GILXF - Gitennes' Evaluation of Induced Polarization Survey Shows Chargeability Anomalies Associated with Historic Gold Values on New Mosher Gold Property
(TheNewswire)
Vancouver, B.C. - TheNewswire- March 10 , 2021 -Gitennes Exploration Inc. ("Gitennes"or the "Company") (TSXV:GIT) (OTC:GILXF) announces thatthe Induced Polarization (“IP”) geophysical survey on its NewMosher gold property in the Chapais-Chibougamauarea of Quebec (see Figure 2) has been initially reviewed by Gitennespersonnel and has returned positive results . New Mosher is located three kilometres fromthe past producing Joe Mann Mine which produced approximately 1.2million ounces of gold at an average grade of 8.3 g/t gold (1) plus silver and copper.
Highlights of IP Survey andHistorical Data Review
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- Identified chargeability anomalies similar inorientation to gold bearing structures at nearby Joe Mann Mine;
- Anomalies at New Mosher are associated with historicgold values
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- Gold values in historic drill holes on two of theanomalies
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- 8.1 g/t gold over 0.25metres ;
- 1.87 g/t gold over 5.1metres
- Historic drilling was shallow and did notcomprehensively test areas;
- New Mosher showing had historically reported gradesof 16 g/t & 20 g/tgold
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- High chargeability values up to 100 MSec;
- Recent IP survey along with historical IP survey nowcovers the entire Property;
- One target area corresponds to historically reportedboulder with visible gold;
- Further enhances Gitennes’ ability to plan imminentupcoming diamond drill programme;
- Further evaluation of data will produce additionalanomalies/targets.
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Preliminary evaluation of the IP survey has identifiedat least two prominent chargeability anomalies that are associatedwith surface grab samples and historic diamond drill holeintersections with significant gold values (see Figure 1 below).
Figure 1: IP Chargeability high(shown in pink) with associated features and historic drilling andsampling.
In addition, two previously identified, northeasttrending, fault zones have been verified by the IP survey. Continuing evaluation of the IP survey data will continue to produceadditional, high chargeability anomalies.
Gitennes President Ken Booth commented “The positiveresults from the IP survey on its own are very encouraging but to havegold values in drill holes and surface samples associated with highchargeability anomalies is significant and increases what was alreadya prospective gold property. Additionally andkey for the property is that the strong anomalies have a similarorientation to the gold bearing structures at a past producing goldmine that is three kilometres away and that is being actively exploredto find more ounces. With drill permits in place Gitennes is movingforward with a diamond drilling programme at New Mosher and looksforward to starting the programme this spring”.
Anomaly A (Figure 1) has been traced for approximately1.5 kilometres and is identified by multiple >30 MSec.chargeability highs. Limited surface sampling in 2018 from grabsamples by Gitennes’ partner returned gold values of:
5.66 g/t, 2.73 g/t, 0.34 g/t and 0.31g/t
Diamond drilling by Noranda in 1987 (Quebec AssessmentFile GM47698) intersected gabbro with quartz veining and sulphides andreturned gold values in one hole of:
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- 3.3 g/t over 0.75m
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- including 8.1 g/t over 0.25m* at32.7m down-hole depth
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and
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- 1.87 g/t over 5.1m
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- including 4.0 g/t gold over 0.4m*at 65.3m down-hole depth
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Anomaly B (Figure 1) has been traced for approximately1.8 kilometres and is identified by chargeability values in excess of100 MSec with an associated resistivity low. Five historic shallowdrill holes have intersected this anomaly in diamond drilling by NewJersey Zinc in 1955 (Quebec Assessment File GM04213B). Gold valueswere intersected in four of the five widely spaced holes and consistedof:
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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.
Mineralized zones encountered in the historic drillingseem to be associated with feldspar porphyry dikes intruded intovolcanic rocks of andesitic composition. Both units are mineralizedwith varying degrees of sulphide including pyrrhotite, pyrite andchalcopyrite mineralization up to about 25%. Minor seams of massivesulphide and magnetite are also recorded in the drill corelogs.
It is important to note that onlya small percentage of the length and width of Anomaly B has beentested by diamond drilling and surface sampling has also been sparse. The area has been recently cleared for logging and should revealbetter exposure for surface sampling.
Two other areas of interest have been identified. Onthe northwest shore of Petit Lac Norhart (identified as Area 1 onFigure 1), three holes were drilled in 1951. All of the holesintersected greater than two metre wide quartz veins in volcanic rockswith the best intersection described as 14.6m of sheared quartzcontaining pyrite and chalcopyrite. Analyses were sparse in theseholes but one interval returned a gold value of 0.62 g/t over 1.52m .
The other area of interest is in the north centralportion of the property (indicated as Area 2 on Figure 1). Historicwork here was prompted by the discovery of a large boulder containingvisible gold as described in a 1958 Report (Quebec Assessment FileGM06701A) and described the boulder as a “large angular erratic or floatcontaining specks of free gold” . The boulderis also described as having a “sharply angular nature” indicatingpossible glacial transport and a local source. The location in which the boulder was located “is also believed torepresent the eastern continuity of the gold-copper bearing shearfound near the western extremity of the holdings, approximately onemile distant”. The location noted would correspond to the westernend of Anomaly A described above. A “showing” is noted in thegeneral location of the mineralized boulder but no details are givenas to the nature of the showing. A series of very short x-raydiamond drill holes are noted in the vicinity of the mineralizedboulder but no analyses are noted.
Other chargeability anomalies and data from themagnetic survey completed at that same time as the IP survey on theProperty are currently being analyzed and evaluated. Gitennes has adiamond drill programme fully permitted and the programme will befinalized following full evaluation of the geophysical resultscombined with evaluation of historical work on the Property.
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(1) Readers are cautioned thatthe Company has no interest in or right to acquire any interest in theJoe Mann 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
Figure 2: Quebec properties –JMW and Maxwell 100%, New Mosher & RAL – option to earn up to85%
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 its Canadianregulatory 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
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