GMD 0.40% $2.53 genesis minerals limited

Today's Announcement ,This will be a huge end of Month with...

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    Today's Announcement ,This will be a huge end of Month with announcements pending

    HIGHLIGHTS:
    Ulysses Gold Project, Western Australia

    • Strong initial results received from recently completed resource upgrade and extensional drilling program with assays from the first 13 RC holes completed during the December Quarter including:
    • 12m @ 4.42g/t gold from 135m 17USRC130
    • 8m @ 5.16g/t gold from 109m 17USRC133
    • 4m @ 6.38g/t gold from 142m 17USRC134
    • 4m @ 4.09g/t gold from 154m 17USRC135
    • 2m @ 7.07g/t gold from 138m 17USRC136
    • 4m @ 6.82g/t gold from 110m 17USRC139
    • Program expanded to 58 holes in total for 10,233m, with assays from the next 11 RC holes including:
    • 14m @ 5.93g/t gold from 120m 17USRC147
    • 6m @ 5.08g/t gold from 157m 17USRC148
    • 2m @ 12.15g/t gold from 145m 17USRC146
    • 4m @ 4.55g/t gold from 188m 17USRC142
    • 5m @ 3.95g/t gold from 142m 17USRC149
    • 2m @ 5.17g/t gold from 156m 17USRC150
    • 2m @ 5.03g/t gold from 126m 17USRC151
    • 2m @ 5.98g/t gold from 150m 17USRC151
    • A large number of samples are outstanding, with assays for 23 RC holes and 11 diamond holes still awaited. These results are expected to be released by the end of January 2018.
    • Feasibility Study on a Ulysses Underground mine utilising a toll milling processing route is due for completion by the end of March 2018 Quarter though a larger step out drilling program is already being planned for the quarter targeting the establishment of a large standalone mining operation.
    • Current infill drilling, a key component of the Feasibility Study, is confirming excellent continuity of grade and widths within the existing high-grade Ulysses Resource.
    • Results from the current drilling are also clearly demonstrating the potential to significantly expand the Mineral Resource.
    • Updated Mineral Resource to be completed in early February 2018, underpinning the Feasibility Study which progressed significantly with multiple work-streams advancing.
    Barimaia Gold Project, Western Australia
    • New 2,500m RC drilling program commenced during the quarter to follow up the thick, high-grade gold intercepts returned from wide-spaced drilling in the September 2017 Quarter, which returned intersections from holes up to 800m apart at the McNabs and McNabs East prospects including:
    • 17m @ 3.36g/t gold from 49m 17BARC004 (McNabs East)
    • 9m @ 18.8g/t gold from 75m 17BARC002 (McNabs)
      • including 5m @ 31.8 g/t gold from 76m
    • 1m @ 11.7g/t gold from 26m   17BARC001 (McNabs)
    • Drilling will test the three large bedrock gold targets which have been confirmed over a 1km by 1.5km zone, highlighting the potential for a significant new primary high-grade gold system.
    Corporate
    • Cash reserves of $2.875 million at the end of the quarter, providing a strong platform for Genesis to advance its key Australian gold projects.
 
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