Mr. Brian Groves reports
GENESIS DEVELOPS A NEW GEOLOGICAL MODEL FOR THE CHEVRIER GOLD PROJECT
Genesis Metals Corp. has provided an update on the results of modelling of gold mineralization within the Main zone at the Chevrier gold project near Chibougamau, Que.
It is the first time after the drilling of 213 drill holes over 29 years that a comprehensive and robust geological model has been developed. This work largely dispels the previous notion that continuity of gold mineralization was lacking.The modelling correlates elevated gold grades with several geological parameters. This new modelling creates a foundation for a revised resource estimate at Chevrier; for which a high level of confidence can be held.
Brian Groves, chief executive officer of Genesis, commented: "Our Quebec-based geological team's exhaustive reinterpretation of the geology and controls to gold mineralization at the Main zone is a quantum advance for this project.
"The new geological work has identified previously unrecognized higher-grade zones as testified by DDH GM-17-42, which intersected 8.73 g/t Au over 21.35 metres from 107.45 to 128.80 metres (previously disclosed in a company news release dated Jan. 22, 2018).These zones were identified at depth, but most encouraging is their extension toward the surface. The revised geological model has also identified subzones with potential to add ounces to the deposit."
Highlights:
The mineralization extends over a currently defined total strike length of more than 1.2 kilometres and shows vertical continuity to a depth of 525 metres.It is still open at depth.The width of mineralized rock package, which comprises several subparallel lenses, is approximately 250 metres.Gold grades are associated with quartz, ankeritie, sericite, pyrite, fuchite and tourmaline alteration. Those alteration minerals are present in both veins/veinlets and host rock.The bulk of gold mineralization is hosted in a gabbro, but is in close proximity to the host rock contact.This is typical of Archean, shear-hosted, orogenic lode gold deposits.The Principal zone consisting of two bodies within the broader mineralized envelope is up to 35.0 metres of true thickness.In addition, several subzones have been identified which have potential for additional resources.
Quality control and quality assurance
The company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the property. Quality control for field sampling and drill samples at the company's projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. Actlabs in Ancaster, Ont., Canada (ISO 17025 certification), assayed all rock and core samples from the current field program using fire assay and atomic absorption finish for gold and gravimetric finish if gold grades exceeded five grams per tonne gold.
Andre Liboiron, PGeo, 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 Corp.
The company is focused on advancing the Chevrier gold project located 35 km southwest of Chibougamau, Que. 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 per cent of the 203-square-kilometre 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 50 km southeast of Goldcorp's Borden gold deposit.
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