Getchell Gold Corp. Intersects Gold-Arsenic Zone at Hot Springs Peak Project
Toronto, August 7, 2019 - Getchell Gold Corp. (CSE: GTCH) ("Getchell Gold" or the "Company") is pleased to provide an update on the drilling and assay results at the Company's 100% owned Hot Springs Peak Property (HSP) located in Humboldt County Nevada. In this round of drilling the Company discovered a previously unknown, 26 meter gold-arsenic zone at HSP which is indicative of a mineralized cap sourced from a deeper Carlin Style target through "leakage" structures. These assay results are part of the now completed two phase exploration drill program to test for a Carlin Style Gold System in two of the geophysical target areas on the Project and is a follow up to the Phase 1 four-hole program that was completed last Fall to test four target locations along the 4 kilometer trend of surface mines containing gold-arsenic mineralization (results detailed in a Company press release dated February 25, 2019).
Drill Results
Hole HSP-RC5 intersected a gold-arsenic zone 26 meters in length containing an average of 0.133 grams per tonne (g/t) gold and a maximum of 0.69 g/t gold in one interval of 1.5 meters (see following strip log graphic) under the mine shaft area that produced a dump aggregate sample of 24 g/t (0.701 opt).
A second gold zone occurs above the main zone. Corresponding arsenic levels range from 486 ppm to greater than 10,000 ppm, and the entire 274 meters of drilling contains an average of 377 ppm arsenic. The gold zones occur near surface in the partially silicified and quartz veined oxide zone and transitions into the black carbon-sulfide zone in the center of the gold mineralization. Microscopic study for realgar and orpiment is planned for the interval containing greater than 10,000 ppm arsenic. Corresponding anomalous antimony also occurs throughout the drill hole with the highest antimony of 619 ppm occurring in the gold zone. The geochemistry spreadsheet analysis for the entire hole length for each hole drilled is available at https://www.dropbox.com/sh/v2chwi08koe7wrh/AACD-OdfT8qyuB_0ef7GZbn4a?dl=0 and is the basis for the findings in this news release.
Strip Log of First 125 meters of HSP-RC5
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3941/46779_cbff0ae604f8f89a_001full.jpg
(the full strip log is available at https://www.dropbox.com/sh/dt0qdbf3y1qnwvb/AABm3dSzcSRDEQxGg2B_RVu2a?dl=0)
The 26 meter gold-arsenic zone, contained within an argillite, phyllite and claystone, is indicative of a mineralized cap with a deeper, concealed, Carlin Style target that mineralized the cap through "leakage" structures. Future exploration of this gold system will focus on exploring for carbonate host rocks along the downward continuation of the mineralized structures and laterally to the southwest under pediment gravel cover where a high resistivity zone, possibly indicative of limestone, approaches the surface (IP line 6 - see press release dated November 13, 2018). This type of resistivity high was tested during the first round of drilling (hole HSP-RC2 - see news release dated February 25, 2019) on the northeast end of the Project and intersected decalcified and argillized carbonaceous limestone.
Future exploration will focus on the concealed target area, under gravel cover, southwest of and under HSP-RC5 where the gold-arsenic mineralization has been discovered. A core drilling program of several angle holes is in planning to test for mineralized carbonate host rocks lateral and under the leakage mineralization.
Core hole HSP-C1 was a 783 meter test of a deeper resistivity zone with high chargeability and intersected numerous carbon-rich quartz veined breccias and fuchsite (chrome mica) - listwanite (nickel mica) altered mafic intrusions indicative of a Carlin Gold System (green alteration mineral in photo, (press release dated July 3, 2019). However, a lack of sulfides and the absence of gold and strong arsenic reduce the chance of finding a gold system in that area along with the fact that claystone was the primary host rock. Future exploration at HSP has shifted to the concealed target area southwest of and under HSP-RC5.
2018 Phase 1 Drilling (shown in white) and 2019 Phase 2 Drilling (shown in yellow)
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3941/46779_cbff0ae604f8f89a_002full.jpg
The technical part of this news release was written by Timothy Master, a Qualified Person (QP) for Getchell Gold Corp. as that term is defined in NI 43-101 and an independent technical advisor for Getchell Gold. The following discussion is a further partial technical analysis of the drill results that should be kept in mind. The drill plan, sample collection and drill sample recovery was monitored by the QP for both the core and RC drilling and is of good quality for both with no lost intervals. All geological logging was completed by the QP at the time of drilling, and all core intervals were geologically selected at the time of logging. The RC intervals were selected to be 1.5 meters each (5 ft).
Additional Technical Analysis
Micas and clay alteration mineralogy in core were identified by physical properties and chemical analyses using the process of elimination. Spectrographic analysis or x-ray diffraction methods were not applied. Sulfur % was used to better estimate visual hand lens pyrite content with good observational accuracy as shown on the spreadsheet analysis. A decision to interpret intrusive rocks in the core hole as mafic-ultramafic prior to extreme felsic-argillic alteration is based on calcium, magnesium, potassium, chromium and nickel contents. The absence of silver supports Carlin Style mineralization with a silver/gold ratio of 10/1 in the highest gold zone. Hornfels alteration of the claystone in the core-hole is based on the destruction of bedding, sedimentary structures and increased hardness with bleaching. Samples for petrographic analysis were collect from the core for positive identification of the hornfels and other white sericite although were not submitted for lack of gold and the weak pathfinder elements of As, Sb and Hg in the core.
ALS Chemex prepared all samples submitted and performed all assay work in accordance with standard industry practice. Assay results for inserted standards were well within acceptable QC variance. Standards for gold were inserted into the assay stream ever 20th sample and show a variance of 0-9.4% with one sample varying by 214%. The analysis with 214% variance was not in mineralized hole HSP-RC5. The gold zone in HSP-RC5 showed a variance of 0-1% against the 2 standards.
The true thickness of the 26 m gold interval in HSP-RC5 is not yet known, further drilling will be required to determine the true thickness.
Gold grade determinations from the RC drill cutting can also be variable based on the size of the pulp prepared for fire assay and the coarseness of the gold. The assays from the gold zones are the minimum pulp preparation of 1 assay ton (30 gram sample). A 2 assay ton (60 gram sample) gives a better representative gold value. Visible gold was observed in the mine dump above and nearby the drill-hole and assayed 24 g/t (0.701 opt) gold from a statistically representative aggregate sample of 20 plus pieces (NI 43-101 report). That discrepancy with the drill assays has not been resolved adequately although a placer concentrating mechanism at the oxide/sulfide weathering boundary is partly indicated with higher gold values in the oxide zone. This does not negate the facts that the entire hole is mineralized with pathfinder elements and the gold mineralization correlates to the pathfinder elements, unlike HSP-RC4 in the first round of drilling that contained the same pathfinder elements without any gold.
Partial Spreadsheet Analysis of the Gold Zone in HSP-RC5 with Geochemical Associations to Alteration and Pathfinder Elements
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3941/46779_cbff0ae604f8f89a_003full.jpg
The geochemistry spreadsheet analysis for the entire hole length for each hole drilled is available at https://www.dropbox.com/sh/v2chwi08koe7wrh/AACD-OdfT8qyuB_0ef7GZbn4a?dl=0.
About the Company
Getchell Gold is a CSE listed gold and copper exploration company. The Company's exploration projects are located in the highly mineralized Northern Nevada Rift. Drill targets have been identified through field work, surface sampling and geophysical surveys. The Company is now in the process of drill testing the identified targets. For further information visit www.getchellgold.com or contact the Company at +1 303 517 8764.
For further information please visit the Company's website at www.getchellgold.com or contact the Company at +1 303 517 8764.
William Wagener, Chairman & CEO
Getchell Gold Corp.
+1 303 517 8764
wswagener@att.net
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.
This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as ""will", "intent", "anticipates" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: risks of future legal proceedings; regulatory approval of the issuance of securities, and potential dilution.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46779