ST-SAUVEUR, QC, April 2, 2019 /CNW Telbec/ - Genius Metals Inc. (CSE:GENI) (“Genius”) is pleased to announce the completion of two ground-based geophysics surveys on its gold-bearing Iserhoff and Sakami properties and plans to launch, during the spring of 2019, a 2000-3000 meters drilling campaign distributed equally between the two properties.
MAG-IP surveys totaling respectively 25 and 51 linear km have been recently completed on the Iserhoff and Sakami projects. The drilling targets were chosen based on the results of these surveys plus geological mapping and rock sampling by MERNQ and historical drilling results undertaken by mining companies.
The Iserhoff property is located 55 km NNE of Lebel-sur-Quévillon in the Northern Abitibi Greenstone Belt. The gold property comprises 51 mining claims totaling 28.5 km², 100% owned by Genius Metals. It can be accessed by a network of forestry roads some of which join provincial highway 113 connecting Lebel-sur-Quévillion and Chibougamau. The impetus for drilling is in part based on O'Brien Gold Mines drilling campaign results on a network of quartz veins injected in intermediate and felsic volcanics 3.5 km along strike and yielding anomalous gold values at shallow depth (ex: 1.40 g/t @ 8.3 m, 1.24 g/t @ 14.5 m and 1.24 g/t @ 5.9 m) with locally, some associated silver, lead and zinc content.
The Sakami property, located in the James Bay Territory of the Province of Quebec, straddles the structural contact between the Opinaca and La Grande Archean subprovinces. The gold property consists of 148 claims totaling 76.2 km2 and 100% owned by Genius Metals. A series of large faults orientated NE-SW extends 14 km southwest to the Quebec Precious Metals property where significant gold values were unearthed by drilling. The Sakami property displays diverse lithologies showing signs of alteration and/or gold mineralization (Au =1 to 5 g/t) principally associated with pyritized, sericitized mylonitic or sheared zones. Most of the drilling targets in the northeast property area are associated with secondary sheared and/or mylonitized zones and sulphide-rich gold-bearing basalts, whereas to the southwest, chargeability anomalies provided suitable targets.
The technical contents of this release were approved by Michel Boily, PhD, P.Geo; a Qualified Person (QP) as defined by National Instrument 43-101.
About Genius Metals Inc.
Genius Metals is a Canadian mineral exploration company focused on the acquisition, exploration and, if warranted, development of natural resource properties of merit in Canada.
The CSE has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE Genius Metals Inc.
For further information: Guy Goulet, President and CEO, Tel.: 579 476-7000, Email: [email protected]