11-23-17 9:11 AM EST | Email Article

(TheNewswire)



- Listwanite a Key Rock Unit in similar High Grade Gold Deposits Intersected in All Holes

 

Vancouver , British Columbia / TheNewswire / November 23, 2017 – Gitennes Exploration Inc. (“Gitennes” or the “Company”) provides a further update from its first phase diamond drilling on its Snowbird High Grade Gold Project located in central BC. 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.

 

Gitennes’ first drill programme at Snowbird consisted of ten NQ2 sized diamond drill holes totalling 1,212 metres.  Subsequent to a detailed examination of the geological data collected during the program, it is evident that structural control plays a very important role for the emplacement of gold on the Property.  The largest and strongest veining and alteration zones noted in the core are found along lithological contacts and in fault and shear zones where ductile deformation was most intense. The broadest zone of veining was noted to occur over 24 metres with a veining density of approximately 15% including an interval of eight metres in which the vein density was 35%. Zones of silica-carbonate +/- mariposite, chrome-rich mica associated with the listwanite host rock reported in the historical drilling was sampled wherever intersected. Drill hole SB17-03 intersected massive stibnite over a width of eight centimetres at the margin of a two metre intersection of quartz-carbonate veining and mariposite.  Based on historical results, gold is known to occur in close association with both stibnite and listwanite at Snowbird.   Listwanite is associated with several multi-million ounce gold deposits in BC and the Motherlode District in California and historically, high grade gold results at Snowbird are directly associated with listwanite .  Gitennes intersected listwanite in all of the holes drilled in its first programme.

 

The Company will continue to assess all geological, geochemical and geophysical data collected during the 2017 exploration program.  Assays from 360 core samples for the recently completed 2017 drill program are pending.

 

Gitennes is currently in the process of permitting the Phase II of diamond drilling and trenching programme for 2018.

 

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 .

 

Gitennes Exploration Inc.

"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.

 

Copyright (c) 2017 TheNewswire - All rights reserved.

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