MONTRÉAL, June 14, 2023 /CNW/ - Genius Metals Inc. (TSXV: GENI) ("Genius Metals" or the "Company") is pleased to present its 2023 exploration program devoted to find and sample lithium-bearing granitic pegmatites on its Sakami and Iserhoff projects located within the prolific James Bay Territory and northern Abitibi belt of Quebec. The two projects constitute a vast land package located in deformed greenstone belts where historical exploration was concentrated on gold mineralization. However, the properties may hold untapped lithium potential since no historical exploration took place targeting this commodity.
Exploration Highlights
- An exploration campaign on the Sakami property to assess the lithium potential of a vast land package covering more than 180 km2 of the La Grande greenstone belt, in an area never explored for its lithium mineralization. Recent discoveries in the greenstone belts of the James Bay Territory highlight the favorable geological and structural environment to discover lithium-bearing pegmatites.
- Historical geophysical and geochemical surveys searching for gold mineralization are being reinterpreted from a lithium exploration perspective. Several areas showing lithium till anomalies were discovered on the Sakami property, and these will be investigated in hope of identifying and sampling lithium-bearing pegmatites.
- The Company has more than tripled its land package of the Abitibi belt's Iserhoff property by acquiring adjacent claims. South of the property, Mosaic Minerals' Lithium SM property hosts several lithium-bearing pegmatites and felsic intrusions.
Sakami Prospecting Campaign
Genius Metals' 100% -owned Sakami property comprises 588 claims covering 302 km2 with more than 180 km2 incorporating volcano-sedimentary rocks of the La Grande greenstone belt over a length of 30 km. The greenstone belts constitute a favorable geological setting for the discovery of lithium-bearing pegmatites since it is in structural contact with the metasedimentary Opinaca basin. At the SW end of the La Grande greenstone belt, Harfang Exploration has discovered lithium-bearing pegmatites in the SE portion of its Serpent-Radisson property near the Sakami Lake (see Harfang Explorations' October 5th, 2022 press release). The Sakami property remains unexplored for its lithium potential and the company will mobilize a crew of geologists and technicians during the summer of 2023 to discover and sample lithium-bearing pegmatites. Attention will be given to two specific areas where significant lithium till anomalies were found from the results of a property scale 2022 geochemical survey (Figure 1). Historical geophysical surveys completed by the Company are currently reinterpreted to define structures favorable to the injection of granitic plutons and associated Li-bearing pegmatite dykes. The property is located near important infrastructures with several major powerlines in the vicinity. The Trans Taiga road crosses the northern part of the property whereas the LG- 1 and LG -2 airports are located < 40 km from the property. During the last three years, the Company has conducted several year-round exploration campaigns from a well-established camp on-site.
Click on the following link to view Figure 1. Significant lithium till anomalies identified from the results of a property scale geochemical survey completed in 2022
*Genius Metals cautions that mineralization hosted on adjacent or nearby properties is not necessarily indicative of the mineralization hosted on its properties.
Iserhoff Prospecting Campaign
The Company has reached an agreement with a private party to acquire 112 claims adjacent to the Iserhoff property, effectively tripling the size of the property to 153 claims covering 85 km2. The compensation paid for the acquisition will vary based on future milestones. 8 km south of Iserhoff, Mosaic Minerals' Lithium SM property shows exposures of lithium-bearing pegmatites and felsic intrusions (Figure 2). The Company will assess the lithium potential of the Iserhoff property during a 2023 summer exploration campaign searching for lithium-bearing pegmatites since the property was historically explored for gold, whereas no exploration work was undertaken to assess its lithium potential. The property is accessible via a network of well-maintained forestry roads some of which join provincial highway 113 connecting Lebel-sur-Quévillion with Chibougamau. In 2018, the Company acquired a 100% interest in the property based on a drilling campaign completed in the 1960s by O'Brien Gold Mines' showing a gold-mineralized network of quartz veins injected in a 3.5 km long intermediate and felsic volcanic assemblage. Assay results yielded anomalous gold values at shallow depth (ex: 1.40 g/t over 8.3 m, 1.24 g/t over 14.5 m, and 1.24 g/t over 5.9 m) with some associated silver, lead, and zinc content.
Click on the following link to view Figure 2 Genius Metals' Iserhoff property and known Au and Li showings.
*Genius Metals cautions that mineralization hosted on adjacent or nearby properties is not necessarily indicative of the mineralization hosted on its properties.
Update on Lithium381
Genius Metals and Lithium381 optionor Clarity Metals are currently working together to decide how to advance the project in view of the recent discoveries on adjacent properties. Allkem has extended the strike of their known mineralization past their pit by reporting intercepts of 125m @ 1.70 Li2O and 72m @ 1.89% Li2O (see Allkem Limited's press release of May 4th). Allkem also considerably increased its land position adjacent to the James Bay mine through staking and acquisitions (see Allkem Limited's press release of May 4th). Furthermore, Brunswick Exploration recently divulgated intercepts for a total of 26.5m @ 1.51% Li2O from its initial drill campaign conducted on the Anatacau West property located < 2 km from Lithium381 (see Brunswick Exploration's press release dated May 24th, 2023). Exploration updates will be disclosed by both parties in the near future.
Click on the following link to view Figure 3: Lithium381 Property and adjacent explorers
*Genius Metals cautions that mineralization hosted on adjacent or nearby properties is not necessarily indicative of the mineralization hosted on its properties.
Qualified Person
The technical information contained in this news release was reviewed and approved by Michel Boily, Ph.D., P. Geo, 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.
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 results 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.
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SOURCE Genius Metals Inc.
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