Genius Metals announces the beginning of a prospecting campaign following the positive results of the VTEM Survey completed on its A-Lake Cu-Sn-Zn Property in New Brunswick
MONTREAL, September 26, 2019 (CNW) – Genius Metals Inc. (“Genius”) (CSE:GENI) is pleased to report positive results related to the helicopter-borne electromagnetic (“VTEM”) survey of the A-Lake Cu-Sn-Zn Property in New Brunswick (Canada) and announces it will follow-up these encouraging results with a prospecting campaign. The company has entered into an option agreement with Atlantic Vanadium Corporation (“AVC”) to acquire 100% of the property. Please refer to the press release of February 14, 2019 for the terms of the option.
As Previously announced on July 9, 2019, Genius Metals has completed a VTEM survey (including radiometric, MAG and EM) which was flown over part of the A Lake property by Geotech Ltd. The preliminary results indicate magnetic signatures defining different units and contacts in the Mount Douglas Granite and probably the presence of a NS-oriented structure which could potentially represent a geological fault. The radiometric component detected high Th, U, K equivalent concentrations in till material and highly differentiated granitic units of the Mount Douglas Granite. Several of those anomalies coincide with the location of Cu, Zn, Pb +Ag mineralized granitic samples, mostly floats, collected during the 2018 due diligence campaign (see February 14, 2019 press release). Preliminary results from a till campaign suggest that the anomalous concentrations of radioactive elements are also accompanied by anomalous values of base metals content.
The company intends to appropriate a $50,000 budget in exploration work by the end of the year to perform a till survey on the most promising target areas detected by the VTEM survey. The till survey will be followed by overburden stripping and rock sampling.
About the A-Lake Property
The A-Lake property is located in southern New Brunswick within the Charlotte County, NTS map 21G07. It consists of seven claims containing 118 units covering 28.6 km2. The mineralization is found within the Late Devonian Mount Douglas Granite (MDG) units hosting endogranitic granophile element Sn-, Mo-, Zn-, Bi and U greisen/sheeted veins.
The technical contents of this release were approved by Michel Boily, PhD, geo; a Qualified Person (QP) as defined by National Instrument 43-101.
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.
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Goulet, President and CEO
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