New Mosher

Gitennes has an option to earn up to an 85% interest in the New Mosher Gold Property which is 670 hectares and is located approximately four kilometres from the past producing Joe Mann Gold Mine.  

Terms of the option with Kintavar Exploration are:

   
Date for Completion Common Shares to be Issued * Minimum Exploration Expenditures
TSX-V acceptance for filing of Agreement 150,000 (1) Nil
On or before Sept 30, 2021 150,000 $150,000
On or before Sept 30, 2022 150,000 $250,000
On or before Sept 30, 2023 150,000 $300,000
On or before Sept 30, 2024 400,000 $300,000
TOTAL: 1,000,000 $1,000,000

Gitennes can increase its interest to 85% on the Property by either producing an inferred resource or conducting a PEA by September 30, 2025.  Upon completion of an inferred resource Gitennes will pay Kintavar $250,000 in cash or shares at Gitennes’ option and pay an additional $750,000 in cash only on delivering a PEA.  Gitennes will grant to Kintavar a 1.5% NSR on the Property and Kintavar will grant Gitennes the right to purchase at any time 1% for C$1.0 million.

Mineralization on New Mosher is within a sheared gabbro and basalt with mesothermal type gold-bearing quartz veins.  Recent sampling has identified several anomalous areas that require follow up with sampling and geophysics.  Much of the property remains untested.

The New Mosher showing has been trenched and historically reported grades from the trenching are 16.7 g/t gold and 20.1 g/t gold.  In the 1980’s three holes were drilled on the New Mosher showing and one hole returned 1.81 g/t gold over 4.5 metres.  There has been no recent drilling on the New Mosher Property.

Two northeast trending structures have been identified on the Property and the New Mosher showing lies along the western structure.  Quartz veins, the primary host of gold mineralization at New Mosher, have been traced over 1.5 km along the structure on the west side of the Property.  The parallel structure on the east side of the Property has not been trenched or drilled.