Genesis Minerals Hits Wide Zones of Shallow Gold Mineralisation

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

Genesis Minerals said the RC drilling has confirmed the presence of extensive gold mineralisation at the Orient Well deposit, on the recently acquired Kookynie tenements over a 1.2 kilometres strike length, with results including:

20USRC538
9 metres at 2.18 grams per tonne gold from 16m;

20USRC539
5m at 8.24g/t gold from 35m; and

20USRC540
22m at 0.74g/t gold from 15m, including 5m at 2.03g/t gold from 32m.

The drilling results include 27 holes recently drilled of 53 holes drilled to date with results encountering mineralisation outside the current Orient Well 1.5 million tonnes at 1.3g/t gold for 61,000 ounces Mineral Resource envelope.

The company made note of a further wide intercept:

20USRC543
22m at 1.63g/t gold from 155m;

Saying this highlights the potential for substantial mineralisation at depth.

“Orient Well is the third deposit within the recently acquired Kookynie tenements that we have started to systematically drill test,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“As we found at the Admiral and Clark deposits from the results released in recent weeks, the drilling supports the historical data and validated the information that was used to produce the JORC compliant Mineral Resources.

“As with the other two deposits, we are also seeing considerable upside from potential extensions of the known mineralisation.

“In the case of Orient Well, 19 of the 27 holes reported in this announcement are outside of the known Resource envelope – a very exciting development!

“The wide zone of strong gold mineralisation returned from 20USRC543 at depth clearly supports our interpretation that gold mineralisation will extend at depth.

“Given the shallow depth of the historical drilling there is substantial exploration upside along the entire 1.8 kilometres of strike.

“Drilling immediately south of the Orient Well open pit has also intersected shallow gold mineralisation over 300 metres of strike in the area drilled to date – which represents a great opportunity to define immediate oxide open pittable Resources.

“The outstanding success of the program to date more than justifies our decision to expand the program by 40 per cent, or 10,000 metres to plus-35,000 metres.

“We will soon have four rigs working – two RC rigs, a diamond rig and an air-core rig, which will keep us extremely busy right up until Christmas!”

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au