Getchell Gold Corp. Commences Drill Program at Fondaway Canyon Gold Project
CSE: GTCH
OTCQB: GGLDF
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Getchell Gold Corp. Commences Drill Program at Fondaway Canyon Gold Project
T o r o n t o , O n t a r i o – S e p t e m b e r 8 , 2 0 2 0 – G e t c h e l l G o l d C o r p . ( C S E: GTCH) (OTCQB: GGLDF)
("Getchell" or the "Company") a leading Nevada focused Gold and Copper exploration company
is pleased to announce the commencement of a 2,000 metre drill program at the Company’s
flagship Fondaway Canyon Gold Project in Nevada (“Fondaway” or “Project”).
Key Highlights
x Fondaway Canyon, with a large historic resource, exhibits an ex tensive gold mineralizing
system open in all directions;
x The Phase 1 six-hole 2,000 metre drill program at Fondaway Canyon has commenced;
x Five holes planned for the highly mineralized Central Target Ar ea to extend the known
mineralization and to characterize the mineralization for geolo gical and resource
modelling; and
x One hole planned to determine the characteristics and orientati on of the broad intervals
of gold mineralization previously reported in the highly prospective Pediment Target Area.
“We are excited to commence drilling at the Fondaway Canyon Gold Project and look forward to
the results of our first drill program designed to extend the k nown high-grade gold zones and
advance our new geologic model” states Mike Sieb, President, Getchell Gold Corp.
2020 Drill Program
Fondaway Canyon is an advanced stage gold property with a large historic resource located in
Churchill County, Nevada comprising 171 unpatented lode claims totaling 1,186 hectares (2,932
acres). Gold was first discovered in Fondaway Canyon in 1977 and over the intervening 40+ years
has been the subject of multiple exploration campaigns totaling 735 reverse circulation and core
drill holes, small-scale open pit mining of the oxidized zone a t surface, and underground
development limited to exploration and bulk sampling along one of the main gold mineralized
shear vein zones.
Over the last several months, Getchell’s technical team has con ducted a comprehensive
interpretation of the historic data set to develop a newly refined geological and gold mineralizing
model. Stemming from this work, the Company has designed a Pha se 1 drill program consisting
of an initial 6 drill holes totaling 2,000 metres, performed by a coring rig, that will test various
aspects of the extensive gold mineralizing system at Fondaway.
Central Target Area
The Central Area is a 1,000 x 700 metre highly mineralized NE-S W extensional zone within a 3.5
km long E-W trending gold mineralizing zone and is a nexus for the extensive gold emplacement
mineralizing system observed at the Project (see Figure 1, and Company news releases dated
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May 6 and June 29, 2020). The gold mineralization has been traced from surface to greater than
300 m below surface at certain locales and remains open in all directions.
The majority of the 2020 Phase 1 drill holes (5 of the 6 planned holes) will be collared within this
Central Target Area and will focus on two of the NE-SW (the Hal f Moon – South Pit and the
Colorado – Pack Rat) mineralized corridors.
The drill program in the Central Area is designed to address two primary objectives:
1.) Extend the known mineralization; and
2.) Characterize the known mineralization to assist with geological and resource modelling.
Figure 1: Fondaway Canyon Central Area Plan Map showing main sh ear veins, drill traces and gold
intercepts
Pediment Target Area
The Pediment Target Area, the westernmost known gold mineralization along the 3.5 km long E-
W trending Fondaway Canyon gold mineralized corridor, is locate d west of the range front fault
situated at the western margin of the Stillwater range (refer t o F i g u r e 2 a n d C o m p a n y n e w s
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release dated May 21, 2020). 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, were collared 185 metres apart
and designed to test potential gold mineralization beneath the sediment cover on trend with the
Fondaway Canyon E-W gold corridor. Both holes successfully intersected thick lower grade gold
intersections 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.
Figure 2: Fondaway Canyon West Area Plan Map showing main shear veins, drill traces and gold intercepts
The significance of these results cannot be understated particularly in respect to:
A) Both holes intersected broad intervals of gold mineralization in a new target area;
B) The mineralized intervals are hosted in limestone, which is dis tinctly different than the
siltstone-mudstone hosted mineralization east of the range fron t fault along Fondaway
Canyon and is reflective of major Carlin type gold deposits in the region;
C) The Pediment Area may represent a discrete geological target wi th significant potential
in its own right; and
D) The mineralization reported is another major indicator that Fondaway Canyon may form
part of a larger gold mineralizing system that has yet to be revealed.
One drill hole is planned to test the median point between the two historic gold intercepts to
characterize the geological setting and gold mineralization in order to determine orientation and
design a follow-up drill program.
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Figure 3: Fondaway Canyon Pediment Target Area drill hole FCG20-01 looking South
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 sample s f r o m t h e f i e l d ( i . e . f i e l d
duplicate samples) were not submitted for analysis and the samp le 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 3 0 - g r a m s a m p l e . T h e Q A Q C
protocol employed by the laboratory was conducting duplicate an alyses 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 verif ied that the 2002 drill program
results disclosed used procedures that are non-NI 43-101 compli ant, however, the results have
been accurately transcribed from the original source and are considered suitable for their current
use.
Drill Permit
The Company is operating under an existing work permit filed by the previous operator and has
received approval from the United States Department of the Inte rior, Bureau of Land
Management, for the adjustments to the work plan that fully cov e r t h e c u r r e n t P h a s e 1 d r i l l
program at Fondaway Canyon.
Fondaway Canyon Gold Project 3D Video
To assist with the visualization of the scope and scale of the mineralizing system at Fondaway,
the Company has produced a video displaying in 3D the gold mine ralized domains used for
exploration targeting and mineral inventory. The Fondaway Cany on Gold Project video can be
found on the Company’s website on the Investors page under Vide os
(https://www.getchellgold.com/investors/videos/).
The exploration model in the video is constructed from drill hole sample intervals and shows two
mineralized domains: a higher grade gold domain based on drill intercepts grading >1 g/t Au and
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an enveloping lower grade domain based on drill intercepts grad ing >0.25 g/t Au. Contained
within the lower grade mineralized domain is a large historic resource (detailed below).
Of note, the modelled mineralization domains presented in the v ideo strictly represents an
exploration model. A qualified person for Getchell has not don e sufficient work to classify a
current mineral resource at Fondaway Canyon and the issuer is n ot treating the exploration
model as a mineral resource.
Fondaway Canyon Historic Resource Estimate
A 2017 Technical Report on the Fondaway Canyon Project, authore d by Techbase International
Ltd., reported a historical estimate of Indicated resources of 409,000 oz. Au contained in
2,050,000 tonnes grading 6.18 g/t and Inferred resources of 660 ,000 oz. Au contained in
3,200,000 tonnes grading 6.4 g/t, using a 1.8 m width cut-off and a cut-off grade of 3.43 g/t Au.
This historic resource estimate was completed by Techbase Inter national Ltd of Reno, Nevada,
and it is contained within a NI 43-101 report dated April 3, 2017 that was commissioned by Canarc
Resource Corp of Vancouver, B.C., Canada. The resource estimate was compiled only from drill
holes that could be validated (591 holes @ 49,086 m), a suffici ent amount to deem the historic
resource as reliable. Using Techbase software, a method of poly gons was used along each
mineralized shear vein. With a minimum 0.10 opt (3.43 g/t) Au and 6 feet (1.8 m) horizontal vein
width used as cut-off parameters, twelve mineralized shear vein s had sufficient composited
intercepts within the sulfide mineralization for the estimate. No capping or cutting of grades was
applied. The historical resource estimate used classifications i n a c c o r d a n c e w i t h N I 4 3 - 1 0 1
standards, namely, “indicated” and “inferred”. A review and/or re-calculation of the historic
resource is required by an independent Qualified Person to conf irm these as current resources
as defined by NI 43-101. A qualified person has not done sufficient work to classify the historical
estimate as current mineral resources; and the issuer is not tr eating the historical estimate as
current mineral resources.
Scott Frostad, P.Geo., is the Qualified Person (as defined in N I 43-101) who reviewed and
approved the content and scientific and technical information in the news release.
About Getchell Gold Corp.
The Company is a Nevada focused gold and copper exploration com pany trading on the CSE:
GTCH and OTCQB: GGLDF. Getchell Gold is primarily directing it s efforts on its most advanced
stage asset, Fondaway Canyon, a past gold producer with a signi ficant 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 explora tion projects, Star Point and Hot
Springs Peak. Getchell has the option to acquire 100% of the Fo ndaway Canyon and Dixie
Comstock properties, Churchill County, Nevada.
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The Company reiterates that its near-term strategy to advance i ts assets is not impacted by the
COVID-19 Corona virus. The Comp any continues to monitor the si tuation 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 [email protected].
Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.
+1 303 517 8764
The Canadian Securities Exchange has not reviewed this press re lease and does not accept responsibility
for the adequacy or accuracy of this news release. Not for dist ribution 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 infor mation includes, but is not l imited to, statements with respect to the
private placement and the completion thereof and the use of pro ceeds. 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, uncertain ties and other factors that may cause
the actual results to be materially different from those expres sed or implied by such forward-looking
statements or forward-looking information, including: the recei pt of all necessary regulatory approvals,
use of proceeds from the financing, capital expenditures and ot her costs, and financing and additional
capital requirements. Although management of Getchell have attempted to identify important factors that
could cause actual results to di ffer materially from those cont ained in forward-looking statements or
forward-looking information, there may be other factors that ca use 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 an ticipated 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 f orward-looking information that are
incorporated by reference herein, except as required by applicable securities laws.