(TheNewswire)
Vancouver, B.C. - TheNewswire - January 21 , 2021: GitennesExploration Inc. ("Gitennes" or the "Company") – (TSXV:GIT) (OTC:GILXD) announces that it willconduct an Induced Polarization (“IP”) survey on its 100% owned JMW gold property located in the Chapais-Chibougamau area of Quebec(Figure 1) . The IP survey will cover the threedistinct types of mineralization that the Company has identifiedf ro m the recent review of work by previousoperators.
Figure 1: JMW Property Location Map with SignificantExploration in the Area
Past IP surveys and drilling on the property focussedon a narrow, 1.5 kilometre strip in the vicinity of the Guerchevillefault zone. This covers less than 50% of the existing property. The new IP survey will verify data from the previous survey as wellas add data on previously uncovered parts of the property.
Gitennes has completed an extensive review of previouswork on JMW including geology, geophysical surveys anddrilling. Based on the review three models are being used to plan thisand future explor ationprogrammes on JMW (seeFigure 2) :
Target 1: Drilling in the 1980’s was relativelyshallow and gold intersections have demonstrated good widths 9-12metres with grades from 0.5 to 0.8 g/t gold. This could indicatethat drilling intersected the peripheral margin of more significantgrades, possibly at depth ;
Target 2: More recently, work by other operators hasfocussed on areas north of the 1980’s drilling. Grab samplesincluded; 5.02, 4.83, and 4.08 g/t gold in intrusive rocks with quartzveining and disseminated pyrite as well as altered porphyritic rockswith quartz veining and pyrite mineralization;
Target 3: Exploration on strike with the JMW propertyby other companies has indicated that gold may also be associated withsedimentary rocks to the south of the Guercheville Deformation Zone. The JMW property has a thick sequence of these rocks that have seenlittle exploration in the past.
Figure 2: Exploration Target Areas on the JMWProperty
JMW is located along the Guercheville Deformation Zonewhich is host to the past producing Joe Mann mine and several highgrade prospects. The JMW property has proven gold mineralization indrill holes associated with a major deformation zone. The Joe Mannmine produced approximately 1.5 million ounces of gold at an averagegrade of 8.3 g/t gold (1) . In addition, the Fenton-Sud Prospect which has a historicallyreported 426,173 tonnes at a grade of 4.66 g/t gold (1) is located about 12 km northwest ofthe JMW property on the same trend.
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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, 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 to mafic volcanic rocks, intruded by porphyriticrocks all with varying degrees of sulphide and quartz mineralization. Gold mineralization detected in the past has been associated withthe mineralized porphyritic rocks and sericite schists (altered felsicvolcanics). 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.
About Gitennes ExplorationInc.
Gitennes is in the business of exploring for andadvancing mineral properties with a focus on high grade gold. TheCompany currently has four properties in Quebec: JMW, RAL, New Mosherand Maxwell, the Snowbird gold property in British Columbia and a 1.5%Net Smelter Return royalty on the 18 million ounce Urumalqui SilverProject in Peru. JMW and Maxwell are 100% owned by Gitennes. RALand New Mosher are under option and Gitennes can earn an initial 70%and has the right 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 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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