(TheNewswire)
Vancouver, B.C. - TheNewswire- October 14 ,2020 - GitennesExploration Inc. ("Gitennes" or the"Company") (TSXV:GIT) announces thatexploration on its three Quebec gold properties will commence in thelatter half of October. The properties, JMW, Riviere-a-l'Aigle ( " RAL " ) and New Mosher are all in areasof active exploration (see location map below).
JMW
Gitennes owns 100% of JMW which is located along theGuercheville Deformation Zone which is host to several high gradeprospects as well as the past producing Joe Mann mine. The mineoperated 27 of the years from 1956 to 2007 and produced approximately1.5 million ounces of gold at an average grade of 8.3 g/tgold (1) . In addition, theFenton-Sud Prospect which has a historically reported 426,173 tonnesat a grade of 4.66 g/t gold (1) is located about 12 km northwest of the JMW property on thesame trend. Previous work on the JMW property has confirmed the goldbearing structure with gold mineralization within altered andmineralized felsic intrusives within the deformation zone. Gitennesinitial exploration programme will consist of mapping, sampling andfollow up on several geophysical anomalies. The Company is alsoconducting a detailed structural analysis of JMW as it appears thefavourable gold bearing lithologies are repeated across theproperty.
Readers are cautioned that the Company has no interestin or right to acquire any interest in the Joe Mann mine or Fenton Sud Property , and thatmineral deposits and production results from the Joe Mann mine are notindicative of mineral deposits on the Company's properties or anypotential exploitation thereof .
RAL and New Mosher
RAL and New Mosher are under option from KintavarExploration and Kintavar will be the operator of the upcoming workprogrammes on both properties. Kintavar willbring to Gitennes its experience and knowledge of the Quebec geology,infrastructure and logistics on the ground. The team is led byKintavar's VP Exploration Alain Cayer, P.Geo, recipient of the BillDenis Prospector of the Year Award for the Eleonore mine discoverywith Virginia Gold Mines and also discovered the Anik property along the Guerchevilledeformation zone, now being advanced in partnership by IAMGOLD and on the same trend as theJMW property.
RAL is located adjacent to OsiskoMining Inc.'s Windfall Lake property and consists of 119 claimstotalling 6,600 hectares. Work to date on RAL has produced stronggeochemical anomalies in tills that appear to be associated with majorfaults and shear zone axes. Initial work will focus on the three mostpromising targets that were identified by Kintavar during its mostrecent work which included till sampling and returned grades up to 3.6g/t gold (range from 0.1 g/t gold to 3.6 g/t gold). Work will includesoil sampling and line cutting with a proposed Induced Polarizationgeophysical survey to be conducted later in the year.
The New Mosher property is approximately fivekilometres north east of the Joe Mann mine and consists of 12 claimstotaling 670 hectares. Mineralization on New Mosher is within asheared gabbro and basalt with mesothermal type gold-bearing quartzveins and historically reported sampling revealed grab samples up to16.7 g/t gold in outcrop and 8.1 g/t gold over 0.25m, 3.03 g/t goldover 1.4m and 2.43 g/t gold over 1.6m in diamond drilling (1) . Recent sampling by Kintavar hasidentified several anomalous areas; however, much of the propertyremains untested.
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(1) Readers are cautioned that a"qualified person" (as defined by National Instrument43-101) has not yet completed sufficient work to be able to verify thehistorical information, and therefore the information should not berelied upon.
The Company also announces that Wayne Holmstead, P.Geowill be joining the Company to act as Manager of Exploration. Wayneis a graduate from the University of Toronto with a B.Sc. in Geologyand has over 40 years' experience in mineral exploration and projectadministration with much of that experience in Quebec. He has managednumerous junior exploration companies and held the position ofPresident, Vice President Exploration and Director. In 2018 Wayneco-founded UrbanGold Minerals and researched and staked many of theproperties currently in UrbanGold.
Gitennes is also granting1,875,000 incentive stock options to directors, officers andconsultants. Each option is exercisable at $0.165 per share and has aterm of five years. This grant of options remains subject toacceptance by the TSX Venture Exchange.
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 property in British Columbia and a 1.5% NetSmelter Return royalty on the 18 million ounce Urumalqui SilverProject in Peru.
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 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.
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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