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Gold/Mining/Energy : GITENNES Exploration (ase:GIT) -- Ignore unavailable to you. Want to Upgrade?

To: Bat Man who wrote (864)	10/27/1997 9:59:00 PM
From: Barry Smith	Respond to of 1092

Current exploration activities at the Virgen property, Peru Gitennes Exploration Inc GIT Shares issued 20,974,831 Oct 27 close $3.80 Mon 27 Oct 97 News Release Mr Jerry Blackwell reports The company has three core rigs currently operating at the Virgen property in Peru. Zona Rio Suro (North) Drilling north of the river and east of the area of outcropping oxide breccia encountered highly altered rocks with disseminated gold and copper mineralization. An open zone of anomalous values (greater than 0.1% copper) is present over a strike length of 260m in seven drill holes, with very strong mineralization noted in four holes. From south to north, revised results include: Hole Interval Length Au Cu (m) (m) g/t % V97-22 42.7-47.2 4.5 5.03 0.81 77.1-83.5 6.4 0.17 0.18 VRC97-14 40-56 16 2.37 0.58 56-96 40 0.36 0.13 VRC97-22 0-19 19 0.46 nil 19-96 77 5.00 nil 96-120 24 1.25 0.48 V97-21 46.3-74.1 27.8 1.82 nil 74.1-80.2 6.1 1.47 0.54 80.2-91.8 11.6 no recovery 91.8-97.8 6.0 2.20 0.74 125.3-163.4 38.1 nil 0.175 VRC97-18 55-59 4 3.98 nil 59-140 81 2.85 0.49 Hole VRC97-14 is undercut by V97-22, and V97-21 is undercut by VRC97-18. Both undercutting holes, drilled on sections 190m apart, indicate that the zone of sulphide mineralization is thickening downdip and to the east. Other holes which intersected narrow, low grade copper (greater than 0.1%) intervals include V97-20, VRC97-19 and 21. The epithermal copper-gold mineralization reported here was found during drilling of the main oxide gold zone at Zona Rio Suro. Assay values are very good, and the discovery is open for expansion. Zona Alumbre Exploration drilling is focused on Zona Alumbre, following up on the previously announced intersection in hole V97-24 (18/08/97). This earlier hole intersected gold mineralization in fractured and highly altered sedimentary and intrusive rocks. Copper values in this hole are erratic, unlike gold, and range from a high of 0.62% down to trace levels. Drilling is continuing, with four holes completed thus far. No results will be reported until the discovery hole has been bracketed on all sides with follow-up holes, and complete assays have been received. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com