Genex Au-Cu Project, Timmins, Ontario
Status: Advanced exploration stage, historical mine
Metals of interests: Gold, Copper, Zinc and Silver
Ownership: Option to Earn 100%
Location: 20km west of Timmins – Accessible by road all year-round
Surface area: 70 claims, 6 patents and 1 partial lease totaling 1,616 hectares
- IG-20-21 historical hole intercepted 2.26 g/t Au Eq over 33.85 metres (1.14 g/t Au, 0.45% Cu & 0.58% Zn)
- G17-09 historical hole intercepted 2.15 g/t Au Eq over 39.0 metres (0.20 g/t Au, 1.17% Cu & 0.14% Zn)
- Historical resource of 1 Million Tonnes of Copper using a cut-off grade of 1% . No gold or zinc values were calculated in this historical resource
- The Genex Project was in production between 1966-1967, where it shipped 240 tons of concentrate at 21.45%-27.25% Cu (No zinc or gold recovered)
- Potential for delineating a polymetallic open-pitable resource while targeting a massive sulphide source and gold enrichment trends
A summary of selected historical drill results is reported in Table 1:
- True widths of mineralization are not known.
- Gold equivalent grades are based on the following metal prices: gold US$1,950 per oz, zinc US$2.00/lb, copper US$4.50/lb, and silver US$25.5 per oz. Metal recoveries of 100% are applied in the gold equivalent calculation.
- Gold Equivalent values (AuEq) were calculated using the formula AuEq = (($1950 x Au g/t ÷ 31.104) + ($25.5 x Ag g/t ÷ 31.104) + ($4.5 x % Cu ÷100 x 2204.63) +($2.0 x % Zn ÷100 x 2204.63)) ÷ $1950 x 31.104