Genesis Metals holds a 100% interest in the 130 square kilometer Chevrier Gold Property, located near Chibougamau, Quebec. The project is easily accessible and close to infrastructure.
CHIBOUGAMAU MINING DISTRICT
Over 6.7 Million ounces of historical gold production
The Chevrier Gold Property covers 15 kilometres of the Fancamp Deformation zone - an emerging mineralized belt undergoing intensive exploration by multiple companies including several major industry players, including the high-grade Monster Lake Gold Discovery which is being explored by Toma Gold and IAMGOLD.
Historic work at Chevrier returned thick intersections of gold as well as high grade intervals both at surface and at depth. The mineralization extends over a currently defined total strike length of more than 1.2 kilometers and shows vertical continuity to a depth of 525 meters. It is still open at depth.
The Main Zone hosts a NI 43-101 resource of 295,000 oz at an average grade of 1.99g/t. (Metchem 2010 NI 43-101 Report) and the South Zone has a target potential of between 8.5 and 9 million tonnes grading 1.8 to 2.2 g/t gold.
Genesis management sees potential to unlock significant upside and enhance the value of the deposit. For the remainder of 2018 Genesis will complete an updated NI 43-101 resource estimate and identifying new targets on the property. This includes the re-logging of drill core, surface mapping and geochemical sampling.
Work Completed Since Project Acquired in Q2 2016
- Inventory of more than 70,000 m of drill core
- Entire core from historic holes were never sampled – only selective sampling by previous companies
- Resampling and re-assaying of selected mineralized intervals
- Resampling of 4 trenches
- Compilation of all data for 130+ square km property – new targets
- 3D modelling of Main, South and East Zones completed
- 50+ km of IP surveying completed
- 10,000 meters of drilling completed in 2017