Genius Metals to resume exploration work by launching a new prospecting campaign followed by drilling on its Sakami Gold Project in the James Bay Territory
MONTREAL, Oct. 10, 2019 /CNW Telbec/ - Genius Metals Inc. ("Genius") (CSE: GENI) is pleased to report that exploration work has resumed on its Sakami gold project (100% owned by Genius Metals) in the James Bay Territory. The property straddles the contact between the Opinaca and La Grande geological sub-provinces along a 35 km corridor. The Sakami claims are bounded to the south by the Quebec Precious Metals auriferous claims and to the north by the Osisko James Bay SENC gold prospect (325,000 ounces mineral resources).
2019 Prospecting Campaign
Prospecting work to be conducted in October 2019 will focus on the northern Sakami block, where several anomalous zones were identified from the results of geophysical IP and Mag survey conducted last winter by Genius Metals. These zones will be investigated by trenching and collecting channel/grab samples. Areas located northeast of the current geophysical grid will also be prospected by a team of experienced field geologists and a crew of prospectors. The company hopes to discover gold mineralized zones and define new drilling targets.
2019-2020 Drilling Campaign
A drilling campaign is planned for the fall-winter 2019-2020 seasons. The objective is to drill approximately 1,000 meters of core distributed in 7-8 holes targeting the most promising gold sites, some of which will be established from the results of the prospecting campaign.
About the Sakami Gold Property
The Sakami property, located in the James Bay Territory of the Province of Quebec, straddles the contact between the Opinaca and La Grande Archean subprovinces. The gold property consists of 148 claims totaling 76.2 km2. A series of major NE-SW-oriented faults extends 14 km southwest to the Quebec Precious Metals property where significant gold values were recently 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.
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.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the listing and trading of the Corporation's common shares on the CSE and the availability of a listing statement on the CSE's website and on SEDAR are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE Genius Metals Inc.
For further information: Guy Goulet, President and CEO, Tel.: 579 476-7000, Email: [email protected]
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