Genesis commences drill program at Chevrier Gold Project
Genesis Metals Corp has commenced Phase II of the previously announced staged minimum 8,000 metre fully-funded 2020 diamond drilling program at its Chevrier Gold Project in the eastern Abitibi Greenstone Belt of Central Quebec.
The current phase of drilling is expected to comprise a minimum of 5,500 metres in approximately 24 holes. Drilling targets include:
1) Continued definition and volume expansion of higher-grade domains which form plunging "shoots" within the Chevrier Main deposit. Drilling will build on the success of the 2,502 metre Phase I 2020 drilling program that achieved multiple high-grade gold intercepts in the southwestern sector of the Chevrier Main deposit (June 2 and July 7, 2020 News Releases)
2) Step-out holes on high-grade intercepts from historical drilling outside of the Chevrier Main deposit
3) Test of down plunge projection of the southwest Chevrier Main high-grade shoot to depth below current pit shell with one
or more deeper holes
4) Initial test of the previously undrilled area 800 metres northeast (up-ice) of till anomaly #3 where a cluster of prospecting grab samples from 2017 with assays including 17.8 g/t gold, 10.8 g/t gold, 3.5 g/t gold and 1.94 g/t gold were reported in the Company's June 24, 2020 News Release (map). This area lies along the projection of the Fancamp Deformation Zone envelope and has been the focus of follow-up surface mapping and sampling this summer
5) Once all results from the summer surface exploration program are received and interpreted, additional drilling may target an area along the eastern strike projection of the East Zone deposit (till anomalies #1 and #2 - map)
Miikan Drilling Inc. has been contracted to carry out the drilling program.
The +290 square kilometer road accessible Chevrier property covers a 15-kilometer extent of the Fancamp Deformation Zone, along which zones of gold mineralization are associated with high strain zones in predominantly mafic volcanic and sub-volcanic rocks. The property is contiguous with the high-grade Monster Lake gold project and 20 kilometers northeast of the new IAMGOLD Corporation/Vanstar Mining Resources Inc. 3.1 Moz Nelligan gold discovery. For additional details on the Chevrier Project, 2019 results and plans for 2020 please refer to the Company's website.
Genesis Metals Corp. is a member of Discovery Group, an alliance of public companies focused on the advancement of mineral exploration and mining projects with a proven track 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 M&A 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., Elemental Royalties Corp., and K2 Gold Corporation.
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