Toronto, Ontario – May 21, 2020 – Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") a leading Nevada focused Gold and Copper exploration company is pleased to report its progress at its flagship gold asset Fondaway Canyon in Nevada. The highlights from the most recent drill programs conducted in the South Mouth open pit area in the western portion of the Project are provided below. In addition, the Company is pleased to announce that it has staked 35 more claims to better cover the extensive mineralizing system at Fondaway Canyon.
Key Drilling Highlights:
- Hole FC17-06 ended in gold mineralization grading 1.29 g/t Au over 6.1 m, remains open in all directions and is a major step-out from the closest on-trend Mid-Realm zone drill hole;
- Hole FC17-07 intersected 6.0 g/t over 1.2 m within an interval of 2.06 g/t Au over 5.2 m;
- Two holes drilled on the pediment west of the range front fault intersected broad gold mineralization of 27.4 m grading 0.82 g/t Au and 36.6 m grading 0.52 g/t Au;
- The gold mineralization encountered in the Pediment holes is hosted in limestone and represents a significant ‘Stand Alone Carlin Style Target’; and
- The drill results support the potential that a larger gold mineralizing system at Fondaway has yet to be revealed.
Key Corporate Highlights:
- The Company is currently planning for the 2020 drill program at Fondaway Canyon; and
- An additional 35 claims were staked to cover the possible extension of the Pediment mineralization at Fondaway Canyon to the west of the original claim block and to provide land for operational flexibility.
“There is no doubt as to the presence and open extent of the gold mineralization at Fondaway Canyon.” states Bill Wagener, CEO Getchell Gold Corp., and “The results from the past two drill programs have only enhanced the indications towards its potential”.
The two most recent drill programs at Fondaway, conducted in 2002 and 2017 by previous operators, saw four holes drilled in the western extent of the Project area along the major four-kilometre-long gold mineralizing trend (Figure 1) described as follows:
- Two vertical holes were drilled in 2002 west of any historic drilling to test targets hidden beneath the pediment (a gently sloping plain at the erosional base of a mountain front consisting of a veneer of soil, sands and gravels that completely blanket the underlying bedrock); and
- Two wide spaced holes were drilled in 2017 under the South Mouth open pit, the site of a historic small-scale mining operation that has only been subjected to very shallow exploration drilling and remains open to depth.
Figure 1: Fondaway Canyon West - South Mouth Area Plan Map
South Mouth Area
The South Mouth area was the site of small-scale open-pit mining in the late 1980s and is the most western surface expression of the extensive four-kilometre-long gold mineralizing system at Fondaway Canyon. At South Mouth the gold mineralization occurs within a 300-metre-wide east-striking steeply dipping shear zone, hosting shear-type veins within a broader disseminated lower grade halo. The historical drilling was quite shallow and primarily tested the near surface mineralization in support of the open pit operation. The abundant gold mineralization encountered fully warrants targeting the deeper potential mineralization that remains untested.
Hole FC17-06 tested the eastern part of the South Mouth open pit area. Multiple low-grade gold mineralization was intersected in the upper parts of the hole. However, it was the last few core boxes that are of keen interest. Consistent mineralization grading 1.29 g/t Au over the last 6.1 metres, from 364.5 to 370.6 m, was intersected at the bottom of the hole.
The FC17-06 intersection is on trend with the Mid-Realm zone, is a 200 metre west and 200-metre-deep step-out from the closest Mid-Realm drill intercept, and is open in all directions. Additionally, this intersection represents significant potential for the under-explored Mid-Realm area as well as demonstrates another positive indicator for the untapped extents of the gold mineralizing system across the Project.
Hole FC17-07 tested the western part of the South Mouth area 400 m west of hole FC17-06 and was designed to cross below the mineralized vein-stockwork zone evident in the pit at this locale. However, the hole was abandoned prematurely as it reached the southern edge of the target mineralized zone due to drilling difficulties caused by broken ground within the shear zone. An interval of stockwork quartz veins near the bottom of the hole assayed 2.06 g/t Au over 5.2 m, containing 6.0 g/t over 1.2 m. While hole FC17-07 was not completed, the noted intersection supports the potential continuation of gold mineralization to depth in this area.
Figure 2: Fondaway Canyon Long Section, Pediment to Mid-Realm Zone looking north
The Pediment target area is on trend with the South Mouth gold bearing shear zone and is located west of the range front fault that is situated at the western margin of the Stillwater range. 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, 185 metres apart and 100-150 metres on the Pediment and west of the range fault, were designed to target potential gold mineralization beneath the sediment cover. Both holes successfully intersected thick lower grade gold intersections (Table 1) 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.
Of note, the gold mineralized intervals are hosted in limestone, which is distinctly different than the siltstone-mudstone hosted mineralization east of the range fault at South Mouth and represents a significant target in its own right. Carlin type gold deposits, with prominent examples in the vicinity of Fondaway Canyon, are characterized by the gold mineralization hosted in silicified decarbonated limestones.
The limestone gold intercepts are another major indicator that Fondaway Canyon may form part of a larger gold mineralizing system that has yet to be revealed.
Table 1: Highlighted Drill Intersections – South Mouth and Pediment Zones
Downhole sample interval lengths reported in this news release are not representative of true width and true width will be less than the reported core length intervals by a certain factor. Getchell has performed insufficient work to determine the attitude of the mineralized zones and an estimation of true width.
Table 2: Summary of Highlighted Drill Holes - South Mouth and Pediment Zones
The 2017 drill samples were analyzed by Bureau Veritas Minerals of Sparks, Nevada, an ISO-certified lab that meets the requirements of ISO/IEC 17025:2005 and ISO 9001:2015. The laboratory employed a QAQC protocol that included insertion of control samples at a rate of 1 per 100 feet of core, approximately 1 per 22 samples, and conducted duplicate analyses of core pulps and rejects. Control samples included a blank and four gold standards at various grades. A qualified person from Getchell has verified that the 2017 drill program results disclosed have been generated with proper procedures, have been accurately transcribed from the original source and are suitable to be used.
The 2002 drill samples from the two reverse circulation drill holes 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 their current use.
The Company staked 35 additional claims, totaling 248 hectares (612 acres), to the west and north of the original Fondaway Canyon claim package to cover the possible extension of the pediment mineralization to the west and to provide land for operational flexibility.
2020 Exploration Program at Fondaway Canyon
There are numerous exploration targets with significant merits and blue-sky potential. The evidence of Carlin Style mineralization at Fondaway demands further drilling to test the expanse of the gold mineralization. “The Company is excited to drill on the impressive 3.5 kilometre Fondaway Canyon gold trend with a known width of up to 800 metres and a vertical range of 670 metres from the higher elevations in the east to the range-front in the west” said Bill Wagener CEO.
The Company is currently planning for the 2020 drill program at Fondaway Canyon. The drill program will be designed to provide “high value enhancement relative to cost” and set the stage for the further advancement and development of the Project.
Scott Frostad, P.Geo., is the Qualified Person (as defined in NI 43-101) who reviewed and approved the contents of this news release and has verified the data disclosed herein.
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 under an agreement with Canarc Resources Corp. (see January 7, 2020 news release for further details).
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.