Genesis Minerals Encounters Thick Shallow Gold Zones
THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported recent drilling from the company’s Barimaia Joint Venture gold project in the Murchison District of Western Australia.
Genesis Minerals said the drilling had continued to confirm and define a shallow gold mineralisation system with strong open pit potential at the Barimaia JV.
The company has received results from a 21-hole/2,140m Reverse Circulation (RC) drilling program it completed late last year, which it considers has further enhanced the prospectivity of the project.
Thick zones of mineralisation were intersected with results including:
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74 metres at 0.66 grams per tonne gold from 59m, including 8m at 1.44g/t gold from 59m, including 7m at 1.79g/t gold from 77m, including 5m at 2.18g/t gold from 106m;
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26m at 1.15g/t gold from 17m, including 11m at 2.21g/t gold from 18m and 6m at 2.56g/t gold from 103m, including 1m at 12.6 gold from 107m;
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29m at 0.84g/t gold from 43m, including 8m at 2.08g/t gold from 63m and 28m at 0.71g/t gold from 90m, including 6m at 1.44g/t gold from 102m;
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14m at 0.87g/t gold from 77m;
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12m at 1.61g/t gold from 93m;
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11m at 1.08g/t gold from 82m, including 2m at 1.38g/t gold from 82m, including 2m at 4.23g/t gold from 90m and 3m at 1.64g/t gold from 104m; and
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17m at 0.94g/t gold from 51m o including 9m at 1.38g/t gold from 57m.
“We are very encouraged by the potential we now see at Barimaia to define a very large shallow gold system,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.
“The application of a new geological interpretation based on an east-west orientation of the controlling structures has allowed us to turn the rig around and deliver some broad zones of gold mineralisation over a very extensive area.
“We now see clear potential to define shallow gold resources with strong open pit potential within a one-kilometre long corridor that has been tested with wide-spaced drilling to date.
“What is particularly exciting is the fact that there is over four kilometres of strike of the same controlling structure to be systematically drill tested.
“Given its strategic location in a region with proven gold endowment, as highlighted by the nearby Mt Magnet gold mine, Barimaia remains a great growth opportunity for the company, and we are looking forward to getting back with more drilling this year to allow us to define an initial JORC Mineral Resource while also continuing to test the broader gold trend.
“Our focus remains squarely on advancing our flagship Ulysses gold project near Leonora as quickly as we can, but this is not a bad second string to have to our bow, and we’ll be doing as much as we possibly can to unlock its value for our shareholders.”
Email: info@genesisminerals.com.au
Website: www.genesisminerals.com.au