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.