Genius Metals Acquires Substantial Ground at SAKAMI Prior to its Summer 2020 Exploration Campaign
St-Sauveur, Québec − (CNW – May 27th 2020) – Genius Metals Inc. (CSE:GENI) (“Genius” or the «Company”) is pleased to announce the acquisition and addition of 202 new claims to its Sakami property located in the James Bay area (Québec) prior to its summer 2020 exploration campaign. The Company is also pleased to announce that it has entered into an agreement with Laurentia Exploration to become Genius’ geological consultant for the development of the Sakami Property. With several Laurentia geologists involved in discoveries and development projects in the James Bay region the consulting firm holds an unparalleled experience in the Sakami area.
New Claims Staked
The Company recently added 202 new claims to the already owned 162 Sakami claims bringing the total land package to 364 claims covering 18,726 hectares (187.2 km2). A large contingent of claims includes mafic volcanic rocks and are contiguous to its highly prospective northeastern segment of the property straddling the fault bounded La Grande/Opinaca contact. Other claims located to the southwest, were staked to enclose major structures extending from volcanic lithologies to the 2.8-3.4 billion years Langelier tonalitic complex.
- The structural contact between the Opinaca and La Grande geological sub-provinces in the James Bay area (Québec) is associated with many important gold mineralized zones such as Quebec Precious Metals La Pointe prospect and most notably the Éléonore gold mine operated by Newmont (246k Oz Au produced in 2019 and 1.3m Oz Au reserves as of Dec. 31st, 2019) (Source: Newmont Corp. Annual Report on Form 10-K, February 21, 2020).
- Northeast of the Property, O3 Mining’s La Grande Sud Property hosts substantial gold mineralization within Zone 32 (310,000 Oz Au; non NI43-101 compliant). To the southeast, Quebec Precious Metals is currently running a 25,000m drilling program and has already announced positive results.
- No drill hole has been performed on the recently staked regional fault extending from the deformation zone of the La Grande Sud mineral deposit.
- Over the past two years, Genius Metals has collected several grab samples from the Sakami property containing over 1g/t Au. The gold values are associated with conductance and magnetic anomalies revealed by the recently completed helicopter borne MAG-TDEM survey.
- Genius Metals wishes to implement a comprehensive three-phases exploration campaign on the property. The first phase beginning over the summer 2020 will include geophysics, overburden stripping, geological mapping, and rock sampling. The second phase will involve an initial and small drilling campaign to be carried out during the fall season. The third phase will consist in a larger drilling campaign, to be carried out during the subsequent year.
Pierre-Olivier Goulet, Vice-President Corporate Development of the Company stated: “Genius is extremely pleased to have acquired new ground at Sakami in one of the most prospective gold regions of Québec. The Company is eager to start our 2020 summer exploration campaign. Genius is proud to stand as a leader in the exploration of this undeveloped region and the company will undertake the appropriate technical and financial measures to achieve its goals”.
The mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.
The technical contents of this release were approved by Michel Boily, PhD, P. Geo; a Qualified Person (QP) as defined by National Instrument 43-101.
About Laurentia Exploration
Laurentia Exploration is a firm based in Saguenay, Québec specialized in geoscientific services and advice to mining and exploration companies. Laurentia offers step by step support throughout all aspects of mineral projects.
About Genius Metals Inc.
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.
The CSE has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
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 by the use of 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 regarding the listing and trading of the Corporation’s common shares on the CSE and the availability of a listing statement on the CSE’s website and on SEDAR are based on the Company’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.
Goulet, Vice-President Corporate Development
Tel.: 450 821-5270
Guy Goulet, President & CEO