Getchell Gold Corp. Intersects Gold-Arsenic Zone at Hot Springs Peak Project
Getchell Gold Corp. Intersects Gold-Arsenic Zone at Hot Springs Peak Project
Toronto, Ontario (Newsfile Corp. – August 7, 2019) – Getchell Gold Corp. (CSE: GTCH) ("Getchell
Gold" or the "Company") is pleased to provide an update on the drilling and assay results at the
Company’s 100% owned Hot Springs Peak Property (HSP) located in Humboldt County Nevada.
In this round of drilling the Company discovered a previously unknown, 26 meter gold -arsenic
zone at HSP which is indicative of a mineralized cap sourced from a deeper Carlin Style target
through “leakage” structures. These assay results are part of the now compl eted two phase
exploration drill program to test for a Carlin Style Gold System in two of the geophysical target
areas on the Project and is a follow up to the Phase 1 four-hole program that was completed last
Fall to test four target locations along the 4 kilometer trend of surface mines containing gold-
arsenic mineralization (results detailed in a Company press release dated February 25, 2019).
Drill Results
Hole HSP-RC5 intersected a gold-arsenic zone 26 meters in length containing an average of
0.133 grams per tonne (g/t) gold and a maximum of 0.69 g/t gold in one interval of 1.5 meters
(see following strip log graphic) under the mine shaft area that produced a dump aggregate
sample of 24 g/t (0.701 opt).
A second gold zone occurs above the main zone. Corresponding arsenic levels range from 486
ppm to greater than 10,000 ppm, and the entire 274 meters of drilling contains an average of 377
ppm arsenic. The gold zones occur near surface in the partially silicified and quartz veined oxide
zone and transitions into the black carbon-sulfide zone in the center of the gold mineralization.
Microscopic study for realgar and orpiment is planned for the interval containing greater than
10,000 ppm arsenic. Corresponding anomalous antimony also occurs throughout the drill hole
with the highest antimony of 619 ppm occurring in the gold zone. The geochemistry spreadsheet
analysis for the entire hole length for each hole drilled is available at
https://www.dropbox.com/sh/v2chwi08koe7wrh/AACD-OdfT8qyuB_0ef7GZbn4a?dl=0 and is the
basis for the findings in this news release.
Strip Log of First 125 meters of HSP-RC5
(the full strip log is available at
https://www.dropbox.com/sh/dt0qdbf3y1qnwvb/AABm3dSzcSRDEQxGg2B_RVu2a?dl=0)
The 26 meter gold-arsenic zone, contained within an argillite, phyllite and claystone, is indicative
of a mineralized cap with a deeper, concealed, Carlin Style target that mineralized the cap through
“leakage” structures. Future exploration of this gold system will focus on exploring for carbonate
host rocks along the downward continuation of the mineralized structures and laterally to the
southwest under pediment gravel cover where a high resistivity zone, possibly indicative of
limestone, approaches the surface (IP line 6 – see press release dated November 13, 2018). This
type of resistivity high was tested during the first round of drilling (hole HSP-RC2 – see news
release dated February 25, 2019) on the northeast end of the Project and intersected decalcified
and argillized carbonaceous limestone.
Future exploration will focus on the concealed target area, under gravel cover, southwest of and
under HSP-RC5 where the gold -arsenic mineralization has been discovered. A core drilling
program of several angle holes is in planning to test for mineralized carbonate host rocks lateral
and under the leakage mineralization.
Core hole HSP-C1 was a 783 meter test of a deeper resistivity zone with high chargeability and
intersected numerous carbon-rich quartz veined breccias and fuchsite (chrome mica) - listwanite
(nickel mica) altered mafic intrusions indicative of a Carlin Gold System (green alteration mineral
in photo, (press release dated July 3, 2019). However, a lack of sulfides and the absence of gold
and strong arsenic reduce the chance of finding a gold system in that area along with the fact that
claystone was the primary host rock. Future exploration at HSP has shifted to the concealed target
area southwest of and under HSP-RC5.
2018 Phase 1 Drilling (shown in white) and 2019 Phase 2 Drilling (shown in yellow)
The technical part of this news release was written by Timothy Master, a Qualified Person (QP)
for Getchell Gold Corp. as that term is defined in NI 43-101 and an independent technical advisor
for Getchell Gold. The following discussion is a further partial technical analysis of the drill results
that should be kept in mind. The drill plan, sample collection and drill sample recovery was
monitored by the QP for both the core and RC drilling and is of good quality for both with no lost
intervals. All geological logging was completed by the QP at the time of drilling, and all core
intervals were geologically selected at the time of logging. The RC intervals were selected to be
1.5 meters each (5 ft).
Additional Technical Analysis
Micas and clay alteration mineralogy in core were identified by physical properties and chemical
analyses using the process of elimination. Spectrographic analysis or x -ray diffraction methods
were not applied. Sulfur % was used to better estimate visual hand lens pyrite content with good
observational accuracy as shown on the spreadsheet analysis. A decision to interpret intrusive
rocks in the core hole as mafic-ultramafic prior to extreme felsic -argillic alteration is based on
calcium, magnesium, potassium, chromium and nickel contents. The absence of silver supports
Carlin Style mineralization with a silver/gold ratio of 10/1 in the highest gold zone. Hornfels
alteration of the claystone in the core- hole is based on the destruction of bedding, sedimentary
structures and increased hardness with bleaching. Samples for petrographic analysis were collect
from the core for positive identification of the hornfels and other white sericite although were not
submitted for lack of gold and the weak pathfinder elements of As, Sb and Hg in the core.
ALS Chemex prepared all samples submitted and performed all assay work in accordance with
standard industry practice. Assay results for inserted standards were well within acceptable QC
variance. Standards for gold were inserted into the assay stream ever 20 th sample and show a
variance of 0-9.4% with one sample varying by 214%. The analysis with 214% variance was not
in mineralized hole HSP-RC5. The gold zone in HSP-RC5 showed a variance of 0- 1% against
the 2 standards.
The true thickness of the 26 m gold interval in HSP-RC5 is not yet known, further drilling will be
required to determine the true thickness.
Gold grade determinations from the RC drill cutting can also be variable based on the size of the
pulp prepared for fire assay and the coarseness of the gold. The assays from the gold zones are
the minimum pulp preparation of 1 assay ton (30 gram sample). A 2 assay ton (60 gram sample)
gives a better representative gold value. Visible gold was observed in the mine dump above and
nearby the drill- hole and assayed 24 g/t (0.701 opt) gold from a statistically representative
aggregate sample of 20 plus pieces (NI 43-101 report). That discrepancy with the drill assays has
not been resolved adequately although a placer concentrating mechanism at the oxide/sulfide
weathering boundary is partly indicated with higher gold values in the oxide zone. This does not
negate the facts that the entire hole is mineralized with pathfinder elements and the gold
mineralization correlates to the pathfinder elements, unlike HSP-RC4 in the first round of drilling
that contained the same pathfinder elements without any gold.
Partial Spreadsheet Analysis of the Gold Zone in HSP-RC5 with Geochemical Associations to
Alteration and Pathfinder Elements
The geochemistry spreadsheet analysis for the entire hole length for each hole drilled is available
at https://www.dropbox.com/sh/v2chwi08koe7wrh/AACD-OdfT8qyuB_0ef7GZbn4a?dl=0.
About the Company
Getchell Gold is a CSE listed gold and copper exploration company. The Company’s exploration
projects are located in the highly mineralized Northern Nevada Rift. Drill targets have been
identified through field work, surface sampling and geophysical surveys. The Company is now in
the process of drill testing the identified targets. For further information visit www.getchellgold.com
or contact the Company at +1 303 517 8764.
For further information please visit the Company’s website at www.getchellgold.com or contact
the Company at +1 303 517 8764.
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.
This news release contains certain statements that constitute forward-looking statements as they
relate to the Company and its management. Forward -looking statements are not historical facts
but represent management's current expectation of future events, and can be identified by words
such as ""will", "intent", "anticipates" and similar expressions. Although management believes that
the expectations represented in such forward -looking statements are reasonable, there can be
no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks
and uncertainties that could cause actual future results, conditions, actions or events to diff er
materially from those in the forward-looking statements. If and when forward-looking statements
are set out in this new release, the Company will also set out the material risk factors or
assumptions used to develop the forward- looking statements. Except as expressly required by
applicable securities laws, the Company assumes no obligation to update or revise any forward-
looking statements. The future outcomes that relate to forward -looking statements may be
influenced by many factors, including, but not limited to: risks of future legal proceedings;
regulatory approval of the issuance of securities, and potential dilution.