Getchell Gold Corp. Reports Stronger Gold Resource at Fondaway Canyon
Getchell Gold Corp. has released an updated Mineral Resource Estimate (MRE) for its Fondaway Canyon gold project, showing a meaningful step up in the size and quality of the resource. It’s a clear milestone for the company and its shareholders.
Highlights from the 2024 Mineral Resource Estimate
The new MRE shows an 18% increase in indicated mineral resources and an 11% increase in inferred resources versus prior figures. In total, indicated mineral resources are now 13.5 million tonnes averaging 1.49 g/t Au, or about 648,000 ounces of gold. Inferred resources are estimated at 44.8 million tonnes at an average grade of 1.16 g/t Au, adding approximately 1,670,100 ounces of gold.
Why this matters
The estimate also outlines a substantial oxide cap at surface—meaning gold mineralization starts right at the top of the deposit and remains open for further discovery. For a project’s early mining phases, that kind of near-surface material can be especially important and may support expansion plans.
What Changed and Why
The 2024 Updated Mineral Resource Estimate incorporates several improvements. Eight drill holes completed in 2022 were added to the model, all intersecting significant gold mineralization in the Central Area. These results helped confirm and extend known zones, contributing to the overall increase.
Inputs that lifted the resource
Two other updates played a role. First, a higher bulk density for the mineralized host rock—supported by 1,382 sample measurements—was applied. Second, the gold price assumption used in the model rose to USD 1,950 per ounce from USD 1,650. Together, these inputs sharpened the estimate and bolstered the project’s potential.
Leadership Perspective
Commenting on the new figures, President Mike Sieb said, “The recent increase in the Mineral Resource Estimate at Fondaway Canyon significantly elevates our valuation and illustrates the vast upside potential yet to be explored.” The tone is confident, and the message is straightforward: the team sees room to grow.
Operational Significance of the Oxide Cap
Defining a significant surface oxide cap has real implications for how the project could be mined and advanced. With mineralization starting at surface, stripping requirements may be minimal, a setup that can favor scheduling, early-stage development, and potential economics as the company evaluates next steps.
Next Steps: Studies and Assessment
To build on the updated MRE, Getchell Gold has engaged Forte Dynamics, Inc. to run modern metallurgical studies and prepare a Preliminary Economic Assessment (PEA) for Fondaway Canyon. The PEA will help frame the project’s economic feasibility and development options.
About Getchell Gold Corp.
Getchell Gold Corp. focuses on gold and copper exploration in Nevada, with Fondaway Canyon as its flagship. The company has a history linked to past production at the project and continues to advance it through targeted drilling, technical studies, and disciplined evaluation.
For inquiries, contact info@getchellgold.com.
Frequently Asked Questions
What’s the core takeaway from the 2024 Mineral Resource Estimate?
The resource at Fondaway Canyon is larger and better defined than before, with indicated resources up 18% and inferred resources up 11%. That growth supports a stronger project foundation for future work.
How much gold is now estimated at Fondaway Canyon?
Indicated resources total 13.5 million tonnes at 1.49 g/t Au (about 648,000 ounces), and inferred resources total 44.8 million tonnes at 1.16 g/t Au (about 1,670,100 ounces).
What helped drive the increase in the resource?
Three main inputs: the addition of eight 2022 drill holes in the Central Area that intersected significant gold, an updated (higher) bulk density based on 1,382 measurements, and a gold price assumption of USD 1,950 per ounce instead of USD 1,650.
Why is the surface oxide cap important?
Mineralization starting at surface can reduce stripping and help early mine planning. It also keeps the deposit open for further exploration near the top of the system.
What work is planned next at Fondaway Canyon?
Forte Dynamics, Inc. has been engaged to conduct metallurgical studies and prepare a Preliminary Economic Assessment, which will outline the project’s potential economics and development paths.
