Gitennes Intersects 15.85 GT Gold Over 0.82 Metres in Previously Untested Area at Snowbird Gold Project
TSX VENTURE: GIT
Vancouver, British Columbia - September 12, 2018 - Gitennes Exploration Inc. ("Gitennes" or the "Company") announces drill results from its second phase of diamond drilling on its Snowbird High Grade Gold Project. The programme, completed in August consisted of ten NQ2 sized diamond drill holes totalling 1,612 metres. Phase II drilling has extended known high grade gold mineralization and confirms that diamond drilling of the Snowbird Project consistently returns high grade gold intersections.
Highlights from Phase II programme:
- Hole SB18-06 intersected 11.32 g/t gold over 1.32 metres including 15.85 g/t gold over 0.82 metres from 70.0 to 71.32 metres.
- Hole SB18-02 intersected 4.24 g/t gold over 0.7 metres from 114.8 115.5 metres and 4.53 g/t gold over 0.9 metres from 116 to 116.9 metres.
- Hole SB18-03 intersected 4.81 g/t gold over 0.5 metres from 30.4 to 30.9 metres.
- 9 of 10 holes intersected anomalous gold over intervals up to 4.5 metres wide (true width unknown) while 6 of 10 drill holes intersected gold grades greater than 1.0 g/t gold.
- Hole SB18-02 was collared in a "gap" between the North and Main Zones where previous exploration had not been carried. Gold intersections in the hole indicate continuity of gold mineralization between the two zones.
- Intense alteration including silicification, carbonatization and chloritization throughout the entire strings of drill core combined with intense shearing indicates a strong and robust system conducive to hosting lode gold-style mineralization.
- Hole SB18-04 intersected four separate intervals >1.0 g/t gold over a 20 metre interval. Combined with results from Hole SB18-03 this confirms and extends mineralization in historic drill holes 88-14, 89-04, and 89-17.
- High grade result in Hole SB18-06 extends known high grade mineralization 30 metres northwest from historic drill hole 89-15. Hole SB18-07 extends mineralization another 25 metres to the northwest.
Key Takeaways from Phase II Drilling
The objective of the Company's Phase II drill programme was to extend the high grade gold mineralization identified in the 1980's along strike. This was successful as the North and Main Zone were connected. The majority of drill holes were collared in the North Zone but from locations northwest of previous 1980's drill holes, thereby extending North Zone mineralization and high grade along strike and up dip. Snowbird remains open at depth and along strike.
Selected Drill Intersections
|Drill hole No.||From (m)||To (m)||Interval (m)||Gold (g/t)|
Quality Assurance/Quality Control (QA/QC)
Gitennes maintains a rigorous quality assurance/quality control program at the Snowbird Project. Selected core intervals were sawn in half and each sample half was placed in a marked sample bag with a corresponding sample tag, and then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in Smithers, British Columbia. Chain of custody of samples was recorded and maintained for all samples from the drill to the laboratory.
All diamond drilling sample batches included 12% QA/QC samples consisting of certified blanks, standards and field duplicates. Two certified ore assay laboratory standards and one blank standard were used in the process and were supplied by CDN Resource Laboratories Ltd., an independent laboratory located in Langley, British Columbia. Samples were submitted to ALS Global in North Vancouver, British Columbia, an ISO/IEC 17025:2005 and ISO 9001: 2015 certified lab. Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 75 microns. Gold was analyzed using a 30 gram fire assay/AAS and the 36 element analysis was done by ICP-AES/ICP-MS
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 has a multi-year permit for drilling from up to 40 sites with some of the sites designated for more than one diamond drill hole.
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 J. Rensby (P.Geo.), technical advisor 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
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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 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.