Toronto, Ontario – November 13, 2020 – Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") a leading Nevada focused Gold and Copper exploration company wishes to announce that the drill program has been completed at the Fondaway Canyon Gold project (“Fondaway Canyon” or “Project”) located in Churchill County, Nevada.
Fondaway Canyon Drill Program Update
The drill program at Fondaway Canyon, as announced on September 8, 2020, has concluded with 6 holes drilled for a total 1,996 metres (6,550 feet).
Five of the six drill holes were collared within the Central Target Area, a 1,000 x 700 metre highly mineralized NE-SW extensional zone within the central portion of the 3.5 km long E-W trending Fondaway Canyon gold mineralized corridor. The Central Target Area is a nexus for the gold mineralizing system observed at the Project with the five drill holes focusing on two of the NE-SW (the Half Moon – South Pit and the Colorado – Pack Rat) mineralized zones.
The drill program in the Central Target Area was designed to address two primary objectives:
- Extend the known mineralization; and
- Characterize the known mineralization to assist with geological and resource modelling.
As planned, one hole was collared to test the Pediment Target Area, the westernmost extent of known gold mineralization along the 3.5 km long E-W trending Fondaway Canyon gold mineralized corridor where two vertical drill holes completed in 2002 intersected broad intervals of gold mineralization (refer to Company news release dated May 21, 2020 for further details).
The vast majority of the drill core was sampled in its entirety and all the drill core has been delivered to the analytical lab for cutting and assaying. Due to the sample backlog experienced by the analytical lab the Company does not anticipate receiving results until well into December.
Scott Frostad, P.Geo., is the Qualified Person (as defined in NI 43-101) who reviewed and approved the scientific and technical information in the news release.
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 Point 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 field activities to advance its assets are not impacted by the COVID-19 Corona virus. The backlog reported by the analytical lab is primarily the result of the high volume of samples received due to the increased exploration activity triggered by a strong gold market; in respect to any impact the COVID-19 corona virus may contribute. 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
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.