Genius Files Monster Lake NI 43-101 Technical Report
April 22 2014 - 8:30AM
Marketwired
Genius Files Monster Lake NI 43-101 Technical Report
MONTREAL, QUEBEC--(Marketwired - Apr 22, 2014) - Genius
Properties Ltd. (the "Corporation") (CSE:GNI) announces that it has
filed a technical report entitled "NI 43-101 Technical Report
Pertaining to: Chibougamau Property, Monster Lake West Block and
Meston Lake West Block, Northwestern Quebec, Chibougamau Mining
Camp, NTS 32G10 and 32G07" dated April 4, 2014 and prepared by
Donald Théberge, Eng., M.B.A., an independent qualified person
under NI 43-101. The NI 43-101 report is available under the
Company's profile on SEDAR (www.sedar.com).
Since 1984, over 40,000 metres of diamond drilling has been
completed by various operators along the over four-kilometre
mineralized corridor at the Monster Lake area. In the winter of
2012, TomaGold drilled 16 holes for a total of 2,420 metres on the
Annie zone, which resulted in a major discovery of 237.6 grams per
tonne of gold over 5.7 metres in hole M-12-60. In 2013, TomaGold
drilled 12 holes totalling 5,000 metres on zone 325. All the holes
intersected the gold-bearing structure, and seven of the 12 holes
returned values of over 10 grams per tonne of gold (see TomaGold's
website at www.tomagoldcorp.com). TomaGold recently announced a
significant option agreement with Iamgold Corp. valued at over
$17.5 million whereby Iamgold can earn a 50% interest in TomaGold's
Monster Lake and other properties (see TomaGold press release dated
November 12, 2013).
About the Monster Lake area property
In January 2014, the Corporation announced that it had entered
into an amended Asset Purchase Agreement for the sale of an initial
50% interest on a total of 81 claims covering approximately 4,515
hectares in the region of Monster Lake, in north-western Quebec. In
addition, the buyer (Mazorro Resources Inc.) has an option,
exercisable for a period of two years, to acquire the remaining 50%
stake held by the Corporation (see Press Release dated Jan. 28,
2014). The property comprises two claim blocks: Monster Lake West
consisting of 40 claims covering approximately 2,224 hectares and
Meston Lake West consisting of 41 claims covering approximately
2,291 hectares. The Monster Lake area is located approximately 44
kilometres southwest of the town of Chibougamau. The property is
easily accessible by road and a high-voltage power line crosses the
area nearby.
During January 2014, a helicopter-borne magnetic and
electromagnetic (TDEM) survey, funded by Genius Properties Ltd.,
was flown over the Monster Lake property with 258 line-kilometres
over the Monster Lake West Block and 257 line-kilometres over the
Meston Lake West Block, for a total of 515 line-kilometres. The
survey was performed by Prospectair Geosurveys. Both Blocks were
flown with traverse lines at 100 metre spacing and control lines
spaced every 1,000 metres. Final results of the survey are
pending.
Donald Théberge, Eng., M.B.A., is an independent qualified
person (as defined by National Instrument 43-101) and is the author
of the NI 43-101 report and has reviewed and approved the
scientific and technical information in this press release.
About Genius Properties
Genius is targeting Quebec's excellent mineral potential to
discover new world-class deposits. Genius is the ideal partner for
exploration companies and capital pool companies looking for
qualified transaction and projects of merit. Genius intends to
enter into various types of agreements on its properties.
Management is currently evaluating other growth opportunities in
its portfolio of newly acquired mineral properties to enhance
shareholder value in the short term.
This news release contains forward-looking information within
the meaning of applicable Canadian securities laws. All information
other than historical fact is forward-looking information.
Forward-looking information relates to future events or future
performance and is based on GNI current internal expectations,
estimates, projections, assumptions and beliefs. Forward-looking
information is often, but not always, identified by the use of
words such as "expect", "project", "proposed", "intend", "seek",
"anticipate", "budget", "plan", "continue", "estimate", "forecast",
"may", "will", "predict", "potential", "targeting", "could",
"might", "should", "believe" and similar expressions. Although
management considers the assumptions and estimates, reflected in
forward-looking information, to be reasonable, based on information
currently available, there can be no assurance that such
information will prove to be correct. As a consequence, actual
results may differ materially from those anticipated.
Undue reliance should not be placed on forward-looking
information which is inherently uncertain, and subject to known and
unknown risks and uncertainties (both general and specific) and
other factors that contribute to the possibility that the future
events or circumstances contemplated by the forward looking
information will not occur or that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information. These risks include, but are not
limited to risks associated with general economic conditions, the
actual results of current exploration activities, conclusions of
economic evaluations, changes in project parameters as plans
continue to be refined, future metal prices, financial risks and
substantial capital requirements. Further information regarding
certain of these risks (as well as risks relating generally to the
Company's business) may be found under the headings "Risks and
Uncertainties", "Forward-Looking Information" and "Financial risk
factors" in the latest Company's Management's Discussion &
Analysis on www.sedar.com. Readers are cautioned that the foregoing
list of factors that may affect future results is not exhaustive.
The forward-looking statements contained in this news release are
made as of the date hereof and GNI does not undertake any
obligation to update publicly or to revise any of the included
forward-looking statements, except as required by applicable law.
The forward-looking statements contained herein are expressly
qualified by this cautionary statement.
The CSE has neither approved nor disapproved the contents of
this press release. The CSE does not accept responsibility for the
adequacy or accuracy of this release.
Stephane LeblancPresident and CEO(418)
717-2553slconcept@hotmail.com