now received an exploration permit to commence building drill pads and access routes for the three initially planned holes. Targets of the 2021 drill program include a highly prospective geophysical target located beneath the historic Star Point Copper Mine and a strong geophysical response located near the Star South high-grade Copper-Gold-Silver occurrences. For a comprehensive summary of these two highly mineralized surface occurrences, refer to Company news release dated Oct. 14 and Nov. 24, 2021.
Upon completion of the drill program at Star, the drill will return to Fondaway Canyon with the plan to drill through to the end of the year.
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 will be processed using the same methods for the 2020 drill program. The core will be 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.
The Company has given Notice via SEDAR that its Annual General Meeting (AGM) will be held on September 17, 2021 via conference call at 10:00 AM PDT. The AGM will be followed by a webinar hosted by Mike Sieb where he will provide an update on the 2021 drill program and results. Participant instructions will be provided well in advance of both events.
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.
Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.
+1 303 517 8764
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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.