Gitennes Intersects 16.20 G/T Gold And 9.73 G/T Gold Over One Metre at the Snowbird High Grade Gold Project
Vancouver, December 13, 2017 - Gitennes Exploration Inc. ("Gitennes" or the "Company") announces drill results from its first phase, orientation diamond drilling programme on its Snowbird High Grade Gold Project. The programme, completed in November consisted of ten NQ2 sized diamond drill holes totalling 1,212 metres and is the first drilling completed at Snowbird in 28 years. Previous operators drilled 88 core holes totalling approximately 9,300 metres; however, Gitennes did not have the benefit of reviewing the core as it had been destroyed. The objective of the Company's Phase I orientation drill programme was to determine controls to high grade gold mineralization.
Key Takeaways from Phase I Drilling
-Multi-gram intervals were intersected in seven out of 10 holes, and include:
-Hole SB14-04 - 16.25 g/t gold over 1.0 metre
-Hole SB17-02 - 9.73 g/t gold over 1.0 metre
-Hole SB17-08 - 8.24 g/t gold over 0.52 metres
-Eight of the ten drill holes intersected gold grades greater than one gram/tonne (see table below);
-Highest grade gold intersected at relatively shallow depth, approximately 50 metres below the surface and remains open;
-High-grade gold intercepts occur within and adjacent to the 25 to 150 metre wide Mariposite Alteration Zone ("MAZ") in areas of high deformation (faulting/shearing) and are associated with key pathfinder elements arsenic and antimony;
-MAZ is the main target zone at Snowbird and is within the 4.8 kilometre long Sowchea Fault. Elevated gold, arsenic and antimony have historically been determined to occur at several locations over 2.3 kms of the Sowchea Fault. This target remains to be thoroughly drill tested;
-Approximately 20% of all drill core samples returned anomalous gold (>0.1 g/t);
-Drill core provides better understanding on controls on mineralization, focusses planning for second phase of drilling.
Selected Drill Intersections
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** Drill intersections are core length as there is insufficient data to present true widths.
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 12% QA/QC samples consisting of certified blanks, standards and field duplicates. Two certified ore assay laboratory standards and one blank standard were used in the process and were supplied by CDN Resource Laboratories Ltd., an independent laboratory located in Langley, British Columbia. 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
Gitennes is funded for Phase II of diamond drilling at Snowbird and has filed for permitting the next phase of work.
The Snowbird project is accessible year round via paved and dirt roads and sits at a relatively low elevation with moderate relief (not exceeding 190 metres). The ease of access to all parts of the property enables cost effective diamond drilling throughout the entire year.
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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