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Mining company Glass Earth Gold claims a "new and significant highgrade gold intercept" after drilling in the “Central Zone” of the WKP gold-silver prospect in Waihi.
Glass Earth Gold’s president and chief executive officer, Simon Henderson, said that the new intercept displays the full gold potential of the WKP prospect.
“We had already found a broad intersection of over 150 meters of mineralisation across the Central Zone, and to hit highgrade intersections where we didn’t expect adds real excitement to our current exploration.”
The mining company had drilled through to a 9.7-meter interval, resulting in a find of over 17 grams/tonnes of gold and over 24 grams/tonnes of silver.
Glass Earth Gold’s (35%) and Newmont Mining’s (65%) joint venture began drilling exploration at Waihi’s WKP prospect with DDH WKP 24 in March of 2010.
Glass Earth Gold is one of New Zealand’s largest gold exploration companies, with the miner having held a net cash position of C$3.6 million at the end of the fourth-quarter in 2011 to fund exploration progress.