TORONTO, July 23, 2018 (GLOBE NEWSWIRE) — Generation Mining Limited (CSE:GENM)(“the Company”) is pleased to report that final staging by technical crews from Geotech Ltd. of Aurora, Ontario, is under way for a helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) and magnetics survey, of approximately 1000 line-kilometres, over the Company’s Kennetcook, Nova Scotia base metal (Zn, Pb, Cu, Au and Ag) project. The modern VTEM™ Max method is ideally suited for locating the discreet conductive anomalies associated with deeply buried sulphide deposits. The stated objective of the survey is to target large sedimentary-hosted Zinc-Lead-Ag MVT deposits in the near surface to 600m depth range.
The Kennetcook project consists of 1277 claims (200 km2), currently held by the Company, in East Hants and Colchester Counties in Nova Scotia. The exploration licenses are parallel to the Kennetcook River, to the northwest, and straddling the low to highland transition along the southwest to northeast trending Rawdon Fault Zone (RFZ). Upon considerable technical review by Stevens Geophysics Inc., compilation, geophysical modelling and interpretation, the Company asserts that a 60km segment of the RFZ, and immediate geologic surroundings, has the potential to host large tonnage economic deposits of Zn-Pb-Ag, Cu or Au mineralization accumulated over time from deeply sourced metal rich fluids which were structurally focused by the RFZ.
The Kennetcook project lies in the Windsor-Kennetcook Basin of Nova Scotia, one of many sub-basins of the late Devonian to early Permian age Maritimes Basin that underlies parts of the northeastern United States and Atlantic Canada. The Windsor-Kennetcook Basin contains a range of known Mississippi Valley Type (MVT) base metal (Zn-Pb-Cu-Ag) and Ba-Sr type mineralized deposits nearby such as the no longer producing Gays River (Zn-Pb), Walton (Ba-Zn-Pb-Cu-Ag), Brookfield (Ba) and Smithfield (Zn-Pb) mines. MVT Pb-Zn deposits belong to a spectrum of sedimentary hosted base-metal deposits that include sedimentary exhalative (SEDEX) deposits, and also carbonate-hosted replacement (CRD) Ag-Pb-Zn deposits. The MVT deposits in the region would typically occur at the contact between the terrestrial sediments of the Horton Group and carbonates and evaporates of the Windsor Group.
The VTEM™ Max system is advertised by the manufacturer to be one of the most innovative airborne electromagnetic system to be introduced in more than 30 years. The receiver design using the advantages of modern digital electronics and signal processing delivers low-noise levels. Coupled with a high dipole moment transmitter, the result is high resolution and depth of investigation in precision electromagnetic measurements. Key features include:
- Superior Exploration Depth – Over 800 metres in certain environments
- Low Base Frequency (30 Hz) for Penetration through conductive cover
- High Spatial Resolution – 2 to 3 metres
- Improved Interpretability due to Receiver-Transmitter symmetry
- Spotting drill targets directly off of the airborne results
- Excellent resistivity discrimination and detection of weak anomalies
Rod Thomas, P. Geo, is a “qualified person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Properties and the Company’s Vice President – Exploration and Director. He has prepared or supervised the preparation of the information contained in this news release.
About Generation Mining Limited
Generation Mining Limited is a base and precious metals exploration and development company with various property interests throughout Canada. Its primary business objective is to explore and further develop the Davidson Molybdenum project in British Columbia and its other mineral properties, and to continue to increase its portfolio of base and precious metal property assets through acquisitions.
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This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors are encouraged to review the Company’s public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, other than as required by law.