Investment reports

Northern Dynasty Reports Annual General Meeting Results

  • The resource estimate for the Fondaway Canyon gold project is scheduled for the end of September 2022;
  • Exploration developments after the 2017 historic resource estimate include:

– Three drilling campaigns completed plus one ongoing drilling program completed;
– Significant discoveries and extensive gold zones; and
– Always successful drilling results;

  • Extensive gold mineralized zones complemented by high-grade shear veins add to the project’s potential;
  • Gold mineralization remains open in most directions.

“We have been and continue to be extremely successful in our drill programs and look forward to formally quantifying the mineralization defined to date.” says Mike Sieb, President, Getchell Gold Corp.

Fondaway Canyon is an advanced stage gold property with a significant historical resource located in Churchill County, Nevada. Gold was first discovered at Fondaway Canyon in 1977 and over the next 40 years has been the subject of several exploration campaigns along a 3.5 km gold mineralized corridor EO (Figure 1) totaling over 700 reverse circulation and core drill holes, small scale open pit mining of the oxidized zone and underground development for exploration and bulk sampling.

Three drilling campaigns have been completed (Canagold Resources Ltd. in 2017, Getchell in 2020 and 2021) and one ongoing (Getchell 2022) following the publication of a historical resource estimate in early 2017 by a former operator.

All drill results from 2017, 2020 and 2021 combined with all drill results received from the current drill program up to the July 31, 2022 deadline will be incorporated into the 2022 resource estimate. Completion of the 2022 Resource Estimate and supporting NI43-101 Technical Report is scheduled for late September 2022.

Recent results

There have been significant advances and discoveries since the publication of the historic resource estimate. The bounded envelope of gold mineralization in the central zone has widened considerably with mineralization defined to date ranging from 600 meters EW along strike, 800 meters down-dip to the SW and approximately 100 meters dip thickness. Within this envelope, substantial, very high-grade shear vein structures with significant depth extents contribute to the potential. Drilling has not yet tested the full extent of the gold mineralization and the mineralization remains open in most directions.

Figure 1: Fondaway Canyon 3.5 km EW Gold Corridor Gold Project, aerial view.

To see an improved version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3941/128700_7a5a0b865438189f_001full.jpg

Below is a partial selection of drill intervals (Table 1) drilled by the Company in recent years which demonstrate some of the broad, high-grade intervals characteristic of gold mineralization encountered at Fondaway Canyon and which will be incorporated into the 2022 resource estimate.

Table 1: Highlights of Selected Drilling – Getchell Gold Intervals 2020 to 2022

Borehole At
(g/t)
Interval (m) Of
(m)
To
(m)
Area Borehole At
(g/t)
Interval (m) Of
(m)
To
(m)
Area
FCG20-02 6.2 21.9 106.1 128.0 juniper area FCG20-04 2.5 58.0 383.0 441.0 north fork
including 20.4 3.2 120.5 123.7 including 10.3 5.2 414.6 419.8
FCG20-05 1.8 90.0 177.5 267.5 Colorado SW FCG21-10 3.0 41.8 275.5 317.3
including 3.0 45.3 222.2 267.5 including 47.0 1.5 293.3 294.8
FCG21-08 4.2 27.5 223.4 250.9 FCG21-16 6.3 50.7 117.5 168.2
including 13.0 4.3 243.9 248.2 including 10.4 25.0 139.9 164.9
FCG21-08 2.8 24.5 261.5 286.0 FCG21-16 3.1 33.4 265.0 298.4
FCG21-08 1.4 30.7 323.5 354.2 FCG22-17 5.4 51.9 66.1 118.0
FCG20-04 8.6 9.8 108.1 117.9 Half Moon including 12.2 5.3 72.4 77.7
FCG20-04 2.7 20.5 128.5 149.0 including 17.7 9.9 94.7 104.6

It should be noted that additional drilling, both infill and step-out, will be required to better define and add to the model of gold mineralization at Fondaway Canyon.

Getchell Webinar Series

As part of the ongoing series of webinars to update shareholders on ongoing activities and developments, Chairman Mike Sieb and the Getchell team will host a live webinar on July 12.

All interested media and investors are invited to register here: https://app.livestorm.co/getchell-gold/getchell-gold-nevada-exploration-highlights?type=detailed

The Company released important news in 2022, beginning with the release of results from the final hole of the 2021 drill program at Fondaway Canyon, FCG21-16, targeting the North Fork Zone (Company press release dated February 15 2022). FCG21-16 met with a gold interval ranking 6.3 g/t Au over 50.7 m which includes a premium core returning 10.4 g/t Au over 25.0 m and represents the highest ‘gold grade x thickness’ value in the history of over 40 years of gold exploration and mining at the project.

Drill hole FCG22-17, the first drill hole of the 2022 drill program at Fondaway Canyon, designed to further delineate the gold interval encountered by FCG21-16, intersected high-grade gold mineralization at a shallow depth of 66.1m. 17.7 g/t Au over 9.9 m in a larger area 5.4 g/t Au over 51.9 m (Company press release dated June 15, 2022). It should be noted that assay results from FCG22-17 have been returned to a depth of 119.5m and assays are pending for the remainder of the hole.

With two drill rigs active, one at the Fondaway Canyon Gold Project and the other at the Star Copper-Gold-Silver Project, the Company expects drill results to be released through 2022.

This event will include a live Q&A session and is open to all interested media and investors.

Apex Geoscience Ltd.

Apex is a privately held, independent geological consulting firm that provides high quality, cost-effective and timely geological consulting services to exploration companies, governmental and non-governmental organizations. Apex has experience in all aspects of the mineral exploration industry, from initial assessment and NI 43-101 reporting through to mining, including resource identification and description . They specialize in managing large databases of mining and exploration sites, digitally capturing historical datasets, and combining rigorous geostatistical analysis with modern geological, geochemical, and drilling datasets to create concise 3D models that drive resource discovery and expansion.

Apex has extensive Nevada Carlin-type gold experience, including completing several mineral resource estimates and preliminary economic assessments for various companies in the area.

Scott Frostad, P.Geo., is the Qualified Person (as defined in NI 43-101) who has reviewed and approved the scientific and technical content and information of the press release.

The actual thickness of the gold intervals disclosed here is not yet known, further work will be required to determine the actual thickness.

Drill core from 2020, 2021 and 2022 was cut at Bureau Veritas Laboratories (“BVL”) facilities in Sparks, Nevada, and samples were assayed for gold and multi-element analysis in the BVL laboratories in Sparks, Nevada and Vancouver, British Columbia, respectively. Gold values ​​were produced by fire assay with atomic absorption finish on a 30 gram sample (BV code FA430) with upper limits re-assayed using method FA530 (30g Fire Assay with gravimetric finish) . The multi-elemental analysis was carried out by ICP-MS after aqua regia digestion on a 30g sample (BV code AQ250). Field quality control measures included the systematic insertion of standards and blanks.

About Getchell Gold Corp.

The Company is a Nevada-focused gold and copper exploration company trading on the CSE: GTCH and the OTCQB: GGLDF. Getchell Gold is primarily focused on its most advanced-stage asset, Fondaway Canyon, a former gold producer with a significant historical resource estimate, and the Star Project, a former small-scale copper, gold and high-grade silver. Rounding out Getchell’s asset portfolio is Dixie Comstock, a former gold producer with a historic resource and earlier-stage exploration project, Hot Springs Peak (Au). Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.

For more information, please visit the Company’s website at www.getchellgold.com or contact the Company by email at [email protected] or by phone at +1 647 249-4798.

Mr. William Wagener, President and CEO
Getchell Gold Corp.

The Canadian Securities Exchange has not reviewed this press release and accepts no responsibility for the adequacy or accuracy of this press release.

Certain information contained herein constitutes “forward-looking information” under Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding product use. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of these 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 are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ. are materially different from those expressed or implied. by such forward-looking statements or forward-looking information. Although Getchell’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements or forward-looking information, there may be other factors that cause the results are not those 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 incorporated by reference herein, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128700