Summary:
After three years of drilling at Fondaway Canyon in Nevada, Getchell Gold has more than doubled its historic resource and still hasn’t hit the limits. With 100% ownership, favorable geology, and a supportive jurisdiction, CEO Mike Sieb believes the project is poised to evolve into one of Nevada’s next major gold deposits.
A Historic Asset with a Bright Future
Located just northeast of Reno, Nevada, Getchell Gold’s Fondaway Canyon project lies within one of the world’s most prolific mining jurisdictions. Nevada ranks #1 for mining favorability and #5 globally in gold production. With 100% ownership of the property and no competing claims along its 2.5-mile mineralized corridor, Getchell is in full control of what CEO Mike Sieb describes as “one of the more prominent developing gold plays in Nevada.”
Originally producing gold in the 1980s, Fondaway Canyon’s legacy included modest open-pit operations and historical drilling focused on shallow mineralization. When Getchell Gold stepped in, the company took a different approach—deeper drilling, wider targeting, and a rethinking of the structural model underpinning gold emplacement.
The result? A stunning transformation of the project’s potential.
Doubled Resources with Room to Grow
Through just 18 drill holes across three exploration campaigns, Getchell doubled the historic resource, defining:
- 550,000 oz gold (Indicated)
- 1.5 million oz gold (Inferred)
Importantly, the mineralization remains completely open. The most peripheral drill holes—those furthest down dip and along strike—have returned some of the strongest intercepts, suggesting extensive upside.
This includes standout intervals such as:
- 3.8 g/t Au over 86 m (North Fork Zone)
- 1.4 g/t Au over 23.9 m (Colorado SW Zone)
- 10+ g/t Au over 25 m and 17.8 g/t Au over 10 m in shallow intercepts
Every drill hole in the 1 km² central focus area has intersected substantial gold—an enviable 100% success rate.
A Model That’s Built for Mining
One of the keys to the project’s development potential lies in the geometry of the mineralization. Early operators chased steeply dipping veins—less favorable for open-pit mining due to high strip ratios. Getchell’s drilling has revealed that the system flattens and thickens at depth, allowing for a more efficient pit design.
“Not only does the mineralization shallow, but it broadens,” says Sieb. “It’s almost the ideal geometry for a large open-pit model.”
Superimposing the company’s 2023 pit shell on cross-sections confirms that the majority of mineralization lies within the optimal zone for near-surface development, with significant extensions possible as more drill data comes in.
North Fork: A Potential Game-Changer
While the Colorado SW Zone offers impressive tonnage, the North Fork Zone may provide a powerful boost to economics. It’s higher-grade, thicker, and shows signs of deeper, more robust mineralizing roots. In Sieb’s words, it could be “the jewelry box” of the project.
With the highest-grade intercepts in the 40-year history of Fondaway Canyon, the North Fork Zone represents the type of discovery that can turn a strong project into a company-maker.
Next Steps: From Resource to PEA and Beyond
In 2024, Getchell is advancing the project toward a Preliminary Economic Assessment (PEA), which will be a critical milestone in defining its production potential. Eight drill holes completed after the current resource cut-off will be added, potentially boosting the ounce count further.
Following the PEA, the company is preparing for an aggressive second-half drill campaign. According to Sieb, “We have more high-confidence targets than we can reasonably drill in one season.” And every indication—from geologic modeling to prior intercepts—suggests those holes will continue adding ounces.
A Strategic Location in a Proven District
Fondaway Canyon benefits from its setting in the heart of Nevada gold country. The project is less than two hours from Reno, near full-service towns like Fallon, and just off Interstate 80. Yet it remains remote enough to avoid stakeholder conflicts or ESG headwinds.
Getchell also enjoys access to skilled labor, infrastructure, and government support in a jurisdiction renowned for its mining-friendly stance.
Valuation Disconnect—and a Growth Opportunity
Despite the doubling of its resource and 100% project ownership, Sieb believes the company’s current share price doesn’t reflect the value on the table.
“Our next goal is to get the word out and attract a Tier 1 sponsor,” he explains. “This is not a typical gold story. This is one of the most robust systems I’ve ever worked on.”
Final Word: A System with No Known Limits
After three years of drilling, the company has yet to find the limits of the mineralization. No structural barriers. No weakening zones. Just continuous, consistent gold with every hole.
“In my entire career,” Sieb concludes, “I’ve never seen a project like this. We’ve found a lot of gold—and there’s a lot more to find.”
WATCH IT HERE: Growing a Major Gold Asset In Nevada – Getchell Gold
HEAD OFFICE
Suite 488 – 625 Howe Street
Vancouver, BC
Canada V6C2T6
T: (647)-249-4798
TF: (877)-684-0460
E: info@getchellgold.com
W: getchellgold.com
For more information, contact:
Karen Mate, Investor Relations
$gtch #nevada #nevadamining #nevadacopper #nevadagold
