**NEW RESULTS ON second drill hole of the 2021 drill program at the Company’s flagship Fondaway Canyon Gold Project in Nevada. View full press release here.
In the world of gold mining, the phrase “sitting on a gold” mine, is a well-worn cliché. But in the case of Nevada-focused gold and copper exploration company Getchell Gold (CSE: GTCH) and (OTCQB: GGLDF), their flagship project at Fondaway Canyon in eastern Nevada is just that, a well-kept secret that has company executives excited about its incredible potential as a major gold producer.
Located about 170 kilometres northeast of Reno, Nevada, Fondaway Canyon has seen multiple campaigns of exploration, drilling, and small-scale mining over its 40-year history. The site has a significant in-the-ground historic resource; a past operator stated 409,000 ounces of indicated gold, and 660,000 ounces in the inferred category. Getchell did not calculate this estimate themselves, but it is a provocative number, and one that generated great interest and excitement in the company and amongst their shareholders.
Getchell Gold entered into an option agreement whereby it has the right to acquire 100% ownership of the Fondaway Canyon and Dixie Comstock properties in January of 2020. In the fall of 2020 Getchell drilled five holes in a 300 by 300 metre area of Fondaway, just a small subset of the 3.5 kilometre gold corridor, and what they found was even better than what they had anticipated. Getchell Company President Mike Sieb – a 30-year veteran of the mining industry – says that it was one of the more successful drill programs he’s ever been involved with. “We drilled five holes in the central area – and all five holes hit exactly where we had projected the gold to be. That’s unheard of.”
Another key highlight at Fondaway Canyon, is that the gold mineralization starts right at the surface, which means they likely won’t have to drill as deep as on other projects, which has obvious economic benefits.
Sieb says that the phenomenal success of these early findings could be a harbinger of what’s to come. “The Fondaway Canyon project, compared to all of the other projects in Nevada…It’s the one that’s going to show the most marked improvement and increase in potential.”
Looking to build on these numbers, Getchell recently commenced its Phase One, 4000 metre 2021 drill program at Fondaway Canyon, and the early drill results are very positive (see Table 1 below).
But Fondaway Canyon isn’t the only Nevada project that Getchell Gold is excited about. Around 60 kilometres to the north of Fondaway is the Star Project, a copper-focused property that Getchell has been exploring for a number of years.
The Star Project has only seen small-scale near surface mining in the past, but Getchell is primed to commence the maiden drill program at Star in late summer 2021. Based on an analysis of the waste-rock left behind from the historic artisanal mining operations, the copper, gold, and silver mineralizing system is distinctly high-grade.. According to Mike Sieb: “The waste rock is running multiple percent copper. …that’s the waste that they left behind! The goal of our drill program is to discover the source of the high-grade mineralization that we see at surface”.
Getchell plans to commence their drill program at Star after completing a sufficient series of drill holes at Fondaway Canyon, during the natural hiatus they’ll be taking while waiting for the early drill results to come in from Fondaway Canyon. This will assist the Company in optimizing the drill program at Fondaway, to better vector in and successfully continue to extend the gold mineralization.
The company has access to a dedicated drill rig for the entirety of 2021, which ensures that between the two sites – Fondaway Canyon and Star – they will have a drill turning in the ground through to the end of the year.
While there are several explorers operating in the same mineral-rich area of Western Nevada – like NV Gold Corporation (TSX.V:NVX https://nvgoldcorp.com/), and I-80 Gold Corp (TSX: IAU www.i80gold.com) – none have an ace-in-the-hole with untapped potential like Getchell Gold does with Fondaway Canyon.
The dual drill campaigns, one at an established gold deposit that remains open laterally and to depth and one at a never been drilled high-grade copper prospect, satisfies their existing shareholders by exposing them to multiple stage and commodity opportunities, while still uniquely providing a great entry point for new investors.
President Mike Sieb is extremely excited about the year ahead for Getchell Gold: “It’s two parallel opportunities…and both projects could be company makers.”
If their dual drilling programs continue to exceed expectations, Fondaway Canyon and Getchell Gold won’t be well-kept secrets for very long.
For more information on Getchell Gold Corp. (CSE: GTCH, OTCQB: GGLDF) please click the request investor button.
FULL DISCLOSURE: Getchell Gold is a client of BTV-Business Television. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.