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MONTREAL, QUEBEC--(Marketwired - Mar 23, 2016) - Genius Properties Ltd. (the "Corporation") (CSE:GNI) is pleased to announce it is negotiating to acquire all of the interests of the sellers. in a block of 15 claims covering the two giant pegmatites known as "Lac des Montagnes B" (approximately 708 hectares), located in a region of Quebec that boasts other lithium deposits and known lithium mineralisation. The Montagne B project is potentially a new lithium field in an established lithium district.
In 2003, Osisko Exploration acquired Lac Des Montagne A ( Wabouchi Lithium Nemaska) from Inco, Osisko also staked a second property in the area (Montagne B), located 9 km south of Whabouchi Lithium (NEMASKA) and covering 708 hectares. The Montagne B property includes two giant pegmatites, one measuring 3000 m in length and other measuring 1600 m in length. The Montagne B pegmatites are part of a large dyke swarm of differentiated pegmatites (albite-muscovite-tourmaline-garnet-beryl) extending regionally over a strike length of 110 km. The area is highly prospective for Lithium and tantalum deposits, and to management's knowledge, has never been explored for this commodity.
These acquisitions are part of a new project aimed at discovering economic Lithium and Tantalum deposits in Quebec. These metals, for which demand is growing, are used primarily in batteries, electronics and specialty alloys industries.
Mr. Donald Théberge, Eng., M.B.A is acting as the Company's qualified person as defined by National Instrument 43-101 and has reviewed this press release.
About Genius Properties
Genius is one Canadian mineral exploration company focused on developing projects with some of the world's most critical metals and minerals, Genius have team and potential to discover new world-class deposits. Also, Genius is the ideal partner for exploration companies and capital pool companies looking for a qualifying transaction and projects of merit.
This news release contains forward-looking information within the meaning of applicable Canadian securities laws. All information other than historical fact is forward-looking information. Forward-looking information relates to future events or future performance and is based on GNI current internal expectations, estimates, projections, assumptions and beliefs. Forward-looking information is often, but not always, identified by the use of words such as "expect", "project", "proposed", "intend", "seek", "anticipate", "budget", "plan", "continue", "estimate", "forecast", "may", "will", "predict", "potential", "targeting", "could", "might", "should", "believe" and similar expressions. Although management considers the assumptions and estimates, reflected in forward-looking information, to be reasonable, based on information currently available, there can be no assurance that such information will prove to be correct. As a consequence, actual results may differ materially from those anticipated.
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.
President and CEO