seven exploration licences ("Exploration Licence" or "Project") covering 1,111 km2 in Queensland and the Northern Territory of Australia and a joint venture agreement giving the Company the right to earn the majority position in a granted Exploitation lease over a highly prospective gold and copper projects in Macedonia.
The Plavica Joint Venture Agreement in the Republic of Macedonia consists of a recently granted 30 year Exploitation Licence owned by Silgen Resources, a Macedonian incorporated Company 62% owned by Genesis Resources and 38% by its local Macedonian Partner. Rik Sileks AD. Drilling at Plavica in 2013 returned multiple oxide gold intercepts including 59m @ 3.9 g/t Au and numerous primary Cu-Au intercepts including 54m @ 3.51 g/t Au and 2.79 % Cu. Drilling is ongoing in 2015 to define an indicated JORC Resource and start pre-feasibility studies.
hosts a series of manganese deposits over a strike length of 21.5 kilometres
close to a major port and includes the strategically located historic manganese
mine at Mount Millar that averaged 44% to 47% Mn. A small reconnaissance rock
chip sampling over Mt Millar has yield high grade geochemical surface manganese
assays in the order 58.7%, 60.5% and 61.1%.
mapping over Fenn Gap has delineated over 9.9 kilometres of outcropping goethite
(iron) mineralisation (between 43% and 48% Fe) with moderate to high grade
(33.2% Mn - 52.6 MnO2) manganese assays obtained from the Table
Prospect area. A number of gravity anomalies remain untested by drilling.
grade manganese mineralisation (rock chip sampling has delineated
manganese averaging 41% to 52% Mn) outcrops identified at McArthur River similar
in form and grade to the deposits at Groote Eylandt, Northern Territory (Groote
Eylandt Mining (GEMCO) Operations).
The Arltunga Gold Exploration Licence in the NT, Australia consists of a number of high grade gold veins. Rock chip samples returned up to 2.8 oz / tonne (88 g/t) Au
The Alice Springs Licence in the NT, Australia has rock chip samples with up to 40% Cu, 2.8 ppm Au and 68% Fe and a number of Airborne EM anomalies that remain untested by drilling.