Glass Earth strikes gold at WKP prospect

Thursday 1st March 2012

Glass Earth Gold, the miner whose shares trade on the NZAX and Canada’s TSX Venture Exchange, said it has struck gold in its WKP venture with Newmont Mining at Waihi.

While drilling in the central zone of the prospect, the mining company intercepted an interval of 9.7 metres containing 17.2 grams/tonne of gold and 24.2 g/t of silver, it said in a statement. WKP lies 10 kilometres from Newmont’s Martha gold mine.

“This new intercept is a highly encouraging display of WKP’s gold potential,” said Simon Henderson, chief executive. “We had already found a broad intersection of over 150m of mineralisation across the central zone and to hit high grade intersections where we didn’t expect adds real excitement to our exploration.”

The Glass Earth venture with Newmont began drilling exploration in March 2010. In October, it raised C$2.9 million in a private placement to fund exploration costs.

The shares last traded at 45 cents on the NZAX and have climbed 13 percent this year.

(BusinessDesk)

BusinessDesk.co.nz

Comments from our readers

No comments yet