Vancouver, British Columbia--(Newsfile Corp. - February 19, 2019) - Genesis Metals Corp. (TSXV: GIS) ("Genesis" or the "Company") today announced that Genesis has engaged Vector Geological Solutions to aid in targeting of opportunities for resource expansion and new discoveries at Chevrier.
Dr. Robert Carpenter, Strategic Advisor, (See Genesis news release November 21, 2018) in collaboration with Daniel MacNeil and Dr. Alan Wainwright of Vector Geological Solutions, will be targeting new exploration opportunities on the Chevrier land position, near Chibougamau, Quebec. This highly accomplished team has extensive international gold and base metal exploration experience, and a track record of discoveries.
The team is applying modern gold exploration targeting methods to over 100 years of historical exploration data from the existing Chevrier gold deposits, as well as the greater 130 square kilometer contiguous claim block. The objective is to increase the grade and tonnage of the known deposits, and find new, high-grade gold deposits elsewhere on the highly prospective property.
Dr. Robert Carpenter has 25+ years of technical and executive experience for junior and major mining companies. He was co-founder, President and CEO of Kaminak Gold Corp. from 2005 to 2013, and led the company through the acquisition, discovery and maiden resource of the multi-million ounce Coffee Gold Project (Yukon).
Mr. MacNeil is a precious and base metal specialist with 18+ years of experience from continental-scale project generation to in-mine resource expansion in a wide variety of geological settings throughout the Americas and Europe. Dan currently consults with mid-tier, private and junior mining/exploration companies on property evaluations and drill targeting, globally.
Dr. Wainwright is an economic geologist with 20+ years of mineral exploration and research experience in North America, South America, Europe and Asia, focused on base metals and gold. Alan, along with Dr. Carpenter, was a co-recipient of the H.H. "Spud" Huestis Award (AME BC; 2013) for his role in the Coffee gold discovery in Yukon Territory (Kaminak Gold Corp).
About Genesis Metals
The Company is focused on advancing the Chevrier Gold Project located 35 km southwest of Chibougamau, Quebec. On February 6, 2019, Genesis announced a new resource estimate for Chevrier: 423,000 ounces Indicated at 1.22 g/t gold and 303,000 ounces Inferred at 1.27 g/t gold.* Chevrier is located along the Fancamp Deformation Zone, 15 km northeast of the high-grade Monster Lake gold deposit and 15 km northwest of the past producing high-grade 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.
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*Both Indicated and Inferred categories comprise pit constrained and underground components with cut-off grades of 0.3 g/t Au and 0.95 g/t Au respectively. (previously disclosed in a Company news release dated February 6th, 2019)
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. The CIM definitions were followed for the classification of Indicated and Inferred Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated Mineral Resource category.
Certain disclosure in this release, including statements regarding the intended use of proceeds from the private placement, constitute forward-looking information or statements (collectively, "forward-looking statements") for the purpose of applicable securities laws. In making the forward-looking statements, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration and development activities, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the Company will be unable to obtain required regulatory approvals on a timely basis or at all, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.