Getchell Gold (CSE: GTCH, OTCQB:GGLDF) has come up with another winner on the sixth hole of 12, drilled into its flagship Fondaway Canyon gold project this 2022 drill season.
The Vancouver-based company has been releasing drill results all summer and fall, with the latest news release detailing hole FGC22-22, which successfully intersected four significant intervals of gold mineralization at the North Fork Zone in the Central Area of the Fondaway Canyon Project in Nevada.
The highlights were:
“The North Fork zone drilling has consistently returned substantial gold intercepts and extended the known mineralization well beyond last year’s high-grade discovery [50m to the south and east],” said Getchell Gold’s President Mike Sieb. “Better yet, North Fork continues to remain open in all directions for further expansion.”
Hole 22 was drilled eastward from the southern margin of the Main Pit (Figures 1 and 2), a site of small-scale mining during the 1970’s and ‘80s. The hole was designed to test for a continuation of the North Fork mineralization towards the southeast.
According to Getchell, The upper high-grade interval correlates well with the high-grade gold mineralization encountered in holes FCG21-16 and FCG22-17 that graded 6.3 g/t Au over 50.7 m and 3.8 g/t Au over 85.9 m respectively. This Upper North Fork gold zone is now prominent across at least seven drill holes and remains open in all directions.
The lower three gold intervals encountered down hole indicate the strength and pervasiveness of the mineralizing system at North Fork with additional holes required to delineate the extent of these lower intervals of mineralization.
With the 2022 drill season now complete, Getchell reports that it finished 12 holes totaling 4,645 meters. Assay results have been released for the first six of those holes (FCG22-17 to 22), with results pending for the remaining six, holes FCG22-23 to 28.
Getchell Gold carried out three drill programs, in 2020, 2021 and 2022. The aim was to significantly upgrade the 2017 resource estimate into a new resource, that will combine the drill results from all three drill programs.
Getchell’s field work has resulted in significant discoveries, expanded gold zones and delivered consistently successful drill results.
Mineralization within the Central Area’s delineated envelope has been considerably expanded; substantial high-grade shear vein structures with significant depth contribute to the potential. The drilling has yet to test the full extent of the gold mineralization.
Notably, drill hole FGC-21-16, the last hole of the 2021 drill program, intersected exceptionally high gold mineralization of 10.4 g/t gold over 25m, within a broader zone grading 6.3 g/t gold over 50.7m.
This interval exceeded the results of any hole drilled in the more than 40-year history of gold exploration and mining at Fondaway Canyon.
Holes FCG22-17, 18, 19, 22, 23, and 25 were designed as step outs to test the extent of the North Fork mineralization encountered in hole 16. Holes FCG 22, 23, and 25 were additionally designed as step outs to test the extent of two lower North Fork gold intervals discovered in FCG22-18 that graded 2.1 g/t Au over 43.4m and 1.9 g/t Au over 72.6m.
Holes 17-19 successfully extended the North Fork Zone. FCG22-17 returned 3.8 g/t Au over 85.9m including 17.7 g/t Au over 9.9 m, and FCG22-19 returned 1.8 g/t Au over 107.5m.
New resource estimate
Assay results up to and including hole FCG22-19, will be incorporated into a new resource estimate, expected this month.
Our reasons, at AOTH, for believing a new resource estimate will improve substantially on the previous one, are as follows:
The revised estimate should significantly improve upon the 2017 resource estimate, which showed 409,000 oz 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.
Getchell drilled 12 holes in the 2022 drill program. Assay results have been released for six of those holes (FCG22-17 to 22), with results pending for the remaining six, holes FCG22-23 to 28. Only assay results up to and including hole FCG22-19, will be incorporated into the new resource estimate which is due any day.
But drilling continued to expand the North Fork and Colorado SW zones, both of which remain open in most directions.
FGC22-20 and 21 successfully intersected and extended the Colorado SW Zone gold mineralization at Fondaway Canyon. Among the highlights, hole 20 logged four significant gold mineralized intervals starting from surface including 1.7 g/t Au over 56.6m, extending Colorado SW 35 meters up-dip and remaining open to the east.
Hole 21 returned 0.9 g/t Au over 74.3m, extending the Colorado SW Zone 50m along strike and remaining open to the west.
Hole FCG22-24 was drilled into the Pediment Zone, located 2 km west of the Central Area. The Pediment is the western-most known gold mineralized occurrence along the 3.5 km long E-W trending Fondaway Canyon gold corridor. The area is blanketed by a broad alluvium cover, which is typical of the range and basin geomorphology. Visualize a heat source millions of years ago squeezing boiling-hot magma from west to east through the fissures and faults of the Earth’s crust, depositing gold and silver minerals.
According to Getchell, FCG22-24 successfully drilled through the Rangefront Fault and tested the target zone on the footwall side of this structure with results pending.
FCG22-26 and 27, stationed near the canyon floor on the same drill pad as FCG21-12 and 15, were respectively designed to test the eastern extent and conduct infill drilling of the Colorado SW Zone.
FCG22-28, stationed midway up the north slope, was designed to conduct infill drilling and test the down-dip extent of Colorado SW.
In my opinion not only are we going to see a significant increase in the current resource, but it seems obvious that the potential is there for Getchell’s Fondaway Canyon to become a Tier One asset.
Getchell Gold Corp.
Shares Outstanding 105m
Market cap Cdn$37.2m
Richard (Rick) Mills
subscribe to my free newsletter
Legal Notice / Disclaimer
Ahead of the Herd newsletter, aheadoftheherd.com, hereafter known as AOTH.
Please read the entire Disclaimer carefully before you use this website or read the newsletter. If you do not agree to all the AOTH/Richard Mills Disclaimer, do not access/read this website/newsletter/article, or any of its pages. By reading/using this AOTH/Richard Mills website/newsletter/article, and whether you actually read this Disclaimer, you are deemed to have accepted it.
Any AOTH/Richard Mills document is not, and should not be, construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.
AOTH/Richard Mills has based this document on information obtained from sources he believes to be reliable, but which has not been independently verified.
AOTH/Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness.
Expressions of opinion are those of AOTH/Richard Mills only and are subject to change without notice.
AOTH/Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.
Furthermore, AOTH/Richard Mills assumes no liability for any direct or indirect loss or damage for lost profit, which you may incur as a result of the use and existence of the information provided within this AOTH/Richard Mills Report.
You agree that by reading AOTH/Richard Mills articles, you are acting at your OWN RISK. In no event should AOTH/Richard Mills liable for any direct or indirect trading losses caused by any information contained in AOTH/Richard Mills articles. Information in AOTH/Richard Mills articles is not an offer to sell or a solicitation of an offer to buy any security. AOTH/Richard Mills is not suggesting the transacting of any financial instruments.
Our publications are not a recommendation to buy or sell a security – no information posted on this site is to be considered investment advice or a recommendation to do anything involving finance or money aside from performing your own due diligence and consulting with your personal registered broker/financial advisor.
AOTH/Richard Mills recommends that before investing in any securities, you consult with a professional financial planner or advisor, and that you should conduct a complete and independent investigation before investing in any security after prudent consideration of all pertinent risks. Ahead of the Herd is not a registered broker, dealer, analyst, or advisor. We hold no investment licenses and may not sell, offer to sell, or offer to buy any security.
Richard owns shares of Getchell Gold Corp. (CSE:GTCH). GTCH is a paid advertiser on his site aheadoftheherd.com