Gitennes Successfully Completes Phase III Diamond Drill Programme at Snowbird High Grade Gold Project
Vancouver, B.C., – November 14, 2019 – Gitennes Exploration Inc. (“Gitennes” or the “Company”) – (TSXV – GIT) announces that it has completed the Phase III diamond drilling on its Snowbird High Grade Gold Project located near Fort St. James, British Columbia. The Company drilled ten holes totaling approximately 2,000 metres including a 400 metre hole (SB19-10), the deepest hole drilled to date on the Project.
Highlights of the Phase III Diamond Drill Programme:
- Quartz–carbonate veins which host gold mineralization at Snowbird intersected multiple times in all ten drill holes;
- 11.3 metre vein intersected in Hole SB19-04;
- Heavily veined intervals intersected in several holes;
- SB19-10 intersected intense veining over a length of 39 metres in drill core.
- Strong relationship between faulting, shearing and contacts observed with veining and zones of quartz-sericite and/or mariposite alteration with , calcite, pyrite and antimony;
- 400 metre hole completed (SB19-10) – deepest drilled to date at Snowbird. The hole encountered pyrite-arsenopyrite in association with quartz-carbonate veining at depths never sampled before;
- SB19-10 did not cross the ultramafic body into the mudstone leaving room for the possibility of expansion of gold mineralization along the contact at depth;
- 505 samples, including reference samples have been submitted for assaying. Results are pending and are expected by mid-December.
With the successful completion of the Phase III programme Gitennes has drilled 30 holes totaling approximately 4,820 metres in three programmes at Snowbird. The Phase III programme was Gitennes’ most focused programme with all of the holes drilled in the Main Zone but this is first time to Gitennes’ knowledge that holes were drilled at oblique and acute angles to the stratigraphy. The varied orientations tested the down dip extension of the Main Zone as mineralization appears to be steepening at depth, potential cross structures and high grade gold mineralization in historical adits and trenches.
Hole SB19-10, the deepest hole drilled to date at Snowbird, which ended at 400 metre core length, has provided some key observations. Firstly, the 39 metres of intense veining is the largest interval of quartz veining ever intersected on the Snowbird property and secondly, the ultramafic-mudstone contact was not crossed at depth. This latter observation is important as that contact hosts almost 85% of all anomalous gold values at Snowbird and SB19-10 confirms the mineralization steepens and is open at depth.
Based on Gitennes diamond drilling programmes, its ground geophysics and mapping coupled with historical drilling programmes and airborne geophysics the 25 to 150 metre wide silica-carbonate altered ultramafic unit has now been tested to a vertical depth of approximately 300 metres and is approximately 4.8 km long and open to the southeast. Within the altered ultramafic Gitennes has confirmed that the contact with mudstone is the main target for high grade gold mineralization.
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.
Gitennes Exploration Inc.
For further information, please contact: Ken Booth, 604-682-7970, Email: email@example.com
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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.