Gitennes Adds Strategic Claims to Cover Gold in Tills and Structures at Maxwell Property, Chapais-Chibougamau Area, Quebec
Vancouver, B.C. – TheNewswire – April 8, 2021: Gitennes Exploration Inc. (« Gitennes » or the « Company ») – (TSXV:GIT) announces that it has staked an additional 50 claims totaling 2,740 hectares adjoining its 100% owned Maxwell Property bringing the property total to 9,430 hectares. The new claims (shown in yellow, Figure 1) are on the southwestern boundary of the Maxwell Property and cover three samples with 0.014, 0.028 and 0.041 g/t gold in fine fraction tills associated with northeast trending, fault structures. The anomalous till samples cover approximately five kilometres of strike length. Additionally, Iamgold Corporation has recently staked claims close to the northwestern boundary of the Maxwell Property. The Gitennes Maxwell Property is now situated between two of Iamgold’s properties with the Monster Lake high grade gold property six km to the east (see Figure 1)
Maxwell Property Highlights
- – Anomalous gold in fine fraction till, up to 820 ppb (0.82 g/t);
– Anomalous gold in heavy fraction till, up to 340 ppb (0.34 g/t);
– Gold in tills associated with mapped structures;
– Structures are northeast trending and parallel structures at Iamgold’s Monster Lake gold property;
– Geology is very favourable
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- – Volcanic environment with massive sulphide horizons intersected in drilling;
– Previously mapped as intrusive;
– Channel samples by previous operators returned:
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- – 2.0% copper over 0.5 metres and 1.2% copper over 0.15 metres;
– Very little previous exploration:
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- – Several untested EM (Electromagnetic) anomalies
– 100% ownership, no royalties;
– Infrastructure is good – road accessible, powerline crosses the property
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 four properties in Quebec, JMW, Maxwell 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 and Maxwell are 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
Phone: 604-682-7970
Email: info@gitennes.com
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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. 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.