Genius Metals and Clarity Metals Apply for a Drilling Permit for Lithium381
Genius Metals and Clarity Metals Apply for a Drilling Permit for
Lithium381
MONTRÉAL, QUÉBEC, CANADA — (January 18, 2022) - Genius Metals Inc. (TSXV: GENI) (“Genius
Metals” or the “Corporation”) is pleased to report that Lithium381’s optionee, Clarity Metals (CSE:
CMET, OTC: CLGCF, FSE: 27G0) has submitted a drill permit application after receiving positive
preliminary results from a recently completed IP/Resistivity survey over a portion of the
Lithium381 property (see Genius news release dated January 17, 2023 ) (the “ Property”). The
Lithium381 property is adjacent to the James Bay Lithium mine, which received the approval of
the government of Canada on January 16, 2023.
Drilling Permit Application
The drilling permit submitted includes locations for 27 drilling pads. Genius Metals and Clarity
Metals have begun planning a follow -up drilling program which will be further refined when
additional geophysical and remote sensing survey results are received. The drilling permit is
focused on testing a target interpreted from preliminary results produced by a recently completed
IP/Resistivity survey which identified a 1.5 km EW-oriented area of relative high resistivity values
(Figure 1).
Figure 1 Preliminary resistivity results on Lithium381 Project and Allkem Limited’s 2008 IP
Resistivity survey in the area of the proposed open pit. *Note the surveys are at different
scales.
The Lithium381 Property
The property is located in the James Bay Eeyou Istchee territory, Quebec, Canada, approximately
3km from the KM381 service station, which serves as an infrastructure for the local area.
The 21 mineral claims comprising the 1107 ha property are contiguous to Allkem Limited’s (TSX:
AKE) James Bay Lithium property which comprises the Allkem lithium mineralization (40.8 Mt
@1.40% Li 2O as Indicated Resource) formerly known as Cyr lithium from Galaxy Lithium . The
James Bay Lithium project has received the approval of the government of Canada for the
construction of a 20-year lifespan mine on January 16, 2023.
Genius Metals signed an option agreement with Clarity Metals Corp. (CSE: CMET, OTC: CLGCF,
FSE: 27G) on December 6, 2022 which enables CMET to acquire a 50% interest in the Corporation’s
Lithium381 property, located in the James Bay -Eeyou Istchee region of the Province of Quebec.
To acquire this interest in the property, Clarity must spend $750,000 in exploration work before
December 31, 2024, and issue 720,000 common shares of its capital to Genius Metals.
Qualified Person
The technical information in this news release was reviewed and approved by Michel Boily,
Ph.D., P. Geo, a qualified person under NI 43-101.
About Genius Metals
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.
Contact Information
Genius Metals Inc.
Tel.: 579-476-7000
Pierre-Olivier Goulet
Vice-President Corporate Development
Email: [email protected]
1-450-821-5270
Guy Goulet
President and CEO
Email: [email protected]
1-514-294-7000
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 using
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, including statements relating to the exercise of the Option under the Option
Agreement and the timing and amount of Expenditures funded by Clarity and statements relating
to the expected findings on the Property, are based on the Corporation’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 resu lts 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release