07:46 AM EST, 02/10/2025 (MT Newswires) -- Getchell Gold ( GGLDF ) said late Friday that it filed a technical report for the preliminary economic assessment (PEA) on the Fondaway Canyon gold project in Nevada.

The report outlines an after-tax net present value of $474 million based on a 10% discount rate, with a 46.7% internal rate of return based on a gold price of $2,250 per ounce.

Production is estimated at 1.23 million ounces gold over a 10.5-year life of mine, with average annual gold production set at 117,300 ounces.

"This PEA readily demonstrates the potential for a robust economic open pit mining operation at Fondaway Canyon," said Mike Sieb, Getchell's president. "In addition, there remain multiple avenues to pursue in 2025 to further improve the economics beyond the current enviable level."

Getchell's share price closed 1.9% higher on Friday to a near 52-week high of $0.27.