InvestmentPitch Media Video Discusses Getchell Gold and its Filing of a Mineral Resource Estimate Technical Report for its Fondaway Canyon Project, Nevada

Rhea-AI Summary

Getchell Gold (CSE:GTCH) (OTCQB:GGLDF) has announced a new Mineral Resource Estimate for its Fondaway Canyon project in Nevada. The Indicated Mineral Resource is reported at 11.0 million tonnes with an average grade of 1.56 grams per tonne gold, yielding 550,800 ounces of gold. Additionally, the Inferred Mineral Resource stands at 38.3 million tonnes at an average grade of 1.23 grams per tonne, totaling an additional 1,509,100 ounces of gold. This estimate significantly expands resources compared to previous findings from 2017. The company is currently trading at $0.39.

Positive

• Significant increase in Indicated Mineral Resource to 550,800 ounces of gold.
• Inferred Mineral Resource of 1,509,100 ounces of gold suggests strong potential for future exploration.

Negative

• Nine holes drilled in 2022 were not included in the current Mineral Resource Estimate, delaying potential resource increases.

VANCOUVER, British Columbia, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Getchell Gold, (CSE:GTCH) (OTCQB:GGLDF), a gold and copper exploration company focussed in Nevada, filed a Mineral Resource Estimate technical report for its Fondaway Canyon project. The company reported an Indicated Mineral Resource of 11.0 million tonnes at an average grade of 1.56 grams per tonne gold for 550,800 ounces of gold, and an Inferred Mineral Resource of 38.3 million tonnes at an average grade of 1.23 grams per tonne gold for an additional 1,509,100 ounces of gold.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional news about the company and comments from Mike Sieb, President. The video is available for viewing on “InvestmentPitch” or on “YouTube”. If the link is not available, please visit www.InvestmentPitch.com and enter “Getchell” in the search box.

Fondaway Canyon, the company’s most advanced project and a past gold producer, is located in Churchill County, Nevada. The company’s other Nevada properties include the Star project, a past high-grade copper, gold, and silver small-scale producer, the Dixie Comstock project, a past gold producer with a historic resource, and Hot Springs Peak, an earlier stage exploration project.

The Fondaway Canyon Mineral Resources Estimate is based on 518 reverse circulation and diamond drill holes totaling 52,395 metres spanning over forty years to the present along a 3.5 kilometre East-West gold trend. Based on a conceptualized potential open pit and underground mining, it significantly expands the historical mineral resource published by a previous operator in 2017. The company reported an Indicated Mineral Resource of 11.0 million tonnes at an average grade of 1.56 grams per tonne gold for 550,800 ounces of gold, and an Inferred Mineral Resource of 38.3 million tonnes at an average grade of 1.23 grams per tonne gold for an additional 1,509,100 ounces of gold.

Nine holes drilled in 2022, FCG22-20 through 28, totaling 3,473 metres were completed subsequent to the cut-off for inclusion into the Mineral Resource Estimate. The assay results from these holes will be incorporated into a future Mineral Resources Estimate.

The shares are trading at $0.39. For more information, please visit the company’s website, www.GetchellGold.com, or contact the company at 647-249-4798 or by email at info@GetchellGold.com.

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Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Getchell Gold has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is the latest Mineral Resource Estimate for GGLDF's Fondaway Canyon project?

The latest estimate reports an Indicated Mineral Resource of 550,800 ounces and an Inferred Mineral Resource of 1,509,100 ounces of gold.

How much gold is indicated in the Fondaway Canyon project?

The Indicated Mineral Resource is 550,800 ounces of gold.

What are the average grades of gold at Fondaway Canyon?

The average grade is 1.56 grams per tonne for Indicated and 1.23 grams per tonne for Inferred resources.

What is the current share price of Getchell Gold (GGLDF)?

Getchell Gold shares are currently trading at $0.39.