Raleigh Finlayson’s Genesis Minerals increases total resource at Leonora Gold Project
Super Pit dealmaker Raleigh Finlayson has hit the ground running at his new company Genesis Minerals, announcing an increase in the total mineral resource at the 100 per cent-owned Leonora Gold Project to two million ounces. In a statement to the ASX on Tuesday, the company said the increase at the project formerly known as the Ulysses Gold Project represented a 25 per cent rise from 1.6Moz on March 31 last year.
Mr Finlayson said Genesis had now established genuine scale in the Leonora district.
“At the same time, Genesis is financially robust and we are building a leading team with extensive technical and corporate experience,” Mr Finlayson said.
“This combination gives us an enviable platform for both organic and inorganic growth.”
Genesis said following the Kookynie acquisition in June 2020, drilling had focused on Admiral, Orient Well and Puzzle, which were essentially “forgotten” opportunities with virtually no exploration for 20 years.
“As a result, there has been no drilling at Ulysses over this period and the Ulysses Resource is unchanged at 838,000oz (including a high-grade component of 363,000oz at 6.4g/t),” Genesis said.
“Ulysses remains open along strike and at depth; extensional drilling will resume in 2022.”
Mr Finlayson resigned as an executive director of Northern Star Resources to complete a six-month advanced management course with Harvard University in the US before taking up his position at Genesis.