Gitennes' Maxwell Gold Property Geophysical Survey Completed, Chapais-Chibougamau Area, Quebec

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$432/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

(TheNewswire)

Gitennes Exploration Inc.
 

Vancouver, BC - TheNewswire - December 20, 2022 - Gitennes Exploration Inc. ("Gitennes" or the "Company") – (TSXV:GIT) announces that the previously announced 1,000 line kilometre airborneTriaxial Gradient Magnetometer (“MAG”) survey has been completed on its 100% owned Maxwell gold property (“Maxwell”) in the Chapais-Chibougamau area of Quebec (see location map below).  The MAG survey was successful in covering the entire 9,400-hectare property.  Results from the MAG survey are being compiled and upon final interpretation will be released.    

 

Maxwell is situated between two of Iamgold Corporation’s properties with the Monster Lake high grade gold property six km to the east (see Figure 1).  Maxwell has several occurrences of gold in both the fine and heavy fraction of glacial tills and the gold in tills is associated with mapped structures.  The structures are northeast trending, similar to Iamgold’s Nelligan property.  Maxwell has seen very little exploration and several EM geophysical anomalies remain untested.

  


Click Image To View Full Size

 

Figure 1 – Maxwell Property

 

Gitennes has optioned Maxwell and its JMW property to Newfoundland Discovery Corp. and Newfoundland Discovery can initially earn a 70% interest in each property with the right to earn an additional 15% interest. Newfoundland Discovery is planning to spend approximately $800,000 between the two properties with diamond drilling at JMW anticipated to commence shortly.


Click Image To View Full Size

 

Maxwell Property and Gitennes’ other properties in the Chapais-Chibougamau area

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 the Chapais-Chibougamau area of Quebec: New Mosher, JMW and Maxwell, and three properties in the Gaspe Region of Quebec: VG Boulder, Serpenphior and Puma, 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.  All properties are 100% owned by Gitennes except for New Mosher which is under option from Kintavar Exploration and Gitennes can earn an initial 70% and has the right to increase its ownership to 85%.  The JMW, Maxwell and Snowbird Properties have been optioned to gold exploration companies.

 

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.

 

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

  

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 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 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.

  

Copyright (c) 2022 TheNewswire - All rights reserved.