From Brian Lundins May newsletter Genesis Metals
GIS.V; GGISF.OTC 604-653-9464 genesismetalscorp.com
My first new recommendation is Gen- esis Metals, a former rec that I had ceased coverage on a while back due to unfavor- able market conditions.
As you may remember, the com-
pany’s main project is Chevrier, which
lies within Quebec’s Chibougamau sec-
tion of the Abitibi Greenstone Belt. The
Abitibi straddles Quebec and Ontario and
has produced more than 170 million
ounces of gold. Indeed, the Chibougamau
district alone has contributed 6.7 million ounces of production to that total.
The area is both rich in mining infrastructure and so large that it still possesses a good deal of discovery potential. For example, the 290-square-kilometer Chevrier contains 395,000 ounces of indicated, 1.45 g/t gold and 297,000 ounces of 1.33 g/t gold.
Better still, there’s significant potential to expand the tonnage and improve the grade of the es- tablished deposits at Chevrier. Recent drilling on the project, which the company managed to get in before the Covid shutdown, targeted high-grade shoots from these deposits that the company dis- covered in 2017 drilling.
I had forgotten how good those results were (e.g., 8.73 g/t over 21.4 meters, including 39.97 g/t over 3.0 meters; 3.59 g/t over 22.6 meters; 4.26 g/t over 19.4 meters, including 8.99 g/t over 7.8 meters and 4.47 g/t over 12.5 meters within a longer interval grading 1.08 g/t over 84.9 meters.)
$0.40 $0.38 $0.36 $0.34 $0.32 $0.30 $0.28 $0.26 $0.24 $0.22 $0.20 $0.18 $0.16
Genesis Metals
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But that news was released into a very bad market in January of 2018, so they didn’t get much attention. Since then, they’ve joined the Discovery Group and added a dream team of advi- sors, board members and financial backers, and added highly respected David Terry as CEO.
Now, they have the chance to wow the market with more high-grade from Chevrier — they drilled eight holes this year and got about half of that to the lab before they shut down. I expect results either by the end of April or early May.
Everyone at Genesis and the Discovery Group is excited about this year’s drill program and the current targets, and if this group is excited, then we should be as well. Genesis Metals looks like a first-rate speculation on resource growth and discovery in a gold-rich part of the world. It’s a buy.
Genesis Metals Ltd.
Recent Share Price: ...................... C$0.24 Shares Outstanding: ............. 43.8 million Market Cap:..................... C$10.5 million Shares Outstanding
Fully Diluted: ....................... 59.0 million