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VanEck Vectors Global Alternative Energy ETF

Publié le 04 mars 2008

INTERSECTS URUMALQUI SILVER - GOLD VEIN AT DEPTH

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 GITENNES INTERSECTS URUMALQUI SILVER - GOLD VEIN AT DEPTH

 

         Mineralization extended to southeast and to depth

         Grades and widths remain strong

         Large zone of strong alteration with disseminated mineralization found at deeper levels

 

Vancouver, March 4, 2008: Gitennes Exploration Inc (TSX-GIT) is pleased to report significant silver and gold intercepts from the ongoing drilling programme at its 100%-owned Urumalqui project in north central Per�.

 

Six new holes have been completed, with results received for the first five, and drilling continues. All of the holes reported here test the main Urumalqui Vein structure deeper at its southeastern end. Drilling shows that while the vein is narrow on surface

(1 metre), it thickens with depth. Significant vein intercepts from the current programme 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)

URU08-36

60.15 - 62.15

2.00

1.53

493.0

3.05

645.5

20.8

URU08-37

170.00 - 180.00

10.00

6.46

108.9

0.48

132.9

4.3

URU08-38

Including

88.20 - 90.95

89.05 - 89.50

2.75

0.45

2.11

0.41

84.9

39.0

2.02

5.75

185.9

6.0

URU08-39

254.50 - 257.90

3.40

2.60

104.1

1.18

163.2

5.2

URU08-40

181.00 - 193.00

12.00

8.85

141.0

0.49

165.5

5.3

 

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%.

 

Vein widths and the silver and gold grades reported are comparable or higher than those from previous drill programmes. The intercepts in the southeastern portion of the Urumalqui vein show that the structure remains open at depth and along strike to the southeast. At depth the Urumalqui vein maintains both continuity and grade and remains a relatively simple quartz-andularia vein with only rare traces of sulphide minerals. These deeper intersections have significantly increased the project�s resource potential. The Urumalqui vein has now been traced by drilling over a strike length of 1,400 metres and has been intersected to depths of over 200 metres below surface.

 

As reported previously by the company (November 20th, 2003), a mineralized gold halo surrounds the main Urumalqui vein. Deeper drilling during this latest programme has found that the width and strength of this �gold envelope� mineralization increases at depth, with significantly higher silver grades than previously identified. Recently completed holes URU08-39 and URU08-40 intersected the Urumalqui vein and its envelope at deeper levels from surface than previously encountered by the Company.

 

Drill Hole

Number

From � to�

(metres)

Width

(metres)

Gold

(g/t)

Silver

(g/t)

URU08-39

235.00 - 295.60 (E.O.H.)

60.60

0.30

26.0

URU08-40

174.00 - 205.30 (E.O.H.)

31.30

0.41

64.2

 

Gold and silver mineralization in the gold envelope in holes URU08-39 and URU08-40 is accompanied by locally strong chlorite-pyrite alteration with zones of moderate silicification. The holes ended in mineralization and the zone remains open in all directions. This zone of alteration is first observed in hole URU08-39 at a depth of 144 metres (hangingwall to the vein) and is more pervasive from 235 metres downwards, with remarkably consistent low-grade gold and silver mineralization.


Company geologists suspect that the zone is �evolving� at depth into a larger hydrothermal system that is not epithermal in nature and pre-dates the veins that have been the target of our drilling to date. It is interesting to note that a comparable style of gold mineralization was encountered in drill holes (2004) from the Mariscala vein, located one kilometre west. The intervening area has not been drilled.

 

Hole locations: Hole URU08-36 was collared 60 metres north-northwest of hole URU04-29 (2.2 metres @ 149.29 g/t Ag) at an inclination of -45�. The vein was cut at a vertical depth of 48.5 metres below surface. This hole, together with URU08-37 and URU08-38, was aimed at testing the continuity of the vein between hole URU04-29, the most southeasterly hole drilled to date, and hole URU04-16 (1.4 metres @ 296.4 g/t Ag), collared 250 metres to the northwest.

 

Hole URU08-37 was collared 80 metres west-southwest of hole URU08-36 at an inclination of -55�. The vein was cut at a vertical depth of 157 metres below surface. The hole was aimed at testing the continuity of the vein progressively towards the northwest from hole URU04-29.

 

Hole URU08-38 was collared 45 metres closer towards the vein than URU08-37 at an inclination of -55�. It aimed to cut the vein at a shallower depth than URU08-37 in order to test the continuity of mineralization along the plane of the vein. It cut the vein at a vertical depth of 78 metres below surface.

 

Hole URU08-39 was collared 189 metres west-southwest of hole URU04-38 and aimed to cut the vein in between earlier holes URU04-30 (1.03 metres @ 135 g/t Ag) and URU03-13 (2.83 metres @ 237.60 g/t Ag), spaced 100 metres apart. URU08-39 was drilled at an azimuth of 023� and an inclination of -45�. The vein was cut at a vertical depth of 207 metres below surface, the deepest vein intercept to date.

 

Hole URU08-40 was collared 100 metres northwest of hole URU08-39 and 30 metres behind hole URU03-13 (2.83 metres @ 237.60 g/t Ag) along the same section.  The aim was to undercut hole URU03-13 to test the vein�s grade and thickness continuity at depth. The hole was drilled at an inclination of -50�. The vein was intersected at a vertical depth of 158 metres below surface.

 

Drilling at Urumalqui is under the supervision of Alvaro Fernandez-Baca, P.Geo. 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.

 

Analytical data from the gold envelope, an updated drill plan and a longitudinal section has been posted to our website at www.gitennes.com/Projects/Urumalqui.

 

Jerry Blackwell, President

 

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

 

Gitennes Exploration Inc.

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

 
 

VanEck Vectors Global Alternative Energy ETF

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CODE : GIT.TO
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Gitennes Expl. est une société d’exploration minière d'argent basée au Canada.

Gitennes Expl. détient divers projets d'exploration au Canada et au Perou.

Ses principaux projets en exploration sont TUCUMACHAY, URUMALQUI et TOTOROKO au Perou et RED et BEAR au Canada.

Gitennes Expl. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 2,6 millions (2,4 millions US$, 1,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 1998 à 3,50 , et son plus bas niveau récent le 09 avril 2009 à 0,03 .

Gitennes Expl. possède 47 442 200 actions en circulation.

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Financements de VanEck Vectors Global Alternative Energy ETF
20/04/2010private placement update
26/08/2009Completes Private Placement
28/07/2009Amends Terms of Private Placement
Projets de VanEck Vectors Global Alternative Energy ETF
23/02/2011(Urumalqui)[Gitennes Exploration Inc.] 2011-02-22
01/02/2010(Urumalqui)Option Urumalqui Project
13/05/2009(Tucumachay)to Acquire 100% Ownership of Peruvian Gold Project
11/12/2008(Urumalqui)Reports on Progress at the Urumalqui Silver-Gold Project
18/04/2008(Urumalqui)REPORTS THAT URUMALQUI DRILLING HIGHLIGHTS GOLD AND SILVER G...
01/04/2008(Totoroko)NEW RESULTS POINT TO ADDITIONAL DRILLING
04/03/2008(Urumalqui)INTERSECTS URUMALQUI SILVER - GOLD VEIN AT DEPTH
30/01/2008(Totoroko) REPORTS COPPER AT TOTOROKO, STARTS DRILLING AT URUMALQUI
13/11/2007(Totoroko)UPDATE ON TOTOROKO DRILLING
30/07/2007(Totoroko)TotoRoko copper-silver-gold project - update
16/04/2007(Totoroko)Update on Peru Copper-Silver Project
Communiqués de Presse de VanEck Vectors Global Alternative Energy ETF
01/09/2011.
07/07/2010acquires Quebec Property, provides update on Peru Operations
19/03/2010Equity Financing
17/08/2009Listing Update
15/06/2009announces equity financing
18/12/2008TSX Listing Review
24/06/2008Stakes Iron Property in Peru
19/09/2007Gitennes reports on TotoRoko geophysics and results
15/05/2007Peru exploration and royalty update
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