Burlington, Ontario--(Newsfile Corp. - December 12, 2018) - Getchell Gold Corp. (CSE: GTCH) ("Getchell Gold" or the "Company") announces the Geological Results of the drilling at its Hot Springs Peak Project. Additional information can be found on the Company's website at http://getchellgold.com.
The Company is pleased to report that the targeting method being used to locate gold type alteration systems was in management's opinion successful. Four vertical holes totaling 1,212 meters (3,735 feet) were drilled as an exploratory test into concealed geophysical targets using a reverse circulation percussion drill to reach depths of approximately 274-340 meters (845 - 1045 feet). No artesian water was encountered, and sample recovery was 100%. All holes were sampled on 5-foot intervals and assay results are expected to be received in late December or early January. Pathfinder elements and gold/silver values from the assay results will be matched to the alteration types found in the drill holes for gold system recognition.
Project Map showing all the elements of the surface alteration, mineralization and geophysical responses. The map above shows the final drilling sequence for the 4 HSP-RC holes drilled which was changed from previous press releases for logistical reasons.
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Discovery of Alteration Characteristics of a Gold Mineralizing System
Limestone host rocks were identified in drill holes HSP-RC2 and HSP-RC4. Drill-hole HSP-RC1 was so extremely silicified in the lower 100 meters that the original host rock could not be identified. The reverse circulation drill cuttings in the chip trays pictured below show the extent of the alteration in drill hole HSP-RC4. This hole contains most elements of a gold system alteration with approximately 150 meters of red, black, white and green jasperoidal silicification, decalcification of limestone, and argillization. Drill cuttings do not allow the recognition of some features such as collapse breccias, hornfels alteration and even the recognition of re-mobilized carbon, even though abundant carbon was encountered in drill holes HSP-RC 2 and HSP-RC3. The first occurrence of intrusive altered pyritic dikes was discovered in HSP-RC2 crosscutting the limestone in the lower part of the drill-hole.
The tops of the chargeability and resistivity highs occur at approximately 130 meters depth in drill-hole HSP-RC4 and were used in targeting of the drill site. The reverse circulation drill cuttings in the chip trays pictured below show a direct correlation of the high chargeability and resistivity to the massive silicification and disseminated pyrite in the lower part of the drill-hole, with intensity increasing to the bottom of the hole. The lower 100 meters of drill hole HSP-RC1 also contained massive silicification and disseminated pyrite, most likely accounting for the high chargeability and resistivity in that hole. This alteration is also destructive for magnetic minerals and likely accounts for the low magnetic intensity in the target area. This is why management believes the exploration targeting method appears to be guiding the drilling into the right type of alteration for a gold system and why this round of drilling has been a success, even before the assay results are returned. The QP cautions that alteration characteristic of gold mineralization is not a guarantee that gold mineralization in any amount will be present, but greatly improves the probability that gold mineralization will be present or that additional chemical pathfinders found will lead to a gold discovery.
Chip trays showing the extensive alteration in all 3 types of host rocks which are mafic volcanic breccias at the top of drill-hole HSP-RC4, phyllite and argillite in the middle of the hole and limestone in the lower 1/3rd of the hole. The most intense alteration occurs in the limestone continuing to the bottom of the hole.
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Drill depths were limited by water inflows and collapsing breccias in the formation. Future reverse circulation drilling will be done with a conventional mud system to control water inflows and stabilize the holes for deeper drilling. Core drilling will be phased in if mineralization is encountered and to identify structures, collapse breccias, mineralization types and sedimentary host rocks.
The technical part of this report was written by Timothy Master, author of the HSP Report dated June 30, 2017, a Qualified Person (QP) for Getchell Gold Corp. and technical advisor as that term is defined in NI 43-101. Drill samples have been submitted to the lab with standards inserted into the sample stream, conforming to NI 43-101, 3.2 (a) to (c) where the QP has supervised the drilling, verified the sample recovery as being systematic with excellent recovery and the ordering of gold-silver assays and multi-element Inductively Coupled Plasma analyses (ICP) for gold-silver grades and pathfinder element mapping. Any gold mineralization discovered will be cross-checked for sample preparation and analytical reproducibility with another lab. Preparation of samples was performed by ALS Minerals Labs, the primary lab for this project and operating according to certified standards for reporting results. All samples are being assayed by Fire-AA finish for gold and silver. ICP analyses are being completed on all samples for pathfinder metals. Copper analyses greater than the ICP upper detection limit of 1% copper are routinely assayed for copper percent. Readers are cautioned that individual drill sampling and analyses represent only the interval sampled in the drill hole and are not intended to be extended out and away from the drill hole until surrounding drill holes and geological controls confirm that mineralization can be extended.
For further information contact:
William Wagener, CEO
+1 303 517 8764
Peter M. Clausi, President
1 416 890 1232
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This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: reliance on key personnel; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; effect of market interest rates on price of securities, and potential dilution.