Business
Getchell Gold Corp. Secures Two Drill Rigs for 2022 at the Company's Nevada Projects
Vancouver, British Columbia--(Newsfile Corp. - December 8, 2021) - Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to an
About this update from Getchell Gold Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 8, 2021) - Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (\"Getchell\" or the \"Company\") is pleased to announce the Company has executed a contract to secure two drill rigs for the entirety of 2022 to conduct exploration at the Company's Nevada based projects. \"The discovery of our Colorado SW and North Fork gold zones and the successful follow-up drill results indicate an extensive mineralizing system at the Fondaway Canyon gold project that remains open to depth and along strike. The procurement of a second drill rig will facilitate an accelerated advancement and broader delineation of these discoveries,\" states Mike Sieb, President, Getchell Gold Corp. \"In addition, the second drill rig will enhance our news flow next year and allow for the much-anticipated maiden drill program at the Star high-grade copper-gold-silver project.\" Register now : The Company invites all interested investors and media to join the Getchell Gold team for an \"Introduction to Getchell Gold\" live discussion of 2021 exploration highlights, to be held on December 16 at 11am PST, 2PM EST, at this registration link: https://bit.ly/3onaHiK 2022 Drill Contract Getchell Gold Corp. has executed a contract (\"Drill Contract\") with First Drilling LLC (\"First Drilling\"), headquartered in Montrose, CO, with a regional office located in Elko, NV. The Drill Contract ensures the services of two coring drill rigs for the 2022 drill season. The Company is planning to employ the two drills for the further exploration and resource definition at the Fondaway Canyon gold project as well as conducting the maiden drill program at the Star high-grade copper-gold-silver project. Fondaway Canyon 2nd Anniversary Option Payment The definitive option agreement to acquire 100% of the Fondaway Canyon and Dixie Comstock projects (\"Projects\") was executed on January 03, 2020 (\"Canagold Agreement\"). Under the terms of the Canagold Agreement, Getchell can acquire the Projects at any time on or before the 4th anniversary of the Canagold Agreement by paying Canagold Resources Ltd., formerly Canarc Resources Corp. (\"Canagold\") a total of US$2.0M in cash, issuing US$2.0M in Getchell shares, completing US$1.45M in exploration expenditures and granting Canagold a 2% net smelter return (\"NSR\") in each of the Projects...