Genesis Metals (TSXV: GIS) is closing in on a million ounces of gold at its Chevrier project, 35 km south of Chibougamau, Quebec. In all categories, there are 912,000 estimated oz., according to a resource estimate released this week.
Pit resources at the Main zone include 6.4 million indicated tonnes grading 1.26 g/t gold (260,000 oz.) and 11.2 million inferred tonnes grading 1.18 g/t gold (420,000 oz.) with a 0.3 g/t cut-off grade.
Underground inferred resources at the Main zone are 4.5 million tonnes grading 1.62 g/t gold (232,000 oz.) with a 1 g/t cut-off grade.
Genesis drilled 1,468 metres in five holes at Chevrier last year. Highlights include:
The 100%-owned Chevrier property covers 275 sq. km of the Abitibi Greenstone Belt. Most of the work completed to date has been on a 3-sq.-km area near the centre of the property. The rest is underexplored.
Two other zones are of interest at Chevrier. The South zone abuts the Main zone to the southwest and along strike. It has been estimated to contain 31 million tonnes averaging 0.7 to 0.6 g/t gold within the pit shell. The East zone has an open pit inventory that was recently downgraded to between 300,000 and 400,000 tonnes grading 1.23 to 1.26 g/t gold and an underground inventory of 200,000 and 700,000 tonnes at 1.2 to 1.25 g/t gold. (Resource categories were not specified for the South and East zones.)
Genesis also holds 100% of the October gold property is considered to be in the extension of the Cadillac-Larder Lake Break in Ontario.
(This article first appeared in the Canadian Mining Journal)