For thousands of other reports visit RSC's Mineral Intellingence Map
Genesis Minerals Ltd.
Summary
| Project: | Ulysses | |
|---|---|---|
| Deposit: | Ulysses | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/14/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 14-1-2019: Genesis Minerals Ltd. announces an Exploration/Drilling Update report for its Ulysses deposit at the Ulysses project. Drilling results incl. 20.0m @ 9.10g/t Au from 50.0m. Genesis Minerals Limited (ASX: GMD) is pleased to advise that it has int | |
| Resources: | (Resource, Total): 7.1Mt @ 3.3g/t Au for 760koz contained at Ulysses | |
| CP/QP: | [Overall Report]: Michael Fowler (Internal) | |
| ABSTRACT: | Genesis Minerals Limited (ASX: GMD) is pleased to advise that it has intersected further significant shallow oxide mineralisation at the Orient Well NW prospect (see Figures 1 to 3), located 10km east of the 760,000oz Ulysses Mineral Resource at its 100%-owned Ulysses Gold Project, 30km south of Leonora in WA. The new results have significantly increased the Company’s confidence in the emerging oxide opportunity at Orient Well NW, which is the first satellite prospect to be drilled outside of the existing Resource – which has been the main focus of drilling to date. The recent drilling at Orient Well NW returned a best result of 20m @ 9.10g/t gold and a number of wide zones of lower grade mineralisation including 5m @ 1.52g/t gold within a broader zone of 28m @ 0.69g/t gold and 8m @ 1.80g/t gold. The drilling has highlighted 1.5km of highly prospective strike which will be systematically tested for potential open pittable Mineral Resources in the first half of 2019. This mineralised strike remains open. Meanwhile, further high-grade results have been returned from the ongoing extensional drilling at the main Ulysses Deposit. The latest results continue to highlight the potential for significant extensions to the current Mineral Resource as drilling continues to scope out the broader mineralised system along the Ulysses Shear. Genesis Managing Director Michael Fowler said: “The outstanding results generated from shallow RC drilling at Orient Well NW show just how under-explored the broader Ulysses Project is. We have now outlined a very prospective oxide zone which spans a strike length of at least 1.5km. Achieving intercepts such as 20m at 9g/t Au in a completely greenfields position is an outstanding result, and we are really looking forward to drilling out this satellite prospect to a Resource level during the first half of 2019. “At the same time, we have now received the remaining results from extensional drilling completed at Ulysses last year following the updated 760,000oz Mineral Resource announcement. The assays have identified step-outs to the mineralisation at Ulysses East and confirmed the presence of a potential new high-grade shoot position which needs to be systematically drill tested at depth. “Drilling will resume at Ulysses at the end of the month, initially with one rig focusing on extensions at Ulysses and drilling out Orient Well NW. We will progressively bring more rigs online as the results begin to flow. Our overall objective is to deliver another upgrade to the Ulysses Mineral Resource by the end of Q2 2019.” | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report