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Be the first with the news that moves the market- Getchell Gold Corp (CSE:GTCH) has revealed the data from a historic channel sampling program at the Fondaway Canyon Gold Project in Nevada
- The results showed that the underground mine atop the Half Moon vein, returned samples as high as 19.4 grams per tonne gold over 3.1 metres
- During underground blasting work, the previous owner exposed another panel, which graded at 12.4 grams per tonne gold over 4.3 metres
- Getchell is bringing in a drill rig in July to follow up on the newly released data
- Getchell Gold Corp (GTCH) is up 9.8 per cent and is trading at C$0.28 per share
Getchell Gold Corp (CSE:GTCH) has revealed the data from a historic channel sampling program at the Fondaway Canyon Gold Project in Nevada.
The work was conducted by the site’s previous operator, and Getchell has only recently secured the data.
The data shows an extension of the Half Moon shear vein runs 75 metres below the surface of the property, returning grades as high as 19.4 grams per tonne gold over 3.1 metres.
The company has previously intersected gold from the vein at a depth of 300 metres and believes it could run even deeper into the earth.
On the back of the historic results, Getchell is bringing in a drill rig to the project and expects to start in July
Teneco Minerals owned the project for four years, from 1986 to 1990. In that period, the company drilled 350 exploration holes, and completed 165 metres of underground work to access the Half Moon shear.
During underground blasting work, Teneco exposed a gold panel with a channel that graded at 12.4 grams per tonne gold over 4.3 metres.
Mike Sieb, a director of Getchell Gold Corp said the underground development along the Half Moon Shear vein reveals a significant high-grade gold mineralising system at Fondaway Canyon with remarkable vertical extent.
“The Half Moon high grade, in conjunction with the extensive gold mineralization found at or near surface supports the company assessing the projects potential for both bulk tonnage and underground mining,” he said.
The Fondaway Canyon has a historic mineral resource estimate of indicated resources of 409,000 ounces of gold, contained within just over two million tonnes grading at 6.18 grams per tonne and inferred resources of 660,000 ounces of gold.
Getchell Gold Corp (GTCH) is up 9.8 per cent and is trading at C$0.28 per share at 3:30 pm EDT.
