Glass Earth's WKP Joint Venture With Newmont Commences Drilling
March 26 2010 - 8:30AM
Marketwired
Glass Earth Gold Limited (TSX VENTURE: GEL)(NZAX: GEL) ("Glass
Earth") today announced that Newmont has commenced drilling at the
WKP prospect in the Hauraki Goldfield.
'WKP' GOLD PROSPECT
Glass Earth's joint venture partner, Newmont, continues with its
active drilling programme on Glass Earth's Hauraki prospects and
has now commenced diamond drilling at the highly prospective
Wharekirauponga ('WKP') gold prospect.
The WKP area is a 2km mineralised alteration zone, just 10km
from Newmont's Martha gold mine at Waihi (see map below) and 5 km
north east of the Golden Cross deposit (634,000 oz gold production
in the 1990's). The WKP epithermal system has magnetic/alteration
characteristics similar to the Martha mine and has
open-along-strike potential for several kilometres southward, being
at least 900m long, 150m wide, and unconstrained to over 300m
depth.
Exploration in the late 1980's and early 1990's identified a
very extensive altered and gold mineralized system with multiple
intersections including:
150m @ 0.93 g/t Au, including 17.7m at 4.0 g/t Au; 17.1m @ 3.87
g/t Au; 32m @1.45 g/t Au; 2m @ 7.7g/t Au; 3.1m @ 9.7g/t Au; 1m @48
g/t Au.
Initial drilling by Newmont is to target a zone of strong
silicification and veining between 180-380m, with further drilling
also targeting a second parallel 500m+ vein system not previously
drill tested.
Qualified Persons
Glass Earth's exploration programmes are carried out under the
supervision of Glass Earth's President and CEO, Simon Henderson,
M.Sc, M.AUSIMM, F.SEG. Mr. Henderson meets the qualified person
requirements (as defined by National Instrument 43-101) with more
than 30 years of experience in the gold mining and exploration
industry.
About Glass Earth Gold Limited
Glass Earth is one of the largest New Zealand-based gold
exploration companies exploring a land position of over 12,000 km2
in the North and South Islands. With its main office in Wellington,
New Zealand, Glass Earth Gold Limited is listed on the TSX Venture
Exchange (TSX VENTURE: GEL) and the New Zealand Alternative Stock
Exchange (NZAX: GEL).
To receive Company news via email, contact jeanny@chfir.com and
mention "Glass Earth news" in the subject line.
To view the map associated with this press release, please visit
the following link:
http://media3.marketwire.com/docs/GELmap.pdf
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor New Zealand Exchange Limited has reviewed
this release and neither accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Glass Earth Gold Limited Simon Henderson President and
Chief Executive Officer +64 4 903 4980 info@glassearthlimited.com
www.glassearthgold.com CHF Investor Relations Jeanny So Director of
Operations +1 416 868 1079 x225 jeanny@chfir.com
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