Gold exploration company Genesis Metals Corp. (TSXV:GIS) (OTCQB:GGISF) announced Wednesday that it has commenced a staged surface exploration program at its Chevrier gold project in the prolific Abitibi Greenstone Belt in Quebec.
The initial phase of the surface exploration program, which will be executed in the coming months, involves follow-up till sampling grids and detailed soil grids to refine the priority targets identified at the project during the 2019 glacial till survey. The program will also include surface prospecting, sampling, and geological mapping, as well as the use of geophysical tools, such as detailed drone/helicopter magnetic surveys. The aim of this work is to delineate discrete gold targets for trenching and drill testing later in the year.
The compilation work carried out at the Chevrier gold project over the past several months identified an area that was sampled in 2017 along a powerline that is 800 meters northeast of till anomaly #3, with a cluster of prospecting grab samples with assays including 17.8 grams per ton (g/t) gold, 10.8 g/t gold, 3.5 g/t gold and 1.94 g/t gold. This new area is close to the projection of the Fancamp Deformation Zone and will be one of the focuses of the follow-up work during the surface program.
Genesis Metals Continues to Advance Exploration in Abitibi
Genesis Metals’ Chevrier gold project is located in the prolific Abitibi Greenstone Belt, a 450-kilometer-long and 150-kilometer-wide gold-endowed belt that spans across the Ontario-Quebec border. The area has proven to be one of the world’s most gold-endowed regions, yielding 180 million ounces of gold (more than 5,100 tonnes) since the first mining camps were discovered in the early 1900s. Genesis Metals acquired the Chevrier gold project in 2016 and has been developing the project ever since.
Last month, Genesis Metals completed the Phase I drilling program at its Chevrier gold project, with a total of 2,502 meters in nine holes drilled. Results from holes GM-20-59 to 62 were reported by the Company on June 2, 2020, while the results for holes GM-20-63 to 67 are pending.
The company said that it plans to launch a second-phase drilling program once all assays from the current program are received and evaluated and are fully funded for all of its planned work in 2020.
In March 2019, Genesis released updated mineral resource estimates for Chevrier, which includes 395,000 ounces of gold averaging 1.45 g/t Au in the Indicated Resource category and 297,000 ounces of gold averaging 1.33 g/t Au in the Inferred Resource category. On top of that, the Chevrier gold project also has excellent infrastructure, access, a skilled labor force, and support from local communities and First Nations.
The Chevrier property covers a 15-kilometer segment of the Fancamp Deformation Zone, along zones of gold mineralization associated with high-strain zones in predominantly mafic volcanic rocks. The Chevrier gold project is contiguous with the high-grade Monster Lake gold project, a joint venture between IAMGOLD Corporation (NYSE:IAG) (TSX:IMG) and Tomagold Corporation, and 20 kilometers northeast of IAMGOLD Corp and Vanstar Mining Resources’ 3.1 Moz Nelligan gold discovery.
Featured image: Genesis Metals
