Genesis Resources (ASX:GES) has flagged it has extended the completion date to raise almost $630,000, after raising $1.26 million through an earlier share placement for its Republic of Macedonia gold silver project.
The completion date for the raising has been extended from 31 August 2013 to 30 September 2013.
During the June quarter 2013, Genesis had successfully drilled at Plavica with a new high grade zone discovered in east Plavica. Best result was a 54 metres intercept grading 3.9 grams per tonne gold and 65 metres at 3.1 grams per tonne.
This included 65 RC and 9 diamond drill holes at Plavica, which is 62% owned for a total of 12,936 metres of RC and 2,851 of diamond holes.
Financial modelling had predicated Plavica would be economically viable based on certain assumptions.
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