News release on Zona Alumbre:
Might we get a professional assessment from you? The numbers look
pretty weak, and the market doesn't like them, but the NR says "a
strong target is present."
Thanks
VANCOUVER, April 23 /CNW/ - Recent diamond drilling by Gitennes
Exploration Inc. (TSE-GIT) at its Virgen Property in Peru has
intersected the northern extension of its Zona Alumbre gold target.
Assay results for hole V98-61 include the following intercepts:
<<
From... to... Core length Grams/tonne Core Length Ounces/ton
(meters) (meters) Gold (feet) Gold
132.0 to 186.0 54.0 0.50 177.12 0.015
223.13 to 270.0 46.87 1.54 153.73 0.045
including
237.0 to 267.0 30.0 2.12 98.40 0.062
300.0 to 342.61 42.61 0.68 139.76 0.020
>>
The bulk of these multiple zones of mineralization in hole 61 are
hosted in leached volcanic tuffs and breccias associated with alunite,
sulphur and quartz. The mineralized volcanic unit itself is cut by
abundant hydrothermal breccias, which are identical to those found at
the Zona Rio Suro, 650 meters east.
Hole 61 was drilled at -60(deg.) due west, to test an area of potential
mineralization that was delineated through a combination of exploration
techniques, including rock alteration studies by Petrascience Consultants
using a PIMA analyzer, transient electromagnetic and induced polarization
geophysical surveys, and detailed geological work by in-house consultants.
This work suggests that the Alumbre area has a strong epithermal gold
signature, and that previous drilling by Gitennes, despite numerous drill
holes, had tested only a small portion of target. Hole 61 itself was preceded
by two holes lost prematurely, VRC97-12 and V98-58, both of which intersected
weak mineralization, but with unusually strong alteration and a favourable
host rock.
Mineralization and alteration in hole 61 can be correlated to the
original Alumbre discovery holes, V97-24 and 33, located to the south, 720 to
780 meters uphill. A total of 18 holes have been drilled in the southern
Alumbre area, most of which were lost either before reaching the target or at
the contact between mineralized and un-mineralized rock (i.e. holes 53 and
55). Results for some of these holes include:
<<
Drill Hole From... to... Core length Grams/tonne
(meters) (meters) Gold
V97-42 20.65 - 22.75 2.10 7.79
256.20 - 262.40 6.20 1.27
345.45 - 365.70 20.25 1.24
V97-48 192.15 - 202.41 10.26 0.495
V98-53 191.95 - 199.20 7.25 0.56
206.50 - 212.05 5.55 1.11
384.30 - 389.35 5.05 16.17
V98-55 199.73 - 201.30 1.57 1.37
(x)V97-24(x) 153.09 - 186.11 33.02 11.37
(x)V97-33(x) 158.20 - 173.10 14.90 18.33
186.80 - 189.90 3.10 8.54
235.00 - 261.80 26.80 3.46
261.80 - 283.10 21.30 1.64
(x) denotes results previously reported
>>
The Company has moved both surface drill rigs onto the Zona Alumbre
target area. Four new holes have been completed since hole 61. As recent
results indicate a strong target is present, more step-out holes are planned,
testing a target with minimum dimensions of 1,100 by 185 meters. Further step-
out drilling on Zona Rio Suro Norte will be deferred until the gold potential
of this new area in Zona Alumbre is determined.
A drill hole location map for the Zona Alumbre area is available on
request. Please contact Jill Brand for further information, at Gitennes'
Vancouver office, or by Email (info@gitennes.com).
The Annual General Meeting of the Company will be held in Vancouver on
Thursday, June 18th at 2:00 PM, in the President's Room, Terminal City Club. |
