Getchell Gold Corp. Intersects 3.0 g/t Au over 33.0 Metres In First Hole of the 2021 Drill Program at Fondaway Canyon, Nevada
CSE: GTCH
OTCQB: GGLDF
1
Getchell Gold Corp. Intersects 3.0 g/t Au over 33.0 Metres
In First Hole of the 2021 Drill Program at Fondaway Canyon, Nevada
Toronto, Ontario – August 10, 202 1 – Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or
the "Company") is pleased to present the results from the first drill hole of the 2021 drill program at the
Company’s flagship Fondaway Canyon Gold Project in Nevada (“Fondaway” or “Project”).
Key Highlights
x 3.0 g/t Au over 33.0m in FCG21-07, the first hole of the 2021 drill program at Fondaway Canyon;
x Represents a higher-grade gold mineralized interval than adjacent holes;
x Establishes lateral continuity of the Colorado SW Extension gold zone;
x Is the sixth consecutive hole in the Central Area that has intersected substantive gold mineralization
by the Company;
x Results for hole FCG21-08, testing the extent of the Colorado S W Extension zone on strike to the
NW in an area not previously drilled, are pending;
x Drill holes FCG21-07 and FCG21-08 were designed to start joinin g and demonstrate continuity of
the previously drilled and widely spaced Colorado SW Extension mineralized zone drill intercepts
along its 800m down-dip modelled length; and
x The Colorado SW Extension zone remains open along strike and to depth.
“This is a great start to the Company’s 2021 drill program. The continued confirmation of gold grade and
continuity of the thick zones of mineralization support our hig h expectation for the Fondaway Canyon
project and the balance of the drill program through to the end of the year.” stated Mike Sieb, President,
Getchell Gold Corp.
Fondaway Canyon 2021 Drill Program
The Company is currently drilling its Phase One 4,000 metre 2021 drill program at the Fondaway Canyon
Gold Project as announced on June 1, 2021.
Fondaway is an advanced stage gold property with a large histor ic resource located in Churchill County,
Nevada comprising 171 unpatented lode claims totaling 1,186 hec t a r e s ( 2 , 9 3 2 a c r e s ) . G o l d w a s f i r s t
discovered in Fondaway Canyon in 1977 and over the intervening 40+ years has been the subject of
multiple exploration campaigns along a 3.5km E-W gold mineraliz ed corridor (Figure 1) totaling 735
reverse circulation and core drill holes, small-scale open pit mining of the oxidized zone at surface, and
underground development limited to exploration and bulk sampling.
The historic resource estimate*, comprised of Indicated resourc es 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, is predominately localized on the Paperweight, Half Moon, and Colorado gold zones within
the Central Area of the Project.
CSE: GTCH
OTCQB: GGLDF
2
Figure 1: Fondaway Canyon Plan Map showing gold mineralized corridor.
Drill Hole FCG 2021 Results – Colorado SW Extension Zone
The first drill hole of the 2021 program, FCG21-07 was drilled southwest from the Colorado Pit (Figure 2).
Two holes from the 2020 drill program, FCG20-02 and FCG20-03, w ere drilled from the same pad. The
gold intercepts encountered in holes FCG20-02 and FCG20-03, 1.9 g/t Au over 43.5m and 2.0 g/t Au over
49.0m respectively, are 75m apart from each other and FCG21-07 was drilled between these two 2020
gold intercepts to establish the lateral continuity of the Colo rado SW Extension zone across this broad
distance.
FCG21-07 intersected a higher-grade gold interval than the neig hbouring drill holes, grading 3.0 g/t Au
over 33.0m of uninterrupted mineralization including an interval grading 7.8 g/t Au over 4.6m . The
highlighted gold intervals from hole FCG21-07 and select adjacent holes are shown in Table 1.
Hole FC21-07 represents the sixth consecutive drill hole that has intersected a substantive interval of gold
mineralization at the Central Area of Fondaway Canyon. It is a lso the first hole drilled in 2021 to start
tying together the broad and thick zone of gold mineralization, modelled 800m down dip from the
Colorado Pit, discovered during the 2020 drill program (Figure 3).
CSE: GTCH
OTCQB: GGLDF
3
Figure 2: Fondaway Canyon Central Area Plan Map showing 2021 drill hole locations.
Figure 3: Fondaway Canyon 3D Gold Domain Model – Colorado Pit to Pack Rat (NE-SW) Section**
CSE: GTCH
OTCQB: GGLDF
4
Table 1: Colorado SW Extension Zone – 2021 and 2020 Gold Grade Interval Highlights
Hole FC21-08 was drilled from the same pad and was designed to further define the Colorado SW
Extension zone and start testing the extent of the mineralizati on along strike to the NW in an area that
has not previously been drilled.
Figure 4 shows highlighted holes FCG20-02, FCG20-03, FCG21-07, and FCG21-08 in long section (i.e.
perpendicular to Figure 3) for a better perspective to demonstrate:
i) the relative distance between the drill hole traces and gold intercepts;
ii) the good body of gold mineralization along strike to the SE (to the right in Fig 3); and
iii) the untested area and lack of drilling along strike to the NW (to the left in Fig. 3).
The assay results for hole FCG21-08 are pending.
Drill Hole FCG 2021 Additional Results
There were three notable gold intercepts higher up in hole FCG21-07 (Table 1):
i) 2.9 g/t Au over 3.2m from 143.3m to 146.5m down hole;
ii) 2.2 g/t Au over 5.1m from 155.6m to 160.7m down hole; and
iii) 3.8 g/t Au over 3.2m from 167.2m to 170.4m down hole.
There is a likelihood that these mineralized intercepts join with the high-grade Juniper zone encountered
in holes FCG20-02 and FCG20-03 (shown in Figure 4 and detailed in the Company’s July 13, 2021, news
release). The pending results from hole FCG21-08 will assist with the modelling.
Drill Hole Au
(g/t)
Interval
(m)
From
(m)
To
(m) Drill Hole Au
(g/t)
Interval
(m)
From
(m)
To
(m)
FCG20-002 2.5 8.5 41.0 49.5 FCG20-005 2.1 4.0 62.5 66.5
FCG20-002 6.2 21.9 106.1 128.0 FCG20-005 0.6 28.0 119.0 147.0
including 9.6 12.0 116.0 128.0 FCG20-005 6.3 3.3 165.7 169.0
including 20.4 3.2 120.5 123.7 FCG20-005 1.8 90.0 177.5 267.5
FCG20-002 1.9 43.5 181.0 224.5 including 3.0 45.3 222.2 267.5
including 4.2 14.9 192.1 207.0 including 4.4 11.1 241.4 252.5
FCG20-002 1.1 12.3 265.6 277.9
FCG20-006 0.7 13.2 63.2 76.4
FCG20-003 1.5 17.1 2.7 19.8 FCG20-006 1.5 37.7 168.0 205.7
FCG20-003 5.4 3.0 39.0 42.0 including 2.1 19.2 181.0 200.2
FCG20-003 4.3 21.1 148.7 169.8 FCG20-006 1.1 38.3 243.5 281.8
including 8.7 9.4 159.6 169.0 including 2.5 10.6 245.0 255.6
including 14.6 3.4 163.4 166.8
FCG20-003 2.0 49.0 188.3 237.3 FCG21-007 2.9 3.2 143.3 146.5
including 3.6 12.9 205.1 218.0 FCG21-007 2.2 5.1 155.6 160.7
including 3.4 7.0 224.9 231.9 FCG21-007 3.8 3.2 167.2 170.4
FCG20-003 4.4 2.2 262.3 264.5 FCG21-007 3.0 33.0 209.1 242.1
FCG20-003 1.2 4.9 277.1 282.0 including 7.8 4.6 214.2 218.8
CSE: GTCH
OTCQB: GGLDF
5
Figure 4: Fondaway Canyon 3D Long Section – Colorado SW Extension Zone looking NE, 170m thick slice
2021 Fondaway Canyon Drill Program Update
During July the drilling operation was disrupted for a three-we ek period due to a manufacturing error.
The issue has been resolved, the drill is fully operational, and we look forward to high productivity through
the remainder of the year. The three-week interruption will cause a comparative delay for the receipt of
CSE: GTCH
OTCQB: GGLDF
6
results for drill hole FCG21-09, but this is a minor issue that will not impede accomplishing the objectives
set for 2021.
Drill hole FCG21-09, located 300m to the SE of FCG21-07, is targeting the thick North Fork Zone discovered
in 2020 down dip of the Half Moon and Paperweight shear veins. Drill hole FCG21-09 is nearing completion
and will shortly be shipped to the lab for analysis. After completing a planned series of holes in the Central
and Pediment target areas, the drill will mobilize 60kms to the north for the maiden drill program at the
Company’s high-grade Star Cu-Au-Ag project.
After the completion of the Star drill program, the drill will return to Fondaway Canyon for the balance of
the year.
Table 2: Colorado Pit Collared Drill Holes - Orientation and Length
*Fondaway Canyon Historic Resource Estimate
The historic resource estimate was completed by Techbase Intern ational 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 sufficient amount to deem t he historic resource as reliable. Using
Techbase software, a method of polygons was used along each mineralized shear vein. With a minimum
0 . 1 0 o p t ( 3 . 4 3 g / t ) A u a n d 6 f e e t ( 1 . 8 m ) h o r i z o n t a l v e i n w i d t h used as cut-off parameters, twelve
mineralized shear veins had sufficient composited intercepts wi thin the sulfide mineralization for the
estimate. No capping or cutting of grades was applied. The his torical resource estimate used
classifications in accordance with NI 43-101 standards, namely, “indicated” and “inferred”. A review
and/or re-calculation of the historic resource is required by a n independent Qualified Person to confirm
these as current resources as defined by NI 43-101. A qualifie d person has not done sufficient work to
classify the historical estimate as current mineral resources; and the issuer is not treating the historical
estimate as current mineral resources.
** The modelled gold domain highlights areas where gold interva ls have been geologically linked and
projected. The modelled gold domain is solely for exploration planning purposes and does not indicate
a mineral resource. A qualified person has not done sufficient w o r k t o c l a s s i f y a c u r r e n t m i n e r a l
resources estimate at Fondaway Canyon.
Scott Frostad, P.Geo., is the Qua lified Person (as defined in N I 43-101) who reviewed and approved the
content and scientific and technical information in the news release.
The 2020 and 2021 drill core was cut at Bureau Veritas Laborato ries’ (“BVL”) facilities in Sparks, Nevada,
with the samples analyzed for gold and multi-element analysis i n BVL’s Sparks, Nevada and Vancouver,
BC laboratories respectively. Gold values were produced by fir e assay with an Atomic Absorption finish
CSE: GTCH
OTCQB: GGLDF
7
on a 30-gram sample (BV code FA430) with over limits re-analyze d using method FA530 (30g Fire Assay
with gravimetric finish). The multi-element analysis was perfo rmed by ICP-MS following aqua regia
digestion on a 30g sample (BV code AQ250). Quality control measures in the field included the systematic
insertion of standards and blanks.
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 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, the Star high-grade Cu-Au-Ag project and Hot Springs Peak. Getchell has the
option to acquire 100% of the Fondaway Canyon and Dixie Comstoc k 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 [email protected].
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.
Certain information contained herein constitutes “forward-looki ng 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. Although management of Getchell have attempted to identify
important factors that could cause actual results to differ mat erially from those contained in forward-looking
statements or forward-looking information, there may be other f actors 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 fro m 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.