Mr. Brian Groves reports
GENESIS DRILLING RETURNS 8.73 G/T GOLD OVER 21.35 M FROM CHEVRIER MAIN ZONE
Genesis Metals Corp. has released results from the second phase of drilling completed at the Chevrier gold project near Chibougamau, Que.
Highlights from main zone:
8.73 grams per tonne gold over 21.35 metres including 37.97 g/t Au over 3.00 m in hole GM-17-42;3.59 g/t Au over 22.60 m in a separate zone in hole GM-17-42;4.26 g/t Au over 19.40 m including 8.99 g/t Au over 7.80 m in hole GM-17-48;4.47 g/t Au over 12.45 m within an interval of 1.08 g/t Au over 84.85 m in hole GM-17-46;5.06 g/t Au over 8.45 m and 1.23 g/t Au over 43.00 m in two intervals in hole GM-17-41;4.53 g/t Au over 13.80 m in hole GM-17-441.04 g/t Au over 50.05 m including 1.94 g/t Au.
Brian Groves, chief executive officer of Genesis, commented: "We are very pleased with these new results as they now appear to define a near-surface zone of higher-grade with the potential for expansion at depth. We will now focus on refining our geological model for the main zone as we work towards an updated global resource for Chevrier in 2018."
Discussion of results:
Holes GM-17-45 and GM-17-46 were drilled to test for extensions to hole GM-17-09 (2.94 g/t Au over 37.40 m -- previously reported in company news release dated Oct. 3, 2017). This drilling has identified a new northeast-trending shallow extension of mineralization encountered in hole GM-17-09. Similarly, the results from holes GM-17-41 and GM-17-44 define a new deeper southwest extension of the mineralization encountered in GM-17-09. This large and well-mineralized zone now appears to be defined over a distance of more than 300 m. This zone is a priority for geological modelling. The results from the highlighted holes above would suggest an area of shallow higher-grade mineralization has been defined and still remains open at depth in the southern part of the main zone. The majority of mineralized intercepts reported herein are less than 150 m depth.All 18 holes drilled into the main zone intersected mineralization with only one hole returning gold grades of less than one g/t.More significant drill results are shown in the associated table.
Drill hole FromTo Core lengthAu grade(m) (m) (m) (g/t)GM-17-41 108.25 116.78.455.06GM-17-41 127.75170.75431.23GM-17-41 including 151.25155.45 4.26.43GM-17-42 13.43622.63.59GM-17-42 4448 40.85GM-17-42 107.45 128.8 21.358.73GM-17-42including 110 113 3 37.97GM-17-43109.3 111.6 2.30.35GM-17-43130.9 134.6 3.71.17GM-17-43148.4 152.3 3.91.15GM-17-43168.8 169.1 0.36.69GM-17-44 109.05 159.1 50.051.04GM-17-44 including 109.05 119.4 10.351.37GM-17-44including 142 159.117.11.94GM-17-44203 216.813.84.53GM-17-45 35.498.463 0.5GM-17-45 including 35.437.3 1.92.47GM-17-45 including 4552.6 7.60.47GM-17-45including 66.15 70.75 4.61.07GM-17-45 including 79.985.4 5.50.39GM-17-45 including 79.998.418.50.85GM-17-45 90.6 100.910.31.38GM-17-4619.35 104.2 84.851.08GM-17-46including 19.3531.8 12.454.47GM-17-46 including 20.328.2 7.9 6.4GM-17-46 including 39.549.4 9.92.52GM-17-46 including 41.346 4.74.47GM-17-46 including 55.5 59.153.650.63GM-17-46including 64.6565.71.052.22GM-17-46 including 89.392.3 30.23GM-17-46 including 99.2 104.2 50.98GM-17-47 3134.6 3.60.97GM-17-47 4346 30.65GM-17-47 69.378.8 9.50.91GM-17-48 51.859.8 80.62GM-17-4867.35 86.7519.44.26GM-17-48 including 72.680.4 7.88.99Note Mineralized intervals were determined using a 0.5 g/t Au cut-off and are length- weighted averages of the gold values (samples under the limit of detection (five parts per billion gold) are reported to half of the detection limit (2.5 ppb) for composites). True width is estimated to be approximately 65 per cent of the indicated core lengths.
Future plans
The company has identified key controls to gold mineralization within the main zone. Gold essentially correlates with higher percentages of veins which are themselves hosted in a larger sheared zone characterized by mylonitic texture and strong ankerite-fuchsite-tourmaline-silica alteration.
Using these recently identified criteria company geologists are focusing on the completion of updated models for gold grade distribution within the main zone. Those models will be integral components for a revised global resource estimate due to be completed in 2018.
Other information
Additional information including main zone drilling cross-sections, a map showing locations of the 18 holes within the main zone and complete results from all drilling (including results from holes drilled in an area five kilometres north of the main zone) are available on the company's website.
Andre Liboiron, PGeo, exploration manager for the company and the qualified person as defined within National Instrument 43-101 for the Chevrier project, has reviewed the contents of this news release.
Quality control and quality assurance (QA/QC)
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, Ont. (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 five g/t Au.
Andre Liboiron, PGeo, exploration manager for the company and the qualified person as defined within National Instrument 43-101 for the Chevrier project, has reviewed the contents of this news release.
About Genesis Metals Corp.
The company is focused on advancing the Chevrier gold project located 35 km southwest of Chibougamau, Que. The project is located along the Fancamp deformation zone, 15 km northeast of the high-grade Monster Lake gold discovery and 15 km northwest of the past-producing Joe Mann gold mine.
Genesis also owns 100 per cent of the 203-square-kilometre October gold project located in the southern Swayze greenstone belt in Benton township, Ontario. This project is located 35 km northwest of Iamgold and Sumitomo Mining's Cote Lake deposit and 50 km southeast of Goldcorp's Borden gold deposit.
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