(TheNewswire)
Vancouver, B.C. - TheNewswire - November 10 , 2020: Gitennes ExplorationInc. ("Gitennes" or the"Company") - (TSXV:GIT) (OTC:GILXD) announces that explorationon its JMW gold propertyis progressing and that crews have been active on thisProperty as well as the Riviere-a-l'Aigle ( " RAL " ) andNew Mosher properties all in the Chibougamauarea of Quebec .
Gitennes owns 100% of JMW which is located along theGuercheville Deformation Zone which is host to the past producing JoeMann mine and several high grade prospects. The JMW property hasproven gold mineralization and visible gold in drill holes associatedwith a major deformation zone. The Joe Mann mine producedapproximately 1.5 million ounces of gold at an average grade of 8.3g/t gold (1) . In addition,the Fenton-Sud Prospect which has a historically reported 426,173tonnes at a grade of 4.66 g/t gold (1) is located about 12 km northwest ofthe JMW property on the same trend.
Work to date by Gitennes' field personnel has focusedon establishing access and following up on strong geophysicalanomalies detected by previous operators. Access is proving to begood over most of the property owing to active logging, allowing crewsto survey the key areas. Already crews have outlined areas that willrequire further follow-up to determine the source of the geophysicalanomalies. The Company expects to receive a detailed litho-structuralanalysis of JMW which will help focus exploration.
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(1) Readers are cautioned thatthe Company has no interest in or right to acquire any interest in theJoe Mann mine or Fenton Sud Property , and that mineral deposits and production results from theJoe Mann mine are not indicative of mineral deposits on the Company'sproperties or any potential exploitation thereof .
Exploration by previous operators included airborne andground geophysical surveys, geological mapping and prospecting anddiamond drilling. The majority of the past work was done in the1980's in the vicinity of the Guercheville Deformation Zone in apackage of felsic and mafic volcanic rocks, intruded by porphyriticrocks all with varying degrees of sulphide and quartz mineralization. Gold mineralization detected in the past has been associated with themineralized porphyritic rocks and sericite schists (altered felsicvolcanics) and diamond drilling in the 1980's included:
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- 0.52 g/t gold over 12.2 metres in a mineralized,felsic porphyry intruded into sericite schists.
- 0.31 g/t gold over 11.6 metres was intersected about60 metres downhole near the south boundary of a felsic porphyryintrusion with quartz veining and pyrite mineralization.
- 0.83 g/t gold over 9.1 metres also in a mineralized,felsic porphyry in between mafic volcanic rocks to the north andsericite schists to the south.
As well, many holes drilled to the north of theGuercheville Deformation Zone intersected anomalous goldmineralization.
More recently, work by other operators has focussed onareas north of the 1980's drilling. Grab samples included; 5.02,4.83, and 4.08 g/t gold in intrusive rocks with quartz veining anddisseminated pyrite as well as altered porphyritic rocks with quartzveining and pyrite mineralization.
Present work will focus on determining access to theproperty and the location of past work including, trenches, strippedareas, grab samples and drill hole locations. Three different modelswill be used to guide this work.
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1) Previous drilling in the1980's was relatively shallow and gold intersections have demonstratedgood widths 9-12 metres with grades from 0.5 to 0.8 g/t gold. Thiscould indicate that drilling intersected the peripheral margin of moresignificant grades. Deeper drilling will be a way to test thismodel.
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2) Sampling by past explorershave indicated that the intrusive rocks to the north of most of theprevious drilling returned gold in grab samples as high as 4 to 5 g/tgold. These areas will be investigated further with geophysics andsampling.
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3) Exploration on strike with theJMW property by other companies has indicated that gold may also beassociated with sedimentary rocks to the south of the GuerchevilleDeformation Zone. The JMW property has a thick sequence of theserocks that have seen little exploration in the past.
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 Quebec, JMW, RAL and NewMosher, the Snowbird gold property in British Columbia and a 1.5% NetSmelter Return royalty on the 18 million ounce Urumalqui SilverProject in Peru. JMW is 100% owned by Gitennes. RAL and New Mosherare under option and Gitennes can earn an initial 70% and has theright to increase its ownership to 85%.
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:
Ken Booth
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 historical areforward-looking statements and include any statements regardingbeliefs, plans, expectations and orientations regarding the future. Often, but not always, forward-looking statements can be identified bywords 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 statements containedin this news release are made as of the date of this news release and,except as otherwise required by law, the Company undertakes noobligation to update the forward-looking statements contained herein,or to update the reasons why actual results could differ from thoseprojected in these forward-looking statements.
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