Genesis Minerals Limited (ASX: GMD) has reported significant new results from drilling on the western side Ulysses Gold Project near Leonora in Western Australia.
Intercepts in the ongoing drilling campaign have included:
- 9.05m @ 9.94g/t gold from 142.15m ➢ including 5.6m @ 14.92g/t gold
- 3m @ 5.56g/t gold from 174m ➢ including 0.87m @ 13.4g/t gold
- 1.73m @ 6.4g/t gold from 192.60m ➢ including 0.68m @ 14.9g/t gold
- 6.24m @ 10.62g/t gold from 223.03m ➢ including 4.63m @ 14.1g/t gold
- 6.14m @ 9.52g/t gold from 232.48m ➢ including 2.82m @ 19.8g/t gold
3m @ 8.6g/t gold from 216m ➢ including 2m @ 11.6g/t gold
The recently commenced resource upgrade drilling is being undertaken within and adjacent to the 760,000oz Ulysses Mineral Resource at Genesis Minerals’ 100%-owned Ulysses Gold Project.
Genesis Managing Director, Michael Fowler, said drilling 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,” he said.
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.
“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,” Mr Fowler said.
“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.”
