Gitennes Commences Diamond Drilling at its Snowbird High Grade Gold Project
Vancouver, B.C., – July 11, 2018 – Gitennes Exploration Inc. (“Gitennes” or the “Company”) – (TSXV – GIT) announces it has commenced diamond drilling of its Snowbird High Grade Gold Project located near Fort St. James, British Columbia. The current programme, the Company’s second phase of diamond drilling at Snowbird is a minimum of 1,500 metres and is part of a multi-year permit for drilling from up to 40 sites with some of the sites designated for more than one diamond drill hole.
The drill sites selected have the objective of extending the high grade gold mineralization identified in the 1980’s along strike as well as confirming continuity down dip of projected strike extent mineralization. The strike length of the known gold mineralization is approximately 2.3 km. The down dip extension has not yet been ascertained; however, it is known to be at least 250 metres based on previous operators drilling.
Drilling in this stage will be to relatively shallow depths, generally between 90 and 150 metres below surface. This will enable the Company to continue to maximize coverage while minimizing expenditures.
In Gitennes’ 2017 programme it was able to confirm the high grade gold intersections of previous operators with multi-gram “hits” in seven out of ten holes, such as:
- Hole SB17-04 – 20 g/t gold over 1.0 metre
- Hole SB17-02 – 73 g/t gold over 0.8 metres
- Hole SB17-08 – 24 g/t gold over 0.52 metres
High-grade gold occurs within and adjacent to the 25 to 150 metre wide silica-carbonate altered ultramafic unit in areas of high deformation (faulting/shearing) and is associated with key pathfinder elements arsenic and antimony. Gold in quartz veins is hosted in the footwall and in the hanging wall of the ultramafic unit in close proximity to a thick mudstone unit.
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing mineral deposits. 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
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.