Mr. David Terryreports
GENESIS METALS COMMENCES EXPLORATION WORK AT OCTOBER GOLD PROJECT, ONTARIO
Genesis Metals Corp. has launched a multifaceted exploration program at its 100-per-cent-owned 26,430-hectare (264.3-square-kilometre) road-accessible October gold project in the Swayze greenstone belt, western Abitibi, Ontario.
In order to advance exploration of the large, prospective and strategically located October gold project, and to evaluate the best tools to define gold targets for drill testing, the company is deploying an array of exploration techniques this fall, including:
Initial geological mapping, prospecting, rock sampling and channel sampling program currently under way; Property-wide LiDAR survey has been completed and is being processed.LiDAR provides accurate three-dimensional topographical representation of the surface below any vegetation; it compliments geological mapping and can resolve bedrock structures that potentially control gold mineralization;Property-wide 15-centimetre-scale aerial photography to produce an up to date and high-resolution ortho-image which will be useful for evaluating access and identifying areas with outcrops; Surficial (Quaternary) geological mapping program under way to estimate overburden depths and resolve appropriate surveys to evaluate key covered areas;Orientation biogeochemical and geochemical survey across the interpreted strike of the Ridout deformation zone to evaluate effectiveness of these techniques;Planning under way for property-wide high-resolution aeromagnetic survey.
"We are excited to commence exploration at the October gold project and are looking forward to evaluating the upcoming results. The variety of surveys being applied this fall/winter on the property will optimize the design of subsequent work campaigns, including potential drill programs," stated David Terry, chief executive officer of Genesis Metals.
The October gold project is located in the southern Swayze greenstone belt in eastern Ontario.This belt segment represents the southwestern extension of the Abitibi greenstone belt, considered to be one of the most well-endowed mineral belts in the world for precious and base metal deposits.Despite being historically underexplored, the property has prospective geology, gold-fertile structural setting and is located in a belt with excellent regional gold endowment.The property covers an approximately 15-kilometre extent of the Ridout deformation zone (RDZ), a major structural break believed to represent the western extension of the renowned Kirkland Lake break.The RDZ is associated with the Cote gold and Jerome gold deposits, 35 and eight kilometres to the southeast of October gold, respectively.These two significant gold exploration and development projects are owned by IAMGOLD Corp. and Sumitomo Metal Mining Co. Ltd.Genesis Metals will be carrying out a multifaceted exploration program over the remainder of 2021 and into 2022 to refine and identify prospective gold targets on the large strategically located October gold property.
The company will continue to monitor the evolving COVID-19 situation and intends to comply with all government directives.Genesis Metals has enacted protocols designed to inhibit the spread of the COVID-19 virus to safeguard the health and safety of local communities and its workforce.
Qualified person
The qualified person for this news release for the purposes of National Instrument 43-101 is Andre Liboiron, PGeo, exploration manager. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
About Genesis Metals Corp.
Genesis is a member of the Discovery Group of Companies, an alliance of public companies focused on the advancement of mineral exploration and mining projects with a proven record of generating shareholder value through responsible, sustainable and innovative development.Discovery Group companies have generated over $500-million in direct and indirect expenditures resulting in over a billion dollars in mergers and acquisitions activity, with notable recent successes being the sale of Northern Empire Resources Corp. to Coeur Mining Inc. and the sale of Kaminak Gold Corp. to Goldcorp Inc.Current Discovery Group member companies include:Great Bear Resources Ltd., Bluestone Resources Inc., ValOre Metals Corp., Ethos Gold Corp., Fireweed Zinc Ltd., Kodiak Copper Corp. and K2 Gold Corp.
Genesis Metals is a gold exploration company focused on advancing its Chevrier and October gold project in the prolific Abitibi region of Ontario and Quebec, Canada.
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