- Getchell Gold Corp. (GTCH) secures two drill rigs for 2022 at its Nevada projects
- Getchell is planning to employ the two drills for the further exploration and resource definition at the Fondaway Canyon gold project
- The definitive option agreement to acquire 100 per cent of the Fondaway Canyon and Dixie Comstock projects was executed on January 03, 2020
- It also reported it has retained German Mining Networks GmbH to facilitate introductions with a European network of investors
- The agreement with GMN, initiated on November 22, 2021, continues on a month-by-month basis until terminated by the company
- Getchell Gold Corp. (GTCH) is down 1.75 per cent, trading at C$0.56 at 1:00 pm EST
Getchell Gold (GTCH) has secured two drill rigs to conduct exploration at its Nevada-based projects.
“The discovery of our Colorado SW and North Fork gold zones and the successful follow-up drill results indicate an extensive mineralizing system at the Fondaway Canyon gold project that remains open to depth and along strike,” states Mike Sieb, President, Getchell Gold Corp.
“In addition, the second drill rig will enhance our news flow next year and allow for the much-anticipated maiden drill program at the Star high-grade copper-gold-silver project,” added Sieb.
Getchell is planning to employ the two drills for the further exploration and resource definition at the Fondaway Canyon gold project as well as conducting the maiden drill program at the Star high-grade copper-gold-silver project.
The definitive option agreement to acquire 100 per cent of the Fondaway Canyon and Dixie Comstock projects was executed on January 03, 2020. One percentage point of the NSR’s can be bought out for US$1,000,000 on each project.
Its Board of Directors has approved the second-anniversary cash payment of US$100,00 and issuance of US$300,000 in shares in advance of the anniversary date. The exploration expenditures incurred to date for the 2020 and 2021 drill programs at Fondaway have far exceeded the exploration expenditure second-anniversary requirement and ensure the option to acquire the Fondaway Canyon Gold project remains in good standing through 2022.
The drill core samples from the 2021 drill program at the Fondaway Canyon gold project are being prepped and analyzed at Bureau Veritas’ lab located in Sparks, NV. On Nov. 22, 2021, Bureau Veritas publicly announced that on Saturday, November 20th, 2021, the cybersecurity system of Bureau Veritas detected a cyber-attack.
As a result, the fire assay and multi-element analysis of Getchell’s samples have been delayed due to the incident. The full pre-analysis preparation of the samples continues unabated.
Getchell also reported it has retained German Mining Networks GmbH, a Germany-based resource-focused advisory group contracted to facilitate introductions with a European network of investors.
The agreement with GMN, initiated on November 22, 2021, continues on a month-by-month basis until terminated by the company. It will pay a fee of $4,800 per month for the services GMN renders.
Getchell Gold is primarily directing its efforts on its most advanced stage asset, Fondaway Canyon, a historic gold producer with a significant in-the-ground historic resource estimate.
Getchell Gold Corp. (GTCH) is down 1.75 per cent, trading at C$0.56 at 1:00 pm EST.
