Genius Properties Announces Filing of NI 43-101 Technical Report and Initiate Exploration Work on its Meaghers Property
ST-SAUVEUR, QUEBEC –- August 9, 2018 – Genius Properties Ltd. ("Genius" or the "Corporation") (CSE:GNI)(CSE:GNI.CN)(CNSX:GNI) is pleased to announce that is has filed on SEDAR a National Instrument 43-101 ("NI 43-101") technical report for its Meaghers property located in Nova Scotia and has initiated exploration on it.
The technical report entitled "The Meaghers Property, Halifax County, Nova Scotia Canada, NTS 11D/14D" dated July 21, 2018, was prepared in accordance with National Instrument 43-101 - "Standards of Disclosure for Mineral projects" and can be found under the profile of the Corporation on www.SEDAR.com. The technical report was independently prepared by Michel Boily, PhD, geo of Montreal, Quebec.
The exploration of the Meaghers property represents an opportunity to evaluate the gold potential of a relatively unknown territory located within 10 km from Atlantic Gold’s Touquoy Mine (Total Measured and Indicated Reserves at Touquoy: 10.1 Mt @ 1.48 g/t Au (479,000 oz.); Staples et al., 2018). The property reveals similar geological and structural characteristics to the Touquoy Mine such as exposures of the gold-bearing Goldenville Formation, the presence of warped and folded anticlines and a comparable magnetic signature.
The Meaghers property is located in South-Central Nova Scotia within the Halifax County, 39 km NE from the Halifax-Dartmouth conglomeration. The property consists of a continuous block of seven licenses, 100% owned by Genius Properties Ltd., comprising 243 claims and covering 3934 ha. Access from Halifax-Dartmouth urban center to the western end of the property is by a paved road system, whereas several secondary roads crisscross the entire Meaghers property.
Starting mid-July, Genius began exploration work on Meaghers. The work consisted in prospecting, geological mapping and rock sampling to generate exploration targets on which to focus more detailed work, such as channel sampling, trenching and geophysics. Besides, Genius geologists visited the core library of the Geosciences and Mines Branch in Stellarton, NS. They were given access to the core boxes form the Getty Mines 1973-1976 drilling campaigns carried out within the southwestern part of the Meaghers property. Most of the core material has never been splitted and it is the intention of the Company to analyze it for gold and other base metal.
Dr. Michel Boily, geo, is the qualified person under NI 43-101 who has reviewed and approved the technical information contained in this document.
Merger between Genius Properties and Cerro de Pasco Resources S.A.
Let’s recall that on August 3, 2018, the shareholders approved the acquisition by Genius of all the issued and outstanding shares of Cerro de Pasco, on the terms and subject to the conditions set out in a Merger Agreement dated November 9, 2017, as amended on February 28, 2018.
Genius expects to close the transaction with Cerro de Pasco on August 31, 2018 and therefore to proceed with the change of name, the spin-off and the distribution of SpinCo shares to its shareholders.
The record date for such distribution will be August 30, 2018, being one day prior to the anticipated date of closing with Cerro de Pasco.
About Genius Properties Ltd.
Genius is a Canadian mineral exploration company focused on developing projects with some of the world's most critical metals and minerals.
Genius Properties Ltd.
President and CEO
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This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Genius’ periodic reports including the filings made by Genius from time to time with securities regulatory authorities.