Genesis Minerals Ltd., an ASX-listed mineral exploration company, recently announced that the drilling has revealed substantial gold system at its recently-optioned Barimaia Gold project in Murchison region of Western Australia.
According to the news release, the company’s shares closed circa 13% higher on Monday, at $0.017. Genesis’ final assay results from the drilling programme returned thick highgrade gold intercepts, including 17 metres at 3.36 g/t gold from 49 metres; and 9 metres at 18.8 g/t gold from 75 metres.
Further, the drilling identified three large bedrock gold targets, and confirmed a 1-kilometre by 1.5-kilometre zone of anomalous gold mineralisation centred on McNabs and McNabs East areas.
“It is already evident that there is potential for a large-scale gold system at Barimaia, particularly given the strength and tenor of the mineralisation, its proximity to surface and the wide-spaced nature of the bedrock drilling,” said Michael Fowler, Genesis Managing Director. “The results have exceeded our expectations, and allowed us to gain a much clearer insight into the structure and geology of the mineralised system at Barimaia before deciding whether to proceed with the acquisition.”
Genesis is expected to proceed with the option to acquire Metallo Resources and to commence a second phase of systematic RC drilling at Barimaia next month to further expand the mineralisation.
“We are very excited about the opportunity in front of us and look forward to moving forward with the next stage of our exploration,” he concluded.