Getchell Gold Corp.’s 2024 Field Work Delivers a 7% Increase in the Bulk Density of the Mineralized Host Rock at the Fondaway Canyon Gold Project, Nevada

VANCOUVER, BC, June 6, 2024 /CNW/ – Getchell Gold Corp. GTCH GGLDF GGA (“Getchell” or the “Company“) is pleased to announce the completion of the bulk density (“BD“) field program that forms part of an updated Mineral Resource Estimate (“Updated MRE“) at the Fondaway Canyon gold project in Nevada.

• 7% Increase to the density of the mineralized host rock;
• Bulk density is one of the main factors utilized in mineral resource estimates;
• The Updated MRE for the Fondaway Canyon gold project is in progress; and
• 8 drill holes with notable gold intervals, not previously incorporated, will augment the Updated MRE;

The Company published its first Mineral Resource Estimate* (“2023 MRE“) for the Fondaway Canyon gold project (Company news release dated February 1, 2023), reporting:

• Inferred Mineral Resource of 38.3 million tonnes at an average grade of 1.23 g/t Au for
  
  1,509,100 ounces of gold; and
• Indicated Mineral Resource of 11.0 million tonnes at an average grade of 1.56 g/t Au for an additional 550,800 ounces of gold;

As there was an insufficient population of bulk density samples previously collected, a default density of 2.56 g/cm³ was assigned to the rock hosting the mineralized zones in the 2023 MRE. In order to establish a more representative value to be utilized in the Updated MRE, a field program was initiated in April 2024 to measure a statistically significant population of drill core.

A total of 1,382 sample measurements were recorded from nine holes drilled by the Company between 2020 and 2022, well representative of the lithologies, alteration, and mineralization contained within the mineral resource. Validating the field  measurements, a subset of 121 samples was sent to Bureau Veritas analytical laboratory in Sparks, Nevada for independent confirmation and to provide a number of measurements using a wax coating methodology.

A density of 2.74 g/cm³, representing a 7% increase, was derived from the BD program and assigned to the rock hosting the  mineralized zones. This value is a direct input factor in a mineral resource estimate and may potentially represent a commensurate increase in tonnes given all other factors and inputs remain unchanged.

“The positive result of the bulk density sampling program is another one in a long series of positive results produced by Getchell Gold Corp. at Fondaway Canyon, and one that continues to increase the attractiveness and potential of the project.” states Mike Sieb, President of the Company. 

Of the 26 holes drilled by the Company in the Central Area of Fondaway Canyon since 2020, only 18 of those holes were incorporated into the 2023 MRE.  The results of the additional eight (8) drill holes were received after the cutoff date for data to be included in the 2023 MRE.  All eight (8) of these drill holes, FCG22-20 to FCG22-28, excluding FCG22-24 that drilled a separate target area, reported significant intervals of gold mineralization**:

Mike Dufresne, P.Geo., of Apex Geoscience Ltd., is the Qualified Person (as defined in National Instrument 43-101) who reviewed and approved the content and scientific and technical information in the news release.

The Company is a Nevada focused gold and copper exploration company trading on the CSE: GTCH, OTCQB: GGLDF, and FWB: GGA1.   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 two earlier stage exploration projects, Star (Cu-Au-Ag) and Hot Springs Peak (Au).

For further information please visit the Company’s website at www.getchellgold.com or contact the Company at info@getchellgold.com.

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 timing and results, albeit an increase or decrease, of the specific density characterization program or of an updated Mineral Resource Estimate at the Fondaway Canyon gold project; and the launching and completion of the Financing, the terms of the Financing, the issuance and vesting of Warrants, payment of finder’s fees in connection with the Financing, receipt of all applicable regulatory approval of the Financing, and 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. 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.

SOURCE Getchell Gold Corp.