Genesis Minerals Limited announced today it has intersected significant high-grade gold mineralisation from recently commenced resource upgrade drilling from within and adjacent to the 760,000oz Ulysses Mineral Resource located 30km south of Leonora in WA.
Initial assay results from the recently initiated drilling program have been received from drilling at Ulysses West. 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.
- 9.05m @ 9.94g/t gold from 142.15m 19USDH079 ➢ including 5.6m @ 14.92g/t gold
- 3m @ 5.56g/t gold from 174m 19USDH080 ➢ including 0.87m @ 13.4g/t gold
- 1.73m @ 6.4g/t gold from 192.60m 19USDH081 ➢ including 0.68m @ 14.9g/t gold
- 6.24m @ 10.62g/t gold from 223.03m 19USDH083 ➢ including 4.63m @ 14.1g/t gold
- 6.14m @ 9.52g/t gold from 232.48m 19USDH085 ➢ including 2.82m @ 19.8g/t gold
- 3m @ 8.6g/t gold from 216m 19USRC378 ➢ including 2m @ 11.6g/t gold
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.”