Genius Metals Obtain Drilling Permit for Lithium381
Genius Metals Inc. has obtained a drilling permit to explore Lithium381 on its James Bay property northern Quebec as part of the company's James Bay Lithium Project.
The property is in the James Bay (Eeyou Istchee) Territory, Quebec, Canada, approximately 3km from the KM381 service station, which serves as an infrastructure for the local area. The 21 mineral claims comprising the 1107 ha property are contiguous to Allkem Limited's James Bay Lithium property which comprises the Allkem lithium mineralization formerly known as Cyr lithium.
According to the James Bay Lithium Mine's 101 Technical Report, Feasibility Study, released in January 2022, the Allkem property has an Indicated Resource of 40.8 Mt @1.40% Li2O. On January 16, 2023, the government of Canada approved the construction of the James Bay Lithium Mine which is expected to operate during a span of 20 years.
''We are eager to start drill testing this high-resistivity target on the Lithium381 property," stated Guy Goulet CEO of Genius Metals. "The surveys recently completed on the property highlight this target within a similar geological setting to the adjacent Allkem James Bay Lithium Project.''
The drilling permit application submitted to Canadian and Quebec governments early in January, 2023 specified the location of 27 drilling pads. Genius Metals and Clarity Metals have established a drilling program focusing on a target interpreted from preliminary results produced by a recently completed IP/Resistivity survey which outlined a 1.5 km EW-oriented area of high resistivity values. Previous surveys conducted by Lithium One in 2008 (predecessor to Galaxy Lithium) and Allkem (2021) have shown high resistivity values which in part correspond to spodumene granitic pegmatite dykes and bodies discovered and drilled previously.
The last geophysical survey completed by TMC Géophysique in 2021 indicated that the resistivity highs extend for 2.3 km east of the Billy Diamond Road (James Bay Road) where spodumene granitic pegmatite dykes were observed.
Genius and Clarity are currently reviewing applications from contractors and working on the logistics related to a maiden drilling program of up to 2,000m.
Genius Metals signed an option agreement with Clarity Metals Corp.(December 6, 2022), which enables CMET to acquire a 50% interest in the Genius Metal's Lithium381 property. To acquire this interest in the property, Clarity must spend $750,000 in exploration work before December 31, 2024, and issue 720,000 common shares of its capital to Genius Metals.
Qualified Person
The technical information in this news release was reviewed and approved by Michel Boily, Ph.D., P. Geo, a qualified person under NI 43-101.
About Genius Metals
Genius Metals is a Canadian mineral exploration company focused on the acquisition, exploration and, if warranted, development of natural resource properties of merit in Canada
For further information:
Pierre-Olivier Goulet, V. President, Corp. Dev. pogoulet@geniusmetals.com, 1-450-821-5270
Guy Goulet, President and CEO, ggoulet@geniusmetals.com, 1-514-294-7000
Tags: Quebec / Green Mining / Battery Metals / All Articles