GITENNES’ SNOWBIRD HIGH GRADE GOLD PROJECT EXPLORATION UPDATE •Key Rock Unit Identified 1.8 kilometres along strike of High Grade Gold Zone •Structural mapping opens further potential of High Grade Gold Mineralization
Suite 1010 – 789 West Pender Street, B.C. V6C 1H2 Tel: 604-682-7970
email: [email protected] website: www.gitennes.com
GITENNES’ SNOWBIRD HIGH GRADE GOLD PROJECT EXPLORATION UPDATE
•Key Rock Unit Identified 1.8 kilometres along strike of High Grade Gold Zone
•Structural mapping opens further potential of High Grade Gold Mineralization
Vancouver, British Columbia – August 3, 2017 – Gitennes Exploration Inc. (“Gitennes” or the
“Company) provides an update on its first exploration programme on the Snowbird high grade gold
Project, located in north central BC. Mapping has already identified a key rock unit that hosts the high
grade gold mineralization at Snowbird and is associated with several multi-million ounce orogenic gold
deposits in western North America. Gitennes’ initial work supports its premise that the main structure at
Snowbird is at least five kilometres long with multiple areas of intense alteration that historically have
been identified to host high grade gold mineralization. The Company’s mineral claims cover the entire
length of the structure.
The focus of the first programme is to map and sample the Main Zone (previously referred to as the Main
and Pegleg zones), conduct a ground magnetometer geophysical survey (“MAG”) and to verify several
key mineralized areas identified in programmes by previous operators. The results of the first programme
will facilitate selection of diamond drill targets.
The Main Zone, known to host high grade gold mineralization identified thro ugh five diamond drill
programmes in the 1980’s has now been found to be contained within a unit identified as listwanite, an
intense quartz-carbonate alteration of ultramafic rocks which also contains mariposite. Mariposite is a
key alteration mineral and along with listwanite is associated with multi-million ounce gold deposits such
as the Mother Lode district in California and the Bralorne mine in BC. Mapping in this first programme
has recognized that the listwanite unit continues approximately 1.3 kilometres to the southeast and along
strike of the Main Zone. The Company’s mineral claims cover this area. An airborne geophysical survey
carried out in mid -1994 indicates that this zone is sub -parallel to the Main Zone. MAG surveys are
currently being carried out over the Main Zone to provide additional structural information.
Sampling has been completed over approximately 100 metres of the Main Zone and is being carried out
over the newly identified quartz-carbonate-mariposite zones. These samples have been submitted for
assaying. Grab samples collected in 2014 from the Main Zone returned values up to 47.7 g/t gold.
Mapping of the Main Zone has identified what appear to be key structural features. Preliminary
interpretation suggests that folding in the host veins at the Main Zone may explain why some of the
historical drill holes may not have intersected the high grade gold mineralization. These new structural
concepts will help orient diamond drilling and further enhances the potential to find additional high grade
gold mineralization at Snowbird.
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 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. Ac tual 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 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.