GILXF - Gitennes Recent Drilling Contains Visible Gold in Highly Silicified Zone New Mosher Gold Property Chapais-Chibougamau area Quebec
(TheNewswire)
Gitennes Recent Drilling Contains Visible Goldin Highly Silicified Zone, NewMosher Gold Property,Chapais-Chibougamau area, Quebec
Vancouver, B.C. - TheNewswire - February 2 3, 2022: Gitennes Exploration Inc.("Gitennes" or the "Company") – (TSXV:GIT) announces that visible gold was observed in ahighly silicified and sheared zone in Hole NM-22-04 (see Figure 2). As previously announced, the Companyrecently completed 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 (see Figure 3).
Hole NM-22-04 was collared approximately 50 metres fromthe New Mosher Showing and the visible gold was observed 19 metresdownhole and is located at the contact of a quartz vein within maficvolcanics. The highly silicified intersections that contained thevisible gold are up to 23 metres in width and contain up to fourpercent pyrite and 0.5% pyrrhotite as fine disseminations orconcentrated in schistosity and fracture planes. These zones arealso sheared and contain up to 60% to 80% quartz with some displayingchlorite and sericite alteration.
Drill core samples have been sent for analysis withassays expectedlate March or early April.
Figure 1 – New Mosher Showing - S econd phase drill holelocations .
Figure 2: Visible gold in NM-22-04 in dry core (Left)and in wet core (Right).
Figure 2 –New Mosher Property and Gitennes otherproperties in Chapais-Chibougamau area
The New Mosher Property is located three kilometresfrom the 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 area of Quebec: New Mosher, JMW and Maxwell, andthree properties in the Gaspe Region of Quebec: VG Boulder,Serpenphior and Puma, the Snowbird gold property in British Columbiaand a 1.5% Net Smelter Return royalty on the 18 million ounceUrumalqui Silver Project in Peru. All properties are 100% owned byGitennes except for New Mosher which is 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.
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.
Not for distribution to UnitedStates newswire services or for release, publication, distribution ordissemination directly, or indirectly, in whole or in part, in or intothe United States
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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