Generic Gold Provides Exploration Update on Belvais Project, in the Chicobi Deformation Zone, Quebec
Toronto, December 17, 2020 - Generic Gold Corp. (CSE: GGC) (FSE: 1WD) (OTCQB: GGCPF) ("Generic Gold" or the "Company") is pleased to provide an update on the progress of exploration work on its Belvais Project ("Belvais" or "the Project") in Québec. The groundwork for the B-horizon soil sampling program has been completed and samples have been sent for analysis. Results are expected by mid to late January. The VTEMTM Geophysical Program continues to progress well. Completion is envisaged for January with results from the survey to follow soon after. Belvais lies directly south-east of Amex Exploration's Perron Project, which has made several high-grade gold discoveries (please refer to Amex Exploration's website). Generic Gold holds a significant land position of 12,563 hectares in the immediate Normétal area.
The B-horizon soil sampling program is an important data point for target generation. The B-horizon level of soil has one or more of the following: enrichment in organic matter, iron and aluminum, by the development of soil structure. Anomalous values found in this layer can be an indication of a bedrock source. During the 16-day soil sampling campaign, 369 samples were taken, spread out across the four blocks of Belvais (see Figure 1), with line spacings between 120-150 metres. The work was completed by a team of six geologists and technicians. The team also took advantage of the opportunity in the field to complete mapping of a number of outcrops and to note all access ways. Follow up sampling work on these mapped outcrops is planned for next year.
Aaron Stone, Vice President Exploration of Generic Gold, said, "As illustrated in Figure 1 this was a comprehensive soil sampling program and our team at Laurentia Exploration has done a great job of getting the program completed on time. Their efficiency speaks to the ease of access to the entire Belvais property and the experience and proficiency of the team on site. We're pleased with the pace and progression of our inaugural exploration activities on Belvais and we eagerly await results from the lab."
Figure 1: Geological Map of the Normétal area showing all B-horizon soil samples taken across the Company's four blocks of claims on the Belvais Project
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3923/70478_c1367fd10411e875_001full.jpg
About Generic Gold
Generic Gold is a Canadian mineral exploration company focused on gold projects in the Tintina Gold Belt in the Yukon Territory of Canada and the Abitibi Greenstone Belt in Quebec, Canada. The Company's Quebec exploration portfolio consists of four properties covering 12,563 hectares proximal to the town of Normétal, and east of Amex Exploration's Perron project and the past-producing Normétal mine. The Company's Yukon exploration portfolio consists of several projects with a total land position of greater than 35,000 hectares, all of which are 100% owned by Generic Gold. Several of these projects are in close proximity to significant gold deposits, including Goldcorp's Coffee project, Victoria Gold's Eagle Gold project, White Gold's Golden Saddle project, and Western Copper & Gold's Casino project. Generic Gold's board of directors and management team is led by experienced mining industry professionals, with expertise in exploration, finance, capital markets, and mine development. For information on the Company's property portfolio, visit the Company's website at genericgold.ca.
For further information contact:
Generic Gold Corp.
Richard Patricio, President & CEO
Tel: (416) 456-6529
rpatricio@genericgold.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATION SERVICES PROVIDERS ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Certain statements in this press release are "forward-looking" statements within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Forward-looking statements are necessarily based upon the current belief, opinions and expectations of management that, while considered reasonable by the Company, are inherently subject to business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. We seek safe harbour.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70478