Getchell Gold Corp. (CSE: GTCH) has released its maiden Mineral Resources Estimate (MRE) for the Fondaway Canyon project in Churchill County, Nevada. The MRE conceptualises potential open pit and underground mining.
Mineral Resources Estimate Key Highlights
- Significantly expands upon historical mineral resource;
- Indicated Mineral Resource of 11.0 million tonnes at an average grade of 1.56 grams per tonne (g/t) gold (Au) for 550,800 ounces of gold; and
- Inferred Mineral Resource of 38.3 million tonnes at an average grade of 1.23 g/t Au for an additional 1,509,100 ounces of gold;
- Gold mineralization remains open for further expansion in all contributing zones; and
- An Act containing provisions for the release of the Stillwater WSA is moving through the current session of the U.S. Congress with a recent vote overwhelmingly passed by the U.S. House of Representatives and a vote pending in the U.S. Senate.
“The Fondaway Canyon Mineral Resources Estimate far exceeds our expectations when we started this venture three years ago. The quantity and grade of gold outlined and the robustness of the Mineral Resources Estimate prominently places us in a select group within a premier gold jurisdiction,” Mike Sieb, President, Getchell Gold Corp., said. “
As impressive as this is, it represents a snapshot in time. With the mineralization remaining open and an expanded exploration program planned for next year, this is only the first major milestone in a continuously developing story.”
The Fondaway Canyon Mineral Resources Estimate is based on 518 reverse circulation and diamond drill holes totalling 52,395 m spanning over 40 years to the present along a 3.5 km East-West gold trend.
The MRE represents a significant expansion to a historic Mineral Resources Estimate published by a previous operator in 2017 by:
i) Primarily modelling the Mineral Resources as a bulk tonnage target with a conceptual open pit mining scenario versus a solely underground extraction scenario;
ii) The addition of new assay results from 26 diamond drill holes (2017 to 2022) that were completed subsequent to the release of the historic 2017 Mineral Resources Estimate; and
iii) Major discoveries in 2020 and expansion of the new zones during the recent period of drilling.
Nineteen drill holes, FCG20-01 to FCG22-19, totalling 6,973 m drilled by the company in 2020, 2021, and 2022, were considered in the current MRE and represent a significant component of the expanded gold mineralization.
Nine holes drilled in 2022, FCG22-20 through FCG22-28, totalling 3,473 m were completed subsequent to the cut-off for inclusion into the MRE. The assay results from these nine 2022 holes will be incorporated into a future Mineral Resources Estimate.
The assay results for six (6) holes remain pending, FCG22-23 through FCG22-28, and are expected to be received through to early next year.
For further information please visit: https://getchellgold.com/
