GITENNES PROGRESSES EXPLORATION ON ITS SNOWBIRD HIGH GRADE GOLD PROJECT •Stacked quartz and quartz-carbonate veins mapped at Main Zone •Ground geophysics confirms magnetic low coincident with key alteration
Suite 1010 – 789 West Pender Street, B.C. V6C 1H2 Tel: 604-682-7970
email: [email protected] website: www.gitennes.com
GITENNES PROGRESSES EXPLORATION ON ITS SNOWBIRD HIGH GRADE
GOLD PROJECT
•Stacked quartz and quartz-carbonate veins mapped at Main Zone
•Ground geophysics confirms magnetic low coincident with key alteration
Vancouver, British Columbia – August 24, 2017 – Gitennes Exploration Inc. (“Gitennes” or the
“Company) progresses the exploration on its Snowbird high grade gold Project, located in north central
BC. The Company continued mapping areas that host and have the potential to host high grade gold
mineralization and carried out the first phase of a ground magnetometer survey (“MAG”) as well as soil
sampling. All rock and soil samples have been submitted for assaying.
In the Main Zone, known to host high grade gold mineralization identified through five diamond drill
programmes in the 1980’s, mapping has recognized a system comprising stacked quartz and quartz-
carbonate veins. This observation increases the potential for additional sources of high grade gold
mineralization. The Company has collected 111 rock samples which have been submitted for analysis.
Further review of historic diamond drill core data indicated several intersections of gold occurs in
graphitic argillites proximal to intensely carbonatized and silicified ultramafics, also referred to as
listwanite which is common in several orogenic high grade gold deposits. This provides an exploration
tool that can be used to trace additional mineralization adjacent to the Main Zone or elsewhere on the
Snowbird Property.
The preliminary MAG survey consisted of approximately 11 line kilometres and is following up on a
1994 airborne magnetometer survey. The survey is providing better definition than the airborne survey
and has highlighted north-south structures that cross the main mineralized structure and offer a target for
future drilling as much of the historical drilling was done parallel to these cross structures. The MAG has
also confirmed a magnetic low coincident with the MAZ; most likely a result of the reaction of carbonate
rich mineralizing fluids invading serpentinized ultramafics leading to destruction of magnetite. This
feature is common in other Cordilleran lode gold deposits such as the Atlin gold camp in northern British
Columbia.
Soil sampling was conducted along approximately two line kilometres and 75 samples were collected
south of the Main Zone. The soil sampling and the MAG are being used to assist in prioritizing magnetic
lows identified through the historical airborne magnetometer survey.
The next phase of the exploration at Snowbird will consist of a more detailed and extensive MAG survey
over approximately 23 line kilometres beginning in late August and detailed structural mapping of the
Main Zone.
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 L. Mireku, MSc (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: [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.
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 forwa rd-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 for th 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.