Thursday 1st March 2012 |
Text too small? |
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
No comments yet
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director
FBU - Retail Entitlement Offer Opens