Genesis Minerals purchases Anglo’s Viking project

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) has purchased the Viking project group 2 tenements of AngloGold Ashanti Australia (ASX: AGG).

The project comprises a landholding in the Proterozoic Albany-Fraser Orogen and adjoining eastern margin of the Archaean Yilgarn Craton in the same mineral province that has delivered the Tropicana gold and Nova-Bollinger nickel discoveries.

The Viking project has already been subjected to a limited amount of
drilling during 2012 and 2013, which was focused on the Beaker prospect.

Beaker 4 cross section. Source: Company announcement

Results returned from the Beaker 4 anomaly included:

1.8 metres at 15.3 grams per tonne gold from 56 metres, including 0.54 metres at 45.7 grams per tonne gold in BKD009;

2.3m at 5.8g/t gold from 96.4m in BKD010; and

0.6m at 14.3g/t gold from 104.4m in BKD010.

Genesis
indicated systematic drilling testing of the Beaker 4 anomaly will be a
high priority for the company during its upcoming exploration program. 

“The acquisition of the Viking project is a result of our strategy to acquire high-quality gold and copper projects in South America and Australia,” Genesis Minerals managing director Michael Fowler said in the copany’s announcement to the Australian Securities Exchange.

“The project offers Genesis the unique opportunity to define shallow, high-grade gold resources capable of being rapidly advanced towards development in a new geological terrane.

“Genesis will take advantage of the high-quality $5 million dataset and near surface drill targets that have been rapidly generated by AngloGold Ashanti over the past two years by systematically testing a number of the highly ranked targets.”

Email: info@genesisminerals.com.au

Website: www.genesisminerals.com.au