MONTREAL, July 9, 2019 (CNW) – Genius Metals Inc. (“Genius”) (CSE:GENI) is pleased to report that a helicopter-borne time-domain electromagnetic (“VTEM”) survey will be commenced shortly on the A-Lake Cu-Sn-Zn Property located in New Brunswick (Canada) which is the subject of a one hundred percent earn-in option agreement between Genius and Atlantic Vanadium Corporation (“AVC”).
The purpose of the survey is to follow-up the discovery of significant base metals (Cu, Zn, Pb) and anomalous Sn, Mo, Bi and Ag assay values obtained from granitic samples collected from boulder trains and trenches in the vicinity of A-Lake, Caribou Lake and East Long Lake during the 2018 fall campaign (see press release issued February 14th 2019). The VTEM-plus survey will be carried by Geotech Ltd. Additionally Genius has received a $30,000 grant from the New Brunswick Junior Mining Assistance Programme for the completion of the VTEM survey.
The A-Lake property is located in southern New Brunswick within the Charlotte County, NTS map 21G07. It consists of seven claims (8866, 8840, 8864, 8896, 8897, 8900 and 9173) containing 118 units covering 28.6 km2. The mineralization is found within the Late Devonian Mount Douglas Granite units hosting endogranitic granophile element Sn-, Mo-, Zn-, Bi and U greisen/sheeted veins. The claims are located < 20 km from the W-Mo Mount Pleasant deposit associated with hydrothermally porphyritic granites intruding intracaldera Late Devonian volcanic and sedimentary rocks of the Piskahegan Group.
Quebec projects: Update on Sakami and Iserhoff
MAG-IP surveys totaling respectively 25 and 51 linear km have been recently completed on the Iserhoff and Sakami projects. Results obtained from these surveys, in association with historical geological mapping, geochemical sampling and prior drill results, have delineated new drill targets on both of the properties. Genius Metals intends to begin its drilling campaign on Sakami and Iserhoff during the fall of 2019.
Nova Scotia projects: Update on Meaghers
At the Meaghers property, Genius is planning to initiate a diamond-drilling program in the eastern part of the property targeting the southwestern extension of the Moose River-Fifteen Miles anticline particularly its hinge and south limb where gold mineralization is most likely to occur. Structural interpretation has recently been pursued in order to optimize the proposed drilling program.
The Meaghers property is located in South-Central Nova Scotia within the Halifax County, 39 km NE from the Halifax-Dartmouth conglomeration. The property consists of a continuous block of seven licenses, 100% owned by Genius, comprising 243 claims and covering 3934 ha. Access from the Halifax-Dartmouth urban center to the western end of the property is via a paved road system, whereas several secondary roads crisscross the entire Meaghers property.
The property is situated <10 km from Atlantic Gold’s Touquoy Mine (Total Measured and Indicated Reserves at Touquoy: 10.1 Mt @ 1.48 g/t Au (479,000 oz.); Staples et al., 2018). The Meaghers property reveals similar geological and structural characteristics to the Touquoy Mine such as exposures of the gold-bearing Goldenville Formation, the presence of warped and folded anticlines and a comparable magnetic signature.
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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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.
Guy Goulet, President and CEO
For the full press release click here.