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REFINING THE GOLD STANDARD abcrefinery.com

The Grand Hotel, Kookynie, once the heart of a thriving
town of 3,000 people

how to incorporate the Admiral, Clark and Butterfly deposits than 130% in the last year with its market cap now above
into the Ulysses feasibility study. From March this year, $150 million.
it began stepping out from the known resources to test Genesis’ progress has also acted as a catalyst for other
extensions, finding immediate success. juniors in the district. Metalicity Ltd is earning into a JV with
In May, step-out drilling at the Admiral deposit returned a hit Nex Metals Exploration Ltd, producing a string of exciting
of 5m @ 60.7 g/t from 120m below known mineralisation. hits from the McTavish deposit including 3m @ 19 g/t, 5m @
By June, the company had also extended the strike of the 17.9 g/t and 4m @ 6.4 g/t.
Puzzle North prospect to more than 400m following hits of Carnavale is the newest arrival, having entered into a
84m @ 1.98 g/t, 40m @ 2.52 g/t and 60m @ 3.03 g/t. 12-month option agreement over a 50sq km tenement
Fowler said the results from Puzzle North were particularly package within the Kookynie camp last August. Hale is
exciting. growing increasingly confident the ground will yield a net
“This is the first programme which has stepped away from benefit to the company.
the known resources to look at depth, along strike and also “There is an opportunity to get in, identify targets and get
in new positions,” he said. “The Puzzle North hits were the some reasonable exploration success in the area,” Hale said.
best results we’ve ever had at Ulysses.” “We did soils and aircore drilling and have had success.”
The strength of the recent intercepts has left Genesis in a Carnavale’s tenements sit between the historical
bind. It had planned to release the Ulysses feasibility study Cosmopolitan (360,000oz @ 15 g/t) and Champion
before the end of the June quarter but is now considering (33,000oz @ 17 g/t) mines and immediately along strike of
whether the step-out drilling would influence the resource. the Metalicity/Nex JV’s McTavish and Leipold prospects.
“These results actually mean we were maybe a bit early The company has hit the ground hard, completing three
on the feasibility study,” Fowler admitted. “We will make a aircore programmes totalling more than 25,000m since
valuation on whether to incorporate Puzzle North into the November 2020 as it works up RC targets ahead of a
feasibility study in the next few weeks.” decision on the option.
The market has certainly been enthused by Genesis’ push Hale said the aircore programmes had continued to deliver.
into Kookynie. The company’s market value has risen more

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