Gitennes' reconnaissance rock sampling programme at Snowbird High Grade Gold Project focusses next phase of exploration
Main Vein decline accessed - historical sampling of 11.7 g/t gold*Vancouver, September 21, 2017 - Gitennes Exploration Inc. ("Gitennes" or the "Company") has completed geological mapping and rock sampling on the Snowbird High Grade Gold Project, located in north central BC. The project is accessible year round via paved and dirt roads and sits at a relatively low elevation with moderate relief (not exceeding 190 meters) allowing access to all parts of the property and enabling cost effective diamond drilling programmes at all time of the year. Subsequent to the first phase of exploration, a detailed high- resolution ground magnetometer survey is currently being expanded and a targeted soil geochemistry programme is being carried out over areas where gold-rich veins are projected to outcrop in the North Zone based on historical drilling.
The reconnaissance mapping and rock sampling programme was implemented to better define the controls on gold mineralization within the system. Grab sampling was carried out across all rock types in the Main and East Zones with the intent of identifying the host for gold mineralization. The programme was designed not to bias results by attempting to only replicate ultra-high grade gold from specific areas, specifically, the Main Vein or the Pegleg Vein where historically reported diamond drill results include:
20.02 g/t gold over 2.4 metres, 11.08g/t gold over 3.0 metres and 24.50 g/t gold over 1.0 metre*.
* Readers are cautioned that a "qualified person" (as defined by National Instrument 43-101) has not yet completed sufficient work to be able to verify the historical information, and therefore the information should not be relied upon.
The results of the sampling campaign confirmed that gold within the Main Zone is associated with stibnite (Sb2S3). The high gold-stibnite samples were taken from quartz veins in the northwest and central parts of the Main Zone. Five of seven samples running over 1.0 g/t gold had a strong association between gold and antimony. Antimony values within these samples exceeded the upper threshold detection limits at the analytical laboratory (10,000 ppm). Approximately 20% of the samples taken reported grades exceeding 0.1 g/t gold and greater than five percent of the samples had grades over 1.0 g/t gold with the highest assaying 4.0 g/t gold.
The Company was successful in gaining access to the Main Vein decline (see picture below) but given the condition of the workings only seven metres was investigated but no sampling was carried out due to the condition of the workings. Historical sampling from the walls of the Main Vein returned:
- Approximately 40 metres (dip length) with a weighted average grade of 11.73 g/t gold*.
* Readers are cautioned that a "qualified person" (as defined by National Instrument 43-101) has not yet completed sufficient work to be able to verify the historical information, and therefore the information should not be relied upon.
Detailed mapping at the Main Zone indicates that structural controls have played an important role in the distribution of gold. It illustrates why previous operators may not have intersected the vein in some drill holes while drilling in the same orientation and possibly assuming greater continuity of the mineralization. Gitennes' understanding of the structure provides an opportunity to intersect high grade gold mineralization in addition to what has been drilled in the past. While the Main Zone remains important to Gitennes, the North Zone may potentially show greater consistency in the strike and dip of the gold vein system. An expansion of the high resolution ground magnetometer survey and a targeted soil sampling programme over the North Zone will be used to augment the information required to focus the next phase of exploration in this area. Results from this phase of exploration will be released as the data becomes available.
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Main Vein, seven metres from the decline entrance.
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing mineral deposits. The Company currently has two gold exploration properties, Hixon and Snowbird, both in British Columbia and a 1% Net Smelter Returns royalty on the 18 million ounce Urumalqui Silver Project in Peru.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by D. Fraser (P.Geo.), technical advisor to the Company, 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.
"Ken Booth"
Ken Booth
President
For further information, please contact: Ken Booth
Phone: 604-682-7970 Email: info@gitennes.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 the TSX Venture Exchange), 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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