Genesis Resources targets high grade copper and iron

Manganese and iron focused, Genesis Resources (ASX: GES), will commence its helicopter Electromagnetic and Magnetite survey over the 100 per cent Genesis owned Alice Springs and McArthur River Projects in late April 2010.

The Alice Springs Project (EL24817 will have approximately 750 line kilometres flown at 150 metre line spacing and the McArthur River Project (EL24814) will have approximately 237 line kilometres flown at 100 metre line spacing.

The aerial EM and Magnetic survey will cover the four areas over the Alice Springs Project. The Survey will focus on delineating high grade iron and copper mineralisation.

Historical reconnaissance by Genesis has located very high grade copper and iron from the surface. The aerial EM survey over the Masterton 2 area, which is located within the McArthur River Project, will focus on delineating the dimensions of high grade manganese mineralisation below surface.

By determining this, Genesis will create a 3-D model of the potential mineralised zone to target during its proposed Reverse Circulation Drilling program.

In commenting on these upcoming programs, Pedro Kastellorizos, Managing Director, said “having commissioned GPX Surveys Pty Ltd to fly an aerial survey in the coming weeks, we are confident that targets will be generated from the survey to soon commence drill testing.”

“By completing these surveys, we are in a stronger position to target the potential source of the mineralisation at depth. We look forward to updating the market on further progress with the development at our Projects and to commencing the next stage in the process leading to the definition of an indicated resource.”

http://www.proactiveinvestors.com.au/companies/news/6031/genesis-resources-targets-high-grade-copper-and-iron-6031.html