Getchell hits substantive gold mineralization from first hole of 2021 drill program at Fondaway Canyon

2021.08.12

As drilling continues at its flagship Fondaway Canyon project in Nevada, Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) has now received assays for the first hole of the 2021 drill program.

The results certainly did not disappoint either, further confirming the company’s hypothesis of a significant gold mineralization system at Fondaway in the #1 ranked mining region in the world.

Drill Hole FCG 2021 Results

The first drill hole of the 2021 program, FCG21-07 was drilled southwest from the Colorado Pit (see map below).

Two holes from the 2020 drill program (FCG20-02 and FCG20-03) were 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.

FCG21-07 was drilled between these two 2020 gold intercepts to establish the lateral continuity of the Colorado SW Extension zone across this broad distance. It intersected a higher-grade gold interval than the neighbouring 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 represents the sixth consecutive drill hole that has intersected a substantive interval of gold mineralization at the Central Area of Fondaway Canyon.

It is also the first hole drilled in 2021 to start tying together the broad and thick zone of gold mineralization, modelled 800m downdip from the Colorado Pit, discovered during the 2020 drill program.

Moreover, there were three notable gold intercepts higher up in hole FCG21-07: 2.9 g/t Au over 3.2m, 2.2 g/t Au over 5.1m, and 3.8 g/t Au over 3.2m.

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 the second hole (FCG21-08) will assist with the modelling.

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 mineralization along strike to the NW in an area that has not previously been drilled.

“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 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 stated in a news release.

Fondaway Canyon Drill Program

As announced in early June, Getchell is currently completing a 4,000-metre Phase 1 drill program at the Fondaway Canyon gold project. Two drill holes of the 2021 program, FCG21-07 and FCG21-08, have been completed so far.

Both drill holes were drilled southwest from the Colorado Pit to expand on the high-grade gold Juniper zone and the thick Colorado SW Extension zone recently intersected by holes FCG20-02 and FCG20-03.

The 3D gold mineralization model on the NE-SW Colorado Pit to Pack Rat section is shown below.

FCG21-07 and FCG21-08 were designed as 40-metre respective lateral and vertical step-outs to the Colorado SW Extension interval intersected in FCG20-02. Both drill holes similarly functioned as a step-out to the high-grade Juniper zone and reached their targeted depths.

As previously planned, the drill will commence a series of holes targeting the North Fork Zone,  starting with drill hole FCG21-09, which is nearing completion, before circling back to continue expanding on the Juniper and Colorado SW Extension gold mineralized zones.

New Drill Permits

It’s also worth noting that Getchell has recently been granted permits to add three drill pads to the existing exploration program at Fondaway.

This would allow the company to obtain full drill coverage to continue defining the Central Target Area through the foreseeable future, as well as to have one drill hole at the Pediment Target Area located on the westernmost extent of the East-West gold mineralization corridor.

The permitted Central Target Area is host to a sizable historic resource and is where the 100-metre-thick Colorado SW Extension and the North Fork zones were discovered in late 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 at Fondaway progresses, additional drill pads and access roads will be permitted as required, Getchell said.

About Fondaway Canyon

Acquired by Getchell in January 2020, Fondaway Canyon is an advanced-stage gold project comprising 170 unpatented lode claims located in Churchill County, Nevada.

The property has been the subject of multiple exploration campaigns in the late 1980s and early 1990s. Records show 591 holes totaling nearly 50,000 metres have been drilled on the property.

The project area currently covers 12 known veins, including five mineralized areas — Colorado, Halfmoon, Paperweight, Silica Ridge and Hamburger Hill.

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, with the remainder found in parallel veins or splays off the main veins.

Mineralization at Fondaway is contained in a series of steeply dipping en-echelon quartz-sulfide shears outcropping at surface and extending laterally over 1,200 metres, with drill-proven depth extensions to greater than 400 metres.

Drilling by Getchell last year demonstrated the identification of thick zones of gold mineralization, interpreted as a downdip continuation of surface mineralization; and high-grade mineralized structures with notable widths within the mineralized system.

Five of the six holes drilled in the 2020 program were within the Central Area at Fondaway Canyon, all returning gold intercepts (locations shown in map below).

Highlight results of these five drill holes are as follows:

• FCG20-02: 1.9 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: 4.3 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: 8.6 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: 1.8 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: 1.5 g/t Au over 37.7 metres including 2.1 g/t Au over 19.2 metres; and 1.1 g/t Au over 38.3 metres including 2.5 g/t Au over 10.6 metres.

The remaining hole, FCG20-01, drilled 2.3 km to the west at the Pediment Target Area, was lost within a fault zone prior to reaching the target depth. However, the last series of samples at the bottom of the hole showed an increase in gold values, potentially indicative of the approaching targeted gold zone.

To follow up on these promising results, Getchell is executing an even bigger drill program in 2021.

As mentioned, some 4,000 metres of drilling is slated for the Central Area of Fondaway Canyon, where the objective is to conduct infill and step-out drilling to further delineate and expand on the mineralization discovered in 2020.

“The stellar results from the 2020 drill program blew the potential of the Fondaway Canyon gold project wide open,” president Mike Sieb stated in the June 1 news release.

“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,” he added.

The hope, as Getchell states, is that sufficient infill drilling will be done to increase confidence in the geological model to support an updated resource estimate. A second goal is to continue stepping out from known gold intercepts to expand the geological model.

Conclusion

The 2021 drill program at Fondaway Canyon could be a transformative step in achieving those goals. The first hole has already intersected substantive gold mineralization, marking the sixth consecutive “hit” for the company.

With more drilling to be completed, Getchell shareholders can look forward to more pleasant surprises from this advanced stage project later this year.

Meanwhile, the company is also planning a maiden drill program at its high-grade Star copper-gold-silver project, located to the north of Fondaway. This should begin right after it completes the planned series of holes in the Central and Pediment target areas.

Following the Star drill program, the Getchell team will return to Fondaway Canyon for more drilling. Stay tuned.

Getchell Gold
CSE:GTCH, OTCQB:GGLDF
Cdn$0.57, 2021.08.10
Shares Outstanding 74m
Market cap Cdn$40m
GTCH website

Richard (Rick) Mills
aheadoftheherd.com
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