Business
Genius Metals Enters Option Agreement to Acquire 100% Interest in Tifernine Copper Project, Kingdom of Morocco
MONTRÉAL, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Genius Metals Inc. (TSXV: GENI) (“Genius Metals” or the “Company”) is pleased to announce that it has entered into a
About this update from Morocco Strategic Minerals Corporation
[{"type":"text","content":" MONTRÉAL, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Genius Metals Inc. (TSXV: GENI) (“Genius Metals” or the “Company”) is pleased to announce that it has entered into an option agreement to acquire a 100% interest in the Tifernine Copper Project, located in the Kingdom of Morocco. This acquisition aligns with the Company’s strategy to explore and develop its Moroccan assets, including both the Tifernine and BMR projects, while advancing its exploration activities in North America. About the Tifernine Copper Property The Tifernine Copper Project covers an area of approximately 16 km² (see Fig. 1) and is located southeast of Ouarzazate, Morocco, accessible via the national road N9, which connects Ouarzazate to Zagora. The property is situated just 10 km from the BMR property, where Genius Metals also holds an option to acquire a 100% interest (see press release dated July 11, 2024). Geologically, the Tifernine property consists of an Ediacaran rhyolitic and andesitic complex intersected by ENE-WSW-oriented faults. It hosts several sub-vertical structures, each extending approximately 1 km in length and up to 2 meters in width. These structures are locally brecciated and contain quartz-carbonate veins. Copper mineralization is observed both in veins and disseminated within the volcanic rocks. Figure 1: Location of the Tifernine property, Kingdom of Morocco Recent Exploration Activities An independent surface sampling program was recently conducted by GoldMinds Geoservices Inc. to assess the copper potential of several structures across the property. Eleven samples were collected along trenches and mineralized structures. Notably, five samples returned copper grades exceeding 0.7% Cu, with the highest value reaching 5.16% Cu from a sample taken from a sub-vertical fault, up to 3 meters wide, located in the eastern part of the property. Table 1: Surface Sample Assay Results Samples Length (m) Cu% CuOX (ppm) 26367 1.0 0.83 6,720 26368 1.0 0.19 1,325 26369 1.0 0.01 53 26370 1.0 0.01 <10 26371 1.0 0.22 1,047 26372 1.0 0.09 305 26373 0.5 0.75 6,060 26374 0.3 1.47 12,060 26375 1.0 0.77 6,140 26376 1.2 0.31 1,924 26377 0.3 5.16 43,200 Figure 2: Surface samples location “We are thrilled with this newly acquired permit, locat...