(TheNewswire)
Vancouver, B.C. - TheNewswire- December 15 , 2020 -Gitennes Exploration Inc. ("Gitennes"or the "Company") (TSXV:GIT) (OTC:GILXD) announces thatit has staked 1 19 claimstotaling 6,642 ha approximately 14 km south of Chapais, Quebec,six km west of the Monster Lake high grade goldproperty currently beingexplored by Iamgold and 18 km north east of the 100% owned Gitennes JMW gold property. (seelocation map below). With its focus and recent work in theChapais-Chibougamau area Gitennes staked the new property after reviewof government reports , surveys and assessment reports and concluded the geology wasmore prospective than had been previously mapped by previousoperators. The new property also contains several anomalous areas ofgold in till sampling andcopper mineralization in drill holes and surfacesampling (see Figure 1) .
As a result of the research done by Gitennes, it wasrealized that what was previously mapped as tonalitic rocks wereactually a package mafic to felsic volcanics rocks cut by multiplenortheast trending fault structures. Historical drilling, althoughsparse, intersected semi massive to massive sulphides associated withgeophysical conductive zones.
PropertyHighlights
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- Anomalous gold in fine fraction till, up to 820 ppb (0.82 g/t);
- Anomalous gold in heavy fraction till, up to 340 ppb (0.34 g/t) ;
- Gold in tills associated with mappedstructures;
- Structures are northeast trending and parallelstructures at Iamgold’s Monster Lake gold property;
- Geology is very favourable
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- Volcanic environment with massive sulphide horizonsintersected in drilling;
- Previously mapped as intrusive;
- Channel samples by previous operatorsreturned:
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- 2.0% copper over 0.5 metres and 1 . 2%copper over 0.15 metres;
- Very little previois exploration:
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- Several untested EM (Electromagnetic)anomalies
- 100% ownership, no royalties;
- Infrastructure is excellent – road accessible,powerline crosses the Property.
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Figure 1 – New Property (Maxwell Property)
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 hasthree properties in Quebec, JMW, RAL and New Mosher, the Snowbird goldproperty in British Columbia and a 1.5% Net Smelter Return royalty onthe 18 million ounce Urumalqui Silver Project in Peru. JMW is 100%owned by Gitennes. RAL and New Mosher are under option and Gitennescan earn an initial 70% and has 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 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.
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 the Options to acquire the New Mosher, RAL and Snowbird Propertiesand to conduct exploration activities thereon. Actual results coulddiffer from those projected in any forward-looking statements due tonumerous factors including risks and uncertainties relating toexploration and development and actual results of explorationactivities; the ability of the Company to obtain additional financing;delays in obtaining governmental and regulatory approvals (includingof the TSX-V), permits or financing; the need to comply withenvironmental and governmental regulations; potential defects in titleto the Company's properties; fluctuations in the prices of commoditiesand precious metals; operating hazards and risks; environmental issuesand liabilities; and competition and other risks and uncertainties ofthe mining industry. Although the Company believes that the beliefs,plans, expectations and intentions contained in this news release arereasonable, there can be no assurance that those beliefs, plans,expectations or intentions will prove to be accurate. Readers shouldconsider all of the information set forth herein and should review theCompany’s periodic reports filed from time-to-time with Canadiansecurities regulators. These reports and the Company's filings areavailable 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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