04:40:32 EDT Tue 16 Apr 2024
Enter Symbol
or Name
USA
CA



Gitennes Exploration Inc (2)
Symbol GIT
Shares Issued 56,027,122
Close 2022-01-20 C$ 0.055
Market Cap C$ 3,081,492
Recent Sedar Documents

Gitennes begins phase 2 drill program at New Mosher

2022-01-21 09:20 ET - News Release

Mr. Ken Booth reports

GITENNES SECOND PHASE DIAMOND DRILL PROGRAMME COMMENCES AT NEW MOSHER GOLD PROPERTY, CHAPAIS-CHIBOUGAMAU AREA, QUEBEC

Gitennes Exploration Inc. has commenced the second phase of diamond drilling at its New Mosher gold property, Chapais-Chibougamau area of Quebec. Two holes have been completed and both holes successfully intersected the mineralized zone at the New Mosher showing. The New Mosher showing is the focus of the second phase of drilling which is planned for a minimum of 1,000 metres.

In the first phase of drilling the company encountered significant widths of anomalous gold (see highlights). In addition to Gitennes' encouraging results from the first diamond drill program the New Mosher showing has gold in historical drilling, 8.1 grams per tonne gold over 0.25 metre and 1.87 g/t gold over 5.1 metres and grab samples assaying 16 g/t gold and 5.66 g/t gold.

Highlights of first diamond drilling program

  • Gold intersected over significant widths:
    • 22 metres in hole NM 21-02 grading 0.25 g/t gold;
    • Nine metres in hole NM 21-11 grading 0.71 g/t gold;
    • Five metres in hole NM 21-08 grading 0.68 g/t gold;
  • Gold intersections are shallow;
  • 10 of 19 holes intersected anomalous gold mineralization;
  • All three areas tested intersected gold mineralization;
  • Broad zones of gold mineralization correlate well with previously identified induced polarization anomalies;
    • Associated with intense alteration with quartz-carbonate veining, pyrite, pyrrhotite, chalcopyrite and arsenopyrite.

The New Mosher property is located three kilometres from the past-producing Joe Mann mine which produced approximately 1.2 million ounces of gold at an average grade of 8.3 g/t gold (1.) plus silver and copper.

1. Readers are cautioned that the company has no interest in or right to acquire any interest in the Joe Mann mine 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 (Source: technical report on the Joe Mann mining property dated Jan. 11, 2016, prepared by Geologica Inc.).

The company also announces that it has appointed Brunet Roy Dube, chartered accountants of Montreal, Que., as its auditor. Brunet Roy is replacing PricewaterhouseCoopers LLP, chartered accountants.

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 the Chapais-Chibougamau area of Quebec: New Mosher, JMW and Maxwell, and three properties in the Gaspe region of Quebec: VG Boulder, Serpenphior and Puma, the Snowbird gold property in British Columbia and a 1.5-per-cent net smelter return royalty on the 18 million ounce Urumalqui silver project in Peru. JMW, Maxwell, VG Boulder, Serpenphior and Puma are 100-per-cent-owned by Gitennes. New Mosher is under option from Kintavar Exploration and Gitennes can earn an initial 70 per cent and has the right to increase its ownership to 85 per cent. The Snowbird property has been optioned to a gold exploration company.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Wayne Holmstead, PGeo, who is a qualified person within the meaning of National Instrument 43-101.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.