Gitennes Adds Prospective Gold and Copper Properties in Gaspe Region of Quebec
Suite 410 –325 Howe Street, B.C. V6C 1Z7 Tel: 604-682-7970
email: [email protected] website: www.gitennes.com
Gitennes Adds Prospective Gold and Copper Properties in Gaspe Region of Quebec
Vancouver, B.C., - August 4, 2021: Gitennes Exploration Inc. ("Gitennes" or the "Company") -
(TSXV – GIT) announces it has acquired 100% interest in two gold properties and one copper
property in the Gaspe Region of Quebec (Figure 1). The two gold properties cover geology and
structure that is similar to recent gold discoveries in Newfoundland. In addition, one of the
properties (VG Boulder Property) has historically reported gold in outcrop plus angular boulders
with visible gold. The gold mineralization in the region is traditionally hosted by splay faults from
a major regional structure called the Grand Pabos Fault. This major fault zone can be traced
across the entire Gaspe Peninsula and into Newfoundland where major gold discoveries have
been made.
Figure 1: Location Map – Gitennes Gaspe Properties
Property Highlights
VG Boulder Property (1,250 hectares)
Favourable geology along major structure and splays
Historical gold (22.4 g/t) and antimony (15.4%) in outcrop
Gold in large, angular boulders (58 g/t) with reported visible gold
Figure 2: VG Boulder Property Highlights
Serpenphior Property (228 hectares)
Historical drill hole 95-03 with 10 intersections of 0.16 to 3.9 g/t gold over of 0.3 to 3.0
metres;
Copper intersection of 0.45% over 6.5 metres; and
Surface sample of 0.21 g/t gold over 10.5 metres.
Figure 3: Serpenphior Property Highlights
Puma Property (114 hectares)
Puma Showing: 11 grab samples assayed 2.9 to 9.95% copper and 6 to 35 g/t silver;
Caroline Showing: located about 85 metres west of the Puma Showing, six grab
samples assayed 1.5 to 11.4% copper and 2.1 to 105 g/t silver.
Figure 4: Puma Property Highlights
Regional Context and Discussion
Recent research has revealed that gold mineralization is related to the Ordovician to Silurian-
aged closing of the Iapetus Ocean. This ancient suture in the earth’s crust extends from North
America, through the Gaspe Peninsula, Newfoundland, across the Atlantic Ocean to Ireland
(Figure 5). Major gold deposits are associated with this event in Newfoundland and Ireland and
structure is found to be a key aspect of these deposits and the critical control of gold
mineralization including gold mineralization in the Gaspe Region of Quebec.
Figure 5: Global Significance of Closing of the Iapetus Ocean and Relation to Gold Deposits
including mineralization on Gitennes Properties labelled Gaspe Gold.
Gitennes will issue to the vendor of the three properties 250,000 common shares of the
Company with the issuance of the shares subject to TSX Venture approval.
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing mineral properties with a focus on
high grade or large tonnage gold deposits. The Company currently has three properties in
Quebec, JMW, RAL and New Mosher, 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
is 100% owned by Gitennes. RAL and New Mosher are under option and Gitennes can earn an
initial 70% and has the right to increase its ownership to 85%.
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.
Gitennes Exploration Inc.
“Ken Booth”
Ken Booth
President
For further information, please contact: Ken Booth
Phone: 604-682-7970
Email: [email protected]
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.
Not for distribution to United States newswire services or for release, publication, distribution or dissemination
directly, or indirectly, in whole or in part, in or into the United States.
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 New Mosher, RAL and Snowbird Projects 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.