{"id":114257,"date":"2017-10-08T10:41:06","date_gmt":"2017-10-08T14:41:06","guid":{"rendered":"http:\/\/countingpips.com\/?p=114257"},"modified":"2017-10-08T06:42:09","modified_gmt":"2017-10-08T10:42:09","slug":"genesis-metals-chevrier-phase-1-drilling-completed-phase-2-program-commencing","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/genesis-metals-chevrier-phase-1-drilling-completed-phase-2-program-commencing\/","title":{"rendered":"Genesis Metals: Chevrier Phase 1 Drilling Completed, Phase 2 Program Commencing"},"content":{"rendered":"
October 8, 2017<\/div>
\r\n<\/div><\/div>

By The Gold Report<\/b><\/p>\n

Source: The Critical Investor<\/em> for Streetwise Reports<\/em> \u00a0\u00a010\/05\/2017<\/a><\/b><\/p>\n

The Critical Investor<\/em> provides an update on Genesis Metals’ drill results and the company’s next steps.<\/p>\n

\"26.jpg\"
\nChevrier Gold project; IP anomaly<\/i><\/span><\/p>\n

In between exploration success stories (for example GT
\nGold) or possible myths in the making (Novo Resources) taking center stage,
\nGenesis Metals quietly completed the Phase 1 drill program, consisting of
\n4,900m of diamond drilling. Results were <\/span>announced<\/span><\/a><\/span> on October 3rd of nine drill holes, and
\nchannel sampling. Management received two separate batches of results of the
\nPhase 1 drill program, reporting eight out of nine holes testing greenfield IP
\nanomalies in two target areas in (see image above in red) now in the first batch,
\nand the remaining 13 drill holes focused on the Main Zone will come out in the
\nsecond batch in about three weeks. <\/span><\/p>\n

The balance of the first batch was just one verification
\nhole of the historic Main Zone deposit. If the anomalies wouldn’t return
\nmeaningful assays, the only thing left to report would be just this one
\nverification hole and sampling results from trenching, which usually isn’t very exciting news unless assays are spectacular and much better than expected. <\/span><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

Although the verification hole returned better results
\nthan the twinned historic drill hole from 2002, the drilling of the anomalies
\ndidn’t return any gold mineralization, obviously disappointing some investors
\nwith short term high hopes, as can be seen in this chart (the news release came
\nout on October 3):<\/span><\/p>\n

\"31.jpg\"<\/span><\/i>
\nShare price; 10 day <\/span><\/i>time frame<\/span><\/i> <\/a><\/span>\u00a0<\/span><\/p>\n

Management also indicated that a financing round had come
\nfree trading recently, which might have had some impact as well. The big
\nquestion of course is, if this sell-off is justified. In my view it clearly is
\nnot warranted. Recovery of the share price has already set in at the time of
\nwriting, so other investors seem to share that view with me. The company has at least 8 prospective target areas to explore, as the mentioned anomaly
\ntargets (in blue) were just the first:<\/span><\/p>\n

\"32.jpg\"<\/span><\/p>\n

For example, as mentioned in my first article<\/a> on Genesis,
\nthe East Zone is also an important target, as core shacks with core were found
\non the property when doing due diligence, eventually recovering 53 drill collar
\nlocations with often significant, corresponding assay results. Besides this,
\nthere are many more showings, and positive trenching and sampling results to
\nexplore, to generate even more drill targets. The company also reported good
\nresults at Trench 29 in the news release of October 3, encountering 2.55 g\/t
\ngold over 2.3m. \u00a0<\/span><\/p>\n

\"33.jpg\"<\/span><\/p>\n

Notwithstanding all this, I strongly believe, as I also
\nindicated in my first article, that the main value driver is the proving up and
\nhopefully increasing of the historic deposits of the Main Zone and the South
\nZone. Genesis Metals has a few aces up its sleeve in this regard: it has
\nmodeled the mineralization according to a different and more realistic concept
\ngenerating more ounces, it will use a lower cut-off to define more economic
\nounces, and sees a lot of possibilities to expand mineralization. One of these
\nlast possibilities is step out drilling, but also further infill drilling could
\nreturn better drill results than the historic results, as was the case at the
\nfirst verification hole GM17-09. This hole returned 2.94 g\/t gold
\n(“Au”) over a true width of 37.40 m (starting at 74.60 m down hole)
\nincluding 14.01 g\/t Au over a true width of 4.07 m. The hole that was verified
\nwas hole GFA-201, done by Geonova in 2002, returning 2.62 g\/t gold over
\n33.4 m including 6.67 g\/t gold over 5.00 m.\u00a0Calculating gram times meter,
\nthe difference is 56 gm versus 33.35gm for the high grade part, which is an
\nincrease of 68%.<\/span><\/p>\n

I am definitely looking forward to the release of the
\nmentioned remaining 13 assays of the Phase 1 program for the Main Zone. Of
\nthese holes, 10 were designed to test extensions of mineralized areas while 3
\nwere holes twinned or drilled in close proximity to and paralleling historic
\nholes. In the mean time, the company already announced on October 5 the
\ncommencing of the Phase 2 drill program of 5,000m, which is expected to be
\ncompleted in early November. About 2,000m will be dedicated to more twin,
\ninfill and step out holes at the Main Zone, confirming historic results and
\nlooking for extension of mineralized zones. The remaining 3,000m will focus on
\ntargets identified by previous trenching, and the evaluation of the East Zone.
\nThe results of this Phase 2 program can be expected in 2 batches, one at the
\nbeginning, and one at the end of December. <\/span><\/p>\n

As is hopefully clear by now, an exploration junior can
\nexperience misses, but it doesn’t have to implicate the end of upside at all.
\nEspecially with Genesis Metals and its Chevrier project, they have a lot of
\nhistoric data and resource estimates to prove up, which might very well pan out
\nto be much more than a solid back stop for their greenfield exploration
\nwildcard. <\/span><\/p>\n

I hope you will find this article interesting and useful, and
\nwill have further interest in my upcoming articles on mining. To never miss a thing,
\nplease subscribe to my free newsletter on my website www.criticalinvestor.eu,
\nand follow me\u00a0 on Seekingalpha.com, in order to get an email notice of my new
\narticles soon after they are published.<\/span><\/i><\/p>\n

Disclaimer:<\/span><\/i><\/p>\n

The author is not a registered investment advisor,
\nand currently has a long position in this stock. Genesis Metals is a sponsoring
\ncompany. All facts are to be checked by the reader. For more information go to
\nwww.genesismetalscorp.com and read the company\u0092s profile and\u00a0official
\ndocuments on\u00a0www.sedar.com, also\u00a0for important risk disclosures. This
\narticle is provided for information purposes only, and is not intended to be
\ninvestment advice of any kind, and all readers are encouraged to do their own
\ndue diligence, and talk to their own licensed investment advisors prior to
\nmaking any investment decisions.<\/span><\/i><\/p>\n

\"30.jpg\"Chevrier Gold project; trenching<\/span><\/i><\/p>\n

The Critical Investor<\/a> is a newsletter and comprehensive junior mining platform, providing analysis, blog and newsfeed and all sorts of information about junior mining. The editor is an avid and critical junior mining stock investor from The Netherlands, with an MSc background in construction\/project management. Number cruncher at project economics, looking for high quality companies, mostly growth\/turnaround\/catalyst-driven to avoid too much dependence\/influence of long term commodity pricing\/market sentiments, and often looking for long term deep value. Getting burned in the past himself at junior mining investments by following overly positive sources that more often than not avoided to mention (hidden) risks or critical flaws, <\/i>The Critical Investor learned his lesson well, and goes a few steps further ever since, providing a fresh, more in-depth, and critical vision on things, hence the name.<\/i><\/p>\n

Want to read more Gold Report<\/em> articles like this? Sign up at www.streetwisereports.com\/get-news<\/a> for our free e-newsletter, and you’ll learn when new articles have been published. To see recent articles with industry analysts and commentators, visit our Streetwise Interviews<\/a> page.<\/p>\n

Streetwise Reports Disclosure:<\/b>
\n1) The Critical Investor’s disclosures are listed above.
\n2) The following companies mentioned in the article are billboard sponsors of Streetwise Reports: None. Streetwise Reports does not accept stock in exchange for its services. Click here<\/a> for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
\n3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
\n4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer<\/b><\/a>. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
\n5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and\/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.<\/p>\n

Images and charts provided by The Critical Investor<\/em>
\n<\/p>\n

( Companies Mentioned: GIS:TSX.V; GGISF:OTC,
\n)<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

By The Gold Report Source: The Critical Investor for Streetwise Reports \u00a0\u00a010\/05\/2017 The Critical Investor provides an update on Genesis Metals’ drill results and the company’s next steps. Chevrier Gold project; IP anomaly In between exploration success stories (for example GT Gold) or possible myths in the making (Novo Resources) taking center stage, Genesis Metals […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-114257","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=114257"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114257\/revisions"}],"predecessor-version":[{"id":114372,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114257\/revisions\/114372"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}