Vancouver, British Columbia--(Newsfile Corp. - December 12, 2017) - Genesis Metals Corp (TSXV:GIS) ("Genesis" or the "Company") is pleased to announce the completion of the second phase of drilling at the Chevrier gold project (the "Project") near Chibougamau, Quebec.
Highlights of Drilling Program
- A total of 32 holes (5254 m) were completed in this phase.
- 18 holes within the Main Zone were designed to validate historic drilling previously completed in this mineralized area.
- The remaining 14 holes were designed to evaluate the source of anomalous Induced Polarization ("IP") responses. These responses are in three targets areas, extending for more than 1.5 km and located 5 km north of the Main Zone.
- Several holes were drilled to evaluate the potential for continuity of gold mineralization below the alteration zone previously discovered in Trench 29 (see the news release of the Company dated October 3, 2017) located approximately 5 km north of the Main Zone.
Preliminary Observations
Readers are cautioned that the following information is based only on field observations and that final results will be subject to further interpretation of geology and assays.
- All holes within the Main Zone intersected intervals typified by shearing, quartz veining, sulphides and ankerite alteration. The Company notes that these attributes are consistent with those intervals of previously assayed core that have encountered gold mineralization.
- Holes drilled to test IP targets 5 km north of the Main Zone intersected a felsic unit characteristic of VMS alteration with semi-massive pyrite and sphalerite. Several holes hit shear zones containing quartz veining, ankerite, tourmaline, axinite and pyrite.
- In the area of Trench 29, 5 km north of the Main Zone, holes GM-17-27 to GM-17-30 intersected shear zones containing quartz, ankerite and pyrite. All intersections display similar carbonate zonation, alteration, host rocks and mineralization style to those of the auriferous system in the Main Zone.
The Company anticipates receiving all assays from this phase of drilling in early 2018.
Mr. Andre Liboiron, P. Geo, Exploration Manager for the Company and the Qualified Person as defined within National Instrument 43-101 for the Chevrier Project, has reviewed the contents of this news release.
About Genesis Metals
The Company is focused on advancing the Chevrier Gold Project located 35 km southwest of Chibougamau, Quebec. The Project is located along the Fancamp Deformation Zone, 15 km northeast of the high-grade Monster Lake gold discovery and 15 km northwest of the past producing Joe Mann gold mine.
Genesis also owns 100% the 203 km2 October Gold project located in the southern Swayze greenstone belt in Benton Township, Ontario. This project is located 35 km northwest of IAMGold and Sumitomo Mining's Cote Lake deposit and 50km southeast of Goldcorp's Borden gold deposit.
