Genesis Minerals Encounters Continuous High-Grade Gold

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported results from an ongoing Reverse Circulation (RC) drilling program underway at the Clark deposit, part of the company’s recently expanded 100 per cent-owned Ulysses gold project in Western Australia.

Reverse Circulation drilling by Genesis has confirmed the presence of extensive gold mineralisation at surface at the Clark deposit with results including:

26 metres at 2.41 grams per tonne gold from 24m;

23m at 0.72g/t gold from 37m, including 6m at 1.32g/t gold from 50m;

30m at 0.55g/t gold from 0m, including 5m at 1.06g/t gold from 0m;

5m at 2.55g/t gold from 0m;

8m at 3.47g/t gold from 21m; and

11m at 2.94g/t gold from 112m, including 2m at 14g/t gold.

The high-grade intercept in 20USRC524 is located approximately 50m down-dip of the current Resource boundary at Clark.

Genesis has now completed approximately 95 holes of Resource confirmation drilling at the Admiral, Clark and Butterfly deposits, which have a combined Mineral Resource of 4.6 million tonnes at 1.7g/t gold for 246,000 ounces.

“Our maiden drilling program across the Kookynie tenements is continuing to hit the mark, with a series of impressive shallow gold intercepts in the initial drilling at the 31,000 ounces Clark deposit supporting and validating the historical drilling data which was used to underpin the current Mineral Resource Estimate,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“As with the Admiral results that we reported earlier this month, the first results from the Clark drilling have clearly established the presence of a consistent zone of shallow and continuous gold mineralisation within the current Mineral Resource envelope.

“It is not often that you see such broad widths of strong gold mineralisation so close to surface in WA, and this gives us additional confidence in the value proposition of the recently acquired Kookynie tenements – particularly given how close they sit to our existing Ulysses Resource base.

“The high-grade intercept returned in hole 20USRC524 strongly supports our interpretation that mineralisation will extend at depth in the Admiral-Clark-Butterfly area.

“This intercept is about 50 metres down-dip from the limits of the June 2020 Mineral Resource and still only about 100 metres below surface, pointing to the substantial exploration upside at these deposits as we begin to step away from the known Mineral Resources.

“Drilling is continuing at Ulysses with two RC rigs, a diamond rig and an air-core rig, while Feasibility work is progressing on schedule.”