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Nevada produced 4.63 million ounces of gold in 2020.
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That total makes it one of the most important gold mining locales on the planet, and it explains why word of more gold found in the state attracts attention.
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And finding more gold is exactly what Getchell Gold (CSE: GTCH; OTCQB: GGLDF) has done at its Fondaway Canyon project in the northwestern part of the state.
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Building on an historical resource of more than a million ounces of gold, Getchell Gold has been consistently hitting more gold with the drill bit over the past two years.
Those results, along with drilling planned for 2022, should allow the company to update the big historical resource published under NI 43-101 standards by the previous operator to a current mineral resource…and possibly grow it considerably.
How much bigger? As you’re about to see, it could be a lot — because the results Getchell Gold has already achieved on Fondaway Canyon are quite remarkable.
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The Drills Keep Hitting Gold
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After optioning Fondaway Canyon in 2019, Getchell hit the ground running with drilling the project in 2020.
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That effort resulted in three exciting new discoveries on the project named Colorado SW, Juniper and North Fork.
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The follow up drilling on these targets in 2021 has only added to their potential. The result has been a series of holes that confirm and expand the high-grade gold structures for which the project is known…
…But also show that these are surrounded by broader and thicker zones of mineralization.
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For example, Hole 8, the most northwesterly hole in the Colorado SW zone drilled so far, cut over 200 meters of gold mineralization, delivering one of the most impressive series of gold intervals in Fondaway Canyon’s 40+ years of exploration.
That hole cut 29.5 meters of 4.7 g/t gold, 27.5 meters of 4.2 g/t, 24.5 meters of 2.8 g/t, 30.7 meters of 1.4 g/t, and 16.8 meters of 1.3 g/t.
Meanwhile, Hole 12, hitting the same zone about 100 meters down-dip from Hole 8, hit 92 meters of mineralization, highlighted by separate intervals including 3.6 meters of 6.3 g/t gold, 17.4 meters of 3.2 g/t gold and 25.5 meters of 1.6 g/t gold.
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Again, this shows high-grade zones surrounded by thick zones of bulk-mineable grades.
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Consider Hole 10 on the North Fork gold zone: It hit 82.2 meters of excellent grade-thickness, punctuated by high grades like 47.0 g/t gold over 1.5 meters — the highest-grade gold intercept in the over 40-year history of the project!
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Double The Drilling In 2022
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Hits like these have management determined to accelerate the drilling on Fondaway Canyon in 2022. The company has budgeted for two drill rigs this year, up from one in 2021.
One of those rigs will start out testing Getchell’s Star project before returning to Fondaway Canyon for the balance of the year.
With the targets at Fondaway Canyon open in all directions, management is determined to keep extending the mineralization envelope on the project.
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Consider that those zones remain open along strike and down dip and have yet to show any signs of weakening, with grades and thicknesses that rival many of Getchell Gold’s richest peers in Nevada.
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Moreover, much of the ground between and around these substantial newly discovered zones of mineralization has yet to be drilled at all. If they contain similar mineralization, the upside for the Fondaway Canyon resource multiplies.
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PLUS:
A Lower-Risk, High-Potential Copper Play
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And while that project grows via the drill bit, Getchell will also test its Star project in the early part of 2022.
This project also boasts extraordinary upside potential. Its Star Point target is known to host high-grade copper, as it was mined for such resources in the late 1940s and early 1950s.
How rich was the ore? Consider that dump samples within the main workings of the old mine graded as high as 4.0% copper!
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But the miners basically only mined the near-surface ore at Star Point, never looking for the source of the surface mineralization at depth.
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Now, as you can see from the graphic below, Getchell has identified a large geophysical anomaly at depth that could well host the source of all that high-grade, near-surface copper.
It’s difficult to imagine a more attractive geophysical target than this….
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Plus, the project’s Star South target has a coincident geophysical anomaly of its own that will see testing.
Bottom line, these are such big targets that even a whiff of success with the drill bit could be a game-changer for Getchell Gold and its shareholders.
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Big Targets And Potential Bull’s Eyes
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Once the rig has tested Star, it will move back to Fondaway Canyon to double up on the work there.
The great news for investors is that Getchell Gold has the type of catalysts upcoming that could re-rate the company in a flash:
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• It’s drilling right now to confirm and expand a massive historical resource at Fondaway Canyon — with the odds high that the work will generate more gold hits like the ones we’ve seen already.
• And it’s drilling those big targets at Star…either one of which could result in a major new discovery.
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In a state where work gets done in a fishbowl, you can bet that larger players will be watching Getchell Gold’s work closely with thoughts of a takeout in their heads.
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The bottom line is that Getchell Gold — despite hitting long intersections of gold on a project with a massive historical resource — is still being valued at nearly the levels of companies that haven’t discovered a thing.
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And all the gold Getchell is finding is in Nevada…where gold resources are so richly valued.
With drills turning in the weeks ahead like they never have before, the time to look into Getchell Gold is before the next results come in.
Contact: info@getchellgold.com
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