Genesis Minerals Limited (ASX: GMD) continues to receive promising results from the ongoing programme of in-fill and extensional resource upgrade drilling at its 100%-owned Ulysses Gold Project near Leonora in WA.
The company’s latest drilling results show the ongoing drilling programme continues to intersect significant high-grade gold mineralisation from within the current 760,000oz Ulysses Mineral Resource.
The drilling programme is being conducted along the entire strike length of the Resource targeting between the 350mRL to 200mRL, up to 200m below surface. Drilling is targeting areas both within and adjacent to the current resource boundary.
Genesis Managing Director, Michael Fowler, said over 20,000m of drilling will be completed by mid-November 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. At Ulysses West, drilling will target ~600m of down-plunge extent.
“We continue to make very good progress with the resource upgrade drilling programme, with three rigs now operating to in-fill and extend the main 760,000oz Resource at Ulysses,” Mr Fowler said.
“Our initial focus continues to be on upgrading the upper 200m of the Resource, and the initial results have confirmed the continuity, robustness and tenor of the mineralisation within the high-grade shoots – which is an important outcome.
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. With three rigs operating, we expect the programme to be largely complete by mid-November, with a steady flow of assay results expected in the coming weeks.”
High-grade gold intersections from recent holes include:
- 6.00m @ 10.23g/t gold from 154.0m >> including 2.43m @ 20.33g/t gold
- 4.52m @ 9.71g/t gold from 145m
- 5.46m @ 10.71g/t gold from 229m
- 2.00m @ 28.76g/t gold from 188m
- 1.00m @ 33.86g/t gold from 103m
- 2.36m @ 9.41g/t gold from 142.64m
- 2.00m @ 9.20g/t gold from 179m
- 4.25m @ 5.29g/t gold from 240.85m
- 2.00m @ 7.42g/t gold from 102m
- 12.09m @ 2.31g/t gold from 121.4m >> including 5.66m @ 3.72g/t gold
- 2.50m @ 6.28g/t gold from 149.5m
- 2.00m @ 7.24g/t gold from 192.5m
- 3.00m @ 6.06g/t gold from 161m