Dec 16 2016
Genius Properties Ltd. (CSE:GNI) ("Genius" or the "Corporation") is pleased to announce the completion of the 2016 IP survey at the Blockhouse Gold Property. Results have confirmed 2 high priority targets for next month's drilling program to test for the presence of 'leg-reef' and 'saddle' type veins on the property.
Current exploration at Blockhouse is being partially funded by the Province of Nova Scotia through a 50/50 shared funding grant under the Nova Scotia Mineral Incentive Program (NSMIP). The Department of Natural Resources' Geosciences and Mines Branch evaluated applications and awarded Genius with a grant based on the quality and merit of the work proposed and the potential that the project could lead to a new mineral discovery or significantly be advanced.
Property Highlights
Historical records on file with the Nova Scotia Department of Natural Resources indicate that the Prest Vein, on the Blockhouse Property, accounted for 2,043 tons of mill feed between 1896 and 1935, yielding 3,259 ounces of gold for an average grade of 1.59 ounces per ton (49.6 g/t). The width of the Prest Vein within the historically mined shoot is reported to average 0.25 meters (range of 0.15 to 0.61 m) and the wall rock where sampled is reported to average 0.085 ounces per ton (2.9 g/t).
There are also three other fissure type veins within the Blockhouse Property, the Thompson Vein, the Centre Vein and the East Vein (aka Laxer vein). Samples of the Thompson and East Veins have reportedly assayed in the order of 0.02 (0.6g) to 0.5 ounces (15.5g) per ton, the Centre Vein has yet to be reported to contain gold. There was no underground work reported on these three veins.
The Blockhouse Property is underlain by metasedimentary rocks of the Meguma Series, the Goldenville Group (formerly Formation) is composed of arkosic quartzites and interbedded shales, it in turn is overlain by the Halifax Group (formerly Formation) that consists of a series of slates and shales, with a predominance of quartzite near the base.
In April 2016, samples from mine spoils that are present near the old mine opening (shaft) returned results up to 38.6 g/t Au (1.24 ounces/ton).
In November 2016, samples assayed from historic drill core, stored at the Province's core library, reported results up to 0.5g/t over 1.5 m in the hanging wall of the Prest vein in DDH BH-1 near the intersection of the Prest vein with the 'favorable horizon'. Historic whole core sampling limited the amount of available core to be sampled. The 2016 IP survey identified this area as one of the high priority targets, it will also be tested in next month's drilling.
Jimmy Gravel, the President and CEO of the Corporation stated: "By drilling the anomalous trends, Genius anticipates to validate and confirm the presence of 'saddle' type veins. The next month's drilling program will finalize the exploration on the Blockhouse property for the season in a very satisfying and promising way."
The technical components of this press release have been reviewed and approved by Alex Mackay, P.Geo., a Qualified Person pursuant to NI 43-101 technical disclosure and reporting guidelines.