Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth") today
announced significant results from the third drill hole in the diamond drilling
campaign at its WKP gold-silver prospect, a joint venture with the operator,
Newmont Mining Corporation.


WKP GOLD-SILVER PROSPECT - Newmont 65%, GEL 35%

Newmont has completed the initial three diamond drill holes (WKP 24 and 25 -
reported July 12, 2010 and WKP 26 reported herein) on the highly prospective WKP
gold-silver prospect. Surface mapping and additional geophysical data (CSAMT
resistivity) is planned to assist in the targeting for additional step-out
drilling. 


WKP 26 intercepted a faulted 2.5 m true width quartz vein at 126 m within a
larger 20 m fault zone and a zone of narrow (less than 500 mm) quartz veining
continuing down hole to an andesite dike at 293 m. The stockwork zone developed
between the large quartz vein and the andesite dike averaged:




     178 m at 1.05 g/t Au and 3.0 g/t Ag;                                   
     including a higher grade zone of 64 m @ 2.0 g/t Au and 2.6 g/t Au.     



"These drill results confirm that WKP West represents a significant new prospect
with individual higher grade intercepts and broad mineralized widths that
portend a major discovery. 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," asserted Simon Henderson, President and CEO. 


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 and 5 km northeast 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 targeting the new WKP West zone, together with Newmont's
previous exploration, outlines a new area approximately 180 m wide with a strike
continuity of over 600 m.


The WKP 26 intersection of 178 m at 1.05 g/t Au and 3.0 g/t Ag (including a
higher grade zone of 64 m @ 2.0 g/t Au and 2.6 g/t Au) provides further
confidence that the WKP West zone represents a significant broad terrain of gold
mineralization. Other WKP 26 intercepts, similar to earlier holes punctuated by
individual zones of higher grade, include:




--  1.0 m @ 19.1 g/t Au, 71 g/t Ag from 141 m, 
--  0.8 m @ 24.5 g/t Au, greater than 100 g/t Ag from 167.2 m,  
--  0.4 m @ 12.3 g/t Au, 24 g/t Ag from 199.9 m, and 
--  1.0 m @ 17.5 g/t Au, 24 g/t Ag from 204 m. 



The remainder of the WKP 26 hole contains many narrow (less than 150 mm) quartz
veins and is strongly silicified with locally strong pyrite alteration. This
zone contains widespread 0.1-0.5 g/t Au mineralization. The entire zone from
just above the quartz vein at 115 m to the end of the hole at 552.1 m averaged
436.1 m @ 0.50 g/t Au, 1.8 g/t Ag.


As previously reported on July 12, 2010, WKP 24 and 25 intersected broad
alteration and intense silicification over wide intervals. WKP 24 intersected
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 15 m @ 9.3 g/t Au, including 1.8 m of 61.4 g/t Au. 


The WKP West zone represents a compelling target in its initial stage of
exploration, with the WKP 26 step-out confirming the significant width of gold
mineralization consistently greater than 150 m. The new mineralized trend also
includes legacy drill-hole WKP 8, 200 m southeast on the trend of
mineralization, including a gold intersection of 17.1 m @ 3.8 g/t gold,
finishing in 4.8 m @ 11.6 g/t gold. 


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. 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 map associated with this press release, please visit the following
link: http://media3.marketwire.com/docs/gel0825map.pdf.


Graphano Energy (TSXV:GEL)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Graphano Energy Charts.
Graphano Energy (TSXV:GEL)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Graphano Energy Charts.