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

To: Moneysmith who wrote (1031)	10/23/1998 12:34:00 PM
From: Sudeep Naidoo	Read Replies (1) \| Respond to of 1092

Azul project update Gitennes Exploration Inc GIT Shares issued 26,212,831 Oct 22 close $0.60 Fri 23 Oct 98 News Release Also Navigator Exploration Corp (NVR) Mr. Jerry Blackwell reports New claims have expanded the Azul, which now totals 42,000 hectares. Recent fieldwork on the company's Azul joint venture project with Navigator Exploration has focused on a 30 kilometre by 10 kilometre highland area where stream sediment geochemical samples indicate a potentially important source of the alluvial gold may exist. Within this area, radar imaging techniques identified a number of circular features which coincide with the high contrast stream anomalies. Preliminary groundwork indicate these anomalies are intrusive - volcanic complexes. Early reconnaissance consisted of detailed stream sediment and float sampling and mapping, as well as petrographic/rock alteration studies on a number of mineralized samples. Two important bedrock targets have been found to date, the Negro and the Yuyapichis, both near the upper portions of the highland watershed. The Negro target occurs within the headwaters of a series of streams which are strongly anomalous in gold. Silt samples taken from 14 of 15 streams and tributaries draining this target returned gold values of between 575 ppb and 48.3 grams/tonne gold. A large altered porphyry stock occurs in this area. A vuggy, altered porphyry breccia of approximately 800 metres by 500 metres occurs adjacent to the stock and is anomalous in gold. This target area is coincident with a pronounced, circular radar image anomaly. The Yuyapichis target, five kilometres northwest of the Negro, was defined by stream sediment gold anomalies and mineralized float. Eleven of 16 streams draining the target area were strongly anomalous in gold, with values ranging between 730 ppb and 9248 ppb gold. The target area measures 2 kilometres by 400 metres. A shallow trench excavated upstream from one of the highest gold anomalies yielded silicified, pyritic porphyry float which assayed 8.9 g/t gold. Two types of mineralized pyritized porphyry float were also discovered on a separate stream system in the Yuyapichis area. The first type consists of copper bearing, potassically altered hydrothermal breccia. The average of three assays performed on these boulders was 0.97 per cent Cu. The second type consisted of disseminated lead-zinc mineralization in sericitized sandstone. This material assayed 5.3 per cent Zn and less than 1 per cent Pb. The source areas for these two types of boulders has yet to be found. The continuing field program at Azul will concentrate on the Negro and Yuyapichis targets with the goal of defining drill targets. Poor outcrop exposure at both targets necessitates detailed soil sampling and trenching. Reconnaissance work will also continue at two other potential targets in the highland belt. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com