Gitennes Receives 22.5 g/t Gold Assay from Phase II Drilling and Plans Phase III Drilling Before Year End at its Snowbird High Grade Gold Project
Suite 1010 – 789 West Pender Street, B.C. V6C 1H2 Tel: 604-682-7970
email: [email protected] website: www.gitennes.com
Gitennes Receives 22.5 g/t Gold Assay from Phase II Drilling and Plans Phase
III Drilling Before Year End at its Snowbird High Grade Gold Project
Vancouver, B.C., - October 17, 2018 - Gitennes Exploration Inc. ("Gitennes" or the "Company")
- (TSXV – GIT) announces it is planning a third phase of diamond drill ing before the end of
2018 at its Snowbird High Grade Gold Project located near Fort St. James, British Columbia.
The Company also announces that as part of its normal assay procedures results greater than 15
g/t gold are re-run using a metallic screen. In Gitennes news release dated September 12, 2018
the Company reported 11.31 g/t gold over 1.32 metres including 15.85 g/t gold over 0.82 metres.
Using a metallic screen analysis the interval graded 22.5 g/t gold over 0.82 metres and over 1.32
metres the grade is 15.13 g/t gold.
Highlights of Planned Phase III Diamond Drilling
Planned to commence before year end
Project logistics = cost efficient drilling, Gitennes approximate all in cost of C$175/metre
Focus on Main Zone – will target down dip extension of zone
Drilling will be significantly deeper than all previous drilling
o Hole length will be approximately 400 metres
Minimum 1,600 metre programme
Main Zone Highlights
The Main Zone is the focus for the planned Phase III drilling. The zone has consistently
delivered high grade results either through historical adit and trench sampling; diamond drilling
in the early and late-1980’s or by Gitennes’ diamond drilling in 2017 (see tables below).
Table 1 – Historical Adit and Trench Sampling
Vein Area Total
Length (m)
# of Samples Wtd Ave Gold Grade
(g/t)
Grade Range (g/t)
Main Adit-East Wall 9.72 15 8.62 1.87-19.9
Adit-West Wall 8.36 14 691.61 4.67-4,602
Peg Leg Trench 49.54 66 10.53 1.31 – 45.44
(1) Readers are cautioned that a "qualified person" (as defined by National Instrument 43-101) has not yet completed sufficient work to be able to verify the historical
information, and therefore the information should not be relied upon.
Table 2 – Select Historical Drill Results and Gitennes Drill Results:
Hole Gold (g/t) Length (metres)
86-06 5,050 0.20
80-07 10.53 4.80
Including 30.34 1.22
86-02 10.97 2.97
80-06 9.57 2.40
including 23.93 0.93
86-07 24.50 1.00
SB17-04 9.10 2.02
including 16.20 1.00
(1) Except for hole SB17-04 readers are cautioned that a "qualified person" (as defined by National Instrument 43 -101) has not yet completed sufficient work to be
able to verify the historical information, and therefore the information should not be relied upon.
Based on Gitennes’ work and a review of historical information high-grade gold occurs within
and adjacent to the 25 to 150 metre wide silica -carbonate altered ultramafic unit in areas of high
deformation (faulting/shearing) and is associated with key pathfinder elements arsenic and
antimony. Gold in quartz veins is predominantly hosted in the footwall , both in the ultramafic
unit and in a thick mudstone unit in close proximity to the contact between the two units.
Gitennes work suggests that the down dip extension of the Main Zone mineralization may
steepen at depth . Phase III drilling will test this as all historical drilling has been to a vertical
depth of less than 150 metres . Gitennes’ phase III drilling will test the steepening of the Main
Zone mineralization at depth by drilling up to 400 metre holes.
The Snowbird Project’s logistics allows for drilling year -round and with a multi -year permit in
place Gitennes will be able to drill during the upcoming winter months. The logistics also allow
for cost efficient drilling which over the last two diamond dr illing programmes averaged
approximately C$175/metre all-in.
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.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by Justin Rensby (P.Geo.), technical adviser 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, expectation s 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", "beli eves", "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 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.