Press Release (00244819-2).DOCX
ASX Announcement
Genesis Minerals Limited
ASX Code: GMD Issued Capital
297.3 mi l l i on s ha res
23.7 mi l l i on opti ons
Current Share Price
$0.009
Market Capitalisation
$2.6 mi l l i on
Board Members
Ri cha rd Hi l l
Cha i rma n
Mi cha el Fowl er
Ma na gi ng Di rector/CEO
Da mi a n Del a ney
Non-Executi ve Di rector
Compa ny Secreta ry
Major Shareholders - >5%
Mi cha el Foti os a nd As s oci a tes
Teck Res ources Li mi ted
ABN: 72 124 772 041
Registered Office
Uni t 6, 1 Cl i ve St
Wes t Perth, WA, Aus tra l i a , 6005
PO BOX 437, Wes t Perth
WA, Aus tra l i a , 6872
T: +61 8 9322 6178
i nfo@genes i s mi nera l s.com.a u www.genes i s mi nera l s .com.a u
Chile Office
Av. Es tori l 200
Ofi ci na 837
La s Condes
Sa nti a go, Chi l e
DRILLING TO COMMENCE AT VIKING PROJECT
Highlights
• Drilling to commence at the Viking Project focusing on the Beaker 4 and Beaker 2 gold zones
• Drilling to extend the shallow, high-grade gold veins identified at Beaker 4
• Priority testing of the strike extensive, 1.5km long Beaker 2 oxide gold zone and associated high-grade vein system to also be completed
Genesis Minerals Ltd (ASX: GMD) ('Genesis' or the 'Company') is pleased to announce that drilling will commence in the first few days of December at the Viking Gold Project ("Viking" or "the Project"), Western Australia.
Drilling at the Beaker Prospect will focus on the Beaker 4 and Beaker 2 zones (Figure 1) where high-grade gold mineralisation and significant near surface oxide mineralisation (See Figures 2 to 5) was confirmed from Genesis' maiden drilling program at Viking (see Genesis Minerals Limited ASX Release September 9, 2014).
Drilling at the Beaker 4 zone will extend the shallow, high-grade gold veins identified at Beaker 4 where drilling in August 2014 returned high- grade results including:
7m @ 4.02g/t gold from 31m
6m @ 6.04g/t gold from 73m (including 3m @ 11.35g/t gold) Testing of the strike extensive, 1.5km long Beaker 2 oxide gold zone and associated high-grade vein system to also be completed with step out
drilling to determine the potential of wide zones of near surface oxide
mineralisation intersected. The initial drill line at Beaker 2 intersected:
20m @ 0.74g/t gold from 10m (including 5m @ 1.88g/t gold)
20m @ 0.59 g/t gold from 5m (including 5m @ 1.91g/t gold)
15m @ 0.42g/t gold from 15m
It is anticipated the 1,500m drill program will take approximately 2 weeks to complete.
ASX Release 27 November 2014 1
Genesis Minerals Limited
Figure 1 Viking Project Location with regional geochemistry on 1VD magnetic image
Figure 2 Beaker 4 Summary Map on detailed 1VD Magnetic Image
ASX Release 27 November 2014 2
Genesis Minerals Limited
Figure 3 Beaker 4 Section 6,421,000N
AREA TO BE DRILL TESTED (Yellow)
Figure 4 Beaker 2 Drill Hole Plan Summary Map
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Genesis Minerals Limited
Figure 5 Beaker 2 Section 6,420,000N
Michael Fowler Managing Director Further Information Conta ct - Mi cha el Fowl er
+61 8 9322 6178 or mfowl er@genes i s mi nera l s .com.a u
COMPETENT PERSONS STATEMENTS
The information in this report that relates to Exploration Results is based on information compiled by Mr. Michael Fowler who is a full-time employee of the Company and is a member of the Australasian Institute of Mining and Metallurgy. Mr. Fowler has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Fowler consents to
the inclusion in the report of the matters based on his information in the form and context in which it appears.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
ASX Release 27 November 2014 4
Genesis Minerals Limited
Viking Project Background
The Project comprises 6 granted exploration licences that cover some 550km2 and is located approximately
600km east of Perth and 30km south east of the town of Norseman (see Figure 6). Access to the project area from Kalgoorlie is via the sealed Celebration and Kambalda roads to the Coolgardie-Esperance Highway to Norseman then various 4WD tracks within the Project. Access into the Project is east along the old Telegraph Track, 18km south of Norseman via the Coolgardie-Esperance Highway.
The Project is located close to regional mining infrastructure 30km south east of Central Norseman and 75km
SSE of the Higginsville Processing Plant.
Genesis purchased AngloGold Ashanti Australia Limited's Viking Project Group 2 tenements during the March
2014 Quarter (see GMD ASX Release dated March 3, 2014). The Project comprises a significant landholding in the Proterozoic Albany-Fraser Orogen ("AFO") and adjoining eastern margin of the Archaean Yilgarn Craton in what is considered an emerging mineral province that has delivered the Tropicana gold and Nova- Bollinger nickel discoveries.
The Project has received limited exploration prior to AngloGold Ashanti commencing ground acquisition in
2007. During this period Anglogold Ashanti spent over $17 million on high quality generative work across the southern part of the Tropicana Belt generating the very large (7km x7km) Viking Gold Target with limited drill testing. This has presented an exciting opportunity for Genesis who owns the project tenements and data
100%.
Figure 6 Regional Location Maps
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