Getchell Gold Corp. Targets Growth with 2025 Drill Program
Getchell Gold Corp. Engages Drill Contractor for New Program
Getchell Gold Corp. (CSE: GTCH, OTCQB: GGLDF) is excited to reveal its plans for the upcoming 2025 drill program at its Fondaway Canyon project. The Company has officially engaged a drill contractor to advance this critical phase of exploration.
Highlights of the Planned Drill Program
The 2025 drill program at Fondaway Canyon is designed to enhance the project’s existing mineral resources. Here are some key aspects:
- Large gold mineral resource available for exploration.
- A thorough preliminary economic assessment was conducted.
- The mineralization is still open for exploration and expansion.
- A 10-hole drill program totaling 3,000 meters (approximately 10,000 feet) is set to begin mid to late July.
- Objectives include extending gold mineralization and increasing total mineral resources.
Understanding Fondaway Canyon
The Fondaway Canyon project, encompasses a total area of 4,623 acres (1,871 hectares). It extends 7 kilometers east to west, covering the full corridor known for gold production. Its expansive nature allows for considerable resource growth and necessary infrastructure supporting future development.
Mineral Resource Estimates
Recent estimates show a substantial mineral resource at Fondaway Canyon. The indicated mineral resource includes 13.5 million tonnes with an average grade of 1.49 grams per tonne gold, leading to a yield of approximately 648,000 ounces. Inferred resources are estimated at 44.8 million tonnes at a grade of 1.16 grams per tonne, equating to about 1,670,100 ounces of gold. This presents significant potential for further exploration and increased resource estimates.
Initial Steps of the 2025 Drill Program
The upcoming drill program focuses on expanding known mineralization along the strike and dip of the existing resource. With drilling expected to mobilize soon, the Company aims to further enhance the open-pit model and overall project value.
Strategic Engagement with Foraco Corp.
Foraco Corp. has been selected to conduct the drilling efforts, bringing vast industry experience to the project. Drilling operations are expected to begin promptly and to run until the end of the drilling season, allowing for an efficient and thorough exploration process.
Overview of the Preliminary Economic Assessment
A positive preliminary economic assessment (PEA) for Fondaway Canyon has outlined viable operational plans. The assessment indicated an open-pit mining operation alongside an efficient milling process, projecting a promising initial mine life. This evaluation highlighted strong economic factors such as a pre-tax net present value of approximately $546 million and an internal rate of return of 51.2% based on current gold prices.
Notes on Mineral Resource Status
The PEA serves as an insightful guide into the potential future of the Fondaway Canyon project. However, it's important to note that all mineral resources mentioned are not categorized as mineral reserves. Continued exploration may enhance these estimates into more certain figures, but additional investment and exploration efforts will be necessary to achieve that goal.
Getchell Gold Corp: An Overview
Getchell Gold Corp. is primarily focused on their leading asset, Fondaway Canyon, and continues to work diligently towards expanding its resource offerings while evaluating its economic potential. Trading under the tickers GTCH on the CSE and GGLDF on the OTCQB, the Company represents a strong opportunity for investors interested in the gold exploration sector.
Frequently Asked Questions
What is the main goal of the 2025 drill program?
The primary goal is to extend the known mineralization and increase the overall mineral resource estimates at Fondaway Canyon.
How many holes are included in the drill program?
The drill program consists of an initial 10 holes, equaling about 3,000 meters or 10,000 feet of drilling.
Who is conducting the drilling for Getchell?
Foraco Corp. has been engaged to carry out the drilling operations for the Fondaway Canyon project.
What is the significance of the preliminary economic assessment?
The PEA evaluates the economic viability of the project, predicting a strong financial return and outlining mining strategies.
Where can I find more information about Getchell Gold Corp.?
For further details, you can visit the official website of Getchell Gold Corp.
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