Montreal, February 23, 2021 - Generic Gold Corp. (CSE: GGC) (FSE: 1WD) (OCTQB: GGCPF) ("Generic Gold" or the "Company") is pleased to share the results from its recently conducted B-Horizon soil sampling program on its 100% owned Belvais Project ("Belvais" or the "Project") in Québec. Soil samples returned multiple gold, silver, copper and zinc anomalies as displayed in Figure 1. Belvais lies directly south-east of Amex Exploration's Perron Project, which recently announced a new high-grade gold discovery along the Normétal Fault (refer to Amex Exploration Press Release dated 17th February, 2021) on their Perron Project. This is of particular significance for Generic Gold, as the Company holds over 20 km of the Normétal Fault on its Belvais claims and is one of the largest land holders in the area with 12,563 hectares.
Aaron Stone, Vice President Exploration of Generic Gold, said, "The B-Horizon level of soil is an important layer that can often contain trace metals and pathfinder elements, providing an indication of what lies below in bedrock. As illustrated in Figure 1, this was a comprehensive program that has produced many anomalies spread out across the property. Of note, we have observed several anomalous gold values adjacent to the important Normétal thrust fault which appears to be associated with a significant high grade gold discovery for our neighbour. We hold a significant portion of this thrust fault within our Belvais claims, so it will of course be a focal point for upcoming target generation. In addition, there is a strong correlation between anomalous copper and zinc values which is indicative of possible VMS-type mineralization. We will combine these soil results with data from our recently completed VTEM survey, which we are currently interpreting and will release in the coming weeks, in order to generate drill targets."
Aaron Stone speaks to Core Finance out of London on the exploration plans for Generic Gold: https://www.youtube.com/watch?v=yyaFbVPTHVk.
The B-horizon soil sampling program was completed to assist with drill target generation. During the 16-day soil sampling campaign completed in December 2020, 369 samples were taken, spread out across the four blocks of Belvais (see Figure 1), with line spacings between 900-1000 metres apart and sample stations every 150 metres. Generic Gold engaged a consulting geologist specialising in glacial till geology and movements to plan the program and analyse results. With the obtained gold results and knowledge of local glacial dispersion, the consultant has generated up-ice targets from which anomalous gold values may be derived. The Company also recently completed an airborne VTEM geophysical survey across all its Belvais blocks to identify structures and conductive bodies which may aid in discovering important smaller splay faults off the larger Normétal thrust. Results from this survey are expected over the coming weeks. This is the final data input prior to selecting key targets for the drilling campaign expected to be launched in the coming months.
Figure 1: Geological Map, underlain by greyscale total field magnetics, of the Normétal area showing all B-horizon soil samples taken across the Company's four blocks of claims on the Belvais Project with results for Au, Ag, Cu and Zn.
To view an enhanced version of this graphic, please visit:
Soil samples were collected from the B-horizon level derived from till substrate. For each sample, approximately 1 kg of material was collected. Each sample was shipped to ALS Minerals in Val d'Or. Sample preparation was executed in Sudbury, Ontario, using the DRY-22 and SCR-41 methods. Finally, samples were sent to Galway, Ireland for analysis by the AuME-ST44 method whereas 50 grams of materials was digested in Aqua Regia with an ICP-MS and ICP-AES finish.
Hugues Guérin-Tremblay P.Geo, (OGQ - 1584), an Independent Qualified Person ("QP") as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release. The Qualified Person has not completed sufficient work to verify the historic information on the Property and in the vicinity, particularly in regards to historical drill results and historical mine production. However, the Qualified Person believes that these results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results. Also, mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
About Generic Gold
Generic Gold is a Canadian mineral exploration company focused on gold projects in the Tintina Gold Belt in the Yukon Territory of Canada and the Abitibi Greenstone Belt in Quebec, Canada. The Company's Quebec exploration portfolio consists of four properties covering 12,563 hectares proximal to the town of Normétal, and east of Amex Exploration's Perron project and the past-producing Normétal mine. The Company's Yukon exploration portfolio consists of several projects with a total land position of greater than 35,000 hectares, all of which are 100% owned by Generic Gold. Several of these projects are in close proximity to significant gold deposits, including Goldcorp's Coffee project, Victoria Gold's Eagle Gold project, White Gold's Golden Saddle project, and Western Copper & Gold's Casino project. Generic Gold's board of directors and management team is led by experienced mining industry professionals, with expertise in exploration, finance, capital markets, and mine development. For information on the Company's property portfolio, visit the Company's website at genericgold.ca.
For further information contact:
Generic Gold Corp.
Aaron Stone, VP Exploration
Tel: (514) 235-6012
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATION SERVICES PROVIDERS ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Certain statements in this press release are "forward-looking" statements within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Forward-looking statements are necessarily based upon the current belief, opinions and expectations of management that, while considered reasonable by the Company, are inherently subject to business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. We seek safe harbour.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75192