Getchell Gold releases PEA results for Nevada project
Getchell Gold Corp. [GTCH-CSE, GGLDF-OTCQB, GGA1-FWB] has released a preliminary economic assessment (PEA) for its 100%-owned Fondaway Canyon gold project in Nevada.
The PEA outlines an open pit mining and conventional 12,000 tonne-per-day milling operation with an initial planned mine life of approximately 10 years. The PEA contemplates the production and sale of a high-grade concentrate to a third-party refinery for pressure oxidation or roasting followed by cyanidation to produce dore.
On Friday, Getchell shares were unchanged at 27 cents and trade in a 52-week range of 47 cents and 21 cents.
Fondaway Canyon is one of two projects that the company gained an option to acquire four years ago from Canagold Resources Ltd. [CCM-TSX, CRCUF-OTCQB, CANA-FRA], a company that was previously known as Canarc Resources. The other was the Dixie Comstock property, which is also located in Churchill County, Nevada.
Fondaway Canyon is an advanced stage gold property. The land package contains 170 unpatented lode claims and has a history of previous surface exploration and mining in the late 1980s and early 1990. In November, 2023, the company expanded its claim holdings by 50%, bringing the total claim area to 1,871 hectares, a move that gave the company sole control over a the entire four-kilometre long east-west gold corridor.
The Dixie Comstock property is situated 17 kilometres northeast of Fondaway Canyon on the eastern flank of the Stillwater Range.
An updated mineral resource estimate for Fondaway was published in April, 2026. The company delineated an indicated resource of 22.1 million tonnes at an average grade of 1.40 g/t gold, totalling 999,000 ounces of gold and an inferred resource of 45.5 million tonnes at 1.2 g/t gold, amounting to 1.8 million ounces of gold. The 2026 mineral resource estimate represents a significant expansion to the 2024 estimate primarily due to Notably10 holes drilled in the Central Area that intersected significant gold intervals and extended the mineralization.
The scope of the PEA was limited to the open pit mineral resource in the Central Area of the project. That does not include the Main Pit’s underground mineral resource and the open pit mineral resource outside of the Central Area along the gold corridor. The PEA represents only a portion of the largely underexplored 7.0-kilometre long east-west gold corridor, covering a 10 square kilometre area. The mine plan will be developed in consecutive phases to manage the operating stripping ratio and to provide consistent mill feed.
Meanwhile, the PEA envisages a robust operational profile, with 1.52 million ounces of gold recovered (post processing) over a 10-year mine life with average annual gold production of 150,000 ounces. A PEA envisages an initial capital expenditure of $188.4 million and $265.3 million over the life of the mine.
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