In the new year, Gitennes Exploration (ASE) will begin a follow-up, 30-hole drill program at its Fishhook Lake projects, 120 km northwest of Yellowknife, N.W.T.
The company recently drilled 14 holes, testing the gold potential of two iron formations on its wholly owned Fishhook property and the adjacent TQY property, held 50-50 with Tanqueray Resources (ASE).
The Firefly formation outcrops intermittently on the Fishhook property over a length of 1,590 ft. and extends eastward for an additional 150 ft. over the joint-ventured TQY property. Surface widths vary from 6 to 20 ft.
Mapping and geophysics have extended the zone an additional 2,980 ft. on the Fishhook and a further 1,590 ft. on the TQY, for a total possible length of 5,820 ft. It is tightly folded into a steep `Z’ shape.
Of the seven holes drilled on the Firefly zone, four were drilled within the Fishhook property. Holes 95-57 and 58 were drilled from the same setup, on the west limb of the structure, at minus 45! and minus 65!, respectively. Hole 57 intersected 5.3 ft. of 0.39 oz. gold per ton, while hole 58 returned 22.5 ft. of 0.11 oz.
Hole 95-60 was drilled 310 ft. to the north, beneath the main anticlinal fold closure, and intersected 21.8 ft. of 0.22 oz., including an interval grading 0.51 oz. over 4.8 ft.
Two holes in the eastern extension of the Firefly on the TQY property returned 42.4 ft. of 0.16 oz. for hole 95-61 and 44.4 ft. of 0.22 oz., including an interval of 12.5 ft. grading 0.43 oz., for hole 62. The holes were drilled 360 ft. south of hole 60 at minus 45! and minus 65!, respectively.
A second iron formation structure, called the Woolly Bugger, was tested with seven holes. The zone extends for a total length of 790 ft. on the Fishhook property, 3,600 ft. southwest of the Firefly zone.
Of the four holes that intersected the iron formation host, hole 95-54 returned 15.1 ft. of 0.28 oz. (including 4.6 ft. grading 0.46 oz.), while hole 95-55 (drilled beneath hole 54) returned 28.2 ft. of 0.42 oz.
Gitennes expects to carry out further infill geophysical surveys, zeroing in on targets such as the Humpy, before the next phase of drilling begins. Gitennes has 17.8 million shares outstanding.
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