GMD 0.81% $2.50 genesis minerals limited

Ann: Option Secured Over New Highly Prospective WA Gold Project, page-4

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    HIGHLY PROSPECTIVE WA GOLD PROJECT t located just 10km south-east of Ramelius Resources’ 6Moz Mt Magnet Gold Mine, with potential for large porphyry-hosted gold deposits Key Points: • Option Agreement signed with private company Metallo Resources Pty Ltd over the Barimaia Gold Project, located in the Murchison region of Western Australia – just 10km south-east of Ramelius Resources Limited’s 6Moz Mt Magnet Gold Mine. • under shallow cover at McNabs Prospect. • Genesis to spend a minimum of $140,000 over a four-month period on “proof of concept” exploration at Barimaia, aimed at assessing the potential for the discovery of large, low strip ratio porphyry-hosted gold deposits. •

    Genesis may then elect to pay $250,000 in shares or cash to acquire 100% of the ordinary shares in Metallo Resources Pty Ltd which currently holds no interest in Barimaia but holds the right to earn-in to a maximum 80 per cent interest in the Project. • Option Agreement provides a low-risk opportunity to assess a highly prospective ground package in close proximity to a major producing gold mine. •
 
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