GIT:CC - Gitennes Receives Analyses for Recent Drill Program New Mosher Gold Property Chapais-Chibougamau area Quebec
(TheNewswire)
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Drilling Indicates broad zones ofanomalous gold and alteration
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Anomalous gold values Intersected inall seven holes
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Visible gold near the top of HoleNM-22-04 may indicate gold mineralization may be related to a large,regional fault running through lake west of the New Mosher goldshowing
Vancouver, B.C., - TheNewswire - May 16 2022: Gitennes Exploration Inc. ("Gitennes" or the"Company") – (TSXV:GIT) announcesthat analyses have been received on a recent drill program consistingof seven holes totaling 1,002 metres with six of theholes being drilled at the New Mosher Showing (See Figure 1) onits New Mosher gold property , Chapais-Chibougamau area of Quebec.
Results are listed below:
Table 1: Gold Results from Phase 2 Drilling
Figure 1 – Phase 2 (2022) drill hole locations inrelation to Phase 1 (2021) Drilling .
Anomalous gold values were intersected in broad zonesof silica, chlorite and sericite alteration. Traces of arsenopyritewere also noted. Hole NM-22-01 indicates the New Mosher gold zone isstill open to the east. From 21.5 m to 37.9 m, 0.33 g/t Au over 16.4m was detected in a zone of strong alteration. This sectionincluded 0.51 g/t Au over 7.8m and 1.47 g/t over 1.05 m (true width isapproximately 70% of the intersection).
Hole NM-22-04 was collared approximately 50 m from theNew Mosher Showing and coarse visible gold was observed 19 m downholeand is located at the contact of a quartz vein within mafic volcanics.The visible gold section was not sent to the lab so as not to skewanalyses; however, the sample will be submitted for metallic sieveanalysis in order to determine the size fraction where the goldresides.
It is significant that the visible gold was intersectedclose to the lake. It has been noted on regional maps that the lakecovers a large northwest trending fault zone that may be the source ofthe gold mineralization on the New Mosher Property. (See Figure 3). A parallel fault runs through the Joe Mann Mine area about 4.5 km tothe southwest. Future work will focus on this part of the Propertywhich historically has not been tested.
Figure 2: Visible gold in NM-22-04 in dry core (Left)and in wet core (Right).
Figure 3: Government mapped, northwest trending faultrunning through New Mosher Property. Similar faults are noted to noted to be in the vicinity of significant gold mineralization such as the Joe MannMine.
Figure 4 –New Mosher Property and Gitennes otherproperties in Chapais-Chibougamau area
The New Mosher Property is located 4.5 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) plussilver and copper.
(1) Readers are cautioned that the Companyhas no interest in or right to acquire any interest in the Joe Mannmine and that mineral deposits and production results from the JoeMann mine are not indicative of mineral deposits on the Company'sproperties or any potential exploitation thereof. Source: TechnicalReport on the Joe Mann Mining Property dated January 11, 2016,prepared by Geologica Inc.
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 Snowbird Property has been optioned to a gold explorationcompany.
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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