Gold Zone Uncovered Beyond Pit Limits in Nevada Drilling Breakthrough
Getchell Gold Corp. (GTCH:CSE; GGLDF:OTCQB) intersected 5.8 g/t gold over 19.0 meters at its Fondaway Canyon project, including 12.9 g/t over 6.5 meters. The high-grade discovery sits 35 meters outside the modeled resource pit and extends mineralization 70 meters to the northwest.
Getchell Gold Corp. (GTCH:CSE; GGLDF:OTCQB) reported new drill results from its 100%-owned Fondaway Canyon gold project in Nevada, highlighting an extension of gold mineralization to the northwest and the discovery of a high-grade zone outside the current mineral resource pit shell.
Drill hole FCG25-36, part of the company's 2025 exploration program, intercepted 5.8 grams per tonne (g/t) gold over 19.0 meters, including a subinterval of 12.9 g/t over 6.5 meters. The high-grade intercept is located approximately 35 meters beyond the modeled open pit and 70 meters along strike to the northwest of previous drilling. According to the company, the mineralization remains open in all directions.
Additional results from the same hole included intercepts of 1.4 g/t over 23.6 meters and 2.2 g/t over 11.2 meters, confirming the continuity of the Colorado SW zone with a 40-meter stepout. "The results demonstrate the continuation of mineralization unabated along strike to the northwest," said Mike Sieb, President of Getchell Gold, in the company's news release.
The company also identified a structurally bound limestone/marble corridor that hosts historic tungsten mineralization and now shows evidence of gold enrichment. The mineralized limestone intercepted 0.4 g/t gold over 14.8 meters, suggesting that this geological unit may act as a control feature for gold emplacement.
The 2025 drill campaign, now completed, included 10 holes targeting multiple extensions of the Colorado SW and North Fork zones. Assay results from several holes, including those testing the down-dip extension of North Fork and additional strike length to the west, are still pending.
Gold Market Dynamics Reflect Mounting Currency and Liquidity Pressures
According to a December 1 report from Reuters, gold prices reached a six-week high as market participants responded to expectations of interest rate cuts and a weaker U.S. dollar. Spot gold traded at US$4,241.27 per ounce while U.S. gold futures for February delivery settled at US$4,274.80 per ounce. The article noted that the U.S. dollar had slipped to a two-week low, making gold more attractive to holders of other currencies. David Meger, director of metals trading at High Ridge Futures, said the precious metals market was supported by "the underlying environment of expectations of further rate cuts, along with inflationary pressure still above the Fed target."
In an interview published the same day by GoldSwitzerland, Matthew Piepenburg emphasized that gold's recent performance should not be viewed in isolation. He stated, "This is not an ordinary bull market. This is not an ordinary asset. This is a monetary metal, a precious metal." Piepenburg framed the rise of gold as a response to long-standing systemic issues in the global monetary system, including excessive debt and currency debasement. He added, "The world is catching on after decades of overextending debt levels . . . the awareness of the weakness of paper money in general and the world reserve currency in particular is now obvious."
Piepenburg also pointed to tightening credit conditions and stresses in the U.S. banking system as underlying drivers of gold's appeal. He described the reverse repo market as a "screaming indication that credit is tightening, liquidity is becoming drier," and cautioned that liquidity constraints in the banking sector were becoming more visible. He tied these developments to the growing preference among institutions and central banks for gold as a reserve asset, stating that "central banks now hold more gold than they do U.S. treasuries."
On December 2, Stewart Thomson wrote that while some short-term softness was possible, the overall technical setup for gold remained strong. He described the market's current price levels as a "great price zone to book some profits," adding that gold was "only about US$200 off its US$4,380 area highs." Thomson highlighted the recent performance of senior and junior gold mining stocks, noting that many companies were trading near highs while their production costs remained comparatively low. "Most senior miners sport costs in the US$1,500/oz range . . . while gold trades at about US$4,200. The undervaluation is obvious," he wrote.
Analyst Confidence in Fondaway Canyon's Growth Potential
On October 23, Jeff Clark of Paydirt Prospector reiterated his Buy rating on Getchell Gold Corp., citing valuation strength and the project's economic fundamentals. "As I said in my initiation of coverage," he wrote, "Getchell is priced attractively on the basis of the value of Fondaway Canyon's established open pit mineral resource alone." Clark pointed to the February Preliminary Economic Assessment (PEA), which outlined a post-tax net present value (NPV) of US$474 million at a 10% discount rate and an internal rate of return (IRR) of 46.7%, assuming a base-case gold price of US$2,250 per ounce.
He emphasized that this valuation remained compelling even as Getchell's market capitalization climbed to nearly CA$64 million. "The price of gold has also risen significantly," Clark added, "not to mention the fact that Getchell also recently initiated work to boost recovery rates from their current 85%, addressing the potential limitations of its refractory ore head on." He concluded that "the gap between Getchell's market cap and the PEA's US$474 million NPV leaves plenty of room for a re-rate."
In a December 4 update, analyst Jeff Clark underscored the importance of the new step-out discovery at Fondaway Canyon, calling it "a brand-new, high-grade gold discovery in an untouched area" of the project. He highlighted that hole FCG25-36 delivered 110.2 gram-meters of gold, including 5.8 g/t over 19.0 meters with a subinterval of 12.9 g/t over 6.5 meters, and noted that the intercept extended mineralization 70 meters northwest into an undrilled corridor.
Clark emphasized that the highest-grade interval sits 35 meters outside the current pit shell and remains open in all directions, indicating the potential for future expansion of both the resource and pit geometry. He stated that the stock had risen on the results and reiterated his recommendation, writing "BUY; HOLD IF YOU OWN," while adding that he maintained a full position. Clark also referenced Atrium Research's reaffirmed Buy rating and CA$1.10 target as additional support for the project's ongoing potential.
In the November 10 research note, where Nicholas Cortellucci of Atrium Research maintained a Buy rating on Getchell Gold and reiterated his target price of CA$1.10 per share, Cortellucci cited strong results from the 2025 drill program at Fondaway Canyon, describing the reported assays as "stellar."
Nicholas Cortellucci of Atrium Research maintained a Buy rating on Getchell Gold and reiterated his target price of CA$1.10 per share.According to Cortellucci, hole FCG25-33 intersected "a 212-meter broad zone of gold mineralization" and ended in "12.5 meters grading 4.8 g/t Au." He added that hole FCG25-34 intersected "a 145-meter broad zone," while hole FCG25-35 encountered "multiple high-grade structures."
Cortellucci also highlighted the economic profile of the project as laid out in the PEA, calling it a "low-capex, high-IRR open-pit mine with an annual gold production of 117,000 ounces." He cited the initial capital cost of US$227 million and reiterated the after-tax NPV10% of US$474 million at a gold price of US$2,250 per ounce, noting it would rise to US$973 million at US$3,300 per ounce. The report concluded that Getchell remained "well-positioned for continued growth" and pointed to insider buying as a sign of management's confidence in the project.
On December 2, Atrium Research published a follow-up note responding to new assay results from drill hole FCG25-36 at Fondaway Canyon. The hole tested the northwest extension of the gold system and returned several significant intervals, including 5.8 grams per tonne (g/t) gold over 19.0 meters, 1.4 g/t over 23.6 meters, and 2.2 g/t over 11.2 meters. The highest-grade intercept was located 35 meters beyond the modeled resource pit and extended mineralization 70 meters along strike. Cortellucci described the result as "impressive," noting that the hole demonstrated potential to add ounces within the pit and to open a new zone for exploration outside it. He added that two holes from the 2025 program remained pending, and future results could provide additional upside.
Atrium also updated its valuation summary for Getchell Gold Corp., stating that the company traded at just 0.05x its NPV, compared to peer averages of 0.15x. The firm reiterated its Buy rating and target price of CA$1.10, representing a 193% return to target. As of publication, Getchell's market capitalization was approximately CA$61 million, with US$3 million in cash and no debt. The company's enterprise value was US$58 million. Fondaway Canyon hosts 2.3 million ounces of gold in resources, including 0.6 million ounces in the measured and indicated category and 1.7 million ounces inferred. Atrium's model included a US$1.35 billion NPV5% at US$3,300 gold and an NPV per share estimate of US$5.94.
Also on November 10, Michael Ballanger of GGM Advisory Inc. issued a newsletter on Getchell Gold, rating the company as a Strong Buy.
Next Steps for a Developing Resource
The project at Fondaway Canyon remains in the advanced exploration stage, supported by a Preliminary Economic Assessment (PEA) published in February 2025. The PEA modeled a conventional open-pit operation with 10.5 years of mine life and a 2.9 million tonne-per-year throughput, recovering 1.23 million ounces of gold over the life of mine at an average recovery of 84%.
The economic study, based on a gold price of US$2,250 per ounce, outlined an initial capital cost of US$226.5 million and a base-case after-tax net present value (NPV) of US$474 million at a 10% discount rate. The company reported a projected after-tax internal rate of return (IRR) of 46.7%.
Streetwise Ownership Overview*
Getchell Gold Corp. (GTCH:CSE; GGLDF:OTCQB)
*Share Structureas of 12/9/2025Looking ahead, Getchell has outlined plans to update the Mineral Resource Estimate in early 2026 and revise the PEA by mid-year. This update is expected to incorporate results from the 2025 drill program, further metallurgical studies, and potentially a revised gold price assumption reflective of market conditions.
The project is located approximately 170 kilometers east of Reno, Nevada, in a jurisdiction ranked among the top globally for mining investment. The state hosts 22 major gold mines and produces approximately 4 million ounces of gold annually, valued at around US$14 billion.
Ownership and Share Structure 1
12.15% of Getchell Gold is held by management and insiders. Robert Bob Bass holds the most with 10.10%, followed by Robert Christopher Bass with 1.08%. The rest is retail.
As of November 12, 2025, Getchell Gold Corp. had 194.79 million shares outstanding, a market capitalization of approximately CA$67.18 million, and a 52-week trading range of CA$0.08 to CA$0.35.
| Want to be the first to know about interestingGold investment ideas?Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
Important Disclosures:
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Getchell Gold.James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.For additional disclosures, please click here.
1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.