Genesis confirms high-grade gold at Beaker

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) has received results of the initial drill program recently completed at the company’s Viking gold project in Western Australia.

A thirteen-hole confirmatory RC program targeted the Beaker 4 and Beaker 2 gold zones which form part of the Beaker gold prospect.

 

Viking project location with regional geochemistry on 1VD magnetic image. Source: Company announcement

 

According to Genesis the initial shallow drilling at Beaker 4, which focused on the Beaker 4 West structure, the western most structure currently defined at the Beaker 4 anomaly, confirmed high-grade gold mineralisation.

Best results included:

14VKRC001:
7 metres at 4.02 grams per tonne gold from 31 metres; and

14VKRC002:
6m at 6.04g/t gold from 73m, including 3m at 11.35g/t gold.

Genesis said the drilling highlighted a north-south trend to the Beaker 4 West structure with gold mineralisation open along strike and at depth.

The company expects future drilling at the Beaker 4 West structure will target the depth and strike extents of the Beaker 4 West structure.

“The initial results at Viking are extremely promising and validate the company’s belief in the project and its geological model,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“Our small, first program of drilling at Viking confirmed the excellent potential of this project.

“This potential is demonstrated by the wide zones of oxide gold mineralisation returned in the limited drilling completed so far, as well as the confirmation of the high-grade structural targets that require systematic drill testing.”

At Beaker 2 three RC holes were drilled across part of a strike extensive Beaker 2 air core-defined gold anomaly, which Genesis described to wrap around the eastern edge of a magnetic intrusion which is spatially associated with the Beaker prospect.

Wide zones of near-surface oxide mineralisation were intersected at Beaker 2 including:

14VKRC009;
20m at 0.74g/t gold from 10m, including 5m at 1.88g/t gold;

14VKRC010:
20m at 0.59 g/t gold from 5m, including 5m at 1.91g/t gold; and

14VKRC011:
15m at 0.42g/t gold from 15m.

Genesis is confident potential exists to define a large oxide gold system associated with a high-grade vein system.

In addition to follow-up drilling at Beaker 4 and Beaker 2, the company plans further exploration in the coming months targeting at the strike extends of known mineralisation at the Beaker prospect.

Genesis indicated it will also commence the assessment of a number of the auger-defined gold anomalies throughout the Viking project.

Email: info@genesisminerals.com.au

Website: www.genesisminerals.com.au