Gitennes Exploration Inc. Receives Multi-year Permit to Drill Snowbird High Grade Gold Project
Vancouver, April 24, 2018 - Gitennes Exploration Inc. ("Gitennes" or the "Company") - (TSXV - GIT) announces that it has received a multi-year drilling permit for its high grade Snowbird gold project, located near Fort St. James, British Columbia. The Company has permitted 65 sites with several sites designated for more than one diamond drill hole. The sites that have been selected for drilling will cover all of the gold bearing zones at Snowbird as well as some of the prospective zones identified in the course of the 2017 programme. Gitennes drilling programmes are testing a large strike extent, up to 2.3 km, that shows historic multi-gram gold intersections and is open along strike. With the permit now in hand the Company plans to commence drilling in June and has planned a Phase II programme of up to 2,000 metres to follow up on the positive results from the drilling programme in late-2017.
In November 2017 Gitennes completed 1,212 metres in ten holes at Snowbird with drilling in both the North and Main Zones. Highlights from the Phase 1 drilling (Gitennes news release December 13, 2017) are:
-Multi-gram intervals were intersected in seven out of 10 holes, and include:
-Hole SB17-04 - 16.20 g/t gold over 1.0 metre
-Hole SB17-02 - 9.73 g/t gold over 0.8 metres
-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;
-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 silica-carbonate altered ultramafic unit in areas of high deformation (faulting/shearing) and are associated with key pathfinder elements arsenic and antimony;
-Gold in quartz veins is hosted in the footwall and hanging wall of the ultramafic unit in close proximity to a thick mudstone unit. This association is contained 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 kilometres 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);
In the North Zone where the Phase II programme will commence, historical diamond drilling results include:
-Hole 88-13 -16.26 g/t gold over 4.0 m, incl. 48.4 g/t gold over 1.0 m
-Hole 89-02 -11.89 g/t gold over 1.8 m , incl. 28.1 g/t gold over 0.6 m
-Hole 89-10 -9.63 g/t gold over 2.1 m, incl. 13.75 g/t gold over 1.1 m
-Hole 89-11 -7.66 g/t gold over 1.7 m, incl. 17.76 g/t gold over 0.6 m
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.
About the Snowbird Gold Project
The Snowbird high grade gold project was optioned by Gitennes in February 2017. In 2017 Gitennes completed a high resolution ground magnetometer survey, detailed mapping of the Main Zone and completed 1,212 metres of diamond drilling. The Project covers approximately 3,100 hectares and is located 20 kilometres west of Fort St. James, British Columbia. Fort St. James is a full service community providing infrastructure and skilled manpower. The Project is orogenic in style and has been recognized as being similar to other lode gold systems that are associated with terrane boundary structures and ophiolite complexes within the Cordillera. Several well-known examples of significant past producers include the Motherlode District and Quartz Hill in California and in British Columbia, Rossland, Bralorne and Barkerville.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 mineral deposits. Gitennes acquires properties directly by staking, through option agreements with prospectors or other exploration companies, and through reconnaissance programmes.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Dean Fraser (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.
On behalf of the Board of Directors of
"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 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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