Genesis confident of a bigger Ulysses

Just weeks after triggering its option for a series of tenements at Kookynie, WA, Genesis Minerals says recent RC drilling has confirmed the potential for additional resource growth (reports MiningNews)
15th January 2021
Resources Rising Stars

Just weeks after triggering its option for a series of tenements at Kookynie, Western Australia, which expanded its Greater Ulysses gold project to 1.3 million ounces, Genesis Minerals says recent RC drilling has confirmed the potential for additional resource growth (reports MiningNews).

Work at the northern end of the existing Orient Well pit, beyond the existing 61,000oz resource, has returned hits such as 3m at 17.3 grams per tonne gold, within 10m at 5.85gpt from 101m, and 29m at 1.63gpt from 120m, including 16m at 2.27gpt.

Work at the Butterfly and Clark deposits, primarily targeting the inferred 59,000oz resource at Butterfly, also returned promising intercepts such as 9m at 1.38gpt from 97m and 10m at 1.21gpt from 25m.

A single hole at Butterfly North returned 15m at 1.15gpt from 50m while testing a new dolerite target parallel to the existing resources, while drilling immediately north of Butterfly returned 9m at 2.59gpt from 90m, and 13m at 1.6gpt from 34m was recorded in the gap between Butterfly and Clark.

Genesis said it appeared that mineralisation intersected outside existing resources along the Hercules and Clark shears remained open down-dip and down-plunge.

The assays cover 14 infill holes for 1616m at Orient Well and 30 holes for 3674m at Butterfly and Clark, but the company is still waiting on the results of 100 holes completed last year.

Managing director Michael Fowler said drilling outside known resources was highly encouraging for a resource update planned for the coming weeks, which will help feed into the Greater Ulysses feasibility study.

On the ground, drilling has resumed after the festive season, with one RC rig on site, down from four used late last year.

Drilling in 2021 will continue to target the north-east dipping Admiral, Clark, and Butterfly Shears, including more holes at Butterfly North, and a major expansional program at Orient Well.

Genesis optioned the 414,000oz Kookynie package, in June 2020, and has spent the past few months drilling 35,000m along the Admiral-Clark-Butterfly trend and at the Orient Well deposit, to assess the potential for the area to feed into a planned standalone plant at Ulysses to the north, where resources are estimated at 760,000oz.

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