Genesis Minerals’ exploration budget has increased by $40–50 million following a year of strong drilling as its Leonora and Laverton assets in Western Australia.
The expanded budget, up from $19 million in the 2024–25 financial year (FY25) and $14.7 million in FY24, is already delivering what the company calls “outstanding” results across key projects.
Genesis Minerals managing director Raleigh Finlayson said the step-up in exploration spend reflects a high level of confidence in the company’s organic growth pipeline.
“Genesis is focused on maximising financial returns and organic growth generates some of the strongest financial returns in mining,” he said.
“We have the assets and infrastructure to deliver this, and that is why we have doubled our annual exploration budget. This investment is already delivering outstanding drilling results, which illustrate the immense scope to grow the inventories at both Laverton and Leonora.”
Drilling has resumed at the Jupiter open pit mine in Laverton, with the ore now supplying the adjacent mill. Highlights include intercepts of 69m at 3.9 grams of gold per tonne (g/t), 95m at 1.7g/t and 44m at 3.2g/t, alongside high-grade zones of 9m at 13.8g/t and 18m at 6.6g/t.
At Beasley Creek, acquired through Genesis’ $250m purchase of Focus Minerals’ Laverton project, historical drilling revealed thick, high-grade results such as 17m at 9.3g/t and 11m at 10.6g/t.
“Importantly, the returns on our exploration success are strengthened by the fact that it is unfolding right next to our existing processing plants, enabling us to leverage this infrastructure and evaluate plant expansion(s),” Finlayson said.
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