VanEck Vectors Global Alternative Energy ETF

Published : April 01st, 2008

NEW RESULTS POINT TO ADDITIONAL DRILLING

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Keywords :   Australia | Canada | Copper | Gold | K Street | Lead | Silver | Zinc |

GITENNES TOTOROKO PROPERTY � NEW RESULTS POINT TO ADDITIONAL DRILLING

 

Vancouver, April 1, 2008: Gitennes Exploration Inc. (TSX-GIT) is pleased to advise that a detailed report on its 100%-owned TotoRoko Property has been filed on SEDAR. The report, title �TECHNICAL REPORT on the TOTOROKO PROJECT, Department of Arequipa, Per�� was authored by Alvaro Fern�ndez-Baca, P.Geo. and James R. Foster, P.Geo., two experienced geologists in the employ of Gitennes.

 

Included within the report are the results of a multi-element Mobile Metal Ion (�MMI�) survey completed over the area of the Canta�a structure and the �Northern IP Anomaly�. In December 2007 Gitennes drilled one core hole on the Canta�a structure, aimed to test some high-grade silver and gold results obtained from surface rock-chip sampling. The hole encountered a wider-than-expected zone of argillic-altered, strongly oxidised breccia that began at a down-hole depth of 28.50 metres. The main Canta�a quartz structure was hit at a depth of 48.55 metres and continued, with varying degrees of fracturing and brecciation, down to 99 metres (50.45 metres of core length, or 35.7 metres true width). This deeper quartz-rich structure is accompanied by moderate sericite alteration and locally heavy pyrite with minor local chalcopyrite and other unidentified fine-grained metallic minerals. The Canta�a structure contains evidence of multiple brecciation events evidenced by cemented brecciated quartz clasts, such that it must have been the focus of several hydrothermal pulses or repeated fault movements, or both.

 

Despite the attractive-looking core, the rocks returned low grades with the highest assay results coming from a 1.45-metre sample of vein material, with 0.75 g/t Au and 8.9 g/t Ag. Pyrite and galena occur as minor minerals in this interval. All other samples taken from the vein and from the fault zone yielded less than 60 ppb gold and less than 4.9 g/t silver. Copper numbers of up to 0.2 % copper are coincident with traces of fine-grained sulphide minerals, as is zinc (up to 0.26% Zn) and lead (up to 0.19% Pb).

 

The Canta�a hole did not test the Northern IP anomaly. Due to the poor development of soils in the area, the presence of transported colluvium, and the dry desert-like conditions that characterize the climate for most of the year, MMI was thought to be a more effective soil geochemical technique than conventional soil sampling. MMI is a technique pioneered in Australia that targets metals that are weakly bonded onto the outer surfaces of soil, gravel and sand. The �soil samples� are not sieved and analysed by conventional destructive processes, instead weak reagents are used to take these surface ions into solution, which can then be analysed ..

 

A total of 182 MMI samples were collected by Gitennes geologists in January 2008 along eight survey lines oblique to stratigraphy but crossing the Canta�a structure.  The aim of the survey was to identify possible deep-sourced geochemical anomalies over the northern IP anomaly that may not have been picked up by conventional soil geochemistry methods. A test line parallel to the Lomas Orcco zone was completed in order to see the strength of an MMI response associated to mineralization in this area (TR07-07 which intersected 0.75% copper over a core length of 29.65 metres, including 5.35 metres at 3.90% copper).

 

Results show very strongly anomalous copper (up to 28,400 ppb), silver (up to 2,120 ppb), gold (up to 56.3 ppb) and lead (up to 37,100 ppb) values associated to the Canta�a structure and to another north-south trending structure to the east, with copper responses similar to those obtained on the Lomas Orcco test line. Sampling of outcrops in this area revealed no significant copper values, and only minor copper was encountered in drill hole TR07-01. It is possible that the MMI method may be outlining a deep copper target. The eastern MMI copper anomaly is unexplained and is not associated to any surface copper mineralization, but is centered upon another north-trending lineament.

 

The writers of the Technical Report note that the exploration done in 2006 focussed primarily on bedding-parallel copper zones. Second priority targets were the structurally-controlled north trending Canta�a and Lomas Orcco zones. The results from TR07-01 and TR07-07, coupled with follow-up exploration such as the MMI survey, show that these north-trending structures are equal to, or perhaps of greater exploration significance, than the original primary target. They also noted that the 2007 geophysical survey was not optimally oriented (north-northeast) or spaced (at 200 metres apart) for these north-trending structures, with only three lines obliquely crossing either the Canta�a or the Lomas Orcco structures. Closer spaced lines oriented east-west are more suitable to test these targets.

 

Fern�ndez-Baca and Foster recommend that future exploration at TotoRoko includes:

 

1.   Additional IP surveys are done on east-west survey lines over the north part of the Canta�a structure and adjacent anomalous areas eastwards to the Lomas Orcco structure.

 

2.   Expansion of the detailed mapping area and additional petrographic studies of the alteration zones.

 

3.   Completing drill hole TR07-07 to its target depth. Follow-up drill holes should also be completed in step-outs towards the south of TR07-07 along the north-south structure defining the mineralization.

 

4.   Drilling three deep holes near the Canta�a structure to test the MMI and the coincident chargeability anomaly.

 

5.   Drilling two shallow holes in the untested Jala Orcco zone.

 

Gitennes is pleased by the results of the MMI programme at TotoRoko. Representatives of the Company are currently re-visiting communities in the project area to explain our near-term plans, which will include following the recommended exploration programmes.

 

Exploration at TotoRoko has been under the supervision of Alvaro Fernandez-Baca, P.Geo. and James Foster, P.Geo. Samples collected for MMI are delivered to SGS Laboratories Limited in Lima; analyses is done at the SGS Laboratories in Canada Further information on MMI may be found by accessing http://www.geochem.sgs.com/met_mobile_metal_ions_geochem. Other analytical services and fire assays are provided by ALS Chemex Laboratories in Lima. The technical information in this release has been reviewed by J. Blackwell (P.Geo), a Qualified Person as defined by National Instrument 43-101.

 

The full text of the Technical Report is available in the company profile section on SEDAR

 (http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00003914)

 

Plan maps of the MMI results are available on the Company�s website at www.gitennes.com.

 

Jerry Blackwell, President

 

 

The Toronto Stock Exchange has neither approved nor disapproved the information herein.

 

 

Suite 2390 � 1055 West Hastings Street, Box 60, Vancouver, B.C.  V6E 2E9  Tel: 604-682-7970  Fax: 604-608-9014

email: info@gitennes.com   website: www.gitennes.com

 
 
 
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VanEck Vectors Global Alternative Energy ETF

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CODE : GIT.TO
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Gitennes Expl. is a silver exploration company based in Canada.

Gitennes Expl. holds various exploration projects in Canada and in Peru.

Its main exploration properties are TUCUMACHAY, URUMALQUI and TOTOROKO in Peru and RED and BEAR in Canada.

Gitennes Expl. is listed in Canada. Its market capitalisation is 2.6 millions as of today (US$ 2.4 millions, € 1.6 millions).

Its stock quote reached its highest recent level on December 31, 1998 at 3.50, and its lowest recent point on April 09, 2009 at 0.03.

Gitennes Expl. has 47 442 200 shares outstanding.

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Financings of VanEck Vectors Global Alternative Energy ETF
4/20/2010private placement update
8/26/2009Completes Private Placement
7/28/2009Amends Terms of Private Placement
Project news of VanEck Vectors Global Alternative Energy ETF
2/23/2011(Urumalqui)[Gitennes Exploration Inc.] 2011-02-22
2/1/2010(Urumalqui)Option Urumalqui Project
5/13/2009(Tucumachay)to Acquire 100% Ownership of Peruvian Gold Project
12/11/2008(Urumalqui)Reports on Progress at the Urumalqui Silver-Gold Project
4/18/2008(Urumalqui)REPORTS THAT URUMALQUI DRILLING HIGHLIGHTS GOLD AND SILVER G...
4/1/2008(Totoroko)NEW RESULTS POINT TO ADDITIONAL DRILLING
3/4/2008(Urumalqui)INTERSECTS URUMALQUI SILVER - GOLD VEIN AT DEPTH
1/30/2008(Totoroko) REPORTS COPPER AT TOTOROKO, STARTS DRILLING AT URUMALQUI
11/13/2007(Totoroko)UPDATE ON TOTOROKO DRILLING
7/30/2007(Totoroko)TotoRoko copper-silver-gold project - update
4/16/2007(Totoroko)Update on Peru Copper-Silver Project
Corporate news of VanEck Vectors Global Alternative Energy ETF
9/1/2011.
7/7/2010acquires Quebec Property, provides update on Peru Operations
3/19/2010Equity Financing
8/17/2009Listing Update
6/15/2009announces equity financing
12/18/2008TSX Listing Review
6/24/2008Stakes Iron Property in Peru
9/19/2007Gitennes reports on TotoRoko geophysics and results
5/15/2007Peru exploration and royalty update
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