GILXF - Gitennes Commences Diamond Drilling on New Mosher Gold Property Chapais-Chibougamau area Quebec
(TheNewswire)
Vancouver, B.C. - TheNewswire - April 21 , 2021: Gitennes ExplorationInc. ("Gitennes" or the"Company") – (TSXV:GIT) (OTC:GILXF) announces it has commenceddiamond drilling on its New Mosher Gold Property. The first phase of drilling is planned for a minimum of2,500 metres and will initially target areas of I nduced P olarization , (“IP”) highchargeability , geophysicalanomalies that are associated with historic gold values in diamond drilling (see Figure 1) . The identified chargeability anomalies are similar in orientation and intensity to goldbearing structures at the nearby Joe Mann Mine. New Mosher islocated three kilometres from the past producing , Joe Mann Mine (see Figure 2) whichproduced approximately 1.2 million ounces of gold at an average gradeof 8.3 g/t gold (1) plussilver and copper.
The drill program will be the first diamond drilling onthe New Mosher Property since the late 1980’s. Two previous drillprograms consisting of limited shallow drill holes intersected gold ontwo of the Gitennes IP anomalies. A dditional IP anomalies have been detected both historicallyand in a recent survey and will be tested with the present drillprogram.
Diamond drilling i n the 1980’sintersected ( see AnomalyA, F igure 1):
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- 8.1 g/t gold over 0.25metres ;
- 187 g/t gold over 5.1 metres
In the mid-1950’s drilling intersected gold in fourof five holes ( see AnomalyB, F igure 1):
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- 3.40 g/t over 0.7m* at a down-holedepth of 65.2m,
- 1.28 g/t over 3.0m* at a down-holedepth of 57.9m,
- 0.87 g/t over 0.3m* at a down-holedepth of 41.7m and
- 0.29 g/t over 0.9m* at a down-holedepth of 37.7m.
Figure 1: IP Chargeability high(shown in pink) with associated features and historic drilling.
Figure 2: Quebec properties –JMW and Maxwell 100%, New Mosher & RAL – option to earn up to85%
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(1) Readers are cautioned that theCompany has no interest in or right to acquire any interest in the JoeMann mine and that mineral deposits andproduction results from the Joe Mann mine are not indicative ofmineral deposits on the Company's properties or any potentialexploitation thereof. Source: Technical Reporton the Joe Mann Mining Property dated January 11, 2016, prepared byGeologica Inc.
* True widths are not known at thistime
About Gitennes ExplorationInc.
Gitennes is in the business of exploring for andadvancing mineral properties with a focus on high grade gold. TheCompany currently has four properties in Quebec: JMW, RAL, New Mosherand Maxwell, the Snowbird gold property in British Columbia and a 1.5%Net Smelter Return royalty on the 18 million ounce Urumalqui SilverProject in Peru. JMW and Maxwell are 100% owned by Gitennes. RALand New Mosher are under option from Kintavar Exploration and Gitennescan earn an initial 70% and has the right to increase its ownership to85%. The Snowbird Property was recently optioned to a goldexploration company.
Qualified Person
The scientific and technical information contained inthis news release has been reviewed and approved by Wayne Holmstead(P.Geo.), who is a "qualified person" within the meaning ofNational Instrument 43-101.
For further information on the Company, readers arereferred to the Company’s website at www.gitennes.com and itsCanadian regulatory filings on SEDAR at www.sedar.com .
Gitennes Exploration Inc.
“Ken Booth”
Ken Booth
President
For further information, please contact: KenBooth
Phone: 604-682-7970, Email: info@gitennes.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
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Cautionary Note RegardingForward-Looking Information
This news release includes certain statements thatconstitute "forward-looking information" within the meaningof applicable Canadian securities laws concerning the business,operations and financial performance and condition of the Company. All statements in this news release that are not purely historicalare forward-looking statements and include any statements regardingbeliefs, plans, expectations and orientations regarding the future. Often, but not always, forward-looking statements can be identifiedby words such as "pro forma", "plans","expects", "may", "should","budget", "schedules", estimates","forecasts", "intends", "anticipates","believes", "potential" or variations of suchwords including negative variations thereof and phrases that refer tocertain actions, events or results that may, could, would, might orwill occur or be taken or achieved. Such forward-looking statementsinclude, among others, statements as to the anticipated business plansand timing of future activities of the Company, including the exerciseof any property Options and to conduct exploration activities thereon. Actual results could differ from those projected in anyforward-looking statements due to numerous factors including risks anduncertainties relating to exploration and development and actualresults of exploration activities; the ability of the Company toobtain additional financing; delays in obtaining governmental andregulatory approvals (including of the TSX-V), permits or financing;the need to comply with environmental and governmental regulations;potential defects in title to the Company's properties; fluctuationsin the prices of commodities and precious metals; operating hazardsand risks; environmental issues and liabilities; and competition andother risks and uncertainties of the mining industry. Although theCompany believes that the beliefs, plans, expectations and intentionscontained in this news release are reasonable, there can be noassurance that those beliefs, plans, expectations or intentions willprove to be accurate. Readers should consider all of the informationset forth herein and should review the Company’s periodic reportsfiled from time-to-time with Canadian securities regulators. Thesereports and the Company's filings are available at www.sedar.com.
Readers are cautioned not to place undue reliance onforward-looking statements. The forward-looking statementscontained in this news release are made as of the date of this newsrelease and, except as otherwise required by law, the Companyundertakes no obligation to update the forward-looking statementscontained herein, or to update the reasons why actual results coulddiffer from those projected in these forward-looking statements.
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