Chevrier,
QC
Updated Resource
with 77% increase in open pit
18 km from Philibert
Current Resource only 18 km from Philibert.
652,000oz Au
Inferred Resources: 15.7 Mt at 1.29 g/t Au for 652,000 oz Au.
260,000oz Au
Indicated Resources: 6.4 Mt at 1.26 g/t Au for 260,000 oz Au.
The Property
Location & Property
~35 km to southwest of Chibougamau, Quebec
574 mineral claims totaling 290 km2 within the Abitibi Greenstone Belt
Key Deposits
Property covers 15 km of the Fancamp Deformation Zone
Main Zone: steeply-dipping high-grade quartz-ankerite + tourmaline veins (0.7 – 2 m thick) over ~1.4 km x 200 m
South Zone: disseminated gold zones (up to 30 m thick) aEast Zone: 6 shear zones over 750 m down-dip, not included in current resource
Project Highlights
Jan 2022: updated NI 43-101 resource
Total of 479 holes & 117,532 m drilled to date
Total Indicated Resources: 6.4 Mt at 1.26 g/t Au for 260,000 oz Au; Inferred Resources: 15.7 Mt at 1.29 g/t Au for 652,000 oz Au
The Property
- In January 2022, announced a 77% increase in open pit resources and a 39% increase in total gold resources1
- Main Zone comprised of 10 steeply dipping zones over 1,400 m by 200 m area
- Pit wall expanded, incorporating new & deeper zones
- Blue Sky potential with drill ready targets within and beyond the OP and UG resources
See Genesis’ press release dated January 24, 2022 and NI 43-101 Technical Report: “Mineral Resource Estimation for the Chevrier Main Deposit, Chevrier Project” with an effective date of October 20, 2021. Resource estimate based on the following open pit and underground resource assumptions:
- Gold price of US$1,800/oz
- Exchange rate of C$1.30:US$1.00
- Open pit mining cost of C$2.60/tonne
- Underground mining cost of C$50.00/tonne
- Processing and G&A cost of C$20.00/tonne
- Mill recovery of 95%
Near Term Resource Growth
- 34 drill holes (8,520 m) and 133 surface channel samples (201.5 m of sampling)
- Defined six shear zones over a 750 m strike
- Further drilling required to confirm continuity of gold mineralization
- Immediately SW and along strike of the Main Zone
- 15 of 18 drillholes returned intercepts over 0.5 g/t Au
- Identified 6 parallel zones over 1,200 m strike
Regional Targets Across This District Scale (290km²) Property
Property is host to parallel breaks with over 20 km of largely untested potential
Identified 23 gold targets, including 6 high priority targets
Targets identified through systematic programs carried out since 2019
Genesis has completed regional programs including mapping, property-scale gold-in-till surveying, soil sampling and IP surveying
Genesis completed an initial ~3,400 m drill program in 2021 testing priority 1 target areas, where anomalous gold mineralization was identified
Chevrier Project New Gold Targets
