Genesis Metals Commences Geological Modeling at Chevrier
Vancouver, British Columbia – Genesis Metals Corp (TSX-V:GIS) (“Genesis” or the “Company") is pleased to announce that comprehensive modeling of geological data has commenced at its 100% owned Chevrier gold project (the “Project”) near Chibougamau, Quebec.
Available data from the Main Zone, the East Zone and other priority areas will be included in the modeling. The purposes of this modeling will be to enable a better understanding of controls on gold mineralization, aid in the definition of areas for expansion, by drilling, of known mineralization and to allow inter-active visualization of the mineralized zones in three dimensions.
Previous work on the property has focused on the Main Zone located in the central eastern area of the claim group. The Company has also located core from 69 holes drilled by Falconbridge-Minnova in 1985-88 in the northeastern area of the property, this area being named the East Zone. Falconbridge reported that this drilling program intersected gold mineralization.
The geological modeling will be undertaken by Geologica Groupe-Conseil Inc. using the GeoticMine software from Geotic from Val-d'Or. The model will focus on key geological units including intrusives (dykes and plugs), structures, alteration and mineralization envelopes.
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.
Genesis also announces that the company has granted an aggregate of 300,000 stock options to employees and consultants of the company. Each stock option entitles the holder to purchase one common share of the company at a price of .20 cents per common share for a period of five years from the grant date.
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 northeast 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.