Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Go long who wrote (936)	3/6/1998 6:05:00 PM
From: Rick McDougall	Respond to of 1092

GITENNES EXPLORATION INC. VANCOUVER, March 6 /CNW/ - Gitennes Exploration Inc. (TSE-GIT) announces recently received assay results from the north underground cross-cut at Zona Rio Suro, and from the Zona Rio Suro Norte copper - gold zone. These encouraging results further demonstrate the potential of the Gitennes' Virgen Property, located in north - central Peru. Zona Rio Suro - North Cross-cut: This working cuts across the strike of a high grade portion of Zona Rio Suro, over a true width of 41meters. The North Drift (46.75 meters of 4.53 g/t gold) drifted along the eastern edge of this body. << -------------------------------------------------------------------- Length (meters) Grams/tonne Gold Length (feet) Ounces/ton Gold -------------------------------------------------------------------- 44.8 10.56 146.9 0.31 --------------------------------------------------------------------- >> Assay results for this cross-cut are a weighted average of face and wall samples. Muck samples exhibit higher grades, and reconcilliation of the grade variation may subsequently revise these results. By way of illustration, wall versus muck samples are over a 31 meter (highest) grade portion of the cross-cut follow: Wall Muck Grams/tonne Gold 12.79 16.09 This zone of high grade is part of a linear zone of high grade breccia which has been previously intersected by surface drilling over a minimum length of 120 meters, across true widths of 9 to 40 meters, and to vertical depths of 65 meters. Geological studies indicate that the zone is offset by faults at several locations, but remains open along strike both to the north and south, and to depth. This zone of high grade, as well as several other potential ''sweet spots'' in the larger, but lower grade Zona Rio Suro, will be further delineated by underground and surface diamond drilling during the next two months. Zona Rio Suro Norte (''Norte''): Additional core holes testing this zone of sulphide copper and gold mineralization, combined with recently completed surface geophysics, mapping and soil sampling, suggest that this target may be much larger than previously thought. << --------------------------------------------------------------------- Hole Number From..to.. Core Length Gold Silver Copper (meters) (meters) g/t g/t % --------------------------------------------------------------------- (greater than) V97-44 154.37 to 207.40 53.03 0.56 - 0.15 --------------------------------------------------------------------- V97-46 109.40 to 183.00 73.6 1.36 - (greater than) 0.15 including 173.30 to 180.05 6.75 11.45 - 0.81 --------------------------------------------------------------------- V98-47 145.20 to 178.17 32.97 1.26 - - including 157.55 to 178.17 20.62 1.83 10.91 0.43 --------------------------------------------------------------------- V98-49 125.87 to 134.20 8.33 1.77 15.15 0.28 --------------------------------------------------------------------- V98-51 333.45 to 395.62 62.17 1.13 16.84 0.93 --------------------------------------------------------------------- >> - Hole 44 is a deep undercut 70 m beneath VRC97-18 and V97-21. - Hole 46 is a 50 m step-out north, and is a 80 meter undercut below very low grade mineralization in VRC97-21. Two holes (V97-39 and 41) were abandoned before hitting target depths due to drilling difficulties. - Holes V98-47 & 49 test for extensions 50 meters further north. - Hole V98-51 tested the zone 150 meters beyond 47/49. Overall drill indicated dimensions for Norte are 440 meters in length, from 30 to 60 m in width, and has been drilled to vertical depths up to 300 m. Recently completed 100 m step-out hole V98-54 has also intersected the zone, and a further 170 meter step-out is in progress. Based on combined surface and drill data, the zone may exceed 1400 meters in length. Further step-out holes are planned, as the Company's drill strategy is to build length before in-fill drilling to establish detailed grade distribution. Maps of the underground workings at Zona Rio Suro, and drill hole locations for Norte are available by fax on request. Maps will also be posted on the Gitennes website (www.gitennes.com) by Monday, March 9th. The Toronto Stock Exchange has neither approved or disapproved the information herein contained. %SEDAR: 00003914E -0- 03/06/98 For further information: Jerry Blackwell, President s. --------------------------------------------------------------------------