GIT:CC - Gitennes' Maxwell Gold Property Geophysical Survey Commences and JMW Property Diamond Drilling to Begin Chapais-Chibougamau Area Quebec
(TheNewswire)
Vancouver, B.C., - TheNewswire - November 29 , 2022:Gitennes Exploration Inc. ("Gitennes"or the "Company") - (TSXV – GIT)announces that a 1,000 line kilometre airborne Triaxial Gradient Magnetometer (“MAG”) survey has commenced on its 100% owned Maxwell gold property (“Maxwell”) in the Chapais-Chibougamau area of Quebec (seelocation map below) . The MAG survey will coverthe entire 9,400-hectare property.
Maxwell is situated between twoof Iamgold Corporation’s properties with theMonster Lake high grade gold property six km to the east (see Figure1). Maxwell has several occurrences of gold in both the fine andheavy fraction of glacial tills and the gold in tills is associatedwith mapped structures. The structures are northeast trending,similar to Iamgold’s Nelligan property. Maxwell has seen verylittle exploration and several EM geophysical anomalies remainuntested.
Figure 1 – Maxwell Property
Gitennes has optioned Maxwell and its JMW property toNewfoundland Discovery Corp. and Newfoundland Discovery can initiallyearn a 70% interest in each property with the right to earn anadditional 15% interest. Newfoundland Discovery is planning to spendapproximately $800,000 between the two properties with diamonddrilling at JMW anticipated to commence shortly.
Maxwell Property and Gitennes’ other properties inthe Chapais-Chibougamau area
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 from Kintavar Exploration and Gitennes can earnan initial 70% and has the right to increase its ownership to 85%. The JMW, Maxwell and Snowbird Properties have been optioned to goldexploration companies.
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
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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