ASX/MEDIA Release
8th February 2010
NEW ROCK CHIP RESULTS OVER GENESIS ALICE SPRINGS PROJECT INDICATES POTENTIAL
FOR HIGH GRADE COPPER AND IRON DEPOSITS
Genesis Resources Limited (ASX: GES)
is pleased to announce the results of the recent rock chip
reconnaissance over the Alice Springs Project. Genesis commissioned its geologists to examine the old mine
workings and other prospects within the tenement
(EL 24817)
with a view to
evaluate the outcropping
mineralisation. Fourteen (14) rock chip samples were
taken
within the tenement.
The samples have
indicated excellent first pass results for the Alice Springs Project. Based on these results, Genesis intends to
prioritise these prospects based on their mineral potential and will be aggressively implementing further
work programs during 2010. These results demonstrate the potential for a high grade Copper and Iron
deposit, which will significantly lift the Company’s prospectivity.
Key points from the reconnaissance sampling include:
-
Copper mineralisation in the north-western part of the tenement appears to be mainly structurally
controlled with copper assays up to 40% Cu
-
Within the Camp Hill area the mineralisation is hosted within quartz veins with copper assays up to
15.85% Cu and iron values up to 67.7% Fe within the shear zones
-
In the
Diana prospects areas the mineralisation is hosted within shear zones between schists and
possible narrow lenticular iron formations. This mineralisation may be partly strata-bound with c
iron grades peaking at 68% Fe
-
The Corner Post and Diamond T prospects are hosted within sheared felsic gneisses in the Cadney
Fault corridor with copper assays up to 4.86% Cu and 1.43% Bi.
In commenting on these encouraging results, Pedro Kastellorizos, Managing Director, Genesis Resources
said:
“ We are delighted to have received such excellent first pass results for the Alice Springs Project. Based on
these results, we have now prioritised the various prospects based on their mineral potential and will be
aggressively implementing further work programs during the course of the year.”
Genesis Resources is currently undertaking further assessment of the next stage of exploration which will
include ground geophysics and more detail rock chip and soil geochemical sampling.
To interview Mr Pedro Kastellorizos please contact Rod North, Bourse Communications on (03) 9510
8309 or 0408 670 706.
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