VANCOUVER, BC --(Marketwired - September 07, 2016) - Genesis Metals Corp (TSX VENTURE: GIS) ("Genesis" or the "Company") is pleased to provide an update on work programs for the Chevrier gold project (the "Project") near Chibougamau, Quebec.
Highlights of Work Plans
Field activities now underway comprise three elements:
- Trenching program is now underway. Three trenches, excavated in 1996, are being drained to allow more detailed sampling of bedrock. In addition, three new trenches in areas considered by the Company to be prospective for gold mineralization will also be completed.
- Re-logging and re-sampling of selected available drill core from previous exploration work completed on the Project is progressing. Approximately 550 samples will be collected from mineralized intervals from 17 holes. The focus of this work will be to establish a consistent description of rock lithologies that host gold mineralization and to confirm the veracity and accuracy of assays from previous work on the Project using current QA/QC protocols. This work will aid in the understanding of the controls to gold mineralization at Chevrier.
- Compilation of all available exploration data is seen as leading to the identification and ranking of new targets within the 96 km2 Chevrier Project.
The Company anticipates that the core re-logging and trenching will be completed by the end of September, followed by the receipt of initial assay results in October. The results from these activities will help to define targets for a drilling program planned for early 2017.
More information on the Chevrier Gold Project can be reviewed at www.genesismetalscorp.com
Mr Andre Liboiron, P. Geo, 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
The Company is focused on advancing the Chevrier Gold Project located 35 km southwest of Chibougamau, Quebec. The Project is located along the Fancamp Deformation Zone, 15 km northwest of the high-grade Monster Lake gold discovery.
Genesis also owns 100% the 203 km2 October Gold project located in the southern Swayze greenstone belt in Benton Township, Ontario. This project is located 35 km northwest of IAMGold's Cote Lake deposit and 50km southeast of Goldcorp's Borden gold deposit.
ON BEHALF OF THE BOARD
CEO and Director
Executive Vice-President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain disclosure in this release, including statements regarding the intended use of proceeds from the private placement, constitute forward-looking information or statements (collectively, "forward-looking statements") for the purpose of applicable securities laws. In making the forward-looking statements, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration and development activities, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the Company will be unable to obtain required regulatory approvals on a timely basis or at all, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.