Mr. Guy Goulet reports
GENIUS PROPERTIES ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT AND INITIATE EXPLORATION WORK ON ITS MEAGHERS PROPERTY
Genius Properties Ltd. has filed (on SEDAR) a National Instrument 43-101 technical report for its Meaghers property (located in Nova Scotia) and has initiated exploration on it.
The technical report entitled, "The Meaghers Property, Halifax County, Nova Scotia Canada, NTS 11D/14D," and dated July 21, 2018, was prepared in accordance with NI 43-101 -- Standards of Disclosure for Mineral Projects, and can be found under the company's profile on SEDAR. The technical report was independently prepared by Dr. Michel Boily, PhD, PGeo, of Montreal, Que.
The exploration of the Meaghers property represents an opportunity to evaluate the gold potential of a relatively unknown territory located within 6.7 kilometres from Atlantic Gold's Touquoy mine (total measured and indicated reserves at Touquoy of 10.1 million tonnes at 1.48 grams per tonne gold (479,000 ounces)). The property reveals similar geological and structural characteristics to the Touquoy mine, such as exposures of the gold-bearing Goldenville formation, the presence of warped and folded anticlines, and a comparable magnetic signature.
The Meaghers property is located in south-central Nova Scotia within the Halifax county (39 kilometres northeast from the Halifax-Dartmouth conglomeration). The property consists of a continuous block of seven licences, 100 per cent owned by Genius Properties, comprising 243 claims and covering 3,934 hectares. Access from Halifax-Dartmouth urban centre to the western end of the property is by a paved road system, whereas several secondary roads crisscross the entire Meaghers property.
Exploration program
Starting in mid-July, Genius began exploration work on Meaghers. The work consisted of prospecting, geological mapping and rock sampling to generate exploration targets on which to focus more detailed work, such as channel sampling, trenching and geophysics. Genius geologists visited the core library of the geosciences and mines branch in Stellarton (Nova Scotia). They were given access to the core boxes from the Getty Mines 1973 to 1976 drilling campaigns carried out within the southwestern part of the Meaghers property. Most of the core material has never been split and it is the intention of the company to analyze it for gold (and other base metals).
Dr. Boily, PGeo, is the qualified person under NI 43-101. Dr. Boily has reviewed and approved the technical information contained in this document.
Merger between Genius Properties and Cerro de Pasco Resources SA
On Aug. 3, 2018, the shareholders approved the acquisition by Genius Properties of all the issued and outstanding shares of Cerro de Pasco Resources on the terms, and subject to the conditions, set out in a merger agreement dated Nov. 9, 2017, as amended on Feb. 28, 2018.
Genius Properties expects to close the transaction with Cerro de Pasco Resources on Aug. 31, 2018, and, therefore, to proceed with the change of name, the spinoff and the distribution of SpinCo shares to its shareholders.
The record date for such distribution will be Aug. 30, 2018, being one day prior to the anticipated date of closing with Cerro de Pasco Resources.
About Genius Properties Ltd.
Genius Properties is a Canadian mineral exploration company focused on developing projects with some of the world's most critical metals and minerals.
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