Gitennes Exploration Inc

Published : April 18th, 2008

REPORTS THAT URUMALQUI DRILLING HIGHLIGHTS GOLD AND SILVER GRADES AT DEPTH

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Keywords :   Gold | K Street | Peru | Recovery | Silver |

GITENNES REPORTS THAT URUMALQUI DRILLING HIGHLIGHTS GOLD AND

SILVER GRADES AT DEPTH

 

-  8.52-metre true width returns 191.7 g/t silver, 1.9 g/t gold in drill hole 45

-  Zone remains open to expansion along strike in both directions, and to depth

 

Vancouver, April 17, 2008: Gitennes Exploration Inc. (TSX-GIT) is very pleased to release the remaining drill results for its recently completed drill programme at Urumalqui in northern central Peru. Urumalqui is a 100%-owned exploration-stage project where the Company is systematically drilling one large, 1,500 metre-long epithermal silver-gold vein within a larger multi-vein system with the near-term objective of establishing a preliminary inferred resource.

 

The recent drilling ended in March, having completed twelve holes totalling 2,433.6 metres on the main Urumalqui Vein. Results from holes URU08-36 through 40 were previously released March 4th, 2008. Significant vein intercepts include:

  

Drill Hole Number

From…to…

(metres)

Core length & True width (metres)

Silver

(g/t)

Gold (g/t)

Silver Equivalent (g/t)

Silver Equivalent (oz/ton)

URU08-41

Incl.

And

Incl.

219.30 to 225.50

220.30 to 223.30

236.00 to 239.30

237.50 to 238.00

6.20

3.00

3.30

0.50

3.29

1.59

1.75

0.26

103.61

127.07

44.82

30.00

--

--

1.38

6.84

n/a

n/a

113.82

372.00

n/a

n/a

3.32

10.85

URU08-42

Incl.

156.05 to 162.50

157.30 to160.90

6.45

3.60

4.40

2.46

157.18

168.61

2.48

4.13

281.18

375.11

8.20

10.94

URU08-43

147.90 to152.55

4.25

2.56

128.03

0.74

165.03

4.81

URU08-44

239.00 to 242.60

3.60

2.98

83.81

0.46

106.81

3.12

URU08-45

Incl.

And

211.90 to 222.80

211.90 to 213.30

217.40 to 219.20

10.90

1.40

1.80

8.59

1.10

1.42

191.72

265.14

386.89

1.91

0.38

7.55

287.22

284.14

764.39

8.38

8.29

22.29

URU08-46

100.05 to 101.05

1.00

0.71

88.05

0.27

101.55

2.96

URU08-47

139.50 to 142.30

2.80

1.98

162.86

0.97

211.36

6.16

 

Silver equivalent is calculated using a ratio of 50:1. The Company has not undertaken metallurgical tests to determine the recovery of gold and silver. Therefore the silver equivalents values stated here assume a recovery of 100%.

 

Silver and, most notably gold grades, are strong in deep step-down holes URU08-41 and 45 that cut the vein from 170 to 240 metres below surface along a 370 metre-long segment of the vein. Holes URU08-42 and 43 infill a 100 by 200 metre-sized gap in drilling and are comparable in grade and widths to adjacent drill holes. Drill hole URU08-46 tested the northwestern edge of the primary target area at a depth of 110 metres below surface, returning a below average grade intercept. Though disappointing, earlier holes drilled 50 to 100 metres away to the southeast returned excellent results (i.e. Hole URU03-07 with 13.66 oz/ton silver equivalent over a true width of 4.06 metres). 

 

Drill hole URU08-47 is a step-out 70 metres to the southeast from hole URU04-29, and adds strike length to the main target in an area where the vein does not appear at surface. Further step-out and deeper drilling is likely to add additional mineralization.

 

As reported previously by the company, a mineralized gold (and silver) halo, or “envelope”, surrounds the main Urumalqui vein. Drilling continues to encounter this remarkable style of mineralization.

 

Drill Hole

From (metres)

To (metres)

Width (metres)

Gold (g/t)

Silver (g/t)

URU08-42

135.50

166.80

31.30

0.7

47.8

URU08-43

142.70

174.80

32.10

0.2

57.9

URU08-47

108.10

144.10

36.00

0.3

27.1

 

Gitennes’ exploration drilling at Urumalqui has been done on relatively widely-spaced centres, from 45 to over 100 metres apart, and has concentrated upon the 1,000 metre-long, southeastern and central portion of the main Urumalqui vein. Despite having drilled the vein to depths exceeding 200 metres below surface, the vein structure remains strong and mineralized. All holes are in the “boiling zone”, based upon vein textures, and the potential for good mineralization at deeper levels than those tested thus far is considered to be good. Recent drill results also suggest that further drilling on the 400 to 500 metre-long northwestern segment of the same vein structure is necessary, where 2003-2004 drilling may have been too shallow.

 

The next steps in the project are to complete some very preliminary laboratory tests that will guide future metallurgical tests, and to prepare a resource estimate that will be included in a technical report.

 

Drilling at Urumalqui is under the supervision of Alvaro Fernandez-Baca, P.Geo. Analytical services and fire assays are provided by ALS Chemex Laboratories and SGS Laboratories Limited 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.

 

An updated drill plan and a longitudinal section may be found on our 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

 

Data and Statistics for these countries : Peru | All
Gold and Silver Prices for these countries : Peru | All

Gitennes Exploration Inc

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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 CA$ 2.9 millions as of today (US$ 2.6 millions, € 1.8 millions).

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

Gitennes Expl. has 51 860 000 shares outstanding.

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Financings of Gitennes Exploration Inc
4/20/2010private placement update
8/26/2009Completes Private Placement
7/28/2009Amends Terms of Private Placement
Project news of Gitennes Exploration Inc
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 Gitennes Exploration Inc
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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