Glass Earth Gold Reports 156 Metres at 1.6 g/t Au and 2.6 g/t Ag at WKP Gold-Silver Prospect, Hauraki, New Zealand
July 12 2010 - 9:30AM
Marketwired
Glass Earth Gold Limited (TSX VENTURE: GEL)(NZAX: GEL) ("Glass
Earth") today announced significant results from a diamond drilling
campaign at its WKP gold-silver prospect, a joint venture with the
operator, Newmont Mining Corporation.
'WKP' GOLD-SILVER PROSPECT - Newmont earning 65%
Newmont continues with its active drilling program on the highly
prospective WKP gold-silver prospect and has completed three
diamond drill holes (WKP 24, 25 & 26). More results of WKP 24
and 25 are further below, with assays awaited on WKP 26.
WKP 24 intersected mineralization of 156 m @1.6 g/t Au,
including 1.6 m of 30.2 g/t Au and 13.8 m of 6.6 g/t Au.
WKP 25 intersected mineralization of 15 m @ 9.3 g/t Au,
including 1.8 m of 61.4 g/t Au.
Simon Henderson, President and CEO that "These drilling results
are significant intersections in both WKP 24 and 25 confirm that
mineralization extends well beyond the known mineralization at WKP.
Glass Earth and Newmont are very encouraged by these results and
are confident that this exploration phase will provide substantial
insight into the characteristics of the new zone, "WKP West" and
the overall WKP prospect."
As reported on March 26 2010, the WKP prospect is a 2 km
mineralized alteration zone, just 10 km 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. Exploration in the late 1980's and early
1990's identified a very extensive altered and gold mineralized
system identified as the 'WKP Stockwork Zone' with multiple
intersections, including several ore grade intersections.
The current drilling, together with previous exploration work by
Newmont, targeting the new WKP West zone, outlines a new area
approximately 180 m wide with a strike continuity of over 600
m.
WKP 24 and 25 intersected broad alteration and intense
silicification over wide intervals. Quartz vein stockworks and
gold-silver mineralization were encountered adjacent to major fault
structures with at least two high grade intersections apparent in
broad mineralized intervals.
WKP 24 intersected:
Hole No From To Interval m Gold g/t Silver g/t
---------------------------------------------------------------------------
WKP 24 125.9 282 156.1 @ 1.6 2.6
including 268.2 282 13.8 @ 6.6 3
44 (i)within
following
207.7 209.3 1.6 @ 30.2 interval
207 210 3 @ 15.6 23.2
262.5 263.5 1 @ 16 9.8
251 253 2 @ 6.2 2.9
252 253 1 @ 11.3 5.1
WKP 25 collared from the same drill pad intersected:
Hole No From To Interval m Gold g/t Silver g/t
---------------------------------------------------------------
WKP 25 221 236 15 @ 9.3 12.8
including 225 226.8 1.8 @ 61.4 80.3
235 236 1 @ 9.5 19.3
Assay results are pending on WKP 26.
The WKP West zone represents a compelling target in its initial
stage of exploration, with surface mapping and additional
geophysical data (CSAMT resistivity) planned to assist in the
targeting of additional step-out drilling.
Qualified Persons
Glass Earth's exploration programs 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. The Company maintains its objective
to discover new large gold deposits in New Zealand, and it is
currently mining placer gold under its Otago permits to provide
funding for its hard rock gold exploration. 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 jennie@chfir.com and
mention "Glass Earth news" in the subject line.
To view the attached map, please visit the following link:
http://media3.marketwire.com/docs/gelmap712.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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