Gitennes to Drill Deepest Hole at Snowbird High Grade Gold Project as Part of Phase III Diamond Drill Programme
Vancouver, B.C., – October 31, 2019 – Gitennes Exploration Inc. (“Gitennes” or the “Company”) – (TSXV – GIT) announces that as part of its Phase III diamond drilling on its Snowbird High Grade Gold Project located near Fort St. James, British Columbia a 400 metre hole will be drilled at the Main Zone. The 400 metre hole will be the tenth hole drilled in the Phase III programme and will be the deepest hole drilled on the Snowbird Project by any operator. The average vertical depth from surface of the drilling at Snowbird to date has been approximately 75 metres and all drilling has been oriented in roughly the same direction. Hole 10 is designed to target the structure and mineralization approximately 300 metres vertically below surface and will be drilled below the Main Vein Adit that had the following historical sampling:
|Vein||Area||Total Length (m)||# of samples||Wtd ave Gold Grade (g/t)||Grade Range (g/t)|
|Main||Adit-East Wall||9.72||15||8.62||1.87 - 19.9|
|Adit-West Wall||8.36||14||691.61||4.67 - 4,602|
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.
In addition to the adit sampling, Hole 10 will be drilled below the following Main Zone holes:
|Hole||Gold (g/t)||Length (metres)|
Except for holes SB17-04 and SB18-06 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
Hole 10 will be drilled in an orientation that is 180 degrees to that of almost all previous drilling and at an inclination that will attempt to keep the hole within the altered ultramafic unit and test for gold mineralization in quartz veins which are predominantly hosted within 10 metres of the footwall contact between the overlying mudstone and the altered ultramafic. The hole could effectively extend the depth of the high grade mineralization at the Main Zone by up to 200 to 300 metres.
The Phase III drilling is progressing well and based on targets defined by Gitennes for the programme the drilling has been able to intersect quartz-carbonate veins in several of the holes at projected depths including an 8.5 metre interval in one hole. Drilling proximal to the historic Main Vein Adit has increased understanding of the geology and structural controls for mineralization at Snowbird. To date, Gitennes has shipped 314 drill core samples, along with check reference inserts to ALS Global in North Vancouver, BC for assaying.
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.
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.
Gitennes Exploration Inc.
For further information, please contact: Ken Booth, 604-682-7970, Email: firstname.lastname@example.org
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.