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Genesis Minerals Ltd.
Summary
| Project: | Ulysses | |
|---|---|---|
| Deposit: | Ulysses | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 25-1-2018: Genesis Minerals Ltd. announces an Exploration/Drilling Update report for its Ulysses deposit at the Ulysses project. Drilling results incl. 4.62m @ 20.36g/t Au from 166.6m. Genesis Minerals Limited (ASX: GMD) is pleased to advise that work has | |
| Resources: | (Resource, Total): 2.8Mt @ 2.3g/t Au for 206400oz Au contained at Ulysses | |
| CP/QP: | [Overall Report]: Michael Fowler (Internal) | |
| ABSTRACT: | Genesis Minerals Limited (ASX: GMD) is pleased to advise that work has commenced on an updated Mineral Resource for its 100%-owned Ulysses Gold Project, located 30km south of Leonora in WA, with the final batch of assays from the recently completed drilling program confirming the project’s scale and significant growth potential. A total of 58 holes for 10,239m comprising 9,614m of Reverse Circulation (RC) drilling and 625m of diamond drilling were completed at Ulysses between September and December 2017 as part of the resource in-fill and extensional program being undertaken to evaluate the potential for long-term underground mining. Results for the first 24 holes were reported towards the end of last year, including a series of impressive high-grade intercepts which confirmed the continuity of the deeper mineralisation below the open pit and current Mineral Resource (Measured, Indicated and Inferred: 2.8Mt at 2.3g/t for 206,400oz of contained gold). Results for the final 23 RC holes (17USRC152 to 17USRC174, 4,415m) and 11 diamond holes (17USDH001 to 17USDH002 and 17USDH004 and 17USDH012) have now been returned (see Figures 1 and 2 below) and are consistent with the initial positive results, confirming the presence of high-grade mineralisation at mineable widths well below and outside of the current Mineral Resource boundaries. | |
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