Friday, 26th September 2008 (365 views)

New Zealand-based Glass Earth Gold has revealed that drilling on its Muirs Reef project has provided "strong encouragement".

Results such as 1.2 g/t Au over 30 metres have indicated that a broad section of mineralised veins is present at the site in the Bay of Islands.

The company also provided an update on its operations in the Otago and Hauraki regions.

At the Komata prospect in Hauraki, the firm's joint partner Newmont Waihi Gold has conducted exploration using two holes. The first, at a depth of 352.6 metres, uncovered minor narrow quartz veins.

A second hole reached 200 metres out of a 250 metre target.

In Otago, exploratory drilling programmes are underway at the Sheeps Wash and Gold Pine projects and work is set to begin in the Game Hen and Serpentine areas.

The seabed in the Kermadec Arc is rich in minerals and is one of New Zealand's new frontiers for gold exploration, according to the Otago Daily Times.

 

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