2022-06-22 05:26:05
MONTREAL, June 22, 2022 /CNW Telbec/ – Genius Metals Inc. (TSXV: GENI) (“Genius Metals” or the “Company”) is pleased to announce a new summer exploration program on the Sakami property located in James-Bay Territory, Quebec and provides an update on its past winter exploration program.
Summer 2022 Exploration Program
The company is currently implementing Phase I of its summer exploration program on the Sakami property consisting of detailed investigation on the newly acquired claims in the basement rocks of the Archean Langelier Complex. A crew composed of geologists and technicians were mobilised for a three-week period. The objective of this first phase of exploration is to expand and unearth gold mineralization through geological and structural mapping, rock and channel sampling and collection of till material. The latter survey will be realized on the volcanosedimentary assemblages south of the Langelier Complex.
The second phase of exploration involves a 2,000 m to 3,000 m exploratory drilling program which will focus on the metavolcanic assemblages located around the GoldenEye prospect but will also investigate other targets provided by the results of the first phase of exploration.
Update on the 2022 Winter Exploration Program
The Company achieved its objectives during the 2022 winter by completing an IP survey on a newly implemented 4 km grid west of the GoldenEye prospect and conducting exploration drilling on the Trans-Taiga showing. The IP survey defined a 3.6 km long NE/SW-oriented high chargeability corridor extending the previous anomalies observed at GoldenEye. Exploration drilling completed in 2021 at the SW limit of the chargeability survey has already demonstrated the gold potential of the Golden Eye eastern zone with intersections of 1.45 g/t Au over 6.0 m and 2.53 g/t Au over 1.50 m (accompanying surface grab samples (0.64 to 2.55 g/t Au) and channel samples; the latter yielding 1.02 g/t Au over 4.1 m and 0.67 g/t Au over 2.00 m (see press releases dated November 10, 2021 and November 3, 2020).
In parallel, the drilling realized during winter on the Trans-Taïga showing could not replicate the gold values obtained at surface through channel sampling.
Qualified Person
The technical information contained in this news release was reviewed and approved by Michel Boily, Ph.D., P. Geo, qualified person under NI 43-101.
About Genius Metals
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.
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 using 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, including the expectations of the Corporation’s management regarding the listing of its shares on the TSXV and delisting from the CSE, are based on the Corporation’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.
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