Getchell Gold Corp. Intersects Three Major Gold Zones Including 2.6 g/t Au over 18.5m Starting at Surface at the Fondaway Canyon Gold Project, NV
Vancouver, January 25, 2022 - Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to provide the results for holes FCG21-13 and FCG21-14, both stationed on the same drill pad, targeting the gold mineralization below the historic Colorado Pit with FCG21-14 additionally testing the margins of a local marble block fault unit, host to the past producing Quick-Tung Tungsten mine, at the Fondaway Canyon Gold project in Nevada.
Key Highlights
FCG21-13
- Hole FCG21-13 intersected three major gold bearing zones: the 'at surface' Colorado, the Juniper, and the Colorado SW gold zones;
- FCG21-13 collared in mineralization on the Colorado zone and proceeded to intersect multiple significant gold intervals within the top 50 metres of the drill hole;
- The high-grade Juniper zone was intersected grading 9.3 g/t Au over 1.9m and 5.7 g/t Au over 11.6m;
- The Colorado SW zone was intersected with multiple intervals spanning a down-hole length of 103.5 metres highlighted by intercepts grading, 1.0 g/t Au over 19.7m, 1.9 g/t Au over 11.8m, and 1.2 g/t Au over 29.1m.
FCG21-14
- FCG21-14 encountered gold mineralization at surface on the Colorado zone grading 2.6 g/t Au over 18.5m including 6.8 g/t Au over 5.4m;
- FCG21-14 intersected further down hole a known marble block, host to the historic producing Quick-Tung Tungsten Mine;
- The marble unit is an isolated thin thrust sheet outcropping at surface and bounded by the major siltstone/argillite unit that is host to the targeted gold mineralization; and
- Due to the acute hardness of the marble unit, the drill hole was stopped prior to its planned depth;
- Assays are pending for holes FCG21-15 and FCG21-16.
"In combination, holes FCG21-13 and FCG21-14 demonstrate that the gold mineralization envelope extends down to a depth of 250 metres starting right below our feet at the Colorado Pit and they reinforce the upside potential scale of the mineralizing system at Fondaway Canyon," states Mike Sieb, President, Getchell Gold Corp. "In addition, FCG21-14 tested the contact relationship of the gold mineralization with a local block fault marble unit providing valuable information to assist with resource modelling and with planning future drill holes in the area to target the extension of the gold mineralization."
Fondaway Canyon 2021 Drill Program Update
Ten drill holes, FCG21-07 through FCG21-16, totalling 3,874 metres were drilled last year at the Fondaway Canyon Gold Project. All ten holes are located in the Central Area and followed up on the 2020 discoveries of the Colorado SW, the Juniper, and the North Fork gold zones (Figure 1). The two drill holes, FCG21-13 and FCG21-14, reporting results in this news release, primarily targeted the mineralization below the historic Colorado Pit.
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.
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Figure 2: Drill Section Highlighting FCG21-13 and FCG21-14 Gold Intervals.
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Drill Hole FCG21-13
FCG21-13 stationed at the Colorado Pit and drilling steeply (-80°) to the northwest (284° Az.) (Figure 2) was designed to test a series of three gold zones below the historic Colorado open pit:
- The gold mineralization directly under the Colorado Pit exposed at surface (the Colorado zone);
- The near surface high grade gold Juniper shear zone; and
- The Colorado SW gold zone.
FCG21-13 collared in the Colorado zone mineralization and proceeded to intersect multiple intervals of mineralization within the top 50 metres of the drill hole highlighted in Table 2 and as follows:
- 1.7 g/t Au over 6.4m from 1.0 to 7.4m down hole distance;
- 2.4 g/t Au over 5.8m from 16.7 to 22.5m; and
- 0.9 g/t Au over 20.1m from 30.0 to 50.1m.
The high-grade Juniper zone was intersected with two intervals grading:
- 9.3 g/t Au over 1.9m from 72.5 to 74.4m; and
- 5.7 g/t Au over 11.6m from 85.0 to 96.6m;
This represents the fourth drill intercept of the Juniper zone through the 2020-2021 drill campaigns. Table 1 provides a summary of the three other high-grade gold intervals that have collectively traced the Juniper zone for 50 metres.
Table 1: Juniper Zone Other Significant Gold Grade Intervals
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The Colorado SW zone was intersected with multiple intervals spanning a down-hole length of 103.5 metres, highlighted by the following select significant intercepts:
- 1.0 g/t Au over 19.7m from 170.2 to 189.9m;
- 1.9 g/t Au over 11.8m from 197.9 to 209.7m; and
- 1.2 g/t Au over 29.1m from 224.2 to 253.3m; with additional notable intervals presented in Table 2.
Drill Hole FCG21-14 and the Quick-Tung Tungsten Mine
FCG21-14 stationed at the Colorado Pit and drilling at -66° to the northwest (284° Az.) was designed to test the gold mineralization below the Colorado Pit and determine the boundary location of a known fault block marginal to the gold mineralization to assist with resource modelling.
Immediately situated to the west of the Colorado Pit, is the historic Upper Quick-Tung Tungsten Mine hosted within an isolated fault block composed of marbleized limestone (outcropping white rock shown in Figure 3). A Tungsten bearing 1.8- to 3.6-metre-wide shear zone was discovered at this site in 1956 prompting small scale open pit and underground production through to 1962.
Figure 3: Colorado Pit and Quick-Tung Tungsten Mine area. Upper photo: Aerial view looking southeast showing surface extent of marble fault block in relation to drill pad location; and Lower photo: looking West, showing interpreted geological contacts of the marble unit dipping to the south in cross section.
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The marble unit is an isolated and relatively thin thrust sheet in a fault relationship with the surrounding siltstone/argillite unit host to the Colorado, Juniper, and Colorado SW gold zones (Figure 3). Gold mineralization is present in the adjoining siltstone/argillite both at surface to the north and east of the marble block and exists at depth below the lower contact as demonstrated by numerous historic drill holes.
FCG21-14 successfully intersected the Colorado zone by collaring in gold mineralization right at surface that grades 2.6 g/t Au over 18.5m including 6.8 g/t Au over 5.4m from 12.6 to 18.0m drill depth.
Shortly down hole from the above gold intersection, the drill crossed into the fault contact boundary zone and then penetrated the marble block (Figure 2). The intent was to drill through the marble unit to determine its lower contact and then test for the extension of the gold mineralization back in the target siltstone/argillite unit. However, the hole was terminated before reaching the targeted depth due to the extreme hardness of the intensely silicified marble unit effectively impeding further progress.
The gold mineralization in this region remains open, discounting the isolated presence of the marble block, and a component of the 2022 drill plan will be to continue drill testing the extension of the gold mineralization to the northwest and to depth from a preferential location and dip angle.
Past operators of the Fondaway Canyon gold project have noted the ancillary Tungsten potential but have yet to formerly evaluate it. Drill hole FCG21-14 was partially designed to initiate that process. Evaluation of the Project's Tungsten potential is wholly subordinate to the evaluation of the gold mineralization and will be incorporated in accordance with the overall advancement of the Fondaway Canyon Gold Project.
Table 2: FCG21-13 and FCG21-14 Significant Gold Grade Intervals
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FCG21-15 and FCG21-16
The two remaining holes, FCG21-15 and FCG21-16, drilled in 2021 with assays pending are expected to be reported over the coming weeks.
- FCG21-15, stationed near the canyon floor on the same drill pad as FCG21-12 and drilling almost vertical to the northeast, was designed to further extend the Colorado SW gold mineralization 30 metres down dip from FCG21-12.
- FCG21-16, stationed on the canyon floor at the junction of the Fondaway Canyon and North Fork drainages and drilled to the northwest, was designed to extend the North Fork gold zone 30 metres off-section to the northwest, from holes FCG20-04, FCG21-09, and FCG21-10.
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 News
Four hundred thousand (400,000) options to acquire shares in Getchell at $0.41 held by a Director expired December 17, 2021, unexercised.
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 or at +1 647 249-4798.
Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.
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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.
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