Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Genesis Metals (TSXV: GIS) announced that it will restart operations at its Chevrier gold project in Quebec, following a halt in late March due to the covid-19 pandemic.
In a press release, Genesis said it will continue to monitor the situation, comply with all government directives and follow protocols consistent with minimizing the spread of the virus to protect the health of its workforce and their local communities.
Prior to the work stoppage, 2,008 metres in eight holes of the planned ~2,500-metre Phase I program had been drilled
With the resumption of certain activities in the province, the Vancouver-based miner will restart its Phase I ~2,500-metre drilling program and complete logging and sampling of remaining previously drilled core on site. Prior to the work stoppage, 2,008 metres in eight holes had been drilled.
“The Phase I drilling has focused on improving definition and testing for expansion opportunities of modelled higher-grade domains which are interpreted to form of plunging ‘shoots’ within the Chevrier Main deposit,” the company’s media brief states.
“Genesis is also advancing with plans for a summer surface exploration program to assess a number of target areas on the property identified through a property-wide glacial till survey carried out in 2019 and a comprehensive review of all available data on the +290 square kilometre project area.”
Chevrier is a 290-square kilometre property that covers a 15-kilometre extent of the Fancamp Deformation Zone, along which zones of gold mineralization are associated with high strain zones in predominantly mafic volcanic rocks. It is contiguous to the Monster Lake gold project and 20 kilometres northeast of the new IAMGOLD/Vanstar Mining 3.1 Moz Nelligan gold discovery.
