Genesis Metals Corp (TSX VENTURE: GIS) ("Genesis" or the "Company") is pleased to announce that comprehensive modeling of geological data has commenced at its 100% owned Chevrier gold project (the "Project") near Chibougamau, Quebec.
Available data from the Main Zone, the East Zone and other priority areas will be included in the modeling. The purposes of this modeling will be to enable a better understanding of controls on gold mineralization, aid in the definition of areas for expansion, by drilling, of known mineralization and to allow inter-active visualization of the mineralized zones in three dimensions.
Previous work on the property has focused on the Main Zone located in the central eastern area of the claim group. The Company has also located core from 69 holes drilled by Falconbridge-Minnova in 1985-88 in the northeastern area of the property, this area being named the East Zone. Falconbridge reported that this drilling program intersected gold mineralization.
The geological modeling will be undertaken by Geologica Groupe-Conseil Inc. using the GeoticMine software from Geotic from Val-d'Or. The model will focus on key geological units including intrusives (dykes and plugs), structures, alteration and mineralization envelopes.
Mr. Andre Liboiron, P. Geo, Exploration Manager for the Company and the Qualified Person as defined within National Instrument 43-101 for the Chevrier Project, has reviewed the contents of this news release.
Genesis also announces that the company has granted an aggregate of 300,000 stock options to employees and consultants of the company. Each stock option entitles the holder to purchase one common share of the company at a price of .20 cents per common share for a period of five years from the grant date.