Glass Earth Gold Consolidates New Discovery at "WKP SOUTH" and Commences Further Drilling
December 01 2011 - 5:00AM
Marketwired Canada
Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth") reports
gold assays for WKP 30, and that more drilling is underway at the WKP
gold/silver prospect near Waihi, New Zealand (North Island). At WKP South, the
first hole drilled in this new target zone was DDH WKP 29 which marked a new
gold discovery on the prospect. WKP 30 consolidates this discovery, and for the
first time notably intersects a significant body of andesite basement, the
preferred host of gold mineralisation in this region.
DDH WKP 30, targeting "WKP SOUTH" intersected 9.0 m @ 3.2 g/t Au and 2.6 g/t Ag;
the WKP gold/silver prospect is a joint venture with Newmont (65%) and Glass
Earth (35%).
NEW TARGET ZONE - "WKP SOUTH"
DDH WKP 30 drilled westward on section and underneath the initial discovery hole
(WKP 29) into this new system, represented by a strong resistor, intersecting a
complex zone of quartz veins and faulting, and broad widths of andesite beneath
the mineralised zone.
The strong resistor extends both north and south of the current drill holes.
Aeromagnetic and CSAMT resistivity geophysical surveys indicate this new zone
has a strike potential of at least one kilometre.
Hole No From To Interval metres Gold g/t Silver g/t
----------------------------------------------------------------------------
WKP 30 194 203 9 @ 3.2 2.6
----------------------------------------------------------------------------
including 194 237 43 @ 0.93 1.21
----------------------------------------------------------------------------
Previously reported
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
----------------------------------------------------------------------------
and 279.8 293 14.8 @ 4.82 2.7
Simon Henderson, President and CEO, commented that, "The WKP Project represents
a substantial zone of very encouraging gold-silver mineralisation, with three
major zones of gold/silver enrichment in a very large and fertile epithermal
alteration system of significant dimensions."
Recent exploration has focussed on the WKP WEST zone, represented by very broad
(+150m) widths of +1gm/t gold, highlighted by individual high grade intercepts
(highest 1.8m @ 62 g/t gold). The new discovery, 200m to the southwest at WKP
South, presents another exciting dimension on this developing project, with
individual high grade intercepts (3.2 @ 37.0 g/t gold) and importantly
highlighting the intersection of the preferred host lithology, andesite.
Previous work (1980's-1990's) successfully delineated a quartz stockwork zone to
the EAST also reporting significant mineralised intercepts in a 23 hole diamond
drilling programme. With the resistivity, magnetics and geochemistry on surface
indicating more potential zones of interest this project is at an exciting
stage.
A substantial infill/expansion drill programme is planned; drilling to establish
constraints of depth, continuity to the south, and mineralised structures in the
andesite has commenced.
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
----------------------------------------------------------------------------
167.2 168 0.8 @ 24.5 87.8
----------------------------------------------------------------------------
199.9 200.3 0.4 @ 12.3 23.8
----------------------------------------------------------------------------
204 205 1.0 @ 17.5 24.2
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
----------------------------------------------------------------------------
----------------------------------------------------------------------------
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
Hole No From To Interval metres Gold Silver g/t
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
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 Farm In (Newmont earning 60%) 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.
For additional information on the company, please:
- Visit the Company's website at www.glassearthgold.com.
To receive Company news via email, contact jeremy@chfir.com and mention "Glass
Earth news" in the subject line.
To view the figure associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/gel_12_01_2011_fig.pdf
Graphano Energy (TSXV:GEL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Graphano Energy (TSXV:GEL)
Historical Stock Chart
From Jul 2023 to Jul 2024
