Genesis Metals Completes Phase 2 Drill Programs at Chevrier
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.
ON BEHALF OF THE BOARD
"Brian Groves"
Brian Groves
CEO and Director
"Jeff Sundar"
Jeff Sundar
President and Director
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-646-8356 Fax: 604-484-7155
Email: js@genesismetalscorp.com
Website: www.genesismetalscorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
