- Mineralization extended to southeast and to depth
- Grades and widths remain strong
- Large zone of strong alteration with disseminated mineralization
found at deeper levels
VANCOUVER, March 4 /CNW/ - Gitennes Exploration Inc (TSX-GIT) is pleased to report significant silver and gold intercepts from the ongoing drilling programme at its 100%-owned Urumalqui project in north central Peru.
Six new holes have been completed, with results received for the first five, and drilling continues. All of the holes reported here test the main Urumalqui Vein structure deeper at its southeastern end. Drilling shows that while the vein is narrow on surface (1 metre), it thickens with depth. Significant vein intercepts from the current programme include:
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Core
length Silver Silver
Drill From... & True Equi- Equi-
Hole to... width Silver Gold valent valent
Number (metres) (metres) (g/t) (g/t) (g/t) (oz/ton)
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URU08-36 60.15-62.15 2.00 1.53 493.0 3.05 645.5 20.8
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URU08-37 170.00-180.00 10.00 6.46 108.9 0.48 132.9 4.3
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URU08-38 88.20-90.95 2.75 2.11 84.9 2.02 185.9 6.0
Including 89.05-89.50 0.45 0.41 39.0 5.75
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URU08-39 254.50-257.90 3.40 2.60 104.1 1.18 163.2 5.2
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URU08-40 181.00-193.00 12.00 8.85 141.0 0.49 165.5 5.3
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Silver equivalent is calculated using a ratio of 50:1. The Company has not undertaken metallurgical tests to determine the recovery of gold and silver. Therefore the silver equivalents values stated here assume a recovery of 100%.
Vein widths and the silver and gold grades reported are comparable or higher than those from previous drill programmes. The intercepts in the southeastern portion of the Urumalqui vein show that the structure remains open at depth and along strike to the southeast. At depth the Urumalqui vein maintains both continuity and grade and remains a relatively simple quartz-andularia vein with only rare traces of sulphide minerals. These deeper intersections have significantly increased the project's resource potential. The Urumalqui vein has now been traced by drilling over a strike length of 1,400 metres and has been intersected to depths of over 200 metres below surface.
As reported previously by the company (November 20th, 2003), a mineralized gold halo surrounds the main Urumalqui vein. Deeper drilling during this latest programme has found that the width and strength of this "gold envelope" mineralization increases at depth, with significantly higher silver grades than previously identified. Recently completed holes URU08-39 and URU08-40 intersected the Urumalqui vein and its envelope at deeper levels from surface than previously encountered by the Company.
------------------------------------------------------------------------- Drill Hole Width Gold Silver Number From... to... (metres) (metres) (g/t) (g/t) ------------------------------------------------------------------------- URU08-39 235.00-295.60 (E.O.H.) 60.60 0.30 26.0 ------------------------------------------------------------------------- URU08-40 174.00-205.30 (E.O.H.) 31.30 0.41 64.2 -------------------------------------------------------------------------
Gold and silver mineralization in the gold envelope in holes URU08-39 and URU08-40 is accompanied by locally strong chlorite-pyrite alteration with zones of moderate silicification. The holes ended in mineralization and the zone remains open in all directions. This zone of alteration is first observed in hole URU08-39 at a depth of 144 metres (hangingwall to the vein) and is more pervasive from 235 metres downwards, with remarkably consistent low-grade gold and silver mineralization.
Company geologists suspect that the zone is "evolving" at depth into a larger hydrothermal system that is not epithermal in nature and pre-dates the veins that have been the target of our drilling to date. It is interesting to note that a comparable style of gold mineralization was encountered in drill holes (2004) from the Mariscala vein, located one kilometre west. The intervening area has not been drilled.
Hole locations: Hole URU08-36 was collared 60 metres north-northwest of hole URU04-29 (2.2 metres @ 149.29 g/t Ag) at an inclination of -45 degrees. The vein was cut at a vertical depth of 48.5 metres below surface. This hole, together with URU08-37 and URU08-38, was aimed at testing the continuity of the vein between hole URU04-29, the most southeasterly hole drilled to date, and hole URU04-16 (1.4 metres @ 296.4 g/t Ag), collared 250 metres to the northwest.
Hole URU08-37 was collared 80 metres west-southwest of hole URU08-36 at an inclination of -55 degrees. The vein was cut at a vertical depth of 157 metres below surface. The hole was aimed at testing the continuity of the vein progressively towards the northwest from hole URU04-29.
Hole URU08-38 was collared 45 metres closer towards the vein than URU08-37 at an inclination of -55 degrees. It aimed to cut the vein at a shallower depth than URU08-37 in order to test the continuity of mineralization along the plane of the vein. It cut the vein at a vertical depth of 78 metres below surface.
Hole URU08-39 was collared 189 metres west-southwest of hole URU04-38 and aimed to cut the vein in between earlier holes URU04-30 (1.03 metres @ 135 g/t Ag) and URU03-13 (2.83 metres @ 237.60 g/t Ag), spaced 100 metres apart. URU08-39 was drilled at an azimuth of 023 degrees and an inclination of -45 degrees. The vein was cut at a vertical depth of 207 metres below surface, the deepest vein intercept to date.
Hole URU08-40 was collared 100 metres northwest of hole URU08-39 and 30 metres behind hole URU03-13 (2.83 metres @ 237.60 g/t Ag) along the same section. The aim was to undercut hole URU03-13 to test the vein's grade and thickness continuity at depth. The hole was drilled at an inclination of -50 degrees. The vein was intersected at a vertical depth of 158 metres below surface.
Drilling at Urumalqui is under the supervision of Alvaro Fernandez-Baca, P.Geo. Analytical services and fire assays are provided by ALS Chemex Laboratories in Lima. The technical information in this release has been reviewed by J. Blackwell (P.Geo), a Qualified Person as defined by National Instrument 43-101.
Analytical data from the gold envelope, an updated drill plan and a longitudinal section has been posted to our website at www.gitennes.com/Projects/Urumalqui.
Jerry Blackwell, President
The Toronto Stock Exchange has neither approved nor disapproved the
information herein.