Business
Glass Earth Gold - Drilling update
TSX-V: GEL NZAX: GEL Diamond Drilling in Three Regions in New Zealand
About this update from Chatham Rock Phosphate Limited
[{"type":"text","content":"\n\n\n\nTSX-V: GEL\nNZAX: GEL\n\nDiamond Drilling in Three Regions in New Zealand\n\n\nTORONTO, Aug. 22 /CNW/ - Glass Earth Gold Limited (TSX-V: GEL; NZAX: GEL)\n("Glass Earth") today provided an activity update on its drilling activities\nin the Mamaku-Muirs, Hauraki and Otago Regions in New Zealand. Drilling\ncontinues apace through the southern hemisphere winter.\n\n\nMUIRS REEFS GOLD PROPERTY, MAMAKU REGION (last reported upon 1 August)\n\n\nDiamond drilling continues on the first hole of a planned 10-hole\nprogram. Drilling beneath [email protected] g/t gold (surface channel across the Muirs\nreef) has reached the target zone, consisting of a broad zone of fractured\nbrecciated quartz veining which is proving slow drilling; similarities with\nthe Martha gold mine style of mineralisation (similar banded brecciated quartz\nveins) are apparent. The hole is currently at 102m, out of an expected total\ndepth of 160m and still in the target zone.\n\n\nExploratory drilling is anticipated to be near-continuous over the next\nfew months on this area encompassing the extensions to the north (Otawa) and\nto the south (Gibraltar). This epithermal gold prospect conjoins into one\nlarge continuous alteration and quartz veined system over 5,000m in length.\n\n\nHAURAKI REGION (JV Partner and Operator - Newmont Waihi Gold ("Newmont"))\n\n\n(last reported upon 29 February)\n\n\nNewmont has completed its first hole at the Komata prospect (total depth\n352.6m) encountering altered andesitic and minor rhyolitic volcanics. Minor\nnarrow quartz veins were observed. A second hole collared today is planned to\ntest drill this target prior to moving the drill rig to South Karangakahe to\ncontinue a series of exploration forays into the Hauraki region.\n\n\nA five-hole drilling campaign over the Owharoa target in early 2008\nreturned non-economic results.\n\n\nOTAGO REGION (last reported upon 16 June)\n\n\nThe exploratory drilling campaign continues in Otago over lower elevation\ntargets accessible during the winter. The drill-rig collared its first hole at\nSheep Wash, just 4km south of the Macraes Gold Mine (Oceanagold\nowner/operator), where co-incident magnetic-electromagnetic anomalies\ndemonstrate a potential shear-zone sub-paralleling the Hyde-Macraes shear. The\nhole targets anomalous gold-arsenic in soil geochemistry.\n\n\nThe dri...