Getchell Gold Corp. Provides Alteration and Mineralization Observations of Core from the May 2019 Drill Program at the Hot Springs Peak Project, NV

Toronto, Ontario–(Newsfile Corp. – July 3, 2019) – Getchell Gold Corp. (CSE: GTCH) (“Getchell Gold” or the “Company”) further to its news release of June 6, 2019 is pleased to provide an update on the core observations as they relate to the geology and mineralization at the Company’s 100% owned Hot Springs Peak Property located in Humboldt County Nevada. The 783 meter deep core hole (HSP-C1) intersected extreme brecciation, carbon flooding, altered intrusions, silicification, sulfidation and argillization. Hornfels alteration will be confirmed with petrographic analysis. These alteration types and mineralization are discussed in conjunction with the following set of core photos including comments on the geophysical responses. The core hole was part of the planned Phase 2 exploration drill program to test for a Carlin Style Gold System in the central geophysical target area. The targeted anomaly is defined by the convergence of the magnetic low, chargeability high and resistivity high intersections in conjunction with the surface hornfels along the mine shaft trend containing the gold-arsenic mineralization and represents a follow up to the Phase 1 four-hole program that was completed last Fall (results detailed in a Company press release dated February 25, 2019).

Core hole HSP-C1 is an offset from hole HSP-RC1, drilled last Fall, that encountered Carlin Style alteration with anomalous gold, ranging up to 0.155 g/t, and pathfinder elements of arsenic, mercury and antimony in numerous intervals. HSP-RC1 was terminated prematurely at a depth of 315 meters due to poor hole conditions which ended the drilling at the top of the highest intensity geophysical resistivity anomaly on the property. The following photos capture some of the alteration features that were intersected from the top of the core hole to the bottom.

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Figure 1.

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The first 265 meters of the hole was drilled by reverse circulation (RC). The hole was cased and then continued by core drilling to a total depth of 783 meters. The coring started at 265 meters depth and immediately encountered a sulfidic, argillized, quartz veined felsic intrusion containing pyrite, gray sulfide and a green alteration mineral – shown in Figure 1 above.

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Figure 2.

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At 303 meters depth, the core intersected silicified breccia containing pyrite and a green alteration mineral associated with the sulfides – shown in Figure 2 above.

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Figure 3.

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Carlin Style alterations consisting of jasperoidal silicification as bedding replacement in claystone, heavily sulfidized with pyrite were present at 513 meters depth – shown in Figure 3 above.

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Figure 4.

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At 546 meters depth, the core intersected extreme brecciation of quartz veined claystone with extreme carbon flooding of the breccias  – shown in Figure 4 above. Carbon remobilization is common in Carlin Type Systems. Approximately 150 meters of this breccia occur in the main structural zone of the chargeability and resistivity highs.

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Figure 5.

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At 658 meters depth, intrusive contact with the quartz, carbon breccias were intersected  – shown in Figure 5 above. The intrusion contains the same pyrite, gray sulfide and green alteration mineral as previously intersected and was the third felsic intrusion intersected by the core hole.

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Figure 6.

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Silicified breccias in claystone were intersected near the bottom of the hole at 777 meters which contained quartz vein fragments and fine pyrite – shown in Figure 6 above.

Approximately 150 meters of carbon rich quartz breccias with silicification and disseminated pyrite associated with the silicification were intersected by the deeper core drilling. Intervals of suspected hornfels alteration surrounding the breccias exhibiting anomalous analytical results will be confirmed with petrographic analysis. The results of the core drilling support the targeting methodology used to locate alteration that may contain Carlin Style gold mineralization. HSP-C1 was reclaimed up to the bottom of the casing and the casing left in the hole to preserve the option of re-entering the hole with directional drilling if results warrant.

Assays are pending and will be reported after integration with the existing drill data and interpretation.

The technical part of this news release was written by Timothy Master, a Qualified Person (QP) for Getchell Gold Corp. as that term is defined in NI 43-101 and an independent technical advisor for Getchell Gold.

For further information please visit the Company’s website at or contact the Company at +1 303 517 8764.

William Wagener, Chairman & CEO
+1 303 517 8764
[email protected]

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or dissemination in the United States.

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 “”will”, “intent”, “anticipates” 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: risks of future legal proceedings; regulatory approval of the issuance of securities, and potential dilution.

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