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Be the first with the news that moves the market- Genesis Metals (GIS) has reported strong assay results from the final component of a 2020 Phase 1 drill program at its Chevrier gold project in Quebec
- The aim of the Phase One program was to drill test the down-plunge continuity of newly identified high-grade shoots within the Chevrier Main deposit
- Five remaining holes have now been completed, some of which returned 9.71 grams per tonne of gold over 3.65 metres and 9.73 grams per tonne of gold over 4.5 metres
- Surface exploration is now underway to further assess target areas, and a second phase of drilling has been planned for later this year
- Genesis Metals (GIS) is currently down 6.67 per cent and is trading at C$0.35 per share
Genesis Metals (GIS) has reported strong assay results from the final component of a 2020 Phase 1 drill program at its Chevrier gold project in Quebec.
Five remaining holes, totalling 1,596 metres, have now been completed at the project, which sits in the eastern region of the prolific Abitibi Greenstone Belt. The primary objective of the program, which totalled 2,502 metres, was to drill test the down-plunge continuity of recently identified high-grade shoots within the Chevrier Main deposit.
Some of the drill results showed that these high-grade gold shoots confirm such continuity and are traceable for more than 200 metres, occurring within wider gold mineralised envelopes.
These holes returned significant mineralisation including 9.71 grams per tonne of gold over 3.65 metres and 9.73 grams per tonne of gold over 4.5 metres.
In addition, Genesis Metals discovered further potential high-grade shoots within and below the current mineral resource pit, which will require additional drilling.
David Terry, CEO of Genesis Metals, said he is encouraged by the gold grades that were intersected and the apparent continuity of the initial drill holes that targeted structurally controlled higher-grade shoots.
“The program so far has had a high success rate, and we look forward to additional drilling to better define this new high-grade component of the deposit, and to results from the ongoing surface exploration program focused on advancing priority targets elsewhere on the large Chevrier project,” he added.
A program of surface exploration is now underway at the Chevrier project, which will further assess target regions that were discovered during a property-wide glacial till survey in 2019 as well as through a comprehensive review of historical data.
The plans for a second phase of drilling are expected to be released in the near future.
Genesis Metals (GIS) is down 6.67 per cent and is trading at C$0.35 per share at 3:37pm EDT.
