Genesis Minerals Drills New Gold Zones

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported new results from ongoing resource extension, in-fill and exploration drilling underway at the company’s Ulysses gold project in Western Australia.

The latest results include assays from the recently identified Puzzle North prospect and the Orient Well deposit.

Puzzle North results include:

16 metres at 1.61 grams per tonne gold from 101m to end of hole;

106m at 0.71g/t gold from 10m, including 16m at 1.54g/t gold from 37m;

41m at 1.2g/t gold from 38m, including 10m at 2.77g/t gold from 62m; and

14m at 2.44g/t gold from 106m to end of hole.

Drilling at Orient Well returned:

37m at 1.07g/t gold from 60m, including 8m at 2.02g/t gold from 70m;

21m at 0.81g/t gold from 121m, including 7m at 1.34g/t gold from 135m;

5m at 2.97g/t gold from 40m; and

1m at 67.8g/t gold from 67m.

Genesis Minerals said the results had continued to highlight the upside potential across the Ulysses project, including the potential to expand existing Resources (including all deposits within the recently acquired Kookynie group of tenements) and make new discoveries.

“The fact that we are continuing to generate exciting results on multiple fronts is testament to the enormous upside at Ulysses,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“Recent drilling has identified an exciting new area at Puzzle North, where our initial shallow drilling has already defined a significant zone of shallow mineralisation that already looks like it has the makings of a new deposit.

“We have also firmed up a significant exploration target along the Puzzle granite greenstone contact which could well yield further discoveries.

“The 189,000 ounces Orient Well deposit is also continuing to grow, with successful in-fill and extensional drilling delivering some exciting results.

“Drilling will continue to systematically unlock the broader potential at Ulysses over the coming months, laying the foundations for a further resource upgrade later this year.

“Our development studies are continuing with the Feasibility Study due this quarter.”