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Genesis Minerals Ltd.
Summary
| Project: | Ulysses | |
|---|---|---|
| Deposit: | Ulysses | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 6-9-2017: Genesis Minerals Ltd. announces an Exploration/Drilling Update report for its Ulysses deposit at the Ulysses project. Drilling results incl. 10m @ 6.42g/t Au from 128m. Genesis Minerals Limited (ASX: GMD) is pleased to announce that it has confi | |
| 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 announce that it has confirmed the potential to develop a long-term underground mine at its 100%-owned Ulysses Gold Project, located 30km south of Leonora in WA, after receiving further highly encouraging results from deep drilling targeting downplunge extensions of the existing resource. The latest phase of drilling, comprising 8 Reverse Circulation (RC) holes for 1,505m, has reinforced and extended the mineralisation intersected in the deeper drilling reported on 3 July 2017, which confirmed the potential for significant high-grade mineralisation at depth directly below the Ulysses and Ulysses West open pits and the existing 206,400oz Mineral Resource. Drilling has now confirmed that the Ulysses West shoot has a plunge extent of more than 400 metres and remains open at depth, with the recent drilling continuing to improve the Company’s understanding of the geological controls on the high-grade mineralisation. The new results all sit outside the 206,400oz Mineral Resource and open up a significant untested area to be targeted by further drilling. | |
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