Glass Earth Gold Limited (TSX VENTURE: GEL)(NZAX: GEL) ("Glass
Earth") reports high grade gold assays for two additional drill
holes on the WKP gold/silver prospect near Waihi, New Zealand
(North Island). At WKP South, DDH 29, the first hole drilled in
this new target zone, marks a new gold discovery on the prospect.
-- Diamond drill hole, WKP 29, targeting "WKP SOUTH" intersected 3.2 m @
37.0 g/t Au and 17.0 g/t Ag;
-- Diamond drill hole, WKP 28, targeting "WKP WEST" intersected 49 m @ 1.08
g/t Au and 3.32 g/t Ag.
The WKP gold/silver prospect is a joint venture with Newmont
Mining (65%) and Glass Earth (35%).
NEW TARGET ZONE - "WKP SOUTH"
DDH WKP 29, drilled westward (previous holes were drilled
eastward into the WKP West resistor) targeted a potentially new
mineralised zone to the south-west, represented by a strong
resistor, intersecting an exciting zone of high grade gold-silver
mineralisation. (See Section attached)
Hole No From To Interval metres Gold g/t Silver g/t
----------------------------------------------------------------------------
WKP 29 216 219.2 3.2 @ 37.0 17.0
----------------------------------------------------------------------------
including 217.1 218 0.9 @ 89.2 39.2
----------------------------------------------------------------------------
279.8 293 14.8 @ 4.82 2.7
The strong resistor extends both north and south of the current
drill hole, with another drill hole WKP 30, (results pending)
drilled beneath WKP 29, angling at depth and traversing the
resistor for a length of 720m. Aeromagnetic and CSAMT resistivity
geophysical surveys indicate this new zone has a strike potential
of at least a kilometre.
"WKP WEST"
DDH WKP 27 (previously announced - see below - which had several
notable intercepts) and WKP 28, confirmed significant low grade
gold mineralisation, highlighted by narrow intervals of high grade,
and is consistent with strong ground-based resistivity
(geophysical) surveying. This demonstrates the zone has potential
for over 800 m strike and a vertical extent of over 250 m. To date,
the five long, angled, diamond holes drilled have all intersected
significant gold-silver mineralisation over broad widths confirming
a potentially very large epithermal gold system.
Hole No From To Interval m Gold g/t Silver g/t
----------------------------------------------------------------------------
WKP 28 174 223 49 @ 1.08 3.3
----------------------------------------------------------------------------
including 174 175 1 @ 7.69 34.0
----------------------------------------------------------------------------
177 178 1 @ 4.32 5.2
----------------------------------------------------------------------------
187 188 1 5.31 35.5
----------------------------------------------------------------------------
214 218 4 @ 5.15 9.2
----------------------------------------------------------------------------
214 215 1 @ 11 19.2
A priority is to test further very strong resistor signatures,
500m to the north, and infilling to provide information on the
continuity and grade of high grade structures. (See map
attached)
Simon Henderson, President and CEO, commented that, "WKP West
represents a substantial zone of very encouraging gold-silver
mineralisation, with all five holes drilled into this target,
showing compelling continuity of gold mineralisation. The new
discovery, 200 m to the southwest at WKP South, presents another
exciting dimension on this developing project. A substantial
infill/expansion drill program is warranted when budgets and
resource consents for further work are approved".
Additional WKP Location and History Information
The WKP prospect is a 3 x 5 km mineralised 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 epithermal system and has
open-along-strike potential of 1-2 kilometres. The WKP West zone
currently outlines an area approximately 180 m wide with a strike
continuity of over 800 m.
Previous Drilling Results were:
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
Hole No From To Interval m Gold g/t Silver g/t
----------------------------------------------------------------------------
WKP 26 115 293 178 @ 1.05 3.0
----------------------------------------------------------------------------
including 141 205 64 @ 2.0 2.6
----------------------------------------------------------------------------
141 142 1.0 @ 19.1 71
----------------------------------------------------------------------------
greater than
167.2 168 0.8 @ 24.5 100
----------------------------------------------------------------------------
199.9 200.3 0.4 @ 12.3 24
----------------------------------------------------------------------------
204 205 1.0 @ 17.5 24
The remainder of the WKP 26 hole contained many narrow (less
than 150 mm) quartz veins. 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.
Hole No From To Interval m Gold g/t Silver g/t
----------------------------------------------------------------------------
WKP 27 129 281.4 152.4 @ 1.16 2.2
----------------------------------------------------------------------------
including 181.4 182.8 1.4 @ 30.7 77.7
----------------------------------------------------------------------------
197.8 198.8 1 @ 7.61 11.4
----------------------------------------------------------------------------
220.7 221.5 0.8 @ 6.4 9.1
----------------------------------------------------------------------------
223.2 224.3 1.1 @ 10.2 7.0
----------------------------------------------------------------------------
240 241.1 1.1 @ 11.0 5.7
----------------------------------------------------------------------------
257.2 258.2 1 @ 7.61 4.60
----------------------------------------------------------------------------
272 273 1 @ 8.33 6.70
About Glass Earth Gold Limited
Glass Earth is one of the largest New Zealand-based gold
exploration companies exploring a land position of approximately
10,800 square kilometres in the North and South Islands.
In the North Island, exploration efforts are focused on large
epithermal gold systems in the Hauraki/Central Volcanic Region.
This Region is host to the 10 million ounce Martha Gold Mine,
(Newmont Mining).
Hauraki Region - Glass Earth occupies a significant ground
position adjacent to the Waihi/Martha Gold Mine; The Newmont-Glass
Earth Waihi West JV (Newmont earning 65%) and Hauraki JV (North and
Central Areas - 65/35) are currently being explored and managed by
Newmont.
Central Volcanic Region - Glass Earth has defined several
significant epithermal gold targets in this region including the
Muirs Reef project (Mamaku district).
In the South Island, exploration efforts are focused on the
Otago Region for mesothermal "Macraes-style" gold targets and
placer/alluvial gold.
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 release, please visit the
following link:
http://media3.marketwire.com/docs/gel0825.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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