As the year comes to a close, I find myself inspired by the impressive drill results and the heightened potential of the Fondaway Canyon gold project.
The Company has drilled 16 holes through its 2020 and 2021 drill programs, with the results of 10 holes released to date representing the most consistently successful drill campaign that I have been directly involved with during my career.
Our first year of exploration at Fondaway Canyon in 2020 was a truly transformational year for the Company with the validation of a new geological model evidenced through the discovery of three new gold zones: the Colorado SW, the North Fork, and the Juniper zones. The early wide-spaced drilling demonstrated the presence of high-grade shear veins enveloped in thick bands of mineralization and extended the mineralization model a remarkable 800 metres down dip from surface.
That set the stage for 2021, where the focus of this year’s drilling was to further delineate and expand upon the mineralization discovered in 2020. There were ample areas to target with the mineralization open along strike and down-dip.
The 2021 drill program remained focused within the 1 x 1 kilometre Central Area, a nexus for the gold mineralization and host to a near surface sizable historic resource in addition to the extensive gold zones discovered in 2020. In 2021, ten drill holes have been completed, FCG21-07 through FCG21-16, for a total 3,874 metres. The results from the first four 2021 holes released to date continue to intersect substantive mineralization, highlighted by hole FCG21-08, the most northwestern hole, intersecting the Colorado SW mineralized zone extending for over 200 metres downhole, and hole FCG21-10, intersecting the North Fork gold zone extending 82 metres downhole. The latter interval, hosting the highest-grade gold intercept in the 40+ year drilling history at Fondaway Canyon and reporting 47.0 g/t Au over 1.5m, is a prime example of the structures that promote the high-grade concentration of gold at the Project.
January and February 2022 promise to be a very active period with continuous news flow as the Company releases results from six 2021 drill holes for which assays have yet to be received. In addition, with the bulk of the outstanding warrants expiring in January, the Company’s capital structure will be significantly strengthened, as will the treasury. It is anticipated that the Company will have in excess of $4 million before the start of the 2022 exploration field programs, providing a solid financial position moving forward. With this capital injection, continual news flow, and a supportive gold market, the Company is poised for an excellent start to the new year.
The forthcoming 2022 exploration program will include an aggressive increase to the drilling budget, as the Company has successfully secured an additional drill rig for the entirety of the drill season. The doubling of drilling capacity will support an accelerated advancement of the Fondaway Canyon gold project and the increased activity will further elevate the news flow throughout the year.
Complementing the field activity, we expect that in the latter part of 2022, the data from these first two years’ drill programs completed at Fondaway Canyon under the Getchell Gold Corp. banner will bring a major revision and update to the resource model.
Adding the second drill rig will also enable the maiden drill testing of the high-grade copper-gold-silver Star project at the start of the drill season, without impinging on the advancement of the Fondaway Canyon gold project. The Star project is known for historic small-scale mining of exceptionally high-grade mineralization. Over the last year, the Company has identified multiple compelling geophysical targets, received drill permits, and constructed drill pads in preparation for the forthcoming drill program. The drill program at Star should provide a tangible boost to an already energized slate.
This is a very dynamic and opportune time for our entire team, and we are very thankful for the support and feedback that we receive from our shareholder partners. I anticipate that Getchell Gold Corp. will continue to grow as one of the more notable Nevada focused junior explorers and I look forward to 2022 with high expectation.
Wishing everyone a safe and joyful holiday season.
Mike Sieb, President, Getchell Gold Corp.
** Interested media and investors are invited to watch a recently produced 5 minute corporate video that summarizes the Fondaway Canyon Central area, including updated 3D drill highlights, by following the embedded link to the video or by visiting the Company’s website at www.getchellgold.com.
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 historic gold producer with a significant in-the-ground historic resource estimate. Complementing Getchell’s asset portfolio are Dixie Comstock, a historic gold producer with a historic resource and two earlier stage exploration projects, the Star and Hot Springs Peak projects, both having historic production. Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.
The Company reiterates that its near-term strategy to advance its assets is not impacted by the COVID-19 Corona virus. The Company continues to monitor the situation and is in compliance with all government guidelines.
For further information please visit the Company’s website at www.getchellgold.com or contact the Company at email@example.com or 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 private placement and the completion thereof and 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: the receipt of all necessary regulatory approvals, capital expenditures and other costs, and financing and additional capital requirements. 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