PERTH (miningweekly.com) – Junior Genesis Minerals has completed the acquisition of the Kookynie gold project, in Western Australia.
The ASX-listed company in December last year exercised its option to acquire the Kookynie project for A$10.5-million, along with the grant of a 1% net smelter royalty on future gold production, capped at A$5-million.
Genesis previously told shareholders that the Kookynie tenements could provide a springboard for the company to develop its Greater Ulysses gold project, as a significant, standalone mining and processing operation.
The Kookynie tenements host an estimated 414 000 oz of contained gold, with Genesis’ exploration programmes over the past five months highlighting the potential to rapidly expand on this resource base.