Getchell Gold Corp. announced plans to upgrade the Mineral Resource Estimate at the Fondaway Canyon gold project in Nevada. The Company published its first Mineral Resource Estimate for the Fondaway Canyon gold project, reporting: Inferred Mineral Resource of 38.3 million tonnes at an average grade of 1.23 g/t Au for 1,509,100 ounces of gold; and Indicated Mineral Resource of 11.0 million tonnes at an average grade of 1.56 g/t Au for an additional 550,800 ounces of gold.

Of the 26 holes drilled by the Company in the Central Area of Fondaway Canyon since 2020, only 18 of those holes were incorporated into the MRE. The results of the residual 8 drill holes were received after the cut off date for results to be included into the MRE. All eight (8) of these drill holes, FCG22-20 to FCG22-28, excluding FCG22-24 that drilled a separate target area, reported significant intervals of gold mineralization with the majority extending the gold mineralization beyond the extents delineated for the MRE: A default specific density of 2.56 g/cm3 was assigned to the rock hosting the mineralized zones and utilized in the estimation of the mineral resources.

A default value was employed as there were insufficient specific density samples previously taken to derive a representative value. The default value is considered a conservative estimate and following a field program to measure a statistically significant population of drill core, there is the potential to increase the specific density of the host rock, thereby proportionately increasing the amount of gold estimated in the mineralized rock. The Company is planning to initiate a specific density sampling program at the start of 2024 with those results to be incorporated into the updated MRE.