Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) has filed its mineral resource estimate technical report for the Fondaway Canyon gold mining project in Nevada.
On Wednesday, the Vancouver company announced the accomplishment and says the estimate conceptualizes prospective open-pit and underground mining at the site.
Key highlights from the estimate include an inferred mineral resource of approximately 1,510,000 ounces of gold and an indicated resource of about 551,000 ounces.
Photo via Getchell Gold
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The Fondaway Canyon project is located in Nevada’s Churchill County and the land package there contains 170 unpatented lode claims.
“The quantity of gold, the grade, the exposure of the mineralization at surface, the robustness of the mineral resource estimate and the location in a supportive global gold mining epicenter places the Fondaway Canyon project in a highly select and coveted group.” said Mike Sieb, President of Getchell Gold.
“Combined with a strong gold price and healthier forecast, the mineralization fully open for further expansion and aggressive advancement planned, Getchell Gold Corp. is poised to realize significant upside this year.”
Getchell’s stock stayed flat at $0.40 today on the Canadian Securities Exchange.
Drilling underway at the North Fork Zone of the Fondaway Canyon project last month. Photo via Getchell Gold
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NevGold Corp. (TSX: NAU) (OTCQX: NAUFF) (FSE: 5E50) is another Vancouver-based gold producer with substantial operations in Nevada.
NevGold has been observing consistent positive results at its Limousine Butte project in the state. The company’s CEO says the results from the 10,000 metres drilled there thus far have been “fantastic.”
Between its Nevada and Idaho gold projects, NevGold aims to deliver north of a 3-million ounce near surface oxide gold resource by the end of June.
NevGold’s stock value dropped by 1.28 per cent today to $0.38 on the TSX Venture Exchange.
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