Getchell Gold Corp has expanded its land holdings at the Fondaway Canyon project in Nevada. The expansion, announced today, involves staking an additional 75 claims, which increases the total coverage to over seven kilometers by three kilometers across its claim group. This strategic move comes as part of Getchell's efforts to bolster exploration activities and support general corporate functions, with the ultimate goal of conducting a Preliminary Economic Assessment of the site.
On Sunday, Getchell revised the warrant terms related to its non-brokered private placement supplemental offering. This offering is a key component of the company's fundraising strategy to finance continued exploration at Fondaway Canyon. Through the sale of up to 1,500,000 units, Getchell anticipates enhancing its exploration activities.
The company's prospects are not limited to Fondaway Canyon, which is a past gold producer with considerable mineral resources. Additionally, Getchell oversees other Nevada-based projects such as Dixie Comstock with historical resources and early-stage ventures like Star (Cu-Au-Ag) and Hot Springs Peak (Au).
Getchell's increased claim area in Fondaway Canyon, now spanning approximately four-and-a-half square miles, reflects the company's commitment to advancing its goal of establishing a Tier-1 gold resource. The capital raised from the private placement will be allocated towards exploration activities at Fondaway Canyon and general corporate purposes, as Getchell aims for full ownership over its main assets. Regulatory approvals for these financial activities are pending from authorities such as the Canadian Securities Exchange.
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