Genius Metals announces up to 13 g/t Au, 266 g/t Ag, 0.47% Cu,19.2% Zn and 5.6 % Pb from grab samples collected in a shear zone on its Sakami Property
MONTRÉAL, QUÉBEC, CANADA — (September 16, 2020) – Genius Metals Inc. (CSE: GENI) (“Genius Metals” or the “Corporation”) is pleased to announce the results of the first phase of its 2020 exploration program on its Sakami property located in the James Bay Territory, Quebec.
Field work conducted during the month of August identified two important prospective zones:
- The Lamarche Sector, a 500 x 350 m shear zone/deformation corridor was uncovered at the core of the property (Figure 2). The shear contains rusted high-strained altered (chlorite-quartz veinlets) zones of fine-grained chlorite-biotite metasediments including garnet, carbonates and veins and/or disseminated pyrite, pyrrhotite, chalcopyrite, sphalerite, and galena. Analyses performed on grab samples* yielded a value of 13 g/t Au with others ranging from 0.8 to 1.8 g/t Au. These are accompanied by silver and base metals concentrations varying from 39-266 g/t Ag, 0.47 % Cu, 1.0-19.2 % Zn and 0.80-5.56 % Pb. It is postulated the mineralized corridor extends at least 1 km striking 192° and dipping steeply to the NW (Figures 1, 2).
- A second sector (700 x100 m), designated Golden Eye, is oriented NE-SW and exposed near a tonalitic pluton. The sector revealed an interstratification of strongly altered, mineralized, and deformed (mylonitized) metavolcanic rocks and iron formation layers showing several grab samples* with gold values ranging from 0.64 to 2.55 g/t Au (Figures 1, 3).
Genius Metals is currently conducting the second phase of exploration on the Sakami property involving detailed mapping of these prospective zones and surrounding areas, overburden stripping and channel sampling. The goal is to generate drilling targets by the end of the fall season.
Guy Goulet, president and CEO of Genius Metals Inc. declares: «We are very encouraged by the high gold values reported from the preliminary exploration campaign. This is one of the rare properties that has never been drilled in the Sakami Lake area. A field crew is currently conducting overburden stripping and trenching around the discoveries which should lead to an exciting drilling campaign this fall ».
The Lamarche Sector is now the most prospective area on the property. We dedicated it in memory of Luc Lamarche, a geologist who passed away earlier this year, and who was a pioneer exploring the Sakami Lake area.
*Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
The technical and scientific content of this release has been reviewed and approved by Michel Boily, PhD, P. Geo, VP Exploration for Genius and Qualified Person (QP) as defined by NI 43-101.
Quality Assurance and Quality Control (QA/QC)
Genius metals implemented a strict QA/QC protocol in processing all rock samples collected from the Sakami property. The protocol included the insertion and monitoring of appropriate reference materials, in this case certified gold standards, blanks and duplicates, to validate the accuracy and precision of the assay results. All collected rock samples were put in sturdy plastic bags, tagged, and sealed in the field under the supervision of professional geologists. The sample bags were then put in rice pouches and kept securely in a field tent before being sent by truck for preparation and analysis to the Actlabs laboratories in Timmins, Ontario. All samples were analyzed using the Aqua regia ICP-EOS method for 38 elements. Samples having contents > 10 000 ppm Cu; > 10 000 ppm Zn; > 5000 ppm Pb; > 100 ppm Ag were re-analyzed by the Code-8 method (aqua regia). Gold assays were determined by Fire Assay with an atomic absorption finish (method 1A2B AA). Samples having gold concentrations > 10 ppm Au were re-analyzed with the 1A3-50 method (pyro-analysis with a gravimetric finish).
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.
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, including the expectations of the Corporation’s management regarding the use of proceeds of the Private Placement, 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.
Genius Metals Inc.
Pierre-Olivier Goulet, Vice-President Corporate Development
Guy Goulet, President & CEO