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Genesis Minerals’ Drilling Results Continue to Confirm, Upgrade and Extend Key Ulysses Deposits

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported the latest results to be received from ongoing drilling aimed at growing and upgrading the resource base at the company’s 100 per cent-owned 1.6 million ounces Ulysses gold project in Western Australia.

Genesis Minerals has been conducting RC drilling in the Admiral-Clark-Butterfly mine area targeting extensions to known deposits and to upgrade parts of the Inferred Resources to the higher-confidence Indicated category.

The recent drilling consisted of 43 shallow RC holes in the Admiral-Clark-Butterfly Mine area to extend mineralisation adjacent to known resources.

Drilling achieved shallow gold results, including:

Admiral

21USRC945
23 metres at 1.17 grams per tonne gold from 30m;

Clark

21USRC957
8m at 4.54g/t gold from 91m;

21USRC963
10m at 7.35g/t gold from 27m, including 1m at 66.1g/t gold from 27m;

21USRC961
5m at 1.67g/t gold from 0m; and
7m at 1.86g/t gold from 38m;

Butterfly North

21USRC927
3m at 1.1g/t gold from 8m; and
8m at 1.14g/t gold from 24m.

21USRC931
5m at 2.75g/t gold from 30m;

21USRC935
5m at 4.36g/t gold from 35m;

King

21USRC947
5m at 1.56g/t gold from 34m; and
41m at 1.4g/t gold from 48m.

Other drilling in the Orient well area targeted the margin of the shallow Inferred Resource and to provide an initial test of the area between the Orient Well Resource and the Orient Well East Resource.

The results from this drilling also demonstrated continued potential to substantially expand the Mineral Resource base at Ulysses and identify new mineralised positions.

“Our systematic drilling program is continuing to deliver a large volume of really positive results,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“Recent shallow drilling has focused in the Admiral-Clark-Butterfly mine area to upgrade part of the Inferred Resources, and has been successful in delivering results in line with expectations.

“We have also seen potential new mineralised positions emerge with the significant results at Admiral West and northeast of Orient Well.

“At Admiral West, we have seen high-grade Ulysses-style mineralisation that could represent the start of a new zone that requires follow-up.

“At Orient Well, hole 21USRC906 returned a very encouraging shallow result from very wide-spaced drilling.

“This is an area which also requires a lot more drilling.

“We have just completed a major 8,300 metres RC and diamond program at Puzzle and Puzzle North to follow up the exciting new results reported in recent months, and we are really looking forward to seeing what this area – and recent drilling at Admiral Deeps – can deliver.”

 

 

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

Genesis Minerals Drills Puzzle North Growth

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported results from ongoing exploration drilling underway at the company’s 1.6 million ounces Ulysses gold project in Western Australia.

Genesis Minerals achieved the latest results from its recently discovered Puzzle North prospect, located 700m north of the 59,000 ounce Puzzle deposit that was first reported by Genesis in April, including some of the best drilling results ever reported by Genesis in the history of the Ulysses project.

The company indicated the new results, which follow visible gold hits reported recently from the Admiral deposit, continue to highlight the upside potential across the Ulysses project, including the strong potential to make new discoveries.

Results from recent Puzzle North drilling include:

21USRC911
40 metres at 2.52g/t gold from 44m;

21USRC912
84m at 1.98g/t gold from 84m, including 10m at 6.31g/t gold from 116m, including 8m at 5.94g/t gold from 157m;

21USRC914
31m at 1.02g/t gold from 56m;

21USRC915
19m at 1.41g/t gold from 94m;

21USRC916
11m at 4.23g/t gold from 89m;

21USRC917
18m at 0.69g/t gold from 61m;

21USRC852
34m at 1.16g/t gold from 101m (extension);

21USRC852
3m at 3.4g/t gold from 148m (extension); and

21USRC855
60m at 3.03g/t gold from 106m, including 8m at 12.9g/t gold from 126m (extension).

“The Puzzle North discovery is developing into a significant zone of shallow gold mineralisation that clearly has the makings of a new open pit mine,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“The width, tenor, grade and shallow nature of the mineralisation suggests that we can quickly build ounces at Puzzle North.

“Drilling will re-commence there as soon as possible in the next few weeks with both RC and diamond drilling to be completed in enough detail to allow an initial Mineral Resource Estimate as soon as possible.

“What is really exciting for us is that some of the best results we have seen to date at Ulysses have come in the last three months as we have started in our search for significant extensions to our known resources and hunt for new discoveries.

“The recent drilling may have a significant impact on our development plan – particularly the exciting shallow results at Puzzle North and the high-grade zone at Admiral deeps – and we are considering the possibility of including these new elements in our Feasibility Study.”

 

 

 

Email: info@geneisminerals.com.au

 

Web: www.genesisminerals.com.au

 

Genesis Minerals Encounters High-Grade Visible Gold

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported results from ongoing drilling aimed at growing the resource base at the company’s 1.6 million ounces Ulysses gold project in Western Australia.

Genesis Minerals reported the latest results to include a spectacular visible gold intercept in a potential new mineralised position at the Admiral deposit and meaningful results from the Butterfly North deposit of:

21USRC878
7m at 1.6 grams per tonne gold from 49m;

21USRC879
10m at 1.57g/t gold from 5m;

21USRC882
9m at 0.63g/t gold from 17m;
15m at 1.34g/t gold from 62m;

21USRC883
28m at 1.38g/t gold from 79m;

21USRC884
41m at 1.03g/t gold from 46m, including 14m at 2.02g/t gold from 55m;
17m at 0.45g/t gold from 115m;

21USRC885
12m at 1.41g/t gold from 99m;

21USRC886
4m at 2.01g/t gold from 90m; and

21USRC888
10m at 1.66g/t gold from 160m.

Genesis is drilling within the Admiral-Clark-Butterfly mine area targeting extensions to known deposits and potential new discoveries.

The company considers the results delivered to date demonstrate potential to substantially expand the Mineral Resource base at Ulysses and identify new mineralised positions.

This was demonstrated by a high-grade visible gold intercept returned from step-out drilling at the Admiral deposit of:

21USRC89
5m @ 60.7g/t gold from 265m.

“A standout drill intercept of five metres at 60.7 grams per tonne gold is always going to make investors sit up, particularly when it is located beyond the known resource envelope within a potentially entirely new mineralised position!” Genesis Minerals managing director Michael Fowler exclaimed in the company’s ASX announcement.

“This is what we appear to have at the Admiral deposit, with the caveat that more drilling is needed to evaluate the size, orientation and significance of this high-grade position.

“The broader message is that our step-out and discovery drilling program, which is designed to build on the 1.6 million Resource announced in late March, is well underway and is off to a great start.

“We are seeing clear potential to extend known deposits as well as the opportunity to make new discoveries across a gold field that essentially has had very little exploration attention in the past few decades.

“Our systematic exploration approach is paying dividends and, if the gold is there, we are confident we will find it!

“We look forward to reporting more results in the coming weeks and months, and we are eagerly awaiting the results from a number of holes drilled in close proximity to the high-grade intercept in hole 21USRC892.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

 

Genesis Minerals Drills New Gold Zones

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported new results from ongoing resource extension, in-fill and exploration drilling underway at the company’s Ulysses gold project in Western Australia.

The latest results include assays from the recently identified Puzzle North prospect and the Orient Well deposit.

Puzzle North results include:

21USRC852
16 metres at 1.61 grams per tonne gold from 101m to end of hole;

21USRC853
106m at 0.71g/t gold from 10m, including 16m at 1.54g/t gold from 37m;

21USRC855
41m at 1.2g/t gold from 38m, including 10m at 2.77g/t gold from 62m; and

21USRC855
14m at 2.44g/t gold from 106m to end of hole.

Drilling at Orient Well returned:

21USRC836
37m at 1.07g/t gold from 60m, including 8m at 2.02g/t gold from 70m;

21USRC838
21m at 0.81g/t gold from 121m, including 7m at 1.34g/t gold from 135m;

21USRC839
5m at 2.97g/t gold from 40m; and

21USRC839
1m at 67.8g/t gold from 67m.

Genesis Minerals said the results had continued to highlight the upside potential across the Ulysses project, including the potential to expand existing Resources (including all deposits within the recently acquired Kookynie group of tenements) and make new discoveries.

“The fact that we are continuing to generate exciting results on multiple fronts is testament to the enormous upside at Ulysses,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“Recent drilling has identified an exciting new area at Puzzle North, where our initial shallow drilling has already defined a significant zone of shallow mineralisation that already looks like it has the makings of a new deposit.

“We have also firmed up a significant exploration target along the Puzzle granite greenstone contact which could well yield further discoveries.

“The 189,000 ounces Orient Well deposit is also continuing to grow, with successful in-fill and extensional drilling delivering some exciting results.

“Drilling will continue to systematically unlock the broader potential at Ulysses over the coming months, laying the foundations for a further resource upgrade later this year.

“Our development studies are continuing with the Feasibility Study due this quarter.”

 

 

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

 

Genesis Minerals Increases Ulysses to 1.6 Million Ounces

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) delivered an updated Mineral Resource Estimate for the company’s 100 per cent-owned Ulysses gold project near Leonora in Western Australia.

Genesis Minerals reported the updated Mineral Resource Estimate dispenses a 26 per cent increase in contained ounces to approximately 1.6 million ounces of gold.

The updated incorporates results of drilling programs completed at the Ulysses project over the second half of 2020 following the acquisition of the Kookynie tenements.

The updated Measured, Indicated and Inferred Mineral Resource now totals 27.3 million tonnes at 1.8 grams per tonne gold for 1,608,000 ounces of contained gold, which represents an increase of 327,000 ounces over the previous June 2020 Mineral Resource.

Contributions to the new estimate, include:

Admiral-Butterfly-Clark Group Deposits:

Total combined Mineral Resource for Admiral Group deposits increased by 87 per cent (213,000 ounces) to 459,000 ounces; and

Orient Well Group Deposits:

Total combined Mineral Resource for Orient Well Group deposits increased by 305 per cent (186,000 ounces) to 247,000 ounces.

“This is a result that confirms the scale and quality of the Ulysses project, reflecting the outcomes of the highly-successful drilling programs completed over the expanded project area over the past six months,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“It’s been a fantastic effort and I would like to thank and commend everyone involved on delivering this result.

“The updated Mineral Resource will now form the foundation of our ongoing Feasibility Study on a standalone gold project at Ulysses, which is on-track for delivery next Quarter and is expected to potentially comprise both an open pit and underground mining operation.

“We were very pleased to see a strong increase in the Measured and Indicated components of the Resource, which now total 984,000 ounces, providing a strong foundation from which to deliver our maiden Ore Reserve.

“This Resource will continue to be updated, with strong growth potential.

“Drilling is continuing and a further update is expected late this year.

“This puts Genesis firmly on track to become a substantial player in the mid-tier gold space, and we are looking forward to adding further significant value to the Ulysses project over the coming months and ultimately advancing it towards development and production.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

 

 

 

Genesis Minerals Scores New High-Grade Hits at Orient Well

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported new results from ongoing infill and extensional resource drilling at the Orient Well deposit, one of the cornerstone deposits at the company’s 100 per cent-owned Ulysses gold project near Leonora in Western Australia.

The drilling Genesis Minerals has completed at Orient Well to date is part of a large program designed to expand and upgrade the existing 61,000 ounces Mineral Resource.

Results to date have demonstrated strong potential to grow the existing Resource with a number of recent results from areas outside the current Resource.

New assay results include:

20USRC661
27 metres at 0.78 grams per tonne gold from 41m, including 10m at 1.44g/t gold from 41m;

20USRC664
20m at 0.73g/t gold from 25m;

20USRC665
22m at 0.73g/t gold from 49m, including 5m at 1.17g/t gold from 64m; and

20USRC666
7m at 4.02g/t gold from 68m, and
14m at 6.53g/t gold from 101m, including 1m at 78.92g/t gold from 101m.

The company indicated these results will feed into updated Mineral Resource estimates that will underpin a Feasibility Study on the development of a standalone gold operation at Ulysses, with ore to be sourced from a combination of known underground and open pit Resources.

“The hits just keep coming at Orient Well and the other deposits within the newly acquired Kookynie Group of tenements,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“The latest batch of assays from Orient Well include some excellent results – including both high-grade hits and many broader zones of strong gold mineralisation.

“Importantly, many of the new results are outside the existing 61,000 ounces Resource, and this shows that we have plenty of room to grow this deposit, both as a bulk mining proposition and with strong potential for high-grade zones.

“Drilling continues across the greater Ulysses project, with one RC rig currently on site focusing on extensional drilling.

“We remain on track to deliver an updated project-wide JORC Mineral Resource in the first quarter of 2021, which will underpin the completion of a Feasibility Study and provide a solid platform from which to progress the development of a significant new standalone gold mining and processing operation at Ulysses.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

Genesis Minerals Confirms Ulysses Resource Growth Potential

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) released results from ongoing Resource drilling at the company’s Ulysses gold project in Western Australia.

Genesis Minerals declared the results had confirmed the potential to expand and upgrade existing Resources within the Ulysses project, including all deposits within the recently acquired Kookynie group of tenements.

The latest highly-encouraging results were from Reverse Circulation (RC) drilling completed prior to Christmas at both the Orient Well and Butterfly-Clark deposits.

The drilling at Orient Well was part of a large program designed to expand and upgrade the existing 61,000-ounce Mineral Resource, where results received to date have demonstrated strong potential to grow the existing Resource.

All of the latest results are from areas outside the current Resource.

Drilling on the Clark-Butterfly area focused on an area targeting the Hercules and Clark shears and also focused on upgrading parts of the Inferred Resource at Butterfly.

“This is a great way to start the New Year, with another batch of impressive assay results from both the Orient Well and Butterfly-Clark areas,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“At Orient Well, all of the new results are from outside the current 61,000-ounce Resource and show clear potential to grow this Resource.

“At Clark-Butterfly, recent drilling has focused on the potential of the Hercules and Clark shears and also intersected significant mineralisation outside the known deposits.

“Drilling has now re-commenced across the greater Ulysses project with one RC rig currently on site.

“We expect to deliver an updated project-wide Mineral Resource in the first quarter of 2021, which will underpin the completion of a Feasibility Study and provide a solid platform from which to progress the development of a significant new standalone gold mining and processing operation at Ulysses.”

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

Genesis Minerals Confirms Kookynie Growth Potential

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) continued to report encouraging drilling results from the company’s Ulysses gold project, in particular within the recently acquired Kookynie group of tenements.

The latest results stem from initial Reverse Circulation (RC) drilling at the Butterfly deposit and diamond drilling at Butterfly as well as at the Admiral deposit.

Drilling has confirmed high-grade gold mineralisation at the Butterfly deposit, which is located south-east of the Ulysses gold deposit.

Assay results include:

20USDH149
5.17 metres at 3.03 grams per tonne gold from 121.76m;

20USDH150
10.82m at 5.22g/t gold from 122.49m;

20USRC515
14m at 2.09g/t gold from 117m;

20USRC525
14m at 1.54g/t gold from 150m;

20USRC527
2m at 15.09g/t gold from 175m including 1m at 29.48g/t gold from 175m; and

20USRC529
6m at 2.41g/t gold from 107m.

Drilling at the Admiral deposit encountered further high-grade mineralisation, including:

20USDH141
2.25m at 7.35g/t gold from 146.08m;

20USDH146
7.6m at 4.00g/t gold from 110.7m;

20USDH147
10.5m at 1.59g/t gold from 66.5m;

20USDH147
7.71m at 2.16g/t gold from 121.79m;

20USDH148
10m at 5.74g/t gold from 75m;

20USRC566
3m at 6.06g/t gold from 81m; and

20USRC588
10m at 3.51g/t gold from 30m.

The drilling was designed to confirm and upgrade zones of mineralisation that are included in the current Butterfly and Admiral Mineral Resources, as well as testing potential extensions to the Mineral Resources.

Drilling was also completed for metallurgical and geotechnical test work.

Results from this program will feed into updated Mineral Resource estimates that will underpin a Feasibility Study on the development of a standalone gold operation at Ulysses, with ore to be sourced from a combination of known underground and open pit Resources.

“These are highly encouraging results from both the Butterfly and Admiral deposits, which indicate a significant opportunity to expand and upgrade the existing Resources across this area to potentially underpin a single, large open pit mining operation,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“Drilling is continuing across the greater Ulysses project with two RC rigs and a diamond rig operating until Christmas, with planning also well advanced for drilling in early 2021.

“We expect to deliver an updated project-wide Mineral Resource in the first quarter of 2021, which will underpin the completion of our feasibility study and provide a solid platform from which to progress the development of a significant new standalone gold mining and processing operation at Ulysses.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

Genesis Minerals Drills Growth Potential at Orient Well

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported on progress of a resource upgrade and extensional drilling program underway at the company’s 100 per cent-owned Ulysses gold project in Western Australia.

Genesis Minerals said it had been encouraged by recent results from the ongoing Reverse Circulation (RC) drilling program at the Orient Well deposit, one of several cornerstone deposits currently being targeted as part of a broader drilling program currently underway.

Results include:

20USRC563
12 metres at 1.44 grams per tonne gold from 85m; and
3m at 13.05g/t gold from 117m, including 1m at 37.2g/t gold from 117m;

20USRC564
9m at 1.68g/t gold from 39m;

20USRC567
33m at 0.76g/t gold from 68m, including 5m at 1.13g/t gold from 68m, including 5m at 2.49g/t gold from 96m;

20USRC569
34m at 0.81g/t gold from 75m, including 10m at 1.71g/t gold from 84m; and

20USRC571
25m at 0.51g/t gold from 82m.

“Orient Well continues to shape up as an important growth opportunity for the company,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“Importantly, the latest batch of assays are all from drilling well beyond the current 61,000 ounces Mineral Resource envelope, which bodes well for the potential Resource growth.

“The success of our drilling to date has prompted us to extend the program at Orient Well to the tune of a further 9,000 metres of drilling, as part of the upsized plus-35,000 metres program announced recently.

“Our team is continuing to do a great job of running the program in an efficient and cost-effective manner, notwithstanding the capacity constraints currently being experienced across the WA exploration sector.

“The key takeaway message for investors is that our drilling is continuing to verify and upgrade the known Resources on the Kookynie tenements and demonstrate strong potential to expand these Resources when we re-estimate the Mineral Resources early next year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

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