Tickers: XTSX:GIT, PINX:GILXF
Vancouver, B.C. - TheNewswire - December 12, 2019 - Gitennes Exploration Inc. ("Gitennes" or the "Company") (TSXV:GIT) (OTC:GILXF) announces that it has received results from is recently completed 2,000 metre Phase III diamond drilling on its Snowbird High Grade Gold Project located near Fort St. James, British Columbia. The Company continues to intersect high grade gold and with the drilling of the deepest hole yet on the Project Gitennes has extended gold mineralization approximately 100 metres vertically below any previous gold intersections.
Highlights from Phase III Drilling
- 19.3 g/t gold and 33.5 g/t silver over 0.6 metres in hole SB19-06
- 18.3 g/t gold over 0.5 metres in hole SB19-06
- 9.7 g/t gold over 1.2 metres in hole SB19-07
- Including 12.95 g/t gold over 0.7 metres
The high grade gold intersected in drill holes SB19-06 and SB19-07 is associated with bands of locally massive antimony. The intersections were in proximity to the historic "Main Vein" adit. Generally, there is a strong correlation between gold grades and arsenic with many of the samples assaying approximately 0.1% arsenic. In the 400 metre deep SB19-10 drill hole the Company intersected 1.53 g/t gold and 0.17% arsenic over 0.92 metres at a depth of 239 metres indicating the potential for high grade gold mineralization deeper in the structure. Importantly, the hole did not cross the ultramafic-mudstone contact at a vertical depth of 350 metres. This indicates that the potential for continued quartz-vein hosted gold mineralization is maintained as quartz veining is consistently in close proximity to the footwall contact of the ultramafic and hanging wall of the mudstone units. While high grade gold was not intersected in all holes, seven of ten holes intersected gold grades in excess of 1.0 g/t.
Selected Drill Intersections
With the completion of the Phase III programme Gitennes has drilled 30 holes totaling approximately 4,820 metres. The Phase III drilling programme has again confirmed the presence of high grade gold at Snowbird but it also has indicated that any future drilling will require that a substantial component of the programme be holes at least 400 metres in length. These deep holes will focus on testing the interface between the ultramafic and mudstone units where Gitennes has consistently intersected its highest grades.
Quality Assurance/Quality Control (QA/QC)
Gitennes maintains a rigorous quality assurance/quality control program at the Snowbird Project. Selected core intervals were sawn in half and each sample half was placed in a marked sample bag with a corresponding sample tag, and then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in Smithers, British Columbia. Chain of custody of samples was recorded and maintained for all samples from the drill to the laboratory.
All diamond drilling sample batches included 17% QA/QC samples consisting of certified blanks, standards and field duplicates. Four certified ore assay laboratory standards and one blank standard were used in the process and were supplied by CDN Resource Laboratories Ltd. of North Vancouver, B.C and ORE Research and Exploration Pty Ltd. (through Analytical Solutions of Toronto, Ontario). Samples were submitted to ALS Global in North Vancouver, British Columbia, an ISO/IEC 17025:2005 and ISO 9001: 2015 certified lab. Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 75 microns. Gold was analyzed using a 30 gram fire assay/AAS and the 36 element analysis was done by ICP-AES/ICP-MS. Over limit gold results were re-analyzed by total metallic screening followed by AAS.
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 two high grade gold exploration properties, Snowbird and Maroon, both in British Columbia and a 1% Net Smelter Returns royalty on the 18 million ounce Urumalqui Silver Project in Peru.
The scientific and technical information contained in this news release has been reviewed and approved by Justin Rensby (P.Geo.), technical adviser to the Company who is a "qualified person" within the meaning of National Instrument 43-101.
Gitennes Exploration Inc.
For further information, please contact: Ken Booth, 604-682-7970, Email: email@example.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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 the Option to acquire the Snowbird Project 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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