Vancouver-based Genesis Metals Corp. has updated the resource estimate for its Chevrier gold project 30 km southwest of Chibougamau. Genesis is the 100% owner of the property.
The estimate includes both the main and east zones, the east zone being 10 km northeast of the main zone. The main zone contains indicated resources totaling 10.8 million tonnes grading 1.22 g/t gold for 423,000 oz. of gold. About 90% of the tonnage is recoverable using open pit methods, and the remainder could be recovered with underground development.
Inferred material in the main zone includes 6.3 million tonnes at 1.27 g/t gold for 259,000 oz. The inferred estimate for the east zone is 1.1 million tonnes grading 1.22 g/t gold for 44,000 oz.
(This article originally appeared in the Canadian Mining Journal.)