Glass Earth Gold has intersected mineralization measuring 227.5 metres @ 0.53 grams/tonne gold and 1 gram/tonne silver at its WKP project site near Hauraki on New Zealand’s North Island. This latest intersection was confirmed in a 5500 metre drill program which has continued to demonstrate the East Graben prospect’s potential to host significant epithermal gold deposits.
The company says the style of mineralization mirrors those associated with major gold mines in the region including joint venture partner Newmont’s 10 million ounce Martha mine.
Glass Earth Gold’s president Simon Henderson says, “This project continues to surprise with the demonstration of its large scale and coherent gold and silver mineralized widths. Every drill hole completed by the JV has intersected significant mineralization and demonstrated potential for both narrow high grade gold veins and/or broad low grade mineralization.
“The intersection of this broad low grade mineralization adjacent to the new Eastern Graben structure identifies yet another zone, or additional extensions of the Eastern zone of the WKP project. Step-out drill testing is already under way.”
The WKP epithermal system has magnetic/alteration characteristics similar to the Martha epithermal system and has open-along-strike potential of at least 1-2 kilometres. The WKP central zone currently outlines an area about 180 metres wide with a strike continuity of over 800 metres. Glass Earth Gold and Newmont began drilling exploration at the WKP prospect in March 2010.