Resumption of Trading and Update on RC Drill Program
Getchell Gold Corp. Resumes trading on CSE and Updates on Phase 1 Drill Program at the
Hot Springs Peak Project
Burlington, Ontario--( December 3, 2018) - Getchell Gold Corp. (CSE: GTCH) ("Getchell Gold"
or the "Company") (formerly Wabi Exploration Inc.) announces that the CSE has approved the
Company for listing following a fundamental change. The company name and trading symbol
will remain the same. Below, the Company provides an update on its maiden drill program at the
Hot Springs Peak Project and on its IP-Resistivity Survey at Star Point and Star South. All of the
Company’s mining properties are in northern Nevada.
Hot Springs Peak Project Drill Program
The Hot Springs Peak Project is located northeast of Winnemucca, Nevada, in the highly
mineralized Northern Nevada Rift. The press release dated November 13, 2018 detailed the
initial 4-hole reverse circulation drill plan for the Hot Springs Peak Project. The Company is
pleased to announce that drilling commenced on Tuesday November 13, 2018, a short break was
taken for the Thanksgiving Holiday, and drilling resumed on Tuesday November 27th. The drill
is currently being set up on drill site #4 adjacent to turquoise-cinnabar prospects.
The drill program was planned on four locations along a 3 kilometer trend to understand elevated
chargeability and resistivity responses detected along a trend of historic mine shafts and
prospects. Chip samples from the drill holes have been and are in the process of being delivered
to the laboratory for assay and the Company awaits the results. To date, three of four holes have
been drilled into the upper levels of the chargeability highs.
The drill program was designed to target 4 altered-mineralized areas of the project containing
variable host rock compositions. This initial drill program will begin the process of
understanding the geophysical responses below the surface alteration and gold-copper
mineralization as discussed in the Phase 2 plan of the NI 43-101 report filed on SEDAR
(https://bit.ly/2JJYTzR). The following set of cross sections show the initial planned drilling of
the geophysical responses that can be generated from alterations containing gold mineralization.
Management cautions that these types of geophysical responses can be generated from rock
compositions other than a gold mineralized system. However, multiple elements of a gold
mineralized system occur at the Hot Springs Peak surface which includes gold-arsenic
mineralization, widespread hornfels alteration and silicification.
The gold in a Carlin Style system is very closely associated with arsenic in the form of arsenian-
pyrite. These gold system elements are overlying and adjacent to the geophysical responses and
follow the outline of the responses in the sub-surface. A hydrothermal alteration zone of silica-
sulfide replacement and abundant quartz veining has been encountered in the central project area
at Hot Springs Peak at drill site #1. Quartz veined limestone and quartz-sericite pyrite altered
dikes were encountered at drill site #3.
Project Map showing all the elements of the surface alteration, mineralization and
geophysical responses. The drill sequence for the first phase of drilling is shown as
locations numbered 1-4 and discussed as follows.
The first hole targeted the central structural intersection area of the geophysical responses. This
hole was designed to test both the high chargeability and resistivity within the intense magnetic
low area, reflecting what Getchell Gold believes to be a continuation of the surface hornfels
alteration into the sub-surface where the high chargeability indicates the presence of sulfide
mineralization (Cross Section 1). Hole #1 was an attempt to drill into the top of the central zone
of the system where the chargeability and resistivity high responses are 1,000 meters wide, as
shown on the cross section.
Cross Section 1
The central structural intersection area of the alteration system containing a 1,000 meter
wide chargeability high. Chargeability highs commonly indicate sulfide mineralization
when occurring in a mineralized system. The arrow shows the planned drill test to a depth
of 500 meters. Readers are cautioned that carbon and graphite in sedimentary rocks have
also been known to generate high chargeability responses and may or may not be
associated with Carlin Style gold mineralization.
Drill hole #2 was designed to test the chargeability high geophysical responses below and
adjacent to the 0.701 ounce per ton surface gold mineralization on the southwest end of the
system (Cross Section 2). Drill hole #3 was intended to test the northeast end of the system
where limestone is expected to be intersected with the chargeability high geophysical responses
(No cross section shown).
These 3 initial drill tests are on a geophysical response that is 2 x 3 kilometers in size, and are at
best a preliminary test of the upper part of the system. Management has already planned the
second phase of drilling, where the surface gold-arsenic mineralization will be tested with an
angle hole under the historic mine shafts, crossing the mineralized structures and into the margin
of the high geophysical responses, to better understand the connection between the surface
mineralization and the geophysical responses.
Cross Section 2
The Southwest end of the alteration system containing surface gold. The high chargeability
response is commonly found with sulfide mineralization. The right arrow shows the
planned drill test to 300 m. The northwestern hole is an intended follow-up hole to be
angled under and across the gold-arsenic mineralized structures and into the margin of the
chargeability high response.
A 4th drill test is planned 2 kilometers south of the first 3 drill tests and on a different style of
mineralization containing turquoise, cinnabar and surface copper mineralization of 3.86% (Cross
Sections 3 and 4) (see Getchell’s press release of July 10, 2018). This mineralization occurs in a
mafic volcanic breccia that returned high chargeability and resistivity geophysical responses
similar to the first 3 drill tests.
Cross Section 3
Hole #4 shows planned drilling into the chargeability high below 3.86% surface copper
containing turquoise. The chargeability high is a response commonly but not always
associated with sulfide mineralization.
Cross Section 4
Corresponding resistivity high under surface copper and along a fault zone in limestone.
The high resistivity is a response common to silicification in limestone associated with
mineralization. The responses are 400 meters wide and begin at 125 meters depth.
Buena Vista Project
The Buena Vista Project consists of five mining assets, namely, Star Point, Star South, Gold
Knob, Jasperoid Peak, and French Boy. Getchell Gold carried out an IP-Resistivity Survey at
Star Point and Star South. The results have been received and have an interpretive connection
with the copper and copper-gold mineralization.. A new (Carlin Style) target has been identified
in the project area associated with surface marble alteration containing gold mineralization.
Caution is advised when interpreting IP responses as possible sulfides associated with intrusions
or carbon graphite responses in sedimentary rocks. A more complete release of this information
and drill targets will be made at a later date.
The technical part of this report was written by Timothy Master, author of the HSP Report and a
Qualified Person for Getchell Gold Corp. as that term is defined in NI 43-101. Sample data
disclosure has been verified as conforming to NI 43-101, 3.2 (a) to (c) where the QP collected
the representative samples of the sites and cross checked the different analytical methods used to
confirm consistent results between ICP and assay results. Gold values greater than 10 ppm are
analyzed with a gravimetric finish. Preparation of samples were performed by ALS Minerals
Labs, according to certified standards for reporting results. Internal standards were completed by
ALS. All samples were assayed by Fire-AA finish for gold and silver. Inductively Coupled
Plasma (ICP) analyses were completed on all samples for other metals. Copper analyses greater
than the ICP upper detection limit of 1% copper are routinely assayed for copper per cent.
Readers are cautioned that sampling is selective by nature and represents only the site sampled
and not intended to be extended over large areas.
For further information contact:
William Wagener, CEO
+1 303 517 8764
Peter M. Clausi, President
1 416 890 1232
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
"believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and
similar expressions. Although management believes that the expectations represented in such
forward-looking s tatements 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 differ 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 f actors, including,
but not limited to: reliance on key personnel; risks of future legal proceedings; income tax matters;
availability and terms of financing; distribution of securities; effect of market interest rates on price
of securities, and potential dilution.