
Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (FWB: GGA1) is pleased to announce an Updated Mineral Resource Estimate for the Fondaway Canyon gold project in Churchill County, Nevada.
2024 Updated Mineral Resource Estimate* Key Highlights
“The significant increase to the Mineral Resource Estimate at Fondaway Canyon moves the valuation bar considerably higher and continues to demonstrate the incredible upside potential that has yet to be discovered.” stated Mike Sieb, President.
The results of the 2024 Updated Mineral Resource Estimate are as follows:
Table 1: Fondaway Canyon Global Mineral Resource Estimate*
Table 2: Fondaway Canyon Mineral Resource Estimate* by Zone
*Notes on the 2024 Mineral Resource Estimate are provided below.
A video presentation on the Fondaway Canyon gold project and the 2024 Updated Mineral Resource Estimate can be accessed through the following link: Video Presentation 2024 Updated MRE
Figure 1: Fondaway Canyon Project MRE showing conceptual pits and gold grade block model
Figure 2: Fondaway Canyon 2024 MRE 3D gold grade block model – Colorado SW section
Figure 3: Fondaway Canyon Project MRE 3D gold grade block model – North Fork Section
The MRE represents a significant expansion to the 2023 Mineral Resources Estimate published by the Company in February 2023 primarily due to:
Oxide Cap
In addition, this iteration of the mineral resource estimate delineated a significant near surface oxide cap to the resource (Table 3). This could be of major significance in the potential development and economics of a future operation at Fondaway Canyon.
Table 3: Fondaway Canyon Mineral Resource Estimate* by Type
Preliminary Economic Assessment
The Company has engaged Forte Dynamics, Inc., of Fort Collins, Colorado (“Forte Dynamics”) to complete modern metallurgical studies and prepare a preliminary economic assessment (“PEA”) on the Fondaway Canyon gold project (Company news release dated June 25, 2024). With the 2024 MRE complete, Forte Analytical is in the process of completing a series of modern metallurgical studies that will be incorporated into the Fondaway Canyon PEA with completion scheduled for the Fall.
The full documentation for the 2024 Mineral Resource Estimate will be reported within the forthcoming PEA.
Michael Dufresne, P.Geol., P.Geo., is independent and the Qualified Person (as defined in NI 43-101) who reviewed and approved the content and scientific and technical information in the news release.
Corporate
The Company issued an aggregate of 1,411,250 common share purchase warrants, (the “Warrants”) pursuant to a non-brokered private placement of units of the Company that closed on September 28, 2020. The Warrants were issued with an exercise price of $0.60 and an expiry date of September 28, 2022. On September 16, 2022, the Company extended the expiry date of the Warrants by one year and changed the exercise price from $0.60 to $0.50, and on September 7, 2023, the Company further extended the expiry date of the Warrants to September 28, 2024. The Company has further extended the expiry date of the Warrants by one year to September 28, 2025.
Notes on the Mineral Resource Estimate:
About Getchell Gold Corp.
The Company is a Nevada focused gold and copper exploration company. Getchell Gold is primarily directing its efforts on its most advanced stage asset, Fondaway Canyon, a past gold producer with a large mineral resource estimate. Complementing Getchell’s asset portfolio is Dixie Comstock, a past gold producer with a historic resource, and the high-grade Star (Cu-Au-Ag) projects.
Table 1: Fondaway Canyon Global Mineral Resource Estimate* (CNW Group/Getchell Gold Corp.)
Table 2: Fondaway Canyon Mineral Resource Estimate* by Zone (CNW Group/Getchell Gold Corp.)
Figure 1: Fondaway Canyon Project MRE showing conceptual open pits and gold grade block model (CNW Group/Getchell Gold Corp.)
Figure 2: Fondaway Canyon 2024 MRE 3D gold grade block model – Colorado SW section (CNW Group/Getchell Gold Corp.)
Figure 3: Fondaway Canyon Project MRE 3D gold grade block model – North Fork Section (CNW Group/Getchell Gold Corp.)
Table 3: Fondaway Canyon Mineral Resource Estimate* by Type (CNW Group/Getchell Gold Corp.)
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