GILXF - Gitennes Drill Programme Intersects Gold Mineralization over Significant Widths at New Mosher Property Chapais-Chibougamau Area Quebec
(TheNewswire)
Vancouver, B.C. - TheNewswire - August 18 , 2021: Gitennes Exploration Inc. ("Gitennes" or the"Company") – (TSXV:GIT) announcesthat its first phase of diamond drilling on its New Mosher GoldProperty has returned encouraging results with anomalous goldmineralization over significant widths (Figure 1, 1a, 1b, Table1).
Highlights of Diamond DrillingProgramme
-
- Gold intersected over significant widths (see table1)
-
- 22 metres inhole NM 21-02 grading 0.25 g/t gold
- 9.0 metres inhole NM 21-11 grading 0.71 g/t gold
- 5.0 metres inhole NM 21-08 grading 0.68 g/t gold
- Gold intersections are shallow ;
- 10 of 19 holes intersected anomalous gold mineralization,
- All three areas tested intersected gold mineralization ;
- Broad zones of gold mineralizationcorrelate well with previously identified IP anomalies ;
-
- Associated with intense alteration with quartz-carbonateveining , pyrite,pyrrhotite, chalcopyrite and arsenopyrite .
-
Table 1: Significant Gold Intersections in DiamondDrill Holes
| Area |
| Drill hole |
| Width* (metres) |
| From (metres) |
| To (metres) |
| Gold (g/t) |
| New Mosher |
| NM 21-02 |
| 22 |
| 24 |
| 46 |
| 0.25 |
| Meadow |
| NM 21-08 |
| 5 |
| 16 |
| 21 |
| 0.68 |
| NM 21-11 |
| 9 |
| 66 |
| 75 |
| 0.71 |
| Northe ast |
| NM 21-17 |
| 1 |
| 38 |
| 39 |
| 0.26 |
* True width not known at thistime
Gitennes President Ken Booth commented: “The firstphase drill programme was a success. The Company tested three zoneswith 3,044 metres of drilling and detected gold mineralization in allthree areas. Wide, altered zones mineralized with sulphides andquartz veining intersected in the drilling combined with goldmineralization over significant widths in shallow holes and associatedwith IP chargeability anomalies, the gold potential of the Propertyremains very good”.
Figure 1: Diamond Drill Location Plan
Figure 1a: New Mosher Area Drilling Detail
Figure 1b: Meadow Area Drilling Detail
Gitennes drill results are encouraging and following afull analysis of the results combined with a comparison to historicaldrilling and geophysical surveys completed on the Property by Gitennesin 2021 the Company will look to conduct a second phase of diamonddrilling.
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 the Chapais-Chibougamau areaof Quebec: New Mosher, JMW, RAL, and Maxwell, and three properties inthe Gaspe Region of Quebec: VG Boulder, Serpenphior and Puma, theSnowbird gold property in British Columbia and a 1.5% Net SmelterReturn royalty on the 18 million ounce Urumalqui Silver Project inPeru. JMW, Maxwell, VG Boulder, Serpenphior and Puma are 100% ownedby Gitennes. RAL and New Mosher are under option from KintavarExploration and Gitennes can earn an initial 70% and has the right toincrease its ownership to 85%. The Snowbird Property has beenoptioned to a gold exploration company.
Gitennes Chapais-Chibougamau Quebec properties
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 any forward-looking statements due to numerous factorsincluding risks and uncertainties relating to exploration anddevelopment and actual results of exploration activities; the abilityof the Company to obtain additional financing; delays in obtaininggovernmental and regulatory approvals (including of the TSX-V),permits or financing; the need to comply with environmental andgovernmental regulations; potential defects in title to the Company'sproperties; fluctuations in the prices of commodities and preciousmetals; operating hazards and risks; environmental issues andliabilities; and competition and other risks and uncertainties of themining industry. Although the Company believes that the beliefs,plans, expectations and intentions contained in this news release arereasonable, there can be no assurance that those beliefs, plans,expectations or intentions will prove to be accurate. Readers shouldconsider all of the information set forth herein and should review theCompany’s periodic reports filed from time-to-time with Canadiansecurities regulators. These reports and the Company's filings areavailable 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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