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Glass Earth announces commencement of airborne geophysical surveys over Coromandel Central Volcanic Region in New Zealand
Glass Earth announces commencement of airborne geophysical surveys over Coromandel Central Volcanic Region in New Zealand.
About this update from Chatham Rock Phosphate Limited
[{"type":"text","content":"\n\n\n\n\nTrading Symbol: TSX-Venture: GEL\nShares Outstanding: 57,237,634 \n\nTORONTO, June 8 /CNW/ - Glass Earth Limited (\"Glass Earth\") wishes to\nannounce the commencement of the largest ultra-detailed airborne magnetic and\nairborne gravity surveys ever carried out in New Zealand. The surveys are\nbeing carried out over key areas of the Glass Earth prospecting permits\ncovering the Coromandel Central Volcanic Region (\"CCVR\") of the North Island,\nNew Zealand. The Coromandel Volcanic Region is the host to the 10 million\nounce Waihi / Martha Hill Mine owned by Newmont Mining, which is considered\nthe \"type\" epithermal gold deposit and the kind of epithermal gold deposit\ntargeted by Glass Earth\n\nAirborne Geophysical Surveys\n\nThe majority of the Glass Earth prospecting permits are covered by a\nlayer of volcanic ash varying from several meters to tens of meters in\nthickness. This layer of volcanic ash masks the terrane from conventional\nexploration methods, requiring alternative exploration methods to be utilized,\nnamely airborne geophysics.\n\nBased on the collection, compilation and modeling of all available\nexisting geological data over the CCVR, Glass Earth has identified 29 priority\ngold target areas that could potentially host large deposits of epithermal\ngold mineralization. In order to identify drill targets within these priority\ngold target areas, Glass Earth has commenced flying two major airborne\ngeophysical surveys:\n\n- A 40,000 line kilometer airborne magnetic survey currently being\n carried out by U.T.S of Perth, Western Australia. The survey commenced\n in March 2005 and is being conducted at 150 meter line spacings at an\n elevation of 60 meters above ground level. U.T.S are specialists in\n low level ultra-detailed aeromagnetic surveying, and pioneered the use\n of fixed-wing agricultural aircraft for airborne geophysical work.\n- A 6,000 line kilometer airborne gravity survey currently being carried\n out by Bell Geospace Limited of Aberdeen, Scotland. This survey\n commenced in April, 2005 and is being flown at 450 meter line spacings\n at an elevation of 90 meters above the ground level. Bell Geospace\n Limited provides the only worldwide source of high quality full tensor\n gravity gradient data using their airborne 3D Air FTG(TM) system.\n\nThe two ultra-detailed airborne geophysical ...