Genesis Minerals’ Drilling Results Continue to Confirm, Upgrade and Extend Key Ulysses Deposits
THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported the latest results to be received from ongoing drilling aimed at growing and upgrading the resource base at the company’s 100 per cent-owned 1.6 million ounces Ulysses gold project in Western Australia.
Genesis Minerals has been conducting RC drilling in the Admiral-Clark-Butterfly mine area targeting extensions to known deposits and to upgrade parts of the Inferred Resources to the higher-confidence Indicated category.
The recent drilling consisted of 43 shallow RC holes in the Admiral-Clark-Butterfly Mine area to extend mineralisation adjacent to known resources.
Drilling achieved shallow gold results, including:
Admiral
21USRC945
23 metres at 1.17 grams per tonne gold from 30m;
Clark
21USRC957
8m at 4.54g/t gold from 91m;
21USRC963
10m at 7.35g/t gold from 27m, including 1m at 66.1g/t gold from 27m;
21USRC961
5m at 1.67g/t gold from 0m; and
7m at 1.86g/t gold from 38m;
Butterfly North
21USRC927
3m at 1.1g/t gold from 8m; and
8m at 1.14g/t gold from 24m.
21USRC931
5m at 2.75g/t gold from 30m;
21USRC935
5m at 4.36g/t gold from 35m;
King
21USRC947
5m at 1.56g/t gold from 34m; and
41m at 1.4g/t gold from 48m.
Other drilling in the Orient well area targeted the margin of the shallow Inferred Resource and to provide an initial test of the area between the Orient Well Resource and the Orient Well East Resource.
The results from this drilling also demonstrated continued potential to substantially expand the Mineral Resource base at Ulysses and identify new mineralised positions.
“Our systematic drilling program is continuing to deliver a large volume of really positive results,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.
“Recent shallow drilling has focused in the Admiral-Clark-Butterfly mine area to upgrade part of the Inferred Resources, and has been successful in delivering results in line with expectations.
“We have also seen potential new mineralised positions emerge with the significant results at Admiral West and northeast of Orient Well.
“At Admiral West, we have seen high-grade Ulysses-style mineralisation that could represent the start of a new zone that requires follow-up.
“At Orient Well, hole 21USRC906 returned a very encouraging shallow result from very wide-spaced drilling.
“This is an area which also requires a lot more drilling.
“We have just completed a major 8,300 metres RC and diamond program at Puzzle and Puzzle North to follow up the exciting new results reported in recent months, and we are really looking forward to seeing what this area – and recent drilling at Admiral Deeps – can deliver.”
Email: info@genesisminerals.com.au
Web: www.genesisminerals.com.au