Genius Metals Acquires Substantial Ground at SAKAMI Prior to its Summer 2020 Exploration Campaign
Genius Metals Acquires Substantial Ground at SAKAMI Prior to
its Summer 2020 Exploration Campaign
St-Sauveur, Québec − (CNW – May 27th 2020) – Genius Metals Inc. (CSE:GENI) (“Genius” or
the «Company”) is pleased to announce the acquisition and addition of 202 new claims to its
Sakami property located in the James Bay area (Québec) prior to its summer 2020 exploration
campaign. The Company is also pleased to announce that it has entered into an agreement with
Laurentia Exploration to become Genius’ geological consultant for the development of the
Sakami Property. With several Laurentia geologists involved in discoveries and development
projects in the James Bay region the consulting firm holds an unparalleled experience in the
Sakami area.
New Claims Staked
The Company recently added 202 new claims to the already owned 162 Sakami claims bringing
the total land package to 364 claims covering 18,726 hectares (187.2 km2). A large contingent
of claims includes mafic volcanic rocks and are contiguous to its highly prospective northeastern
segment of the property straddling the fault bounded La Grande/Opinaca contact. Other claims
located to the southwest, were staked to enclose major structures extendin g from volcanic
lithologies to the 2.8-3.4 billion years Langelier tonalitic complex.
Highlights
• The structural contact between the Opinaca and La Grande geological sub -provinces in
the James Bay area (Québec) is associated with many important gold mineralized zones
such as Quebec Precious Metals La Pointe prospect and most notably the Éléonore gold
mine operated by Newmont (246k Oz Au produced in 2019 and 1.3m Oz Au reserves
as of Dec. 31st, 2019) (Source: Newmont Corp. Annual Report on Form 10-K, February
21, 2020).
• Northeast of the Property, O3 Mining’s La Grande Sud Property hosts substantial gold
mineralization within Zone 32 (310,000 Oz Au; non NI43 -101 compliant) . To the
southeast, Quebec Precious Metals is currently running a 25,000m drilling program and
has already announced positive results.
• No drill hole ha s been performed on the recently staked regional fault extending
from the deformation zone of the La Grande Sud mineral deposit.
• Over the past tw o years, Genius Metals has collected several grab samples from the
Sakami property containing over 1g/t Au. The gold values are associated with
conductance and magnetic anomalies revealed by the recently completed helicopter
borne MAG-TDEM survey.
• Genius Metals wishes to implement a comprehensive three-phases exploration campaign
on the property. The first phase beginning over the summer 2020 will include geophysics,
overburden stripping, geological mapping, and rock sampling. The second phase will
involve an initial and small drilling campaign to be carried out during the fall season.
The third phase will consist in a larger drilling campaign, to be carried out during the
subsequent year.
Pierre-Olivier Goulet, Vice-President Corporate Development of the Company stated: “Genius
is extremely pleased to have acquired new ground at Sakami in one of the most prospective
gold regions of Québec. The Company is eager to start our 2020 summer exploration campaign.
Genius is proud to stand as a l eader in the exploration of this undeveloped region and the
company will undertake the appropriate technical and financial measures to achieve its goals”.
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 Laurentia Exploration
Laurentia Exploration is a firm based in Saguenay, Québec specialized in geoscientific services
and advice to mining and exploration companies. Laurentia offers step by step support
throughout all aspects of mineral projects.
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.
Contact Information
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]