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Genesis Minerals Ltd.
Summary
| Project: | Viking | |
|---|---|---|
| Deposit: | Viking | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/13/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 13-12-2016: Genesis Minerals Ltd. announces an Exploration/Drilling Update report for its Viking deposit at the Viking project. Drilling results incl. 5m @ 44.5g/t Au from 50m. Genesis Minerals Limited (ASX: GMD) is pleased to advise that the recently com | |
| Resources: | (Reserve, Prob): 74000t @ 4.1g/t Au for 9700oz Au contained at Ulysses West | |
| CP/QP: | [Overall Report]: Michael Fowler (Internal) | |
| ABSTRACT: | Genesis Minerals Limited (ASX: GMD) is pleased to advise that the recently completed maiden aircore drilling program at the highly prospective 100%-owned Viking Gold Project, located near Norseman in Western Australia (see Figure 1), has returned highly encouraging results. The results included an impressive high-grade intercept of 5m grading 44.5g/t Au – an outstanding result for early-stage aircore drilling – at the Beaker 2 prospect. The results have confirmed that Beaker 2 represents a priority target for follow-up exploration and resource delineation drilling. Three target areas were drilled as part of the recently completed program, which comprised a total of 71 aircore holes for 2,700m. The results overall have confirmed that the Viking Project represents a very attractive discovery opportunity located in the under-explored southern sector of the world-class Albany-Fraser Orogen – a major geological province which also hosts the Tropicana gold deposit and the Nova-Bollinger nickel deposit. With mining continuing at the Company’s Ulysses Gold Project near Leonora up until Christmas, Genesis expects to receive a steady income over the next two months. This will put the Company in a strong position next year to ramp-up exploration at Viking and targeting extensional and growth opportunities at Ulysses. The next phase of aircore and RC drilling at Viking is anticipated to commence early next year. Previous exploration at Viking has delineated several advanced gold prospects, including the Beaker 2 and Beaker 4 prospects and Dr Bunsen geochemical anomaly. The recently completed aircore drilling program consisted of 71 holes for a total of 2,700m of drilling. All three target areas were evaluated to define targets for deeper Reverse Circulation (RC) drilling targeting primary gold mineralisation. Detailed results of the aircore drilling are presented in this release. | |
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