Gitennes Exploration Inc V.GIT

Indepth Stockhouse Profile of GIT

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In Depth Profile: Overview Gitennes Exploration Inc. (GIT: TSX) is an established exploration-oriented junior public company focused on gold, silver, zinc and copper exploration in Peru. The Company has been listed in Canada since 1993 and traded on the TSX since January of 1998. Tucumachay Property The Tucumachay property is a sediment-hosted gold prospect acquired from Inmet Mining Corp. Gold at Tucumachay is disseminated in Jurassic limestone, sandstone and shale, associated with zones of silicification, solution collapse, and carbonaceous fault zones. Gold mineralization is concentrated along the western limb and hinge zone of a major fold. The eastern limb is mineralized with a series of high-grade zinc showings that extend onto the 100%-held Titimina Property. Gitennes has completed three drill programmes on the gold zones, outlining a large area of low-grade mineralization at surface. More drilling and metallurgical test work is planned for 2007, coupled with the start of drilling on the zinc showings. TotoRoko Property The TotoRoko property is located in the department of Arequipa, southern Peru, approximately 510 kilometres southeast of Lima. The copper-silver mineralization at TotoRoko was discovered through in-house prospecting and was staked based upon the strong oxide copper mineralization at surface and its gross geological setting which is similar to that of 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. 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, matrix-fillings or along fractures in silicified and metasomatized volcanic tuffs and volcanically-derived sediments. In addition to copper, associated silver may be significant. Grab, chip and panel samples taken from outcrops within the 3,500-metre long mineralized horizon often assay over 1% Cu and over one ounce per ton silver, with highly anomalous gold. Other Properties The Urumalqui property is an epithermal gold/silver vein prospect. Exploration work on Urumalqui has found four principal vein systems, one of which has been traced on surface and by drilling over a continuous distance of 1700 m, to depths of 220 m with an average exposed width of 3 m. Other Peruvian projects include the Rio Seco (Cu-Mo-Au), and Lapidem (Ag) properties. Strategy Gitennes is an exploration company and is known for tackling early-stage projects, its willingness to work in new exploration settings and its cost-effective approach to property exploration and development. Always looking for new opportunities, the Company is not focused on any single mineral commodity, preferring instead to hunt for opportunities that show size and scope in a political jurisdiction and location that make commercial sense. Corporate Information on Stockhouse Address Suite 2390, 1055 West Hastings Street, Vancouver BC, Canada V6E 2E9 Phone [phone] Fax [phone] Email [e-mail] Website www.gitennes.com Ceo Jerry D. Blackwell President & CEO Jerry Blackwell is a graduate of the University of Western Ontario in London, Ontario with an Honours Degree B.Sc. in Geology (1974), and is a Professional geoscientist registered in the Province of British Columbia. Upon graduation, he was employed by Cominco Limited in their Toronto office as an exploration geologist, and was involved in formulating and carrying out grass-roots uranium exploration throughout North America, with the primary focus being the reconnaissance in the (then) Northwest Territories. In 1980, he took a leave of absence to work on a graduate degree (spending the summer months again working for Cominco on sedex zinc in the Selwyn Basin of the Yukon and at the Sullivan Mine in southeastern British Columbia). In 1983, he relocated to Vancouver and worked for Cominco’s Western Exploration Department on a variety of base metal and precious metal programmes in northwestern British Columbia , including the Snip and Tulsequah Chief properties, and in Tasmania. In 1988, he set up a private consulting practice and was involved in a number of projects in Australia and Canada working for both junior exploration companies and multinational miners. During this period, he was lucky enough to become involved in the gold discoveries at Eskay Creek as a consultant to Prime Exploration Inc., the company that managed the exploration and development of the deposit on behalf of Stikine and Calpine. In 1993, he was asked to become the President of Gitennes Exploration Inc. and has served in that position since. In 1996 he took the company to Peru, a result of which was the acquisition of the Virgen property and eventual discovery of an important sandstone-hosted gold deposit that has been placed into production at a rate of 60,000 ounces a year. He continues to pursue grass-roots exploration projects in both Canada and Peru, is a director or advisor to several other junior explorers, and still prefers being in the field to being in the boardroom. Description Engaged in the exploration for and development of mineral properties. Employees 2 (2006) Fiscal Year Dec 31 Assets $4,550,152 (2006) $4,334,163 (2005) Revenue $0 (2006) $0 (2005) Net Income $(746,598) (2006) $(1,449,498) (2005) Auditor PricewaterhouseCoopers LLP Ownership Class Publicly-traded corporation Stocks TSX: GIT Status Common shares listed on the Toronto Stock Exchange; Ontario Charter, 1992. Related Companies Castle Keep Ltd., Subsidiary Compania Minera Seis Rios S.A., Subsidiary Gitennes Exploraciones Peru S.A., Subsidiary Torre International Holdings Ltd., Subsidiary Research Links Annual_Report CBR.ca_Listing CBR.ca_Profile CEO_Biography CNW Group Similar Companies GLR Resources Inc. Queenston Mining Inc. Sulliden Exploration Inc. Barker Minerals Ltd. Comaplex Minerals Corp. Magnum Uranium Corp. Board Members Jerry D. Blackwell - Boardmember Kenneth D. Booth - Boardmember Lyle R. Hepburn - Boardmember Edmund T. Kimura - Boardmember Victor A. Tanaka - Boardmember Executive Officers Jerry D. Blackwell - President & CEO Kerry M. Spong - CFO James R. Foster - Vice President Lyle R. Hepburn - Corporate Secretary Comments about this profile data please click here. Email Alert Lists NewsBlast ** @ The Bell NewsHotline Learn More PrefLetter - Canadian Preferred Shares Recommended Monthly - www.prefLetter.com Ads by Google