Genesis Resources (ASX:GES) has extended its ambitious drilling program involving additional drilling of a total 66,000 metres this year, that could see its Plavica gold-silver-copper project in Macedonia move to a final feasibility study.
Genesis has renewed the drilling contract with existing contactor Spektra Jeotek Sanayi ve Ticaret A.S. to bolster its ongoing drilling program at the Plavica Project by undertaking a minimum of 22,000 metres of diamond core drilling and 44,000 metres of RC drilling this year.
This will be in addition to the drilling that will be done as part of the previous contract.
The new contract will cost about $6 million over the term of the agreement.
Spektra had a previous drilling contract for 7,000 metres of reverse circulation drilling and 2,500 metres of diamond core drilling at the Plavica project.
There are about 2,352 memtres and 1,064 metres of RC and diamond drilling remaining from the previous program.
Drilling last quarter at the Plavica project resulted in every hole being successful in intersecting mineralisation with two holes encountering deep zones of oxidation.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.