(TheNewswire)
Vancouver, B.C. - TheNewswire - January 21 , 2022: Gitennes Exploration Inc. ("Gitennes" or the "Company") – (TSXV:GIT) announces that the second phase ofdiamond drilling has commenced at its New Mosher goldproperty , Chapais-Chibougamau area of Quebec(see Figure 2). Two holes have been completed and both holessuccessfully intersected the mineralized zone at the New MosherShowing (Area 1, Figure 1). The New Mosher Showing is the focus ofthe second phase of drilling which is planned for a minimum of 1,000metres
In the first phase of drilling the Company encounteredsignificant widths of anomalous gold (see highlights on page 2). Inaddition to Gitennes’ encouraging results from the first diamonddrill programme the New Mosher Showing (Area 1, Figure 1) has gold inhistorical drilling, 8.1 g/t gold over 0.25 metres and 1.87 g/t gold over 5.1 metres and grab samplesassaying 16 g/t gold and 5.66 g/t gold.
Figure 1 – Area 1 – New Mosher Showing is focus ofsecond phase drill programme
Highlights of First Diamond DrillingProgramme
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Gold intersected over significant widths:
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22 metres inhole NM 21-02 grading 0.25 g/t gold
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9.0 metres inhole NM 21-11 grading 0.71 g/t gold
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5.0 metres inhole NM 21-08 grading 0.68 g/t gold
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Gold intersections are shallow
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10 of 19 holes intersected anomalous gold mineralization,
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All three areas tested intersected gold mineralization
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Broad zones of gold mineralizationcorrelate well with previously identified IP anomalies
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Associated with intense alteration with quartz-carbonateveining , pyrite,pyrrhotite, chalcopyrite and arsenopyrite
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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) plus silver and copper.
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(1) Readers are cautioned that theCompany has no interest in or right to acquire any interest in the JoeMann mine and that mineral deposits andproduction results from the Joe Mann mine are not indicative ofmineral deposits on the Company's properties or any potentialexploitation thereof. Source: Technical Reporton the Joe Mann Mining Property dated January 11, 2016, prepared byGeologica Inc.
Figure 2 –New Mosher Property and Gitennes otherproperties in Chapais-Chibougamau area
The Company also announces that it has appointed Brunet Roy Dube,Chartered Accountants (“BRD”) of Montreal, Quebec as its auditor. BRD is replacing PricewaterhouseCoopers LLP,Chartered Accountants.
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. JMW, Maxwell, VG Boulder, Serpenphior and Puma are 100% owned byGitennes. New Mosher is under option from Kintavar Exploration andGitennes can earn an initial 70% and has the right to increase itsownership to 85%. The Snowbird Property has been optioned to a goldexploration company.
Qualified Person
The scientific and technical information contained inthis news release has been reviewed and approvedby Wayne Holmstead (P.Geo.), who is a "qualified person"within the meaning of National 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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