Genesis Metals has started comprehensive program of surface prospecting and mapping at the Chevrier gold project near Chibougamau, Quebec, Canada.
The main objectives of the current work are to define potential extensions to the gold mineralization within the Chevrier Main Zone and to identify new areas with the potential to host gold. Most field activities will be focused within the Fancamp Deformation Corridor (“FDC”) which is the major structural break controlling the location of gold mineralization within the belt. The FDC extends for more than 15 km across the Chevrier property.
The current work is funded as part of the FIELD-ACTION 2018 initiative co-ordinated jointly by SIDEX and Fonds de solidarité FTQ. This initiative is designed to encourage junior mining companies to perform fieldwork in Québec while at the same time supporting their working capital.
Exploration along the FDC between the Chevrier Main Zone and trench T-29, the latter was completed to evaluate an induced Polarization (“IP”) anomaly. This trench was completed in 2017 and returned 2.55 g/t Au over 2.3 meters. The IP anomaly remains open to the south-west toward the Chevrier Main Zone.
Exploration to the east of East Showing on new claims acquired in 2017 and crosscut by the FDC. The East Showing was explored by Falconbridge Copper in the early 1980’s who reported an historic resource of 180,000 t @ 3.58 g/t Au.
Exploration on new claims acquired in 2017 and 2018 and located on the FDC. These claims host gold showings previously defined by other workers. The 2017 claims are located at the contact with the Muscocho intrusive. The area is overlain by felsic and intermediate volcanic rock and gabbro.
In 2017 the company completed a property-scale compilation of all data for the Chevrier Property and successfully identified 6 new targets in addition to those mentioned in this release. These targets will require additional work to prepare them for further testing by drilling.
The compilation focused on the synthesis of available geological, geochemical, geophysical and structural data generated from all previous exploration work on the Property.
Genesis also announces that the company has granted an aggregate of 650,000 stock options to consultants of the company. Each stock option entitles the holder to purchase one common share of the company at a price of $.10 cents per common share for a period of five years from the grant date.
Quality Control and Quality Assurance
The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the Property. Quality control for field sampling and drill samples at the Company’s projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials.
The QA/QC program also includes data verification procedures. Actlabs in Ancaster, Ontario, Canada (ISO 17025 certification) assayed all rock and core samples from the current field program using fire assay and atomic absorption finish for gold and gravimetric finish if gold grades exceeded 5 g/t Au.
Source: Company Press Release