(via TheNewswire)
Highlights:
Over 59-line kilometres were covered by the exploration team using a beepmat covering an area of approximately 2.6 square kilometres.
A total of 121 outcrop and erratic boulder samples were collected for assaying.
Two new chalcopyrite conductive horizons were discovered located respectively at 125 metres south and over 300 metres north of historical mine site
Resonant discovery returned 6.55 % copper, 1.55 g/t gold and 11.7 g/t silver (090624)
Channels were cut at over 15 targets, representing over 451 outcrop samples.
The exploration team’s diligent efforts in covering extensive ground and utilizing Beepmat ™ (Instrumentation GDD) technology has led to the discovery of two new significant chalcopyrite conductive horizons potentially expanding the overall Genex polymetallic footprint up to 125 metres to the south and 300 metres to the north. Preliminary results validate the IP anomaly interpretations and will help to expand additional exploration targets to the northeast. Ultimately, the company is gaining more knowledge, allowing it to further understand and continue exploring the VMS potential.
The first discovery was made over 125 metres to the south of the former Genex footprint and was identified under a thin layer of soil, named the Resonant showing. The mineralization observed at the discovery site corresponded to dense chalcopyrite stringers ranging from a few centimetres up to 15 centimetres and hosted in a chloritized siliceous volcanic rock. The first results obtained from the Resonant discovery returned 6.55 % copper, 0.1% cobalt, 1.55 g/t gold and 11.7 g/t silver (090624).
The mineralized area was subsequently excavated, creating an observation window of approximately 10 metres by 10 metres so that numerous channels could be cut, allowing for a better understanding of the mineralization and its relationship to that of the historical Genex deposit.
A second new chalcopyrite horizon, this time located over 300 metres to the north of the former Genex deposit, returned 1.05% copper, 0.81 g/t gold and 18 g/t Silver (090912).These two new discoveries expand the overall footprint of the Genex polymetallic system to over 650 metres (north-south) in comparison to its historical footprint of 250 metres.
Overall, an area of 2 sq/km was covered from
Beepmat Sampling Highlights:
10 rock grab samples yielded greater than 0.1% copper, with 5 samples above 1.0%
Sample 090624 assayed 6.5% copper, 1.55 g/t gold 11.7g/t silver
Sample 090656 assayed 2.6% copper, 0.13 g/t gold & 8.0g/t silver
5 rock grab samples yielded greater than 0.2 g/t gold, with 2 samples above 1.0 g/t
Sample 090995 assayed 0.15% copper, 1.28 g/t gold 13.0g/t silver
Table 1: Beepmat Sampling Highlights
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Genex Property Map with Exploration Coverage and New Chalcopyrite Horizons
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Please refer to Table 1 for sample details
The new samples collected from this program aim not only to expand but also to enhance the understanding of the complex geological structure and provide invaluable insight into the forthcoming drill program. In addition, the Company believes that the environment is favorable for the discovery of massive sulfides lenses related to a VMS deposit and ongoing efforts will continue to be concentrated on gaining more knowledge from the recently completed work and the historical data available.
Further to the successful beepmat program, the teams also completed a series of trenching and channel sampling concentrated around the newly discovered Resonant showing, and along the north-east conductors where initial sampling indicated the presence of significant mineralization. Sampling results and mapping are currently under revision and validation which will be shared as soon as it's available.
Rock samples were sent to AGAT in
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