Vancouver, B.C. - TheNewswire - November 10, 2020: Gitennes Exploration Inc. ("Gitennes" or the "Company") - (TSXV:GIT) (OTC:GILXD) announces that exploration on its JMW gold property is progressing and that crews have been active on this Property as well as the Riviere-a-l'Aigle ("RAL") and New Mosher properties all in the Chibougamau area of Quebec.
Gitennes owns 100% of JMW which is located along the Guercheville Deformation Zone which is host to the past producing Joe Mann mine and several high grade prospects. The JMW property has proven gold mineralization and visible gold in drill holes associated with a major deformation zone. The Joe Mann mine produced approximately 1.5 million ounces of gold at an average grade of 8.3 g/t gold(1). In addition, the Fenton-Sud Prospect which has a historically reported 426,173 tonnes at a grade of 4.66 g/t gold(1) is located about 12 km northwest of the JMW property on the same trend.
Work to date by Gitennes' field personnel has focused on establishing access and following up on strong geophysical anomalies detected by previous operators. Access is proving to be good over most of the property owing to active logging, allowing crews to survey the key areas. Already crews have outlined areas that will require further follow-up to determine the source of the geophysical anomalies. The Company expects to receive a detailed litho-structural analysis of JMW which will help focus exploration.
(1) Readers are cautioned that the Company has no interest in or right to acquire any interest in the Joe Mann mine or Fenton Sud Property, and that mineral deposits and production results from the Joe Mann mine are not indicative of mineral deposits on the Company's properties or any potential exploitation thereof.
Exploration by previous operators included airborne and ground geophysical surveys, geological mapping and prospecting and diamond drilling. The majority of the past work was done in the 1980's in the vicinity of the Guercheville Deformation Zone in a package of felsic and mafic volcanic rocks, intruded by porphyritic rocks all with varying degrees of sulphide and quartz mineralization. Gold mineralization detected in the past has been associated with the mineralized porphyritic rocks and sericite schists (altered felsic volcanics) and diamond drilling in the 1980's included:
- 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 about 60 metres downhole near the south boundary of a felsic porphyry intrusion 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 and sericite schists to the south.
As well, many holes drilled to the north of the Guercheville Deformation Zone intersected anomalous gold mineralization.
More recently, work by other operators has focussed on areas 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 and disseminated pyrite as well as altered porphyritic rocks with quartz veining and pyrite mineralization.
Present work will focus on determining access to the property and the location of past work including, trenches, stripped areas, grab samples and drill hole locations. Three different models will be used to guide this work.
1) Previous drilling in the 1980's was relatively shallow and gold intersections have demonstrated good widths 9-12 metres with grades from 0.5 to 0.8 g/t gold. This could indicate that drilling intersected the peripheral margin of more significant grades. Deeper drilling will be a way to test this model.
2) Sampling by past explorers have indicated that the intrusive rocks to the north of most of the previous drilling returned gold in grab samples as high as 4 to 5 g/t gold. These areas will be investigated further with geophysics and sampling.
3) Exploration on strike with the JMW property by other companies has indicated that gold may also be associated with sedimentary rocks to the south of the Guercheville Deformation Zone. The JMW property has a thick sequence of these rocks that have seen little exploration in the past.
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 three properties in Quebec, JMW, RAL and New Mosher, 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 is 100% owned by Gitennes. RAL and New Mosher are under option and Gitennes can earn an initial 70% and has the right to increase its ownership 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.
Gitennes Exploration Inc.
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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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