VANCOUVER, Nov. 2 /CNW/ - Gitennes Exploration Inc. (TSX-GIT) is pleased to announce that it has acquired a 1,600-hectare copper property in the department of Arequipa, southern Peru, approximately 510 kilometres southeast of Lima. The TotoRoko Property was staked based upon its gross geological similarities to the IOCG-type (Iron-Oxide-Copper-Gold) deposits found in northern Chile. There is no evidence of prior work on the property, however there is considerable competitor activity in the region, exploring for similar deposits. Several copper showings hosted in upper Jurassic-age volcanic rocks were discovered by company geologists during regional reconnaissance. This volcanic sequence, the Guaneros Formation, is similar to the La Negra Formation in Chile that hosts deposits such as Phelps Dodge¿s Candelaria and Anglo American¿s Mantoverde deposits. Surface mineralization at TotoRoko is oxidized, with secondary copper minerals such as chalcocite and malachite being observed in outcrop. Rock textures indicate that the original sulphide minerals occurred as disseminations or along fractures in silicified and metasomatized volcanic tuffs and volcanically-derived sediments. In addition to copper, associated silver may be significant. Grab and panel samples taken from outcrops within a 300 x 150 metre area of mineralized garnet-epidote skarn assay 2.06% Cu and 28 g/t Ag, 4.1% Cu and 65.8 g/t Ag, and 2.9% Cu and 33 g/t Ag. Stream-sediment surveys have identified a second area two to three kilometres further west with anomalous copper values (greater than 100 ppm). Mineralized copper-bearing float has been noted within the anomaly area. Work at TotoRoko is under the supervision of Alvaro Fernandez-Baca (P.Geo). Analytical services are provided for by ALS Chemex Laboratories in Lima, Peru. The TotoRoko Property is in part road accessible, three hours by truck east of the Pan American Highway, and at elevations of less than 3,500 metres. The Company plans to continue exploration at TotoRoko over the coming months, through a programme of reconnaissance mapping, prospecting and sampling. Tucumachay Project Gitennes anticipates drilling to resume at its Tucumachay Property within the first half of November. This will be the third drill programme at Tucumachay, following upon earlier success at the Leonardo, Cerro Oeste and Greg prospects. Over the past six weeks crews have been on site completing additional geophysical surveys, geochemical and rock sampling programmes. Gitennes has vested its 100% interest in the Tucumachay Project. Once Gitennes has completed 12,000 metres of drilling on the property, Inmet Mining Corporation (the original property owner) may elect to earn a 60% interest by spending three times Gitennes' total project-related expenses to that point, or retain a net smelter returns royalty. The technical information contained in this release has been reviewed by Jerry Blackwell (P.Geo.), a Qualified Person as defined in National Instrument 43-101. The Toronto Stock Exchange has neither approved nor disapproved the information herein.
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