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GMD - Genesis Minerals (1 Viewer)

springhill

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MC - $8.5m
SP - 7c
Shares - 121m
Options - 53m
Cash - ???

Top 20 - 52%

HIGH‐GRADE GOLD HIT AT PONCHA PROJECT
● Drilling at Poncha Project in Argentina returns 12.15m @ 4.87g/t gold, 15.9 g/t silver and 0.49% zinc
● Highlights potential for significant discovery
● Results confirm intermediate sulphidation epithermal highgrade gold mineralisation (eg. Kelian‐type) at Poncha
● Geological controls on location of high‐grade mineralisation now much better understood
● Seven holes (1,498m) of a planned 20‐hole (4,000m) drill program completed before the onset of winter weather
● Drilling set to start at Las Opeñas Project (25km away) to test high‐grade gold targets
● Remaining 2,500m of drilling at Poncha to be completed as soon as weather allows
● Drilling to continue across the two projects until Christmas, underpinning many months of strong news flow
Genesis Minerals Limited (ASX:GMD) is pleased to announce that drilling at its Poncha Project in San Juan Province, Argentina has returned high‐grade results of up to 4.87g/t.
The results support Genesis’ belief that Poncha has the potential to host a multi‐million‐ounce gold deposit in a high‐grade epithermal system.

High‐grade gold mineralisation was intersected in drill‐hole 12 PODH 003, with analytical results including:
● 12.15m @ 4.87 g/t gold, 15.9 g/t silver and 0.49% zinc; and
● 5.25m @ 0.62 g/t gold, 12 g/t silver, 0.46% lead and 0.77% zinc
Hole 12 PODH 003 was drilled perpendicular to a previous drill hole PC13 (see Genesis ASX release dated April 6, 2011) that intersected:
● 266m @ 1.21 g/t gold including:
• 22m @ 3.01 g/t gold, 5.4 g/t silver, 0.3% zinc; and
• 61m @ 3.04 g/t gold containing 4m @ 10.84 g/t gold and 7.9 g/t silver, and 8m @ 10.91 g/t gold and 24 g/t silver.

Recent results indicate that the previous drill hole was probably oriented down‐dip of, rather than perpendicular to, the mineralisation. As such the geological controls on the location of this high‐grade mineralisation are now much better understood and further drilling can be optimally directed to evaluate the extensions of this mineralisation, which remains open in all directions.

Las Opeñas
• Extensive high grade epithermal system identified at surface over 4.5km
• No drilling
• Rock chip sampling and mapping
• Values up to 49g/t Au, 183g/t Au and 6,800g/t Ag
• Agreement with Teck
• Exploration expenditure of US$0.5m by March 2013 (RTE100%)
• Minimum commitment by June 2012


Exploration Programs

• Poncha Drilling commenced – first results mid June
• Las Opeñas Targeting Drilling late June 2012
• Dinamarquesa Further drilling planned for July 2012
• Cerro Verde Mapping and Sampling Ongoing + Geophysical Survey
 

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greggles

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Genesis Minerals slowly creeping up over the last six weeks, advancing from 3.2c to 4.3c on increasing volume.

The company is developing its 100%-owned Ulysses Gold Project, located 30km south of Leonora in WA and has been having drilling success recently. Some of the more recent intercepts released today are:

screenshot-www.aspecthuntley.com.au-2018.06.28-12-12-20.png


Extensional drilling will continue with three rigs in the September quarter and will focus on expanding the Ulysses Resource to a vertical depth of well over 400m while also in-filling the recently drilled areas identified outside of the existing resource.

big.chart-GMD.gif
 

greggles

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Genesis Minerals announced today that the total Mineral Resource of their 100%-owned Ulysses Gold Project near Leonora in WA is now 7.1Mt @ 3.3g/t gold for 760,000 ounces of contained gold, an increase of 137% (439,000 ounces) in total contained ounces and 10% increase in average grade from the previously announced February 2018 Mineral Resource.

GMD broke through resistance at 4c on high volume today (the highest daily volume of 2018) and is looking bullish. I feel confident that short term momentum will see it hit 5c in the next week or so.

big.chart-GMD.gif
 
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Noticed the GMD thread was not visited for three years! A gold site near Leonora, the place of my cherished memory when seen and worked first gold mine Sons of Gwalia back 1993.
So let me populate some latest information to keep the thread alive :)
There was a recent SPP that did not spike the price and still covering almost near the SPP price.
Probably for the last few years, not enough action shown to the market.


1622266582354.png

Even this news did not excite the market :(
https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4
so one substantial holder dumped the holding prior to the announcement

 
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Genesis Minerals announced today that the total Mineral Resource of their 100%-owned Ulysses Gold Project near Leonora in WA is now 7.1Mt @ 3.3g/t gold for 760,000 ounces of contained gold, an increase of 137% (439,000 ounces) in total contained ounces and 10% increase in average grade from the previously announced February 2018 Mineral Resource.

GMD broke through resistance at 4c on high volume today (the highest daily volume of 2018) and is looking bullish. I feel confident that short term momentum will see it hit 5c in the next week or so.

View attachment 89676
3 YEARS and GMD still playing ping pong :)
 

Dona Ferentes

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Raised $10million in a placement in April, with SPP, which closed early and was heavily over subscribed, pulling in another $1M. Alkane (ALK) was a participant in the placement and has lifted its holding to 19.84%.

• Ulysses Mineral Resource increased to 27Mt at 1.8g/t Au for 1.6Moz .
• Feasibility Study on track for Q2 2021
• Drilling underway targeting next leg of growth

Genesis controls an area of +650km2 of the Ulysses-Orient Well shear corridor
 

kennas

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Started following this as ALK now own almost 20% and I own ALK.

Last ann out regarding the North Puzzle discovery just north of Puzzle. Looks like they're going to try and rapidly drill it out for an MRE to add to the rest of their ounces. If it expands a little bit could push them closer to the 2m oz Au mark.

Feasibility study under way on a standalone operation for Q2 - now. Investment decision by EOY.

Not sure who previously owned and mined the open pits that are part of their package. Nor why they stopped mining them. Perhaps the depths were getting troublesome or they hadn't done much deeper drilling to see the grades under the pits. Dunno.

Not sure what Alkanes plans are with this investment or how and why they started getting into it.

Screen Shot 2021-06-18 at 11.27.23 am.png

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