Genesis Metals holds a 100% interest in the 275 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.
As of February 2019, Genesis has completed new resource estimate for the 100% owned Chevrier gold project located near Chibougamau, Quebec. This resource estimate is for both the Main Zone and East Zone on the Chevrier project. The East Zone is located approximately 10 km northeast of the Main Zone. Both zones are located within the Fancamp Deformation Corridor, a major structural break that appears to control the location of gold mineralization.
Totals for each category
- 395,000 ounces of gold averaging 1.45 g/t Au in the Indicated Resource category
- 297,000 ounces of gold averaging 1.33 g/t Au in the Inferred Resource category
*Mineral Resource Estimate for a combined pit constrained and underground scenario at a cut-off of 0.5 g/t Au in-pit and 0.95 g/t Au underground
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
- Updated 43-101 Mineral Resource Estimate February 2019