GIT:CC - Gitennes' JMW Gold Property Diamond Drilling Results Chapais-Chibougamau area Quebec
(TheNewswire)
Vancouver, B.C. - TheNewswire - May 15, 2023 - GitennesExploration Inc. ("Gitennes" or the "Company") – (TSXV:GIT) announces results from the diamonddrilling program completedon its 100% owned JMW gold property in theChapais-Chibougamau area of Quebec (see Figure 2).
The diamond drilling program totalled 984 metres in fiveholes (Figure 1). Four holes were drilled intosedimentary rocks and targeted Induced Polarization (“IP”)geophysical anomalies. One hole was drilled across the northerncontact between the intrusives and volcanics .
The sedimentary rocks andintrusive contacts are known to host golddeposits and occurrences in the Chapais-Chibougamau area .
Figure 1 :Drill hole locations, Geology and InducedPolarization Chargeability Anomalies.
Of the four drill holes that were targeting strong IPanomalies, all four intersected at least one of the following: ductileshearing, graphitic cataclastic faulting, stringer to semi-massivesulphide (pyrrhotite+/-pyrite), and/or magnetite-bearing sheared ironformation. Furthermore, graphitic lithologies and sheared/faultedequivalents often displayed increased disseminated sulphide. Thissuggests that the IP survey was successful at identifying thesefeatures which are known to be associated with gold mineralizingsystems in sedimentary rocks in the Chapais-Chibougamau area.
Gold assays mainly showed less than 0.50 g/t over twoto 20 metres, particularly in holes 22JMW-02 and 22JMW-05. Theselow-grade intervals were associated with deformed volcanogenicintervals with known sulfides (pyrite and pyrrhotite)occurrences.
Hole 22JMW-03 had an interval of 7.23 g/t gold over 0.7metres (114m - 114.7m) characterized by notablequartz-carbonate veining and intense structural deformation andsericite alteration along the hanging wall of the mineralizedinterval.
Figure 2: JMW Property and Gitennes’ other propertiesin Chapais – Chibougamau area
The Company also announces that the optionee on boththe JMW and Maxwell properties will not be continuing with the optionsand has returned the properties to Gitennes.
About Gitennes ExplorationInc.
Gitennes is in the business of exploring for andadvancing mineral properties with a focus on high grade gold. TheCompany currently has three properties in the Chapais-Chibougamau areaof Quebec: New Mosher, JMW and Maxwell, and three properties in theGaspe Region of Quebec: VG Boulder, Serpenphior and Puma, the Snowbirdgold property in British Columbia and a 1.5% Net Smelter Returnroyalty on the 18 million ounce Urumalqui Silver Project in Peru. All properties are 100% owned by Gitennes except for New Mosherwhich is under option and Gitennes can earn an initial 70% and has theright to increase its ownership to 85%. The Snowbird Property hasbeen optioned to a gold exploration company.
Qualified Person – The technical content in this release has been reviewedand approved by Mitchell E. Lavery, P.Geo, who is a Qualified Personas defined by National Instrument 43-101, Standards of Disclosure forMineral Projects.
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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