Significant Shallow Gold Zone Discovered Within Ulysses Gold Project
Genesis Minerals Limited (ASX: GMD) has obtained significant new results from ongoing resource extension, in-fill and exploration drilling at its 1.6Moz Ulysses Gold Project in Western Australia.
Managing Director, Michael Fowler, said the latest results, which include assays from the newly-delineated Puzzle North prospect and the Orient Well deposit, continue to highlight the upside potential across the Ulysses Project, including the potential to expand existing Resources (including all deposits within the recently acquired Kookynie group of tenements) and make new discoveries.
The drilling completed recently at the Puzzle North prospect and the Puzzle deposit is part of an ongoing exploration programme building on the recently announced Mineral Resource upgrade.
Drilling at Orient Well was part of the ongoing programme to expand the Orient Well Resource with significant mineralisation returned from holes targeting the edge of the March 2021 Resource or extensions of the resource.
“The fact that we are continuing to generate exciting results on multiple fronts is testament to the enormous upside at Ulysses. Recent drilling has identified an exciting new area at Puzzle North, where our initial shallow drilling has already defined a significant zone of shallow mineralisation that already looks like it has the makings of a new deposit,” Mr Fowler said.
“We have also firmed up a significant exploration target along the Puzzle granite greenstone contact which could well yield further discoveries. The 189,000oz Orient Well deposit is also continuing to grow, with successful in-fill and extensional drilling delivering some exciting results. Drilling will continue to systematically unlock the broader potential at Ulysses over the coming months, laying the foundations for a further resource upgrade later this year.”
“Our development studies are continuing with the Feasibility Study due this quarter.”
Drilling at Puzzle North was completed to follow up results of 42m @ 1.62g/t Au returned from KYR17510 and 21m @ 1.64g/t Au from KYR17513 from drilling completed in 2017.
A total of six RC holes for 713m (21USRC851 to 856) were completed with significant results reported from the Puzzle North prospect defining a broad zone of gold mineralisation. The Puzzle North area is located approximately 700m north of the Puzzle Resource.
Future drilling will continue to target extensions at depth and to the north and south of the Puzzle North prospect prior to resource definition drilling. Extensional drilling will be completed over the next three months.