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Getchell Gold Corp. Intersects Shallow High-Grade Gold at North Fork Zone Returning

15.06.2022  |  Newsfile
17.7 g/t Au over 9.9 m within a Broader Interval Grading 5.4 g/t Au over 51.9m, Fondaway Canyon, NV

Vancouver, June 15, 2022 - Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to provide partial results for drill hole FCG22-17 that targeted the high-grade North Fork zone at the Fondaway Canyon gold project in Nevada.

Key Highlights

  • Results received for upper 119.5 metres of drill hole FCG22-17;
  • Gold mineralization encountered at shallow depth, starting at 66.1m down-hole;
  • 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; and
  • Remainder of assays pending.

"This is a spectacular start to the 2022 drill program especially with the discovery of high-grade gold mineralization lying shallow below the canyon floor," states Mike Sieb, President, Getchell Gold Corp. "The mineralizing system at Fondaway Canyon continues to impress and we wait with anticipation for what the year will bring."

Drill Hole FCG21-17

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.

"Marking how truly exceptional this is, the FCG21-16 interval returned the greatest 'gold grade x thickness' value in the 40+ year history of gold exploration and mining at the Project and likely represents a major high-grade conduit for the gold mineralizing system at Fondaway Canyon." stated Mike Sieb, President, Getchell Gold Corp.

Hole 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 (Figure 1). 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 (Figure 2).

Fire assay gold results have been received down to a drill depth of 119.5 m. This represents only a partial return of results. Assays are pending for the remainder of the hole to an end-of-hole depth of 348.7m.

FCG22-17 intersected gold mineralization considerably shallower than anticipated at a down-hole depth of 66.1 m with a significant gold interval extending down to the last sample returned to date.



Figure 1: Fondaway Canyon looking southeast highlighting the 2020, 2021, and 2022 drilling.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3941/127816_5bd5ca52a4fa192f_001full.jpg



Figure 2: Plan Map, North Fork Zone highlighting 2022 drilling in relation to drill hole FCG21-16.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3941/127816_5bd5ca52a4fa192f_002full.jpg



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

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3941/127816_5bd5ca52a4fa192f_003full.jpg

An exceptionally high-grade gold zone grading 17.7 g/t Au over 9.9 m (94.7-104.6 m) was encountered within a broader zone grading 5.4 g/t Au over 51.9 m (66.1-118 m) (Figure 3 and Table 1). This interval contains ten consecutive samples reporting >9 g/t Au revealing strong internal high-grade gold consistency.

The FCG22-17 gold interval reported to date sits vertically higher than FCG21-16's gold interval. Receipt of the pending assay results will assist the Company in determining the relationship of the gold interval encountered in FCG22-17 with FCG21-16's gold interval and to the degree it adds to the mineralization model.



Table 1: Drill Hole FCG22-17 Notable Gold Intervals

To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/3941/127816_5bd5ca52a4fa192f_004full.jpg

Drill Hole FCG22-18

A second drill hole has been completed. Hole FCG22-18, collared on the same pad as FCG22-17 (Figure 2), was designed to test:

  1. the immediate up-dip extent of the mineralization encountered in hole FCG21-16; and
  2. the further extent of the North Fork gold zone to the northeast in an area absent of any drilling.

FCG22-18 was completed to a drill depth of 437.1 m with the bottom of the hole representing a 100 m step out from the closest North Fork gold zone drill intercept. 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 2021 drill program. 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.

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