re: Ann: Significant Mineralisation Discovere... G'day all,
Below is the extract from the West Australian today.
Headline:
Genesis shows signs of good things to come
SPINIFEX by Nick Sas
South Australian focused Perth based junior Genesis Minerals is expected to today announce wide intersections of gold, silver, lead and zinc in Argentina.
The company capitalised at $8.5 million at the end of trading on Friday, believes the area has the potential for a multimillion ounce gold deposit, with low grades but big widths possibly supporting a substantial bulk tonnage development.
Of course, with results from the first drilling campaign announced today, it is easy to proclaim a future resource at such an early stage.
Yet some well connected investors appear to have confidence in the Genesis story.
The Wyllie Group backed Investment – the investment syndicated controlled by Michael Fotios – owns 15.9 per cent of the company with the Wyllie family holding another 4.92 per cent in its own right.
“From what they’ve drilled so far it’s exactly what we were looking for, a very large, low grade deposit that should be extremely profitable in the future,” Mr Fotios told Spinifex.
Genesis said next year’s exploration would target the high grade vein systems at Las Openas with the aim of confirming the significance of the epithermal mineralisation.
Ann: Significant Mineralisation Discovered at Las, page-3
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