Genesis extends Plavica resource
29th Mar 2012
MELBOURNE, Mar 29 – Australian explorer Genesis Resources has updated the JORC-compliant mineral resource estimate lifting the size and grade of the gold resource at the Plavica project in the Kratovo District of northeast Macedonia Republic.
Genesis is sole-funding exploration of the historic mine to completion of a final feasibility study to earn 62% from Macedonian conglomerate Sileks.
Highlights are an inferred gold resource of 1.86Moz at 1g/t Au, inferred copper resource of 33,900t at 0.43% Cu and inferred silver resource of 28.2Moz at 25g/t Ag. The substantial increase in copper and silver grades results from resource estimations in copper and silver specific domains.
The potential remains to define further oxide sources along the Northern Ridge and Maricanski Ridge.
Chairman Eddie Pang says further resource definition drilling and a scoping study will examine the mining potential of the deposit.
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