THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported on progress of a resource upgrade and extensional drilling program underway at the company’s 100 per cent-owned Ulysses gold project in Western Australia.
Genesis Minerals said it had been encouraged by recent results from the ongoing Reverse Circulation (RC) drilling program at the Orient Well deposit, one of several cornerstone deposits currently being targeted as part of a broader drilling program currently underway.
12 metres at 1.44 grams per tonne gold from 85m; and
3m at 13.05g/t gold from 117m, including 1m at 37.2g/t gold from 117m;
9m at 1.68g/t gold from 39m;
33m at 0.76g/t gold from 68m, including 5m at 1.13g/t gold from 68m, including 5m at 2.49g/t gold from 96m;
34m at 0.81g/t gold from 75m, including 10m at 1.71g/t gold from 84m; and
25m at 0.51g/t gold from 82m.
“Orient Well continues to shape up as an important growth opportunity for the company,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.
“Importantly, the latest batch of assays are all from drilling well beyond the current 61,000 ounces Mineral Resource envelope, which bodes well for the potential Resource growth.
“The success of our drilling to date has prompted us to extend the program at Orient Well to the tune of a further 9,000 metres of drilling, as part of the upsized plus-35,000 metres program announced recently.
“Our team is continuing to do a great job of running the program in an efficient and cost-effective manner, notwithstanding the capacity constraints currently being experienced across the WA exploration sector.
“The key takeaway message for investors is that our drilling is continuing to verify and upgrade the known Resources on the Kookynie tenements and demonstrate strong potential to expand these Resources when we re-estimate the Mineral Resources early next year.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE