Genius Metals Acquires 189 Additional Claims at Sakami and Provides an Update on the Ongoing Drilling Program
MONTREAL, July 22, 2021 /CNW Telbec/ - Genius Metals Inc. (CSE: GENI) ("Genius" or the "Company") is pleased to announce the acquisition of 189 additional claims to its 100%-owned Sakami property located in the James Bay Territory (Quebec), bringing the total land package to 588 claims covering 30,200 hectares (302 km2) (Figure 1). This acquisition was undertaken as a result of the gold assay results obtained on the Trans Taiga showing (1.56-2.53 g/t; Genius Metals PR December 2nd, 2020) occurring within the Langelier gneissic basement complex. Recent investigation by Genius Metals and Harfang Exploration in the Langelier Complex revealed the gold potential of this unexplored terrain of the James Bay area.
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The Company has completed the first four holes of its ongoing (2,000m-3,000m) drilling program largely targeting previous gold and base metal showings associated with magnetic and chargeability anomalies. Initial visual examination of the core reveals base metal intersections and quartz-tourmaline-pyrite veins, the latter being associated with gold mineralization in this geological environment. These four drill-holes are the first-ever to be drilled on the property which extends from the LaGrande Sud mineralized zone (300,000 Oz Au, Non-NI43-101 compliant) owned by Osisko Development Corp. and the Quebec Precious Metals LaPointe gold prospect (more than 42,000m of drilling since 2001).
Cautionary statements:
The mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
The technical contents of this release were approved by Michel Boily, PhD, P. Geo; a Qualified Person (QP) as defined by National Instrument 43-101.
About Genius Metals Inc.
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.
The CSE has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the listing and trading of the Corporation's common shares on the CSE and the availability of a listing statement on the CSE's website and on SEDAR are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE Genius Metals Inc.
Pierre-Olivier Goulet, Vice-President Corporate Development, Tel.: 450 821-5270, Email: [email protected]; Guy Goulet, President and CEO, Tel.: 514 294-7000, Email: [email protected]
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