Gitennes Samples up to 75.7 g/t Gold and identifies visible gold on its VG Boulder Property, Gaspe Region of Quebec
Vancouver, B.C. – TheNewswire – February 10, 2022: Gitennes Exploration Inc. ("Gitennes" or the "Company") – (TSXV:GIT) announces that sampling…
Vancouver, B.C. – TheNewswire – February 10, 2022: Gitennes Exploration Inc. (“Gitennes” or the “Company”) – (TSXV:GIT) announces that sampling on its 100% owned VG Boulder Property during a reconnaissance programme in late 2021 returned values up 75.7 g/t gold. Anomalous analyses were obtained from 10 of 13 samples with values ranging from 0.186 to 75.7 g/t gold, including 8.54, 3.83 and 1.55 g/t gold. The samples were taken from angular rubble in a creek bed over a length of 165 metres and the high grade samples appear to be sub-crop or close to being in-situ (Figure 3). In addition, three samples taken from an outcrop about 3.6 km northeast of the high grade sample analyzed 1.54, 0.952 and 0.387 g/t gold (Figure 3).
The VG Boulder property has seen little past work and the showings are undrilled. Gitennes plans to return to VG Boulder as soon as weather permits in the spring for a mapping and prospecting campaign.
Gitennes finds visible gold in boulders in two locations on the Property; Analyses as high as 75.7 g/t gold (Figures 1 and 2);
Historical gold showing located (22.4 g/t) and antimony (15.4%) in outcrop 3.6 km northeast of Boulder Showing, new showing in outcrop identified. (Figure 3);
Geology is comparable to that of Gander, Newfoundland where significant gold mineralization has been identified.(Figure 4);
5,787 hectare property covers favourable geology and key regional structures.
Figure 1: Brecciated sediment with quartz flooding and visible gold (enlargement in Figure 2)
Figure 2: Close-up of quartz with visible gold mineralization from Figure 1
Figure 3: VG Boulder Property (black outline) with Gitennes Sampling (yellow boxes) and Historical Highlights
The VG Boulder Property is located in the Gaspe Region of Quebec (Figure 5) and covers geology and structure that is similar to recent gold discoveries in Newfoundland. The gold mineralization in the region is traditionally hosted by structures related to the Grand Pabos Fault, a major regional structure that can be traced across the entire Gaspe Peninsula and into Newfoundland where major gold discoveries have been made recently (Figure 4).
Regional Context and Discussion
Recent research has revealed that gold mineralization is related to the Ordovician to Silurian-aged closing of the Iapetus Ocean. This ancient suture in the earth’s crust extends from North America, through the Gaspe Peninsula, Newfoundland, across the Atlantic Ocean to Ireland (Figure 4). Major gold deposits are associated with this event in Newfoundland and Ireland and structure is found to be a key aspect of these deposits and the critical control of gold mineralization including gold mineralization in the Gaspe Region of Quebec
Figure 4: Global Significance of Closing of the Iapetus Ocean and Relation to Gold Deposits including mineralization on Gitennes Properties labelled Gaspe Gold.
Figure 5: Location Map – Gitennes Gaspe Properties
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing mineral properties with a focus on high grade or large tonnage gold deposits. The Company currently has five gold properties in Quebec, JMW, New Mosher, Maxwell, VG Boulder and Serpenphior, 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. Gitennes owns 100% of its Quebec gold properties except for New Mosher which is under option for Gitennes to earn an initial 70% with 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.
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.
For further information, please contact: Ken Booth
Email: [email protected]
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.
Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
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 New Mosher, RAL and Snowbird Projects 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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