Genius Metals Receives Drill Core Assays and Identifies Au, Zn, Pb, Ag Structure on Sakami
MONTRÉAL, QUÉBEC, CANADA — (November 10, 2021) – Genius Metals Inc. (TSX.V: GENI) (“Genius Metals” or the “Corporation”) is pleased to announce the results of its maiden drilling campaign completed on the Sakami property in the James Bay Territory. The main objective was to investigate the extent of gold mineralization discovered by grab and channel sampling on the Lamarche and Golden Eye prospects. A total of 17 holes were collared on property generating 2,568 m of core material. Results of the seven holes drilled on the Golden Eye prospect returned intersections of 1.45 g/t Au over 6.0 m and 0.27 g/t Au over 7.7 m (SAK-21-10); 0.43 g/t Au over 2.7 m; (SAK-21-11), 2.53 g/t Au over 1.50 m (SAK-21-12) and 0.78 g/t Au sur 0.7 m (SAK-21-16) (Table 1). The mineralized zone is shallow with apparent depths of 11 to 51 m, extends along a NE-SW strike for 410 m and is open to the SW (Figure 1). Data from the seven holes collared on the Lamarche prospect generated 45 g/t Ag over 3.7 m and including an interval of 1.17 g/t Au, 209 g/t Ag and 1.69 % Zn over 0.50 (SAK-21-03) and 0.28 g/t Au and 0.64 % Zn over 4.6 m (SAK-21-08). The Lamarche prospect was found to be Zn and Pb-rich.
Previous exploration work on Lamarche yielded a value of 13 g/t Au with others ranging from 0.8 to 6.1 g/t Au. These were accompanied by silver and base metals concentrations varying from 39-712 g/t Ag, 1.0-19.2 % Zn and 0.80-5.56 % Pb. Golden Eye revealed strongly altered, mineralized, and deformed (mylonitized) metavolcanic rocks and iron formations with gold values ranging from 0.64 to 3.1 g/t Au (Genius Metals PR, Sept. 16, and Nov. 3, 2020). The association of gold with Ag and other base metals at Sakami suggests an affinity with the polymetallic mineralization occurring in volcanosedimentary assemblages hosting the La Garnde Sud tonalite 11 km to the NE.
|DDH||From (m)||To (m)||Length (m)||Au (g/t)||Zn (wt.%)||Ag (g/t)|
Table 1. Significant assay results for the drillcore from the Sakami 2021 drilling campaign, James Bay Territory.
Figure 1. Carte de contour de chargeabilité montrant les résultats de la campagne de sondage effectuée en 2021 par les Métaux Genius sur le prospect de Golden Eye, propriété Sakami.
Click here to view the core samples
Guy Goulet, president and CEO of Genius Metals affirms “The first preliminary results of our maiden drilling campaign at Sakami reveals the importance and extent of the polymetallic mineralization while advancing the knowledge of the process leading to Au, Ag and Zn enrichment in metasediment and metavolcanic rocks. Therefore, the first assay results from this campaign confirms the precious metal potential of the Sakami property and will serve as a guide for future exploration work. The company is well funded to pursue another great year of exploration on Sakami in 2022”
Quality Assurance and Quality Control (QA/QC)
Genius Metals implemented a strict QA/QC protocol in processing all core 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 ALS Minerals laboratories in Val d’Or, QC. All samples were analyzed using the ME-ICP41 package (Aqua regia with AA finish) for 35 elements. Samples having contents > 10 000 ppm Zn and > 100 ppm Ag were re-analyzed by OG-46 method (4 acids). Gold assays were determined by Fire Assay with an atomic absorption finish (method Au-AA24).
The technical information contained in this news release was reviewed and approved by Michel Boily, Ph.D., P. Geo, qualified person under NI 43-101.
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.
Genius Metals Inc., Tel.: 579-476-7000
Pierre-Olivier Goulet, Vice-President Corporate Development
President and CEO
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 listing of its shares on the TSXV and delisting from the CSE, 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.