Meaghers Gold Property
The Meaghers gold property holds six mineral licenses totaling 100 claims across 1,620 hectares in South-Central Nova Scotia. Strategic positioning places Meaghers less than ten kilometers from St. Barbara’s Touquoy mine, which hosts a total measured and indicated reserves of 10.1 million tonnes of gold grading at 1.48 g/t gold.
The property reveals similar geological and structural characteristics of the Touquoy mine, such as exposures of the gold-bearing Goldenville Formation, the presence of warped and folded anticlines and a comparable magnetic signature. Meaghers also reveal gold-arsenic prospects and a discrete magnetic anomaly associated with the St-Barbara Four Gold mines. This discovery suggests potential widespread mineralization across the property.
On December 4, 2019, Genius Metals entered into an option agreement with MegumaGold Corp., whereby MegumaGold has the option to earn a 70 percent interest in the Meaghers property. The agreement covers 70 percent interest in six Genius Metals mineral exploration licenses totaling 100 claims across 1,620 hectares.