Looks like Tinker's Diggings to the South West were very rich, but Drybread offered a bigger area suitable for sluicing.
GEL's two joined exploration permits cover the St Bathan's area down past Tinkers. This area, to one side of the Dunstan Range, was a hotbed of activity for alluvial or placer mining. Layered beds of gold grains ran right through this, so if GEL can find leftover material, these permits will be more valuable using the latest equipment with the higher gold price.
My only reservation is the St Bathans/Blue Lake area, being a prime site for very old fossils, some seeming to prove that not all of NZ sank beneath the waves before popping back up, to be repopulated with flora and fauna from other places. While the fossils were probably only discovered because of earlier mining, there should be special rules for that part of the permit.
I must have 'missed' the results of the Serpentine drills, at least 2 were completed a few weeks ago, but Serpentine is now persona non grata on the news releases. It did look good.
Game Hen near Hindon (close to Dunedin) is the next one. This is a previously worked area, but that was a long time ago, the gear was fairly simple. Look at this archived press article, I might have posted it before, but there were some huge lumps of gold found near Hindon, and up Game Hen Gully (Game Hen is the name of a stream). Not sure if a current journalist would get away with some of the comments made..but this article is very entertaining.
EP53181 (Game Hen) has not yet been approved by NZPAM, not according to the web. 40739 (adjacent) is GEL's Hindon permit, that is approved. Most of the other permits overlapping here are aggregate or clay soil permits (50847,50726,41316). Note Styles Gully is southeast of Game Hen Stream, both spots are southeast of Hindon settlement.
Game Hen has been mentioned by GEL for several years, and here's an article from the ODT in 2008 that covers the main prospects briefly. Sounds like GEL would like to prove it's more than alluvial, this could be a hard rock site.
Game Hen has been mentioned by GEL for several years, and here's an article from the ODT in 2008 that covers the main prospects briefly. Sounds like GEL would like to prove it's more than alluvial, this could be a hard rock site.
Much stronger interest on the TSX overnight, ended up at CAN 74c (NZD 89c), and plenty wanting to buy around that.
THanks ElZorro for your input. An old mate put me onto this one in May at 40 cents. ( silly me waited until they got a bit higher ). Happy to be on board now though.
THanks ElZorro for your input. An old mate put me onto this one in May at 40 cents. ( silly me waited until they got a bit higher ). Happy to be on board now though.
Elzorro, That reply was from me, Bermuda! I am sharing a computer in a room with with Selena over in Mooloolaba. I wonder how many other posts I have made under his code!?
Elzorro, That reply was from me, Bermuda! I am sharing a computer in a room with with Selena over in Mooloolaba. I wonder how many other posts I have made under his code!?
Hello there Selena/Bermuda, is it hot over there? (Just south of Noosa, QLD according to Google).
I suggest you hang on for the ride with GEL, who knows what they will find next, and already the Mcap is starting to reflect what a sensible valuation of their IP would reach. I found this satellite picture of the Game Hen/Styles Gully area. Over the years scrub has covered the workings, and on the flats are some paddocks in grass with a bit of cropping by the look of it. But farming would be lucky to show a profit of more than $2,000 per hectare per year. Mining activity in this previously-explored area would be far more useful to the economy. On most of the ground GEL has permits for, any annual returns from other uses would be minimal.
GEL is currently trading at CAN 67c, equivalent to NZ's close at 81c yesterday. A large parcel of 1 million shares has just shown up, mostly as a transfer (at 67c) between two parties at D&D Securities Inc, Toronto. Volume like this should be a good indicator for the share, which has traded at this level before.
Gold shares in general look good going forward: the HUI gold index is nearing a breakout position, gold has held firmly near US$1820 (it has not dropped back to $1500), and anything could happen next week.
The Glass Earth PR dept seems to be non-existent at the moment. There was no major address at the AUSIMM conference last month, the Q2 report has not yet been posted on the new CMS website, and in the Media section there is reference to an article on GEL in July, which appeared in Northern Miner. Naturally I tried to read this from the link, but no go.
I could read that, if I paid $99 for a subscription. Isn't GEL interesting enough for a more standard newspaper to report on? GEL should arrange for the article to be available from its website, perhaps by paying a small fee on shareholders behalf. The wider point I want to make is that if there is anything in this article (or other media) that would impact on the shareprice, everyone should be able to view it.
I would also like to see a photo of the large workshop and office in Alexandra, and see the phone numbers and addresses of the Wellington and Alexandra office in the phone book, and online in the NZ white pages.
The gold price took off overnight (Sept 2nd). It looks like breaking US$1900 soon, who knows what will happen next. Barrick Gold just reported great profits, is closely tracking the gold price once again. http://tmx.quotemedia.com/article.ph...&qm_symbol=ABX
See the chart comparing OGC, GEL and ABX against the gold price. GEL has outperformed since early July.
GEL's first placer (alluvial) mine permit was McAdies (German Hill Diggings). Here is a preliminary archaeological report on the site. The recovery gear was moved to the nearby GunClub permit site a few months ago. This is useful for the detail on the mining that was done. Nothing of great historical merit was found, if compared to many other sites in Otago I would expect, and no Maori artefacts either.
L&M Mining produced some Powerpoint slides at AUSIMM, some of which show the Glass Earth GRU used for their evaluation. The new renovated plant is fairly massive, the site being quite close to Alexandra.
Nice to see: the GEL website now has the Q2 report in place, and the media report page has been fixed. I even found the Alexandra office and phone number listed on the contact page (42a Russell St, Alexandra). This seems to be a large modern shed behind McCrostie Builders and Dunstan Homes. Much appreciated .
In the last few days, GEL has been granted an EP near Round Hill, in Southland. It's called Wakapatu, 202Ha, and there is some older mining history nearby. Quite a few Chinese miners made their fortunes here, by discovering that earlier European miners worked down to a false bottom, leaving a rich vein of gold underneath.
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Originally Posted by elZorro
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