PI Global Investments

Getchell Gold Corp. Intersects Shallow High-Grade Gold at North Fork Zone Returning 17.7 g/t Au over 9.9 m within a Broader 120-Metre Mineralized Interval, Fondaway Canyon, NV

Vancouver, British Columbia–(Newsfile Corp. – July 26, 2022) –  Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (“Getchell” or the “Company”) is pleased to provide the remaining results for drill hole FCG22-17 that targeted the high-grade North Fork zone at the Fondaway Canyon gold project in Nevada.

Key Highlights

  • Gold mineralized zone encountered at shallow depth and spanning 120 m downhole;

  • High-grade gold mineralization of 17.7 g/t Au over 9.9 m within a broader zone grading
    5.4 g/t Au over 51.9 m was intersected starting at 66.1 m downhole; and

  • Followed by two intervals grading 2.0 g/t Au over 22.9 m and 1.9 g/t Au over 15.9 m.

“Drill hole FCG22-17 reaffirms the high-grade, high-concentration, and broad-expanse of gold mineralization at the North Fork zone.” states Mike Sieb, President, Getchell Gold Corp. “Every drill hole continues to contribute to our understanding and modelling, as well as continues to push the boundaries of the mineralizing system at Fondaway Canyon.”

Drill Hole FCG22-17

Drill hole FCG22-17, the first drill hole of the 2022 drill program at Fondaway Canyon (the “Project”), is the first in a series of holes tasked with delineating the high-grade gold discovered by FCG21-16, the last drill hole of the 2021 drill program.

FCG21-16 encountered a high-grade gold interval grading 6.3 g/t Au over 50.7 m (117.5-168.2 m drill depth) that includes 10.4 g/t Au over 25.0 m (139.9-164.9 m) (Company news release dated February 15, 2022). This latter interval contained 12 samples reporting >10 g/t Au revealing strong internal high-grade gold consistency.

FCG22-17 was collared on the canyon floor, at the junction of Fondaway Canyon and the North Fork branch, on the same drill pad as hole FCG21-16 (Figures 1 and 2). FCG22-17 was designed to target the North Fork mineralized zone as a 25m step out to the northwest from the high-grade intercept encountered in FCG21-16.

FCG22-17 intersected significant gold mineralization grading 5.4 g/t Au over 51.9 m at a shallow down-hole depth of 66.1 m including an exceptionally high-grade gold zone grading 17.7 g/t Au over 9.9 m (94.7-104.6 m) (Figures 3 and 4). This latter interval contains ten consecutive samples reporting >9 g/t Au revealing strong internal high-grade gold consistency (Previously reported in Company news release dated June 15, 2022).

The 51.9 m interval was closely followed by two intervals grading 2.0 g/t Au over 22.9 m (129.1-152.0 m) and 1.9 g/t Au over 15.9 m (169.9-185.8 m) that combined for an overall gold mineralized zone spanning 120 m downhole.

Figure 1: Fondaway Canyon Plan Map highlighting Getchell’s 2020, 2021, and 2022 drilling.

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Figure 2: Fondaway Canyon Plan Map highlighting Getchell’s drill holes relative to previous drilling.

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Figure 3: Cross-section highlighting gold intervals in drill holes FCG21-16 and FCG22-17.

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Figure 4: Cross-section highlighting individual sample gold assays in drill holes FCG21-16 and FCG22-17.

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Table 1: Drill Hole FCG22-17 Notable Gold Intervals

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Fondaway Canyon Drill Program Update

Five holes have been completed (FCG22-17 to 21) to date, totalling 1,867m, during the 2022 drill program at Fondaway Canyon.

Holes FCG22-18 and 19, collared on the same pad as FCG22-17, were respectively designed to test the immediate up-dip and down-dip extent of the mineralization encountered in hole FCG21-16, with FCG22-18 testing the further extent of the North Fork gold zone to the northeast in an area absent of any drilling.

FCG22-20, a vertical drill hole, was designed to test the mineralization directly below the Colorado Pit in an area relatively absent of drilling.

FCG22-21, stationed midway up the north slope of Fondaway Canyon, was designed to crosscut the Colorado SW zone of mineralization to assist with modelling and to test the extents of the mineralization to the northwest. Additional holes are planned from this setup but due to the need to expand the drill pad and sump to accommodate additional drilling, the drill has been moved back to the canyon floor in the interim to continue to expand on the North Fork gold zone.

Star Cu-Au-Ag Project Drill Program Update

Drill hole SG22-01, the first drill hole at the Star project, targeting a large multi geophysical survey line anomaly underlying the high-grade copper, gold, and silver mineralization at surface at the Star South occurrence has been completed to depth with assays pending.

SG22-02, situated four kilometres to the north and targeting a large geophysical anomaly underlying the past producing Star Point copper mine, is in progress.

The majority of the 2022 drill core from both projects is in the lab with assays are pending.

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 2022 drill core is being processed using the same methods as the 2020 and 2021 drill programs. 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.

Highlighted drill intervals are based on a 0.25 g/t Au cut-off, minimum interval lengths of 3.3 metres (10 feet), and a maximum of 3.3 metres of internal dilution, with no top cut applied. All intervals are reported as downhole drill lengths and additional work is required to determine the true width.

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 and on the Star project, a past high-grade copper, gold, and silver small-scale producer. Complementing Getchell’s asset portfolio is Dixie Comstock, a past gold producer with a historic resource and one earlier stage exploration project, Hot Springs Peak (Au). Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.

For further information please visit the Company’s website at www.getchellgold.com or contact the Company by e-mail at info@getchellgold.com or by phone at +1 647 249-4798.

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 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: use of proceeds from the financing 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131891

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