Genesis Minerals confirms Viking Mineralisation

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) has received results of a drill program completed at the company’s Viking gold project in Western Australia in December 2014.

The sixteen-hole RC program targeted the Beaker 2 and Beaker 4 gold zones, which form part of the Beaker gold prospect.

At Beaker 2 eleven RC holes were completed centred on a plus-100 metre wide sub horizontal blanket of oxide mineralisation Genesis had defined by RC drilling in September 2014.

The drilling intersected wide zones of shallow oxide mineralisation at Beaker 2 including:

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20 metres at 1.71 grams per tonne gold from 10 metres;

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5m at 0.57g/t gold from 20m and 10m at 2.12g/t gold from 40m; and

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15m at 0.61g/t gold from 10m.

 

Beaker 2 Cross Section. Source: Company announcement

 

“Drilling intersected deeply weathered zones of saprolite containing zones of quartz veining,” Genesis Minerals said in its ASX announcement.

“An exciting aspect of the gold mineralisation at Beaker 2 is that it wraps around the eastern edge of a large magnetic intrusion which is spatially coincident with the broader Beaker prospect.”

Genesis explained drilling activity over the next 3 months will include extensional, infill and deeper drilling to identify the source of primary mineralisation prior to completing a resource estimate in the June 2015 quarter.

Drilling at Beaker 4 continued to focus on the Beaker 4 West structure, the western most structure currently defined at the Beaker 4 anomaly.

The high-grade gold surface was tested by a further 4 holes with results returned including:

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10m at 0.78g/t gold from 120m; and

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5m at 1.06g/t gold from 75m.

The company said it anticipates 1m splits from these intersections may report high-grade gold mineralisation in zones of quartz veining.

The high-grade gold shoot identified to date on the Beaker 4 West structure remains open.

Genesis said this requires further testing particularly at depth.

In addition to the follow-up drilling at Beaker 4 and Beaker 2, the company has further exploration lined up in the coming months, which will target the strike extent of known mineralisation at the Beaker prospect as well as 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