NZ miner Glass Earth Gold strikes ... more gold

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.

This article is tagged with the following keywords. Find out more about My Tags

Comment & Question

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7747 0.0050 0.65%
AUD 0.9462 -0.0007 -0.07%
EUR 0.6294 0.0055 0.88%
GBP 0.4948 0.0008 0.16%
HKD 6.0099 0.0399 0.67%
JPY 92.0300 0.5750 0.63%

Commods

Commodity Price Change Time
Gold Index 1189.4 -2.770 2014-12-17T00:
Oil Brent 61.2 -1.020 2014-12-17T00:
Oil Nymex 56.8 0.920 2014-12-17T00:
Silver Index 15.9 0.138 2014-12-17T00:

Indices

Symbol Open High Last %
NZX 50 5496.6 5532.8 5496.6 0.40%
NASDAQ 4556.9 4651.9 4547.8 2.12%
DAX 9711.6 9767.5 9544.4 2.07%
DJI 17069.2 17389.3 17068.9 1.69%
FTSE 6336.5 6412.7 6336.5 1.16%
HKSE 22878.3 22935.0 22585.8 1.09%
NI225 17143.0 17274.2 16819.7 2.32%