Gitennes Drill Programme Intersects Gold Mineralization over Significant Widths at New Mosher Property, Chapais-Chibougamau Area, Quebec
Vancouver, August 18, 2021 - Gitennes Exploration Inc. ("Gitennes" or the "Company") - (TSXV:GIT) announces that its first phase of diamond drilling on its New Mosher Gold Property has returned encouraging results with anomalous gold mineralization over significant widths (Figure 1, 1a, 1b, Table 1). Highlights of Diamond Drilling Programme
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- Gold intersected over significant widths (see table 1)
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- 22 metres in hole NM 21-02 grading 0.25 g/t gold
- 9.0 metres in hole NM 21-11 grading 0.71 g/t gold
- 5.0 metres in hole NM 21-08 grading 0.68 g/t gold
- Gold intersections are shallow;
- 10 of 19 holes intersected anomalous gold mineralization,
- All three areas tested intersected gold mineralization;
- Broad zones of gold mineralization correlate well with previously identified IP anomalies;
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- Associated with intense alteration with quartz-carbonate veining, pyrite, pyrrhotite, chalcopyrite and arsenopyrite.
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Table 1: Significant Gold Intersections in Diamond Drill Holes
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|Area |Drill |Width*(metres)|From |To |Gold(g/t)|
| |hole | |(metres)|(metres)| |
|-------------------------------------------------------------|
|New |NM 21-02|22 |24 |46 |0.25 |
|Mosher | | | | | |
|-------------------------------------------------------------|
| | | | | | |
|-------------------------------------------------------------|
|Meadow |NM 21-08|5 |16 |21 |0.68 |
|-------------------------------------------------------------|
| |NM 21-11|9 |66 |75 |0.71 |
|-------------------------------------------------------------|
| | | | | | |
|-------------------------------------------------------------|
|Northeast|NM 21-17|1 |38 |39 |0.26 |
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* True width not known at this time
Gitennes President Ken Booth commented: "The first phase drill programme was a success. The Company tested three zones with 3,044 metres of drilling and detected gold mineralization in all three areas. Wide, altered zones mineralized with sulphides and quartz veining intersected in the drilling combined with gold mineralization over significant widths in shallow holes and associated with IP chargeability anomalies, the gold potential of the Property remains very good".
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Figure 1: Diamond Drill Location Plan
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Figure 1a: New Mosher Area Drilling Detail
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Figure 1b: Meadow Area Drilling Detail
Gitennes drill results are encouraging and following a full analysis of the results combined with a comparison to historical drilling and geophysical surveys completed on the Property by Gitennes in 2021 the Company will look to conduct a second phase of diamond drilling.
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 four properties in the Chapais-Chibougamau area of Quebec: New Mosher, JMW, RAL, and Maxwell, and three properties in the Gaspe Region of Quebec: VG Boulder, Serpenphior and Puma, the Snowbird gold property in British Columbia and a 1.5% Net Smelter Return royalty on the 18 million ounce Urumalqui Silver Project in Peru. JMW, Maxwell, VG Boulder, Serpenphior and Puma are 100% owned by Gitennes. RAL and New Mosher are under option from Kintavar Exploration and Gitennes can earn an initial 70% and has the right to increase its ownership to 85%. The Snowbird Property has been optioned to a gold exploration company.
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Gitennes Chapais-Chibougamau Quebec properties
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Wayne Holmstead (P.Geo.), 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.
"Ken Booth"
Ken Booth
President
For further information, please contact: Ken Booth
Phone: 604-682-7970, Email: info@gitennes.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 any property Options 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.
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