Gitennes Update on Diamond Drilling and Discovery of New Showing at New Mosher Gold Property, Chapais-Chibougamau area, Quebec
Vancouver, B.C. - TheNewswire - May 11, 2021: Gitennes Exploration Inc. ("Gitennes" or the "Company") – (TSXV:GIT) provides an update on the first phase of diamond drilling on its New Mosher Gold Property and the discovery of a new, mineralized showing. The Company has completed ten holes for approximately 1,700 metres (Figure 1). Through prospecting, the Company has discovered a new zone of mineralization on the Property that coincides with a strong IP chargeability anomaly in the northeastern portion of the Property. The new showing may be related to a large, angular boulder that was discovered on the property in 1958 that was reported to contain visible gold. The first phase of drilling is planned for a minimum of 2,500 metres and is targeting areas of Induced Polarization, (“IP”) high chargeability anomalies that are associated with historic gold values in diamond drilling and will now include drill holes to test mineralization of the new showing (Figure 1 and 4).
Figure 1: IP Chargeability high (shown in pink) with associated features.
Highlights of Current Drilling:
All holes in both areas successfully intersected altered and mineralized zones with quartz-carbonate veining.
Five holes have been drilled on the New Mosher gold zone and along Anomaly A; - Holes showed extensive quartz-carbonate veining, locally sericitic, and several metres wide in a deformation corridor (Figure 2) - Sulphide mineralization includes pyrite, pyrrhotite with local chalcopyrite and arsenopyrite.
Five holes drilled along Anomaly B which has been associated with historical gold intersections in diamond drill holes; - Holes have intersected quartz-carbonate veining mineralized with pyrite, pyrrhotite and traces of arsenopyrite. XRF Analyzer detected arsenic and gold in the mineralized section (Figure 3). - Deeper holes have intersected a second zone of pyrrhotite mineralization with minor pyrite and chalcopyrite; - Garnet enrichment in the mafic volcanics has been observed near mineralization of the second zone. - Holes intersected several generations of quartz-feldspar porphyry dikes, some altered and mineralized.
Figure 2 and 3: Mineralized Core from Anomaly A, Nouth Zone (left photo) and Anomaly B, South Zone (right photo).
A new showing was found associated with one of the numerous IP Chargeability anomalies detected in a survey completed last winter (see Figure 1). The showing was mechanically stripped, mapped and sampled. The showing consists of several quartz veins hosted in altered mafic volcanics and some of the veins are in contact with what appears to be quartz feldspar porphyry (Figure 4). Mineralization consists of pyrrhotite, pyrite and chalcopyrite. The new showing is in an area of high chargeability and provides another viable target that will be tested with diamond drilling following the drilling of Anomaly A and B (Figure 5).
Figure 4: New Showing associated with Induced Polarization chargeability anomaly. Quartz vein in contact with quartz feldspar porphyry.
Click Image To View Full Size Figure 5: Induced Polarization Pseudosection with location of New Showing and Unexplored Anomalies
Gitennes President Ken Booth commented: “The Company is pleased with progress of the drill programme and what we are seeing in drill core as evidenced by the pictures above. The drill programme combined with recent surface exploration has been successful in ground proofing the off-season research done by the Gitennes. The locations of historic drill holes with significant gold intersections going back to the 1950's have been verified by the present drill programme. In addition, the new, mineralized showing which was discovered by Gitennes’ prospecting can be related to a historically reported boulder containing visible gold.
Gitennes is realizing that it is just scratching the surface on the New Mosher property as most of the Induced Polarization anomalies have only received a very preliminary evaluation.
Diamond drilling is continuing and surface work will resume next month. Preliminary analyses for the drilling and surface work are expected in mid to late-June”
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing mineral properties with a focus on high grade gold. The Company currently has four properties in Quebec: New Mosher, JMW, RAL, and Maxwell, the Snowbird gold property in British Columbia and a 1.5% Net Smelter Return royalty on the 18 million ounce Urumalqui Silver Project in Peru. JMW and Maxwell are 100% owned by Gitennes. RAL and New Mosher are under option from Kintavar Exploration and Gitennes can earn an initial 70% and has the right to increase its ownership to 85%. The Snowbird Property has been optioned to a gold exploration company.
Click Image To View Full Size Gitennes Quebec properties – JMW and Maxwell 100%,
New Mosher & RAL – option to earn up to 85%
The scientific and technical information contained in this news release has been reviewed and approved by Wayne Holmstead (P.Geo.), who is a "qualified person" within the meaning of National Instrument 43-101.
For further information on the Company, readers are referred to the Company’s website at www.gitennes.com and its Canadian regulatory filings on SEDAR at www.sedar.com.
Gitennes Exploration Inc.
Ken Booth President
For further information, please contact: Ken Booth
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Cautionary Note Regarding Forward-Looking Information
This news release includes certain statements that constitute "forward-looking information" within the meaning of 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 are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future. Often, but not always, forward-looking statements can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "schedules", estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Such forward-looking statements include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the exercise of any property Options and to conduct exploration activities thereon. Actual results could differ from those projected in any forward-looking statements due to numerous factors including risks and uncertainties relating to exploration and development and actual results of exploration activities; the ability of the Company to obtain additional financing; delays in obtaining governmental and regulatory 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; fluctuations in the prices of commodities and precious metals; operating hazards and risks; environmental issues and liabilities; and competition and other risks and uncertainties of the mining industry. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that those beliefs, plans, expectations or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should review the Company’s periodic reports filed from time-to-time with Canadian securities regulators. These reports and the Company's filings are available at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as otherwise required by law, the Company undertakes no obligation to update the forward-looking statements contained herein, or to update the reasons why actual results could differ from those projected in these forward-looking statements.
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