Document Actions
Glass Earth encouraged by Taupo volcanic zone exploration
30 March 2007 - Gold exploration company Glass Earth Ltd reports that results have been very encouraging from its Tahunaatara infill resistivity and soil geochemical surveys in its Taupo volcanic zone permit to be explored.
In the Glass Earth's Management Discussion and Analysis for the seven months ended December 31, 2006, the Toronto Stock Exchange-listed company says the work yielded eight drill-ready targets, and five other promising targets in its Tahunaatara target near Atiamuri, about 30km north of Taupo.
Tahunaatara was where the company's first drill home in May 2006 discovered anomalous gold in a major new epithermal system in the 2.2km x 0.7km geophysical anomaly.
The drilling programme recommenced on November 1, 2006 at Tahunaatara. Following the completion of the third hole drilled (TNTDDH 4) a review of the project, including surface mapping, logging, petrological examination of the core, and a detailed evaluation of the breccias described and mapped in Fracsis, has determined that the breccias can be recognized as a very low magnetic feature in the magnetics.
Several gram gold results (up to 8gm/t AU) are reported in the vicinity of breccias with silicification outcropping in the southeast corner. These are coincident with a resistivity high and a strong soil geochemical anomaly.
"It is interpreted that these breccias represent the best source/conduit of geothermal fluid, whilst the silicified rhyolites are the preferred host", the Glass Earth report says.
TNTDDH005 commenced in mid-January 2007, and was planned to test the coincidence of these features at the lowest geographic region allowing penetration to deeper levels of the hydrothermal system.
The best intercepts for TNTDDH03 and TNTDDH04 were:- TNTDDH03: 11m @ 0.45ppm (221-232m), 4m @ 0.38ppm (246-250m) and 2m @ 0.28ppm (230-232m); TNTDDH04A: 7m @ 0.24ppm (173-180m) and 8m @ 0.22 ppm (148-156m).
The resistivity / soil geothermical sampling team continues both evaluating and infilling on targets, and progressing new targets.
Glass Earth says ground-based exploration activities, including resistivity surveys, have also been carried out in other permits in the central volcanic region to better define drill targets.
Completion of ground resistivity and solid soil gold geochemical surveying highlighted that 6 of the 14 targets tested to date have coincided magnetic lows, gravity highs, resistivity highs and traces of gold in soils (up to 30 ppb).
The company report says Galss Earth's pipeline of prospects at different stages of development offers a well-balanced portfolio of quality exploration prospects.
These included the recent joint venture agreement with US-based Newmont Mining Corporation on the Hauraki region permit portfolio and Glass Earth's current helicopter-flown geophysical survey of the Otago mesothermal gold region, similar to its earlier aerial survey of the Hauraki/Central Volcanic regions.
Glass Earth's medium term aim is to develop into a significant gold producer, but the company also sees earlier opportunities to create and capture value purely through successful exploration.
Recent financing activities in Canada and New Zealand should provide Glass Earth with adequate exploration funding through to 2008.
Source: Glass Earth.
Tahunaatara was where the company's first drill home in May 2006 discovered anomalous gold in a major new epithermal system in the 2.2km x 0.7km geophysical anomaly.
The drilling programme recommenced on November 1, 2006 at Tahunaatara. Following the completion of the third hole drilled (TNTDDH 4) a review of the project, including surface mapping, logging, petrological examination of the core, and a detailed evaluation of the breccias described and mapped in Fracsis, has determined that the breccias can be recognized as a very low magnetic feature in the magnetics.
Several gram gold results (up to 8gm/t AU) are reported in the vicinity of breccias with silicification outcropping in the southeast corner. These are coincident with a resistivity high and a strong soil geochemical anomaly.
"It is interpreted that these breccias represent the best source/conduit of geothermal fluid, whilst the silicified rhyolites are the preferred host", the Glass Earth report says.
TNTDDH005 commenced in mid-January 2007, and was planned to test the coincidence of these features at the lowest geographic region allowing penetration to deeper levels of the hydrothermal system.
The best intercepts for TNTDDH03 and TNTDDH04 were:- TNTDDH03: 11m @ 0.45ppm (221-232m), 4m @ 0.38ppm (246-250m) and 2m @ 0.28ppm (230-232m); TNTDDH04A: 7m @ 0.24ppm (173-180m) and 8m @ 0.22 ppm (148-156m).
The resistivity / soil geothermical sampling team continues both evaluating and infilling on targets, and progressing new targets.
Glass Earth says ground-based exploration activities, including resistivity surveys, have also been carried out in other permits in the central volcanic region to better define drill targets.
Completion of ground resistivity and solid soil gold geochemical surveying highlighted that 6 of the 14 targets tested to date have coincided magnetic lows, gravity highs, resistivity highs and traces of gold in soils (up to 30 ppb).
The company report says Galss Earth's pipeline of prospects at different stages of development offers a well-balanced portfolio of quality exploration prospects.
These included the recent joint venture agreement with US-based Newmont Mining Corporation on the Hauraki region permit portfolio and Glass Earth's current helicopter-flown geophysical survey of the Otago mesothermal gold region, similar to its earlier aerial survey of the Hauraki/Central Volcanic regions.
Glass Earth's medium term aim is to develop into a significant gold producer, but the company also sees earlier opportunities to create and capture value purely through successful exploration.
Recent financing activities in Canada and New Zealand should provide Glass Earth with adequate exploration funding through to 2008.
Source: Glass Earth.
