Glass Earth Gold Announces Significant Gold Results At Muirs Project 65km South East of Martha Mine

Posted by Gold FM - Source Media Release on 19/07/2011

After announcing a significant result at Muirs Project which is near Te Puke, south east of Martha Mine, Glass Earth Gold’s President and CEO, Simon Henderson, said the results confirmed the potential of the Muirs prospect, and provided another platform for development work to confirm this.

Mr Henderson said “This has been an efficient and productive program, and it’s adding another level of enthusiasm for the Muirs prospect. As well as continuing with steady groundwork, we’ll now be gearing up for a new drilling campaign to keep adding depth to this exciting ground.”

The Muirs gold prospect lies 65 km southeast of the Martha Mine (Newmont Mining, 10m oz Au) at the southern end of the Hauraki Goldfield. Two quartz reefs were mined within this epithermal system until the 1930s, with over 43,000 oz of gold extracted from shallow surface and underground workings.

To expand and develop the prospect’s zone of identified mineralization, Glass Earth Gold’s recent exploration has been concentrated on surface channel sampling. These have discovered significant quartz veining, exhibiting multiple phases of gold deposition, across over 450 m of the prospect’s southwest extension.

“The area to the south and west has significant potential. We’ve been encouraged by our previous geophysics, drilling and petrology work – for instance drillhole MSDDH07 ran through extensive veining and alteration throughout, and ended in mineralization. To now uncover consistent alteration, plus high grades, at surface is a positive signal of the scale of what we’re looking at.”

Glass Earth Gold is now launching a further drilling program, in order to prove up identified mineralization and establish an NI 43-101-compliant resource.

About Glass Earth Gold

Glass Earth Gold is one of New Zealand’s largest gold exploration companies, with its geological team exploring promising gold prospects across a land position of over 10,000 square kilometres, in both the North and South Islands. The company held a net cash position of C$3.4 M at the end of Q1 2011 to fund exploration progress.

In the North Island, exploration efforts are focused on large epithermal gold systems in the Hauraki/Central Volcanic Region. This region is host to the 10 million ounce Martha Mine, operated by Newmont Waihi Gold. Drilling at the WKP West discovery, north of Newmont Mining’s Martha Mine, is progressing and results from drillholes WKP 28, 29 and 30 will be available soon.