Genesis Metals Drills 13.46 g/t Gold Over 8.90 Meters At Fox Zone
VANCOUVER - Genesis Metals Corp. announced assay results from 10 holes (3,109 meters) drilled as part of its recently completed 2020 Phase II (25 hole, 6,208 meter) diamond drilling program. Results of the final 5 holes (1,320 meters) from the Phase II program, all from the Mole zone, will be released once received and interpreted. The Chevrier Gold Project is located in the eastern Abitibi Greenstone Belt of Central Quebec.
Highlights include: 13.46 g/t gold over 8.90 meters in hole GM-20-80 in Fox zone starting at 114.80 meters down hole, within a wider zone assaying 9.56 g/t gold over 12.70 meters and including 25.44 g/t gold over 3.00 meters; Visible gold at 115.80 meters; 19.44 g/t gold over 1.20 meters in hole GM-20-80 starting at 160.50 meters down hole; 2.06 g/t gold over 21.25 meters in hole GM-20-80 starting at 225.75 meters down hole; 26.10 g/t gold over 0.70 meters in hole GM-20-81 starting at 137.80 meters down hole, within a wider zone assaying 3.40 g/t gold over 6.15 meters; 4.79 g/t gold over 3.00 meters in hole GM-20-83 starting at 120.00 meters down hole, within a wider zone assaying 1.81 g/t gold over 20.80 meters; and 2.07 g/t gold over 10.05 meters in hole GM-20-85 starting at 111.20 meters down hole. Insufficient drilling has been completed to definitively determine true thickness; true thickness is estimated to be between 86-100% for holes GM-20-78 to -86.
The objective of the Phase II program was to continue drill testing the extensions and down plunge continuity of newly recognized high-grade gold shoots within and near the Chevrier Main deposit area (1.2 km by 0.2 km) to delineate their boundaries and mineralized volumes within and below the pit shell from the 2019 mineral resource estimate. For reference purposes, six specific areas in the Main Zone with potential high-grade shoots have been labelled Fox, Mouse, Grouse, Lynx, Squirrel and Mole.
CEO, David Terry, said, "We continue to intercept multiple high-grade gold intervals in step-downs extensions and areas of mineralization with limited testing as the Fox zone is defined with more detailed drilling. I am also encouraged by the strong early-stage results from hole GM-20-85 at the Lynx zone."
The Genesis technical team has recognized a previously under-explored and poorly defined higher-grade component to the Chevrier Main gold deposit. A new 3D geological and mineralization model is being completed to better represent the distribution and geologic controls on higher-grade gold mineralization. This model was utilized to inform the planning and execution of Phase I and Phase II drilling programs in 2020.
The Company completed a total of 8,710 meters of diamond drilling in 34 holes in 2020, including the Phase I program which was carried out and reported prior. Results for the initial 10 holes (1,779 meters) of the Phase II program. Results of the remaining 5 holes (1,320 meters) from the Phase II program will be released once received and interpreted.
Five of the drillholes reported herein were drilled on the Fox zone; GM-20-79 to 83. They were drilled to define the Fox high-grade mineralized shoot.
Holes GM-20-79 and -80 were drilled from the same pad to the northwest at -50° and -63° dip, respectively ; both cut basalt and gabbro host rocks, ending in lapilli tuff. Gold intercepts are related to silicification and quartz-ankerite veins associated with zones of shearing and fuchsite-sericite-chlorite alteration and up to 5% pyrite. These holes were collared ~60 meters southeast of GM-20-76 and -77. GM-20-79 cut six separate mineralized zones of moderate grade width, including 8.89 meters averaging 2.43 g/t gold starting at 125.15 meters down hole. Hole GM-20-80 intersected ten discrete mineralized intervals, including a high-grade intercept of 12.70 meters averaging 9.56 g/t gold starting at 111.0 meters down hole, and including 3.00 meters averaging 25.44 g/t gold starting at 114.8 meters down hole. From 115.7 to 116.7 meters down hole a shear-hosted quartz-carbonate vein is associated with 5% fine-grained disseminated pyrite with 2% irregular clusters of chalcopyrite; one 0.8 mm visible gold grain was observed at 115.9 meters down hole at the vein margin.
Holes GM-20-81 and -82 were drilled to the northwest from the same pad, at -56° and -66° dips, respectively. These holes were collared ~22 meters southeast of GM-20-76 and -77. Both holes cored variably sheared and altered basalt, gabbro and lapilli tuff host rocks. Mineralized zones are characterized by silica-carbonate alteration and intense shear zones which host the majority of the veins. Quartz-ankerite veins and associated fuchsite-sericite-chlorite alteration and up to 5% pyrite host are related to the gold domains. GM-20-81 contains seven discrete mineralized zones, including 6.15 meters averaging 3.40 g/t gold starting at 135.4 meters down hole. GM-20-82 cut four discrete mineralized zones, including 4.45 meters averaging 4.00 g/t gold starting at 106.15 meters down hole.
GM-20-83 was drilled to the north at a -46° dip to optimize intersection of interpreted plunge. It was collared ~40 meters southwest of GM-20-76 and -77. It cored predominantly gabbro with lesser basalt and encountered three discrete mineralized zones associated with quartz-ankerite veins with up to 8% disseminated pyrite and minor chalcopyrite, including 26.8 meters averaging 1.81 g/t gold starting at 114.2 meters downhole.
Holes GM-20-84a, 84, and 85 were drilled on the Lynx target, ~125 meters northeast of the Fox subzone, to test for extensions to mineralization in historical holes, including 0.9 meters assaying 250 g/t gold, reported in historical hole T8-08 at 169.3 meters depth. All holes were drilled in-line at the same north-northwest orientation; GM-20-85 is located ~65 meters south-southeast of GM-20-84/84a . The holes intersected variably sheared and altered basalt, gabbro and lapilli tuff host rocks.
Planned hole GM-20-84 was abandoned in a fault at 90 meters downhole and was re-started as the upper part of this hole (GM-20-84a) contained a sampled mineralized intercept of 9.50 meters averaging 0.66 g/t gold starting at 31.00 meters downhole. It is reported as separate hole herein. Hole GM-20-84 intersected an equivalent zone to that discussed in GM-20-84a above. The follow-up re-drilled hole averaged 0.91 g/t gold over 8.75 meters beginning at 31.75 meters down hole.
The undercut hole GM-20-85 intersected 5 discrete mineralized zones including 10.05 meters averaging 2.07 g/t gold starting at 111.20 down hole and lining up below the two lower grade intervals in GM20-84/84a as well as intercepts in GM-17-48 (8.00 meters averaging 0.62 g/t gold starting at 51.8 meters down hole, and 19.40 meters averaging 4.26 g/t gold starting at 67.35 g/t gold, including 7.8 meters averaging 8.99 g/t gold.
GM-20-78 was designed as a long hole to test for mineralization related to historical hole GFA-111 south of the Main Zone deposit, and to then test the potential for mineralized areas below the Fox zone. GM-20-86 was drilled at the Squirrel target area, located in the northern part of the eastern Main Zone as a follow up to holes GM-20-68 to -70. These holes were drilled with the aim of better defining gold zones intersected by GM-17-15 which included 4.15 meters averaging 5.94 g/t gold starting at 63.35 meters down hole, followed by 11.95 meters averaging 3.83 g/t gold starting at 77.05 meters down hole which included 6.80 meters averaging 5.05 g/t gold. The hole cut variably sheared and altered basalt and gabbro host rocks.
The +290 square kilometer road accessible Chevrier property covers a 15-kilometer segment of the Fancamp Deformation Zone, along which zones of gold mineralization are associated with high strain zones in predominantly mafic intrusions and volcanic rocks. The property is contiguous with the high-grade Monster Lake gold project and 20 kilometers northeast of the new IAMGOLD Corporation/Vanstar Mining Resources Inc. 3.1 Moz Nelligan gold discovery.