Quote:
Glass Earth’s North Island exploration has focused on the discovery of a major new epithermal gold deposit in the style of Newmont’s Martha Hill Gold mine, Waihi...
Muirs Reef
The Historic Muirs Reef Gold deposit has been the focus of preliminary
drilling, ground mapping and resistivity surveying over the past twelve months. Encouraging drill results in and around the old workings, and studies that indicate that we are in the high levels (ie there has been no erosion) of an intact complex epithermal alteration system.
Significant legacy/GEG core intercepts include:
30m @ 1.2g/t Au, from MSDDH01
16m @ 1.1g/t Au, from MSDDH02
20m @ 4.9 g/t Au
20m @ 3.6 g/t Au
8m @ 3.4 g/t Au
22 @ 2.8 g/t Au
9m @ 2.7 g/t Au
1m @ 358 g/t Au
Encouraging rock chips (1-6 g/t gold) and soil geochemistry (up to 454 ppb gold) indicate that two new potential vein systems enveloping the Muirs/Massey veins are gold mineralised; and this project remains a key gold prospect for Glass Earth.
Advanced Exploration targets
Hauraki (Newmont Jv) North island
Goldwyn (most promising?, results are due)
Wharekiriponga
Glamorgan
Mamaku North island
Muirs/Gibraltar/Otawa (lots of work done, large signature, expect MPA)
Central Volcanic Region North Island(All have been drilled)
Pukemoremore
Horohoro
Tahunaatara
Ohakuri
Otago South Island These have large signatures?
Serpentine (most promising?)
Game Hen
Sheep Wash
Fruidburn (highly ranked new target)
Potential Small high grade veins/resource evaluation (medium signatures?)
Ophir (with JV, Ophir Gold)
Sparrowhawk
Hindon/Game Hen
Lots Wife/Nenthorn (older prospects)
Waipori
Old Man Range
Nokomai
Placer South Island (Small signatures, for cashflow)
McAdie (see MPA, current interest high)
Star Trek (New EP)
Wallace, Ida Valley
St Bathans
Advanced projects such as Serpentine, and new high priority greenfields prospects like Fruidburn form two of 15 highly ranked prospects that are scheduled for detailed exploration activities.
These shallow high grade oxide ore systems are being examined to determine their potential to contribute to hard rock gold production via a mobile crushing and gravity separation plant. At Ophir, multiple low angle mineralised shears are overprinted by small multiple high grade oxidised quartz veins host to coarse gold. Historical drilling, trenching and rock chip sampling and limited underground workings show potential for the recovery of this high grade mineralisation by gravity separation.
Ophir and Sparrowhawk present opportunities to go directly to mining of these shallow high grade oxide ores, and in combination with other prospects held by Glass Earth ([B]Game Hen, Serpentine, Nenthorn, Lots Wife, et al) could provide sufficient gold resources to support production from a mobile plant.
Nenthorn (Lot's Wife nearby, Otago) is the other prospect maturing early this month, and again I'd expect to see an MPA being filed, in view of these comments.