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Genesis Minerals Ltd.
Summary
| Project: | Ulysses | |
|---|---|---|
| Deposit: | Ulysses | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 12-4-2017: Genesis Minerals Ltd. announces an Exploration/Drilling Update report for its Ulysses deposit at the Ulysses project. Drilling results incl. 61m @ 0.7g/t Au from 50m. aircore and Reverse Circulation (RC) drilling at its 100%-owned Ulysses Gold | |
| Resources: | (Resource, I+I): 2.13Mt @ 2.2g/t Au for 151500oz Au at project | |
| CP/QP: | [Overall Report]: Michael Fowler (Internal) | |
| ABSTRACT: | aircore and Reverse Circulation (RC) drilling at its 100%-owned Ulysses Gold Project near Leonora in Western Australia, have confirmed strong potential for the discovery of new zones of economic gold mineralisation. At Ulysses East, wide spaced first pass RC drilling comprised 18 holes for 1,498m (shown as lightblue squares in Figure 1) targeting the recently-defined Ulysses East aircore gold anomaly. This drilling defined a coherent zone of east west trending, north-dipping mineralisation over 200m of strike in the central portion of the Ulysses East anomaly. This mineralisation remains completely open along strike and at depth, and to date has been hosted entirely within basalt. The wide spaced aircore drilling was designed to test a number of strike-parallel targets to the main mineralised trend at Ulysses, as well as several new areas not tested in recent drill programs. The aircore drill program comprised 96 wide-spaced holes for 6,147m, and tested Orient Well NW located ~10km east of the Ulysses Resource; the Ulysses North zone located immediately north of the Ulysses Resource; and Ulysses NW located ~4km north-west of the Ulysses Resource (see Figure 1). Drilling at Orient Well NW was targeting a similar structural position to Ulysses but on the eastern side of the Ulysses-Orient Well mineralised corridor, in the zone where the east west trending stratigraphy changes orientation to ESE/SE (as opposed to the Ulysses area where it changes to a WNW/NW trend) (Figure 2). Best results from Orient Well NW included 61m @ 0.70g/t gold (including 15m @ 2.15g/t gold) and 4m @ 0.52g/t gold. | |
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