September 22, 2021 (Investorideas.com Newswire) Assays from Getchell Gold’s first drill hole of 2021 support the company’s “high expectations” for its Fondaway Canyon gold project.
Promising assays from the first hole of the 2021 drill program at its flagship Fondaway Canyon project in Nevada confirm Getchell Gold Corp.’s (CSE: GTCH) (OTCQB: GGLDF) hypothesis of a significant gold mineralization system.
The first drill hole, FCG21-07 was drilled to establish the lateral continuity of the Colorado SW Extension zone. It intersected a higher-grade gold interval than the neighboring 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. This is the sixth consecutive drill hole to intersect a substantive interval of gold mineralization at the Central Area of Fondaway Canyon.
FC21-08, drilled from the same pad, was designed to further define the Colorado SW Extension zone and to test the extent of the mineralization along strike to the northwest in a previously undrilled area.
According to Getchell, there is a likelihood that these mineralized intercepts join with the high-grade Juniper zone encountered in holes FCG20-02 and FCG20-03. The pending results from theFCG21-08 will assist with the modelling.
“The continued confirmation of gold grade and continuity of the thick zones of mineralization support our high expectation for the Fondaway Canyon project and the balance of the drill program through to the end of the year,” Getchell President Mike Sieb said in a June 1 news release.
Building on 2021 Drill Program
Five of the six holes drilled in 2020, all returning gold intercepts, were within the Central Area:
- FCG20-02:9 g/t Au over 43.5 m including 4.2 g/t Au over 14.9 m; and 1.1 g/t Au over 12.3 m
- FCG20-03:3 g/t Au over 21.1 m including 8.7 g/t Au over 9.4 m and including 14.6 g/t Au over 3.4 m; and 2.0 g/t Au over 49.0 m (188.3 to 237.3m)
- FCG20-04:6 g/t Au over 9.8 m (main Half Moon Shear vein); 2.7 g/t Au over 20.5 m; and 6.3 g/t Au over 3.3 m
- FGC20-05:8 g/t Au over 90.0 m including 3.0 g/t Au over 45.3 m and including 4.4 g/t Au over 11.1 m; 6.3 g/t Au over 3.3 m; and 0.6 g/t Au over 28.0 m
- FGC20-06:5 g/t Au over 37.7 meters including 2.1 g/t Au over 19.2 meters; and 1.1 g/t Au over 38.3 meters including 2.5 g/t Au over 10.6 meters
The remaining hole, FCG20-01, drilled 2.3 km to the west at the Pediment target area, was lost within a fault zone before reaching the target depth.
“The stellar results from the 2020 drill program blew the potential of Fondaway Canyon wide open,” Sieb said. “The revised geological interpretation represents more than a doubling in the projected downdip extent of the gold mineralization from previous geological models and has provided ample target areas for the 2021 drill program to further delineate and expand upon our recent discoveries.”
About Fondaway Canyon
Fondaway Canyon, acquired by Getchell in January 2020, is an advanced-stage gold project comprising 170 unpatented lode claims in Churchill County, Nevada. The project area covers 12 known veins, including five mineralized areas: Colorado, Halfmoon, Paperweight, Silica Ridge and Hamburger Hill. The property was the subject of multiple exploration campaigns in the late 1980s and early 1990s, resulting in 591 holes totaling nearly 50,000 meters.
A 2017 technical report showed an estimated 409,000 oz of indicated gold resources grading 6.18 g/t Au and 660,000 oz inferred grading 6.4 g/t Au – for a combined 1.1 million oz. As much as 80% of these ounces are within Colorado, Paperweight, and Halfmoon.
Mineralization is contained in a series of steeply dipping en-echelon quartz-sulfide shears outcropping at surface and extending laterally over 1,200 meters. There are drill-proven depth extensions to more than 400 meters.
2021 Drill Program and New Permits
The company’s goals in 2021 are to increase confidence in the geological model to support an updated resource estimate and to continue stepping out from known gold intercepts to expand the geological model.
The drill program comprises a series of holes targeting the North Fork Zone. It started with drill hole FCG21-09, which is nearing completion, and will circle back to expand on the Juniper and Colorado SW Extension gold mineralized zones. FCG21-07 and FCG21-08 were drilled southwest from the Colorado Pit to expand on the high-grade gold Juniper zone and the thick Colorado SW Extension zone intersected by holes FCG20-02 and FCG20-03. Both functioned as a step-out to the high-grade Juniper zone and reached their targeted depths.
Getchell has obtained permits to add three drill pads at Fondaway. This would allow the company to obtain full drill coverage to define the Central target area and to have an additional drill hole at the Pediment target area.
The permitted Central target area hosts a sizable historic resource and is where the 100-metre-thick Colorado SW Extension and the North Fork zones were discovered in 2020. Some 4,000 meters of infill and step-out drilling is slated for the Central target area, where the objective is to delineate and expand on the mineralization discovered in 2020.
The newly permitted Pediment target area is the site of two historic drill holes that each intercepted broad gold-bearing intervals in 2002 and has yet to be properly characterized.
As the drill campaign progresses, additional drill pads and access roads will be permitted as required, Getchell said.
The 2021 drill program at Fondaway Canyon could be a transformative step in achieving Getchell’s goals. The first hole has intersected substantive gold mineralization, marking the company’s sixth consecutive “hit.”
With more drilling to be completed, Getchell shareholders can look forward to more pleasant surprises from this advanced stage project this year.
Meanwhile, the company is planning a maiden drill program at its high-grade Star copper-gold-silver project, located north of Fondaway. This should begin after it completes the planned series of holes in the Central and Pediment target areas. Following the Star drill program, which is currently slated for early October, the Getchell team will return to Fondaway Canyon for more drilling.
1) Diane Fraser compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor/employee. He/she or members of his/her household own securities of the following companies mentioned in the article: None. He/she or members of his/her household are paid by the following companies mentioned in this article: None. His/her company has a financial relationship with the following companies referred to in this article: None.
2) As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Getchell Gold Corp. Please click here for more information. An affiliate of Streetwise Reports is conducting a digital media marketing campaign for this article on behalf of Getchell Gold Corp. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Getchell Gold Corp., a company mentioned in this article.
This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com