Genesis Minerals (ASX: GMD) has collected rock chip samples with values of up to 17.3 grams per tonne (g/t) gold at the Cerro Verde Project in northern Chile.
Under a recent program of mapping and sampling, more than 11 kilometres of prospective veins and structures have been mapped.
Individual mineralised structures more than 1,200 metres long and between 0.5 metres and 8 metres wide have been identified.
Results from 185 rock chip samples include:
- 17.3g/t gold, 7.69% copper and 224g/t silver;
- 8.38g/t gold, 0.27% copper and 28g/t silver; and
- 4.29g/t gold, 0.88% copper and 44g/t silver.
Veins and structures are defined by quartz-iron oxide rich veins together with copper oxides.
Mapping and a topographic survey have highlighted a number of historical workings, although only limited information is available.
Exploration over coming months will comprise further detailed rock chip sampling, geological structural mapping and geophysical surveying prior to drilling.
Cerro Verde is located in Chile’s Atacama Desert, 80 kilometres south of the city of Copoapó. The project is accessible by a sealed road and gravel roads from the city.
Genesis has the right to acquire up to a 100% interest in Cerro Verde from a private Chilean company under an agreement signed in September 2010, with staged payments of US$4 million due over a five year period.