Gitennes to Commence Exploration on Three Quebec Gold Properties
Suite 410 –325 Howe Street, B.C. V6C 1Z7 Tel: 604-682-7970
email: [email protected] website: www.gitennes.com
Gitennes to Commence Exploration on Three Quebec Gold Properties
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.
Vancouver, B.C., - October 14, 2020: Gitennes Exploration Inc. ("Gitennes" or the "Company") -
(TSXV – GIT) announces that exploration on its three Quebec gold properties will commence in
the latter half of October. The properties, JMW, Rivière-à-l’Aigle ("RAL") and New Mosher are
all in areas of active exploration (see location map below).
JMW
Gitennes owns 100% of JMW which is located along the Guercheville Deformation Zone which
is host to several high grade prospects as well as the past producing Joe Mann mine. The mine
operated 27 of the years from 1956 to 2007 and produced approximately 1. 5 million ounces of
gold at an average grade of 8.3 g/t gold (1). In addition, the Fenton-Sud Prospect which has a
historically reported 426,173 tonnes at a grade of 4.66 g/t gold(1) is located about 12 km
northwest of the JMW property on the same trend. Previous work on the JMW property has
confirmed the gold bearing structure with gold mineralization within altered and mineralized
felsic intrusives within the deformation zone. Gitennes initial exploration programme will consist
of mapping, sampling and follow up on several geophysical anomalies. The Company is also
conducting a detailed structural analysis of JMW as it appears the favourable gold bearing
lithologies are repeated across the property.
Readers are cautioned that the Company has no interes t in or right to acquire any interest in the Joe Mann mine or Fenton Sud
Property, and that mineral deposits and production results from the Joe Mann mine are not indicative of mineral deposits on the
Company's properties or any potential exploitation thereof.
RAL and New Mosher
RAL and New Mosher are under option from Kintavar Exploration and Kintavar will be the
operator of the upcoming work programmes on both properties. Kintavar will bring to Gitennes
its experience and knowledge of the Quebec geology, infrastructure and logistics on the ground.
The team is led by Kintavar’s VP Exploration Alain Cayer, P.Geo, recipient of the Bill Denis
Prospector of the Year Award for the Eleonore mine discovery with Virginia Gold Mines and also
discovered the Anik property along the Guercheville deformation zone, now being advanced in
partnership by IAMGOLD and on the same trend as the JMW property.
RAL is located adjacent to Osisko Mining Inc.’s Windfall Lake property and consists of 119
claims totalling 6,600 hectares. Work to date on RAL has produced strong geochemical
anomalies in tills that appear to be associated with major faults and shear zone axes. Initial
work will focus on the three most promising targets that were identified by Kintavar during its
most recent work which included till sampling and returned grades up to 3.6 g/t gold (range from
0.1 g/t gold to 3.6 g/t gold). Work will include soil sampling and line cutting with a proposed
Induced Polarization geophysical survey to be conducted later in the year.
The New Mosher property is approximately five kilometres north east of the Joe Mann mine and
consists of 12 claims totaling 670 hectares. Mineralization on New Mosher is within a sheared
gabbro and basalt with mesothermal type gold -bearing qu artz veins and historically reported
sampling revealed grab samples up to 16.7 g/t gold in outcrop and 8.1 g/t gold over 0.25m, 3.03
g/t gold over 1.4m and 2.43 g/t gold over 1.6m in diamond drilling (1). Recent sampling by
Kintavar has identified several anomalous areas; however, much of the property remains
untested.
(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.
The Company also announces that Wayne Holmstead, P.Geo will be joining the Company to act
as Manager of Exploration. Wayne is a graduate from the University of Toronto with a B.Sc. in
Geology and has over 40 years’ experience in mineral exploration and project administration
with much of that experience in Quebec. He has managed numerous junior exploration
companies and held the position of President, Vice President Exploration and Director. In 2018
Wayne co -founded UrbanGold Minerals and researched and staked many of the properties
currently in UrbanGold.
Gitennes is also granting 1,8 75,000 incentive stock options to directors, officers and consultants.
Each option is exercisable at $0. 165 per share and has a term of five years. This grant of options
remains subject to acceptance by the TSX Venture Exchange.
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 three properties in Quebec, JMW, RAL and New
Mosher, the Snowbird property in British Columbia and a 1.5% Net Smelter Return 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 Wayne Holmstead (P.Geo.), who is a "qualified person" within the meaning of
National Instrument 43-101.
For further information on the Company, readers ar e 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) acce pts 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 statement s 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 identifi ed 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 Compa ny, 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 expl oration
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 wi th 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 oth er 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 inten tions 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.