Generic Gold Corp.’s [GGC-CSE; GGCPF-OTCQB; 1WD-FSE] Québec exploration portfolio consists of four 100%-owned properties covering 12,563 hectares, proximal to the town of Normétal and east of Amex Exploration’s Perron Project (with drill results including 56.75 g/t gold over 8.5 metres and the past-producing Normétal Mine).
Collectively known as the Belvais Project, the West, North, Centre and East Blocks contain more than 20 km of the East-West striking Normétal thrust fault in the Chicobi Deformation Zone. Thrust faults can be important geological features related to gold emplacement. The Chicobi Deformation Zone of the Chicobi Gold Belt is within the larger Abitibi Gold Belt. The eastern extent of the Belvais Project is adjacent to IAMGOLD and Osisko Metals properties.
The West Block and Centre Block surround the former Normétal Mine on three sides, which produced approximately 10 million tonnes grading 2.2% copper, 5.4% zinc, 0.5 g/t gold and 44.5 g/t silver.
The groundwork for the B-horizon soil sampling program has been completed and samples have been sent for analysis. The objective was to identify targets for drilling. Results are expected by late January. A VTEM airborne geophysical program is also nearing completion.
A total of 369 samples were taken spread out across the four blocks of the Belvais Project, with line spacings between 120 and 150 metres. Assays are pending. The team of six geologists and technicians 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 the next field season.
In addition, the company is seeking more mineral tenures to increase its land position in the Normétal Camp or elsewhere along the Chicobi Deformation Zone through staking of M&A transactions.
Diamond drilling is planned for Q2/Q3 2021 to follow up on results of the 2020 field program.
Multiple major roads run through the Belvais properties, making access for all exploration activities extremely easy. With the towns of Normétal and La Sarre in close proximity, low-cost housing for its workers is always available as well as other amenities and infrastructure that greatly lowers the cost of exploration.
Generic Gold holds over 35 000 hectares of Quartz and Placer claims throughout the Tintina Gold Belt in the Yukon. With many of these projects residing close to significant mineral discoveries.
Headed by Richard Patricio, President and CEO, who has 15 years’ experience building mining companies with global operations, the Generic Gold management team is led by experienced mining industry professionals, with expertise in exploration, geology, finance, capital markets, and mine development.
Strategic shareholders include mine financier Eric Sprott. Generic Gold has 59,669,063 shares outstanding and approximately $6.5 million in its treasury.