MONTRÉAL, Jan. 10,
2023 /CNW Telbec/ - Genius Metals Inc. (TSXV:
GENI) ("Genius Metals" or the "Corporation") is pleased to
provide an update on the exploration progress at the Lithium381
property. The optionee of this property, Clarity Metals Corp. has
completed the following exploration work:
- Induced Polarization and Resistivity survey using a
100m line spacing and 25m dipole-dipole measurements
- Remote sensing survey including the acquisition, processing,
analysis, and interpretation of Synthetic Aperture Radar ("SAR")
and Sentinel & Aster Multispectral data
- 160 linear kilometer triaxial magnetometer survey at a
75m line spacing.
- Follow up exploration including permitting preparation.
The results of the three surveys are pending. Upon receipt and
interpretation of the results, Genius and Clarity will identify
targets that will be investigated through drilling shortly.
The Lithium381 Property
The property is located in the James-Bay Eeyou Istchee
territory, Quebec, Canada,
approximately 3km from the KM381 service station which provides
infrastructure to the local area.
The 21 mineral claims comprising the 1107 ha property are
contiguous are to Allkem Limited's (TSX: AKE) James Bay Lithium
property which comprises the Allkem lithium deposit (40.8 Mt @1.40%
Li2O as Indicated Resource) formerly known as the Cyr
deposit (Figure 1).
Genius Metals signed an option agreement with Clarity Metals
Corp. (CSE: CMET, OTC: CLGCF, FSE: 27G) on December 6th, 2022 which enables CMET
to acquire a 50% interest in the Corporation's Lithium381 property,
located in the James Bay-Eeyou Istchee region of the Province of
Quebec. In order to acquire this
interest in the property, Clarity must spend $750,000 in exploration work before December 31st, 2024 and issue 720,000
common shares of its capital to Genius Metals.
Click on the following link to view Figure 1. Location
of Lithium381 Project showing nearby properties and total pit
outline on Allkem's James Bay Lithium Project from the Allkem
Feasibility Study.
Qualified Person
The technical information contained in this news release was
reviewed and approved by Michel
Boily, Ph.D., P. Geo, qualified person under NI 43-101.
About Genius Metals
Genius Metals is a Canadian mineral exploration company focused
on the acquisition, exploration and, if warranted, development of
natural resource properties of merit in Canada.
Forward-Looking Statements and
Disclaimer
Certain information contained herein may constitute
"forward-looking information" under Canadian securities
legislation. Generally, forward-looking information can be
identified using forward-looking terminology such as, "will be",
"expected" or variations of such words and phrases or statements
that certain actions, events or results "will" occur.
Forward-looking statements, including statements relating to the
exercise of the Option under the Option Agreement and the timing
and amount of Expenditures funded by Clarity and statements
relating to the expected findings on the Property, are based on the
Corporation's estimates and are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Corporation
to be materially different from those expressed or implied by such
forward-looking statements or forward-looking information. There
can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements and
forward-looking information. The Corporation will not update any
forward-looking statements or forward-looking information that are
incorporated by reference herein, except as required by applicable
securities laws.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release
SOURCE Genius Metals Inc.
