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Gitennes Exploration Inc (2)
Symbol GIT
Shares Issued 56,177,122
Close 2023-05-15 C$ 0.02
Market Cap C$ 1,123,542
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Gitennes drills 0.7 m of 7.23 g/t Au at JMW

2023-05-15 16:45 ET - News Release

Mr. Ken Booth reports

GITENNES' JMW GOLD PROPERTY DIAMOND DRILLING RESULTS, CHAPAIS-CHIBOUGAMAU AREA, QUEBEC

Gitennes Exploration Inc. has released results from the diamond drilling program completed on its 100-per-cent-owned JMW gold property in the Chapais-Chibougamau area of Quebec.

The diamond drilling program totalled 984 metres in five holes. Four holes were drilled into sedimentary rocks and targeted induced polarization (IP) geophysical anomalies. One hole was drilled across the northern contact between the intrusives and volcanics.

The sedimentary rocks and intrusive contacts are known to host gold deposits and occurrences in the Chapais-Chibougamau area.

Of the four drill holes that were targeting strong IP anomalies, all four intersected at least one of the following: ductile shearing, graphitic cataclastic faulting, stringer to semi-massive sulphide (pyrrhotite plus or minus pyrite) and/or magnetite-bearing sheared iron formation. Furthermore, graphitic lithologies and sheared/faulted equivalents often displayed increased disseminated sulphide. This suggests that the IP survey was successful at identifying these features, which are known to be associated with gold mineralizing systems in sedimentary rocks in the Chapais-Chibougamau area.

Gold assays mainly showed less than 0.50 gram per tonne over two to 20 metres, particularly in holes 22JMW-02 and 22JMW-05. These low-grade intervals were associated with deformed volcanogenic intervals with known sulphides (pyrite and pyrrhotite) occurrences.

Hole 22JMW-03 had an interval of 7.23 g/t gold over 0.7 metre (114 m to 114.7 m) characterized by notable quartz-carbonate veining and intense structural deformation and sericite alteration along the hangingwall of the mineralized interval.

The company also announces that the optionee on both the JMW and Maxwell properties will not be continuing with the options and has returned the properties to Gitennes.

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. All properties are 100 per cent owned by Gitennes except for New Mosher, which is under option, 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 technical content in this release has been reviewed and approved by Mitchell E. Lavery, PGeo, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

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