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Genesis Minerals reports assay results from RC drilling program at Barimaia project in Australia

Published 01 March 2018

Genesis Minerals has received assay results from the recently completed 2,000m wide-spaced Reverse Circulation (RC) drilling program at its Barimaia Gold Project in the Murchison District of Western Australia.

Drilling has confirmed the presence of the three large, open-ended bedrock gold targets identified by previous RC and Aircore drilling over a 1.0km by 1.5km zone centred on the McNabs and McNabs East prospects. Results from the most recent round of wide-spaced RC drilling, completed in December, have confirmed that a significant gold mineralised system is present at Barimaia.

With the gold mineralisation and the targeted porphyry host rock remaining open in all directions, further drilling is now planned to extend the gold mineralised system to the north, south and east.

RC Drill Program

McNabs East Prospect

A first-pass, wide-spaced RC drill program was undertaken at the McNabs East Prospect to test the large bedrock gold targets that are associated with extensive zones of oxide gold mineralisation and anomalism under shallow alluvial cover.

17BARC020 intersected 5m @ 4.0g/t Au from 43m including 2m @ 8.9g/t Au and 5m @ 1.28g/t Au from 59m within porphyry host rock. Hole 17BARC020 is located within one of the large bedrock gold targets defined by shallow (<20m) aircore drilling at McNabs East that remains open in all directions and requires further systematic RC drill testing.

A large bedrock gold target trending in a north-eastern orientation over 400m has also been confirmed at McNabs East centred on holes 17BARC021 to 026 with gold mineralisation associated with porphyry host rocks. Significant shallow mineralisation intersected included 37m @ 0.57g/t gold from 25m in 17BARC026. Mineralisation remains open in all directions and requires further systematic RC drill testing. Drilling to follow up 17BARC007, which returned high grade mineralisation in a porphyry host rock, intersected mainly un-mineralised ultramafic rocks and only minor porphyry.

McNabs Prospect

Two holes (17BARC009 and 010) were drilled at the McNabs Prospect to test high-grade gold mineralisation intersected previously in hole 17BARC002. Hole 17BARC009 was targeted to intersect the down-dip extent of high-grade gold mineralisation and, at the position of the targeted high-grade down dip extent of 17BARC002, intersected 11m @ 0.58g/t gold from 117m hosted in ultramafic rocks.

The high-grade gold mineralisation in 17BARC002 is hosted in the preferred porphyry rock while the mineralisation intersected in 17BARC009 is hosted in an ultramafic rock. Hole 17BARC010 intersected 15m @ 0.85g/t gold from 51m including 5m @ 1.85g/t gold from 60m in pyritic porphyry host rock adjacent to the ultramafic-porphyry contact to the north of 17BARC009.

The contact between the ultramafic and porphyry rocks is interpreted to trend NNW over a minimum strike length of 400m  and remains a priority target for significant gold mineralisation.

Future Activities

Planned activities in the first half of 2018 at Barimaia include:

  • RC drilling to further test the McNabs Prospects area to follow up on the large bedrock gold targets identified;
  • A systematic Aircore drilling program to test to the area east and south of the currently identified bedrock gold targets to extend the mineralised system which is open in all directions;
  • A heritage survey in the areas to be AC drilled; and
  • A detailed magnetic survey to help define with structural and lithological controls.

The McNabs Prospects are entirely under shallow (5 to 10m) cover and comprises significant gold mineralisation associated with porphyry bodies intruding an ultramafic dominated volcanosedimentary package. The prospect geology and mineralisation has strong similarities (including geochemical signature being anomalous in Au-Bi-Te-Pb-W-Ag) with the nearby porphyry-hosted gold deposits of Ramelius Resources Limited.

Management Comment

Genesis Managing Director Michael Fowler said the Company was encouraged by the results from the recently completed drilling program, which clearly confirmed the presence of a large, shallow gold system at the project.

“There is clear potential to define shallow gold resources with further drilling, which is an attractive opportunity for Genesis given our corporate focus is on finding and developing resources capable of being rapidly and efficiently developed,” he said.

“The core focus for Genesis over the next few months is on the major drilling program currently underway at our flagship Ulysses Gold Project near Leonora, where we recently announced a significant Resource upgrade. The current 4,000m drilling program, the first stage of a much larger program, is well underway and we look forward to providing further information on this program in the near future.”

Source: Company Press Release