Toronto, Ontario – September 16, 2021 – Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to provide an exploration update on the ongoing drill program at the Fondaway Canyon Gold project and the forthcoming drill program at the prospective high-grade Copper-Gold-Silver Star project.
Fondaway Canyon Gold Project
- Hole FCG21-11 has commenced and is a down-dip step-out of the outstanding Colorado SW and Juniper gold intercepts recently announced from hole FCG21-08;
- Two drill holes, FCG21-09 and FCG21-10, that targeted the North Fork Zone discovery, have been completed and sent to the lab for assay; and
- Two new drill pads have been constructed to allow further targeting and expansion of the Colorado SW and the North Fork gold zones.
Star Copper-Gold-Silver Project
- The maiden drill program is scheduled to commence by early October;
- The drill program will target geophysical anomalies associated with the Star Point and Star South highly mineralized surface occurrences; and
- Drill pad construction has now been completed.
Fondaway Canyon 2021 Drill Program Update
Four drill holes, FCG21-07 through FCG21-10, totaling 1,752.5 metres have been drilled this year at the Fondaway Canyon Gold Project. All four holes are in the Central Area and are following up on the discovery of the Colorado SW, the Juniper, and the North Fork gold zones during the 2020 drill program.
The first two holes drilled in 2021, FCG21-07 and FCG21-08, stationed at the Colorado Pit and drilled to the southwest, returned highly remarkable gold intercepts (see Table 1 below and Company news releases dated Aug. 10 and Aug. 25, 2021).
Hole FCG21-08 intersected the Colorado SW Zone for over 200 metres and the high-grade Juniper Zone returned 4.7 g/t Au over 25.9m, that included 11.4 g/t Au over 5.5m, within 100 metres of the surface. The highly successful drill hole FCG21-08 represents the seventh consecutive hole in the Central Area that has intersected substantive gold mineralization by the Company.
Table 1: Fondaway Canyon Central Area – Select 2021 Drill Hole Gold Intervals
In 2020, drill hole FCG20-04 stationed 300 metres to the southeast discovered a thick mineralized body, newly identified as the North Fork Gold Zone, that extended to the bottom of the hole. Figure 1 highlights the notable gold intercepts within the North Fork broad zone of mineralization (see Company news release dated Feb. 10, 2021).
Figure 1: North Fork Gold Zone (NE-SW) 3D Section Highlighting 2020 and 2021 Drilling.
Two 2021 drill holes, FCG21-09 and FCG21-10, that targeted the North Fork Zone above and below FCG20-04’s gold intercepts (Figure 1), have been completed and sent to the analytical lab for assay. Due to drilling issues, hole FCG21-09 was stopped prior to reaching target depth.
The drill has relocated back to the Colorado Pit with the objective of hole FCG21-11 to expand upon the Colorado SW and Juniper gold zones. To assist with further definition along strike and down dip of the Colorado SW and North Fork discoveries, two additional pads have been constructed. These two pads, in conjunction with the existing drill pads, provide ample angles of attack for the foreseeable future.
Star Copper-Gold-Silver 2021 Drill Program Update
In preparation of the maiden drill program at the Star Copper-Gold-Silver project located 60 km to the north of Fondaway Canyon, three drill pads have been constructed.
Two drill pads have been constructed to target geophysical anomalies associated with the Star Point and Star South highly mineralized surface occurrences, located 4 km distant from one another. One additional pad has been constructed 1.5 km to the west of Star South to target a strong geophysical anomaly not directly related to a surface showing due a continuous blanket of sediments covering the target area.
It is anticipated that the drill program at Star will commence at the start of October. It is likely that two of the three geophysical targets will be drilled during this campaign to allow the drill sufficient time to return to Fondaway Canyon and complete additional holes before the end of the 2021 drill season.
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.
The Company is hosting an online Shareholder Update on September 17, 2021, at 11am PDT (2pm Eastern time). President Mike Sieb will provide an update on the 2021 Fondaway Canyon and Star projects drill programs, to be followed by a live Question and Answer session. All interested investors and media are invited to register at:
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.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
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, 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.