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Genesis Resources Ltd.
Summary
| Project: | Plavica | |
|---|---|---|
| Deposit: | Plavica | |
| Location: | Macedonia | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 11/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 17-11-2017: Genesis Resources Ltd. announces a Resource Estimation report for its Plavica deposit at the Plavica project. Updated mineral resource for Plavica project. Genesis Resources Limited (ASX:GES) (Genesis or the Company) is pleased to announce an | |
| Resources: | (Resource, Total): 37.4Mt @ 0.77ppm Au 6.5ppm Ag, 680 ppm As, 300ppm Cu, 2.3% S at project | |
| CP/QP: | [Resources]: Richard Gaze (Golder Associates) | |
| ABSTRACT: | Genesis Resources Limited (ASX:GES) (Genesis or the Company) is pleased to announce an updated Mineral Resource estimate, prepared in accordance with The JORC Code, 2012 Edition, for the Plavica Project in Macedonia. The total Measured, Indicated and Inferred Mineral Resources as at November 2017 are estimated at 37.4 million tonnes (MT) at 0.77 grams per tonne of gold (ppm Au) containing 926,000 ounces of gold and 7.7 M ounces of silver (Table 1). This material is all within oxide and partial oxide (transitional) material which metallurgical testwork shows is recoverable by heap leaching methods. This resource represents an upgrade of 18 % on the total ounces of the same material reported last year (Dec 2016). The primary mineralisation (non oxidised) component was not targeted in 2017. The resource estimate follows a series of reverse circulation and diamond drilling campaigns completed to define mineralisation along both the main Plavica ridge and Maricanski Rid. Mineralisation is continuous for over 1km at Plavica and 700m at Maricanski Rid and has been drilled to depths of over 300m. Mineral Resources were classified in accordance with guidelines provided in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). | |
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