THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported drilling results from the company’s 100 per cent-owned Ulysses gold project, located south of Leonora in Western Australia.
Genesis Minerals is progressing an exploration program targeting extensions of the main Ulysses 760,000-ounce Mineral Resource in parallel with an expanding regional exploration campaign.
Recent Reverse Circulation (RC) drilling intersected further mineralisation at Orient Well NW 10 kilometres east of the above-mentioned Ulysses Mineral Resource, which the company deems to highlight potential to delineate shallow Resources in the area that could potentially be amenable to extraction via open pit methods.
The latest results confirm a strong zone of shallow gold mineralisation with assays including:
37 metres at 2.27 grams per tonne gold from 83m, including 11m at 6.16g/t gold from 91m;
32m at 1.8g/t gold from 50m, including 5m at 8.04g/t gold from 50m;
20m at 1.18g/t gold from 53m, including 7m at 2.66g/t gold from 59m; and
6m at 1.85g/t gold from 72m.
“Our recent drilling success at Orient Well shows just how prospective our broader tenement package is,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.
“We have only completed relatively limited regional drill programs outside of the Ulysses deposit and we have already generated sufficient data to underpin a potential open pit Resource at this emerging prospect.
“The upcoming aircore program will target further open pittable resources along a five-kilometre long prospective target zone which has had very limited exploration and is under transported cover.
“We are particularly encouraged by the fact that the high-grade mineralisation discovered in the Orient Well NW corridor to date is associated with felsic rocks which differ to the mafic-dominated host rocks of the Ulysses Resource.
“This reinforces the potential to define significant mineralisation throughout the Ulysses project.”