Glass Earth and Newmont discover new gold quartz vein structure at WKP gold prospect north of Waihi

Sources: Glass Earth Gold, Newmont and Lindsay Clark

Both Glass Earth and operator Newmont Waihi Gold, who earns 65% of the WKP prospect, are encouraged by the results of assays from the first two of three diamond drill holes which targeted the new WKP west zone. Simon Henderson, president and chief executive of Glass Earth is confident that this exploration phase will provide substantial insight into the characteristics of the new zone (WPK West) and the overall WKP prospect.

WKP is a 2 km mineralised alteration zone, 5 km north east of the Golden Cross deposit that produced 634,000 oz of gold in the 1990s. Exploration in the late 1980s and early 1990s identified a very extensive altered and gold mineralised system identified as the WKP stockwork zone containing several ore grade intersections.

Glass Earth said the WKP epithermal system has magnetic/alteration characteristics similar to the Martha mine and has open along-strike potential for several kilometres southward.

WPK West is parallel to the previously drilled WKP prospect and outlines an area approximately 180 m wide with a strike continuity of over 600 m.

Drill hole WKP24 intersected mineralisation of 156 m @ 1.6 g/t gold and 2.6 g/t of silver, including 1.6 m of 30.2 g/t gold and 44 g/t silver; and 13.8 m of 6.6 g/t gold.

WKP 25 intersected mineralisation of 15 m a@ 9.3 g/t gold, including 1.8 m of 61.4 g/t gold and 80 g/t of silver.

Both WKP24 and WKP25 intersected broad alteration and intense silicification over wide intervals.

The drilling results from WKP24 and WPK25 confirm that mineralisation extends beyond known mineralisation at WKP. Stockwork quartz veins and gold-silver mineralisation were encountered adjacent to major fault structures with at least two high grade intersections apparent in broad mineralised intervals.

All three holes (WKP24-26) were collared on the same drillpad. Assay results are awaited for WKP 26.

The WKP West zone represents a compelling target in its initial stage of exploration. Surface mapping and additional geophysical data acquisition are planned to assist additional step-out drilling.
 

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