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Genesis Minerals Ltd.
Summary
| Project: | Ulysses | |
|---|---|---|
| Deposit: | Ulysses West | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/9/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 9-9-2019: Genesis Minerals Ltd. announces an Exploration/Drilling Update report for its Ulysses West deposit at the Ulysses project. Drilling results incl. 9.05m @ 9.94g/t Au from 142.15m. Genesis Minerals Limited (ASX: GMD) is pleased to advise that it h | |
| 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 significant highgrade gold mineralisation from recently commenced resource upgrade drilling from within and adjacent to the 760,000oz Ulysses Mineral Resource at its 100%-owned Ulysses Gold Project, located 30km south of Leonora in WA. Initial assay results from the recently commenced drilling program have been received from drilling at Ulysses West (western side of Resource) targeting between the 350mRL to 200mRL up to 200m below surface and some 300m down-plunge of the Ulysses West pit. Drilling is targeting areas within and adjacent to the current Resource boundary. A further 15,000m of drilling will be completed over the coming few months to upgrade the top 200m of the resource in preparation for mining. Drilling will target approximately 1,000m of strike and some 300m of down-dip extent within and adjacent to the current Resource envelope. Genesis Managing Director, Michael Fowler, said “Drilling has resumed and is now in full swing at Ulysses, with two rigs now operating to in-fill and extend the main Resource. A third rig should arrive over the next few weeks to speed up the program, which is essentially designed to upgrade the Resource in preparation for mining. “The initial focus will be on upgrading the upper 200m of the Resource, although we will in time further test the edges of the Resource and further investigate potential down-plunge and strike extensions and repetitions. All of the information from the current program will be combined with recent drilling for inclusion in a Resource upgrade planned for Q4 this year.” | |
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