GILXF - Gitennes Samples up to 75.7 g/t Gold and identifies visible gold on its VG Boulder Property Gaspe Region of Quebec
(TheNewswire)
Vancouver, B.C. - TheNewswire - February 10 , 202 2 : Gitennes Exploration Inc. ("Gitennes" or the"Company") – (TSXV:GIT) announcesthat sampling on its 100% owned VG Boulder Property during areconnaissance programme in late 2021 returned values up 75.7 g/tgold. Anomalous analyses were obtained from 10 of 13 samples withvalues ranging from 0.186 to 75.7 g/t gold, including 8.54, 3.83and 1.55 g/t gold. The samples were taken from angular rubble in acreek bed over a length of 165 metres and the high grade samplesappear to be sub-crop or close to being in-situ (Figure 3). Inaddition, three samples taken from an outcrop about 3.6 km northeastof the high grade sample analyzed 1.54, 0.952 and 0.387 g/t gold(Figure 3).
The VG Boulder property has seen little past work andthe showings are undrilled. Gitennes plans to return to VG Boulder assoon as weather permits in the spring for a mapping and prospectingcampaign.
PropertyHighlights
-
Gitennes finds visible gold in boulders in twolocations on the Property; Analyses as high as75.7 g/t gold (Figures 1 and 2);
-
Historical gold showing located(22.4 g/t) and antimony (15.4%) in outcrop 3.6 km northeast of Boulder Showing, new showing in outcropidentified. (Figure 3);
-
Geology is comparable to that of Gander, Newfoundlandwhere significant gold mineralization has been identified.(Figure4);
-
5,787 hectare property covers favourable geology andkey regional structures.
Figure 1: Brecciated sediment with quartz flooding andvisible gold (enlargement in Figure 2)
Figure 2: Close-up of quartz with visible goldmineralization from Figure 1
Figure 3: VG Boulder Property (black outline) withGitennes Sampling (yellow boxes) and Historical Highlights
The VG Boulder Property is located in the Gaspe Regionof Quebec (Figure 5) and covers geology and structure that is similarto recent gold discoveries in Newfoundland. The gold mineralizationin the region is traditionally hosted by structures related to theGrand Pabos Fault, a major regional structurethat can be traced across the entire Gaspe Peninsula and intoNewfoundland where major gold discoveries have been made recently(Figure 4).
Regional Context andDiscussion
Recent research has revealed that gold mineralizationis related to the Ordovician to Silurian-aged closing of the IapetusOcean. This ancient suture in the earth’s crust extends from NorthAmerica, through the Gaspe Peninsula, Newfoundland, across theAtlantic Ocean to Ireland (Figure 4). Major gold deposits areassociated with this event in Newfoundland and Ireland and structureis found to be a key aspect of these deposits and the critical controlof gold mineralization including gold mineralization in the GaspeRegion of Quebec
Figure 4: Global Significance of Closing of theIapetus Ocean and Relation to Gold Deposits including mineralizationon Gitennes Properties labelled Gaspe Gold.
.
Figure 5: Location Map – Gitennes GaspeProperties
About Gitennes ExplorationInc.
Gitennes is in the business of exploring for andadvancing mineral properties with a focus on high grade or large tonnage gold deposits . The Company currently hasfive gold properties in Quebec, JMW, New Mosher, Maxwell, VG Boulderand Serpenphior, the Snowbird gold property in British Columbia and a1.5% Net Smelter Return royalty on the 18 million ounce UrumalquiSilver Project in Peru. Gitennes owns 100% of its Quebec goldproperties except for New Mosher which is under option for Gitennesto earn an initial 70% with the right to increase its ownership to85%.
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 lawsconcerning the business, operations and financial performance andcondition of the Company. All statements in this news release thatare not purely historical are forward-looking statements and includeany statements regarding beliefs, plans, expectations and orientationsregarding the future. Often, but not always, forward-lookingstatements can be identified by words such as "pro forma","plans", "expects", "may","should", "budget", "schedules",estimates", "forecasts", "intends","anticipates", "believes", "potential"or variations of such words including negative variations thereof andphrases that refer to certain actions, events or results that may,could, would, might or will occur or be taken or achieved. Suchforward-looking statements include, among others, statements as to theanticipated business plans and timing of future activities of theCompany, including the exercise of the Option to acquire the NewMosher, RAL and Snowbird Projects and to conduct explorationactivities thereon. Actual results could differ from those projectedin any forward-looking statements due to numerous factors includingrisks and uncertainties relating to exploration and development andactual results of exploration activities; the ability of the Companyto obtain 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.
Copyright (c) 2022 TheNewswire - All rights reserved.