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  1. #441
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    I've just located a new slideshow from Glass Earth I think, this should be very recent, and is now available on slideshare from September 2011. Interesting new graphics, showing some of the trenching work at Muirs, more detail on the massive WKP prospect with 3.5km of possible strike indicated.

    http://www.slideshare.net/CHFIR/glas...-gelv-oct-2010

    This slideshow has been made available through the CHFIR web page for GEL, http://www.chfir.com/content/clientprofile.aspx?cid=68

    While the link has been called October 2010 presentation, it's now a September 2011 Corporate Presentation, much updated. It chronicles that WKP30 is still due, which is the second WKP diamond drill into WKP South, a new area.

    The CHFIR webpage for GEL is otherwise badly out of date, who knows what the reason for that is. Even the address of GEGL in Wellington is wrong.

    Anyway, some very good new data here, worth having a good look at while we wait for more results. We shouldn't forget that WKP is the surprise package of immediate interest. Here's a local article (late August this year) that fleshes out a bit more detail from Simon Henderson:

    http://www.sunlive.co.nz/news/7710-g...aihi-gold.html

    "In non-mining terms we've had some nibbles and now we have hooked something - but we haven't got it on board," says Glass Earth's president and CEO Simon Henderson.

    More technically they have found a broad, wide system. They have drawn a line through it and drilled four holes across the middle. Now they intend drilling out at 100 metre intervals towards each of the pointy ends of the football shaped prospect.

    "If it is 800 metres long - Martha Hill is 1000 metres long - then it is a world class ore body," says Simon.

    It will be another 6-12 months and six more drill holes at $500,000 each to get the detail.

    "We celebrate our victories on the way," says Simon. "We have been waiting six or seven years to be getting results like this and we have invested more than $20 million in New Zealand in the process."

    Looked at optimistically, they have drilled four holes into the prospect and every hole has had economic mineralisation in it. "This has got some legs in it."
    So, what is a World Class gold deposit? Apparently one with over 3.2Moz of gold in it.

    World class base and precious metal deposits; a quantitative analysis

    Donald A. Singer
    U. S. Geological Survey, Menlo Park, CA, United States
    Over 62 percent of the 193,000 metric tons of gold discovered to date is located in four countries and more than 68 percent occurs in four types of mineral deposits. About 55 percent ofthe 1,740,000 metric tons of silver found is in four countries and 45 percent is in four types of deposits. Fifty-six percent of the 1.52 billion metric tons of discovered copper is from four countries and four types of deposits contain 88 percent of the total. Over 50 percent of both the 713,000,000 metric tons of zinc and 349,000,000 metric tons of lead discovered to date come from four countries and 70 percent of both metals occur in four types of deposits. All discovered gold would fit in a cube with a height of 22 m, silver in a 55-m cube, copper in a 550-m cube, zinc in a 460-m cube, and lead in a 310-m cube. At least 74 percent of gold, silver, zinc, and lead is in deposits having average grades above the respective median grades and 44 percent of copper is in deposits with average grades above the median grade of all deposits. Lower grade deposits contain less total metal than higher grade deposits. Tonnage of mineralized rock is an even better predictor of contained metal with over 96 percent of each metal's total residing in deposits having greater than median size and between 47 and 79 percent of metal contained in the largest 10 percent of deposits. World class deposits, defined as the upper 10 percent of deposits in terms of contained metal, account for over 86 percent of all gold, 79 percent of silver, 84 percent of copper, 71 percent of zinc, and 73 percent of lead. These giant deposits contain at least 100 metric tons (3.2 Moz) gold, 2,400 metric tons (77 Moz) silver, 2 million metric tons copper, 1.7 million metric tons zinc, or 1 million metric tons lead. Mineral deposits occur rarely in the earth's crust and large ones are especially uncommon. This analysis shows that only the unusually large deposits can significantly affect supply.
    If WKP proves to meet the minimum standard of World Class, GEL's 35% share is 1.12Moz, at say US$150 in-ground value per ounce on a bad day, it's about US$168 Million (that's a lot higher than current MCap), and they have many other permits.

    Last bit of research for today: Loeb Aron's site is still inscrutable. But Vicarage Capital (Europe) wrote up something on Glass Earth in March 2011.

    http://www.vicaragecapital.com/image...ss%20Earth.pdf

    At this stage Serpentine is still mentioned. Note nil mention in the detailed September report, so maybe the drills didn't hit much down there. However, there is some detail on Game Hen and Hindon, big area and big rock chip grades. Placer Gold International might have fronted up with $1.5 million to help with the placer sites.
    Game Hen and Sparrowhawk appear to be the most promising Otago hard rock sites at the moment.

    Value of gold in ground for junior miners: a recent article will help. P&P resources are the highest priced by far, which require lots of drilling.
    http://www.munknee.com/2011/07/how-t...in-the-ground/
    Last edited by elZorro; 26-09-2011 at 06:03 AM.

  2. #442
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    That's a lot better for holders: over half of the funds are already committed in the first tranche. That is one huge vote of confidence in how the next year is shaping up for GEL.

    http://www.glassearthgold.com/s/News...eportID=482055

  3. #443
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    WKP30. Anyone following Glass Earth over the last few weeks must be fairly interested in WKP generally, but WKP30 is a drill that was completed by late August 2011, 720 metres long and following a strong resistor below drill hole WKP29. From the latest presentation, here is a rough map of the location southwest of the earlier exploration work. No doubt these drill cores are being assayed in Waihi nearby, and as I mentioned in another post, this shouldn't take too long.

    If you look at the list of results on that page, the general trend has been one of increasing grades. I would think that a drill hole designed to follow the resistor (rather than pass through it) will bring back terrific data. Already there are intersections in other holes that are bonanza grades, up to 3oz per tonne. And this is a BIG prospect, with another pocket to the North and Southwest crying out for exploration too.

    Late August: WKP30 is "pending"

    September Presentation: WKP30 is "imminent"

    Small wonder the first tranche has been filled already. But even the small guys like me, might be able to get to multi-bagger status..
    Last edited by elZorro; 28-09-2011 at 07:58 PM.

  4. #444
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    WKP's importance to Glass Earth depends on the interest of Newmont, the joint partner. While Newmont is attempting to arrange the extension of mining activities near Martha Hill so operations can continue until 2020, there is some rising local opposition http://www.scoop.co.nz/stories/PA110...-of-mining.htm

    The existing Waihi milling infrastructure, fed by some local ore and perhaps a lot more concentrated ore from a place like WKP, must be appealing. There are no locals at WKP, I wouldn't think there is much special biodiversity that is not already well established elsewhere. In fact the whole place is probably riddled with rats, possums, and mustelids, killing off most of the chicks of any native birds that try and nest in the bush there. Existing income from the regenerating bushland in the area: nil (maybe carbon credits). It might have some benefits for trampers and a few deer/pig hunters, that's about it.

    If Newmont opened up a road into WKP to gain access, clobbered all the pests in the area to allow native species to thrive, and built a tidy opencast/underground mine, 700 jobs would remain in Waihi, govt coffers would be benefited, and tourists and trampers could get there and have a better experience. Who is missing out? Land area needed is minimal, try looking for the nearby Golden Cross mine on a satellite photo. Just a small spot in the bush.

    I can't have a good look at the WKP permit, as the NZPAM website is still mostly down, after a huge crash. But remember this press release from July 19:
    http://www.glassearthgold.com/s/News...eportID=467655

    At that stage, WKP28,29,30 assays were due soon. As it turned out, just 28 and 29 were released in late August, WKP30 (drilled from the same site as WKP29) is now imminent, and we're into October. So it shouldn't be a long wait.

    Looks like an easy half-day return walk into the WKP area. Maybe I should give it a go. Are you keen Vtrader?

    http://www.aatravel.co.nz/about-newz...region-details
    Last edited by elZorro; 01-10-2011 at 05:42 PM.

  5. #445
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    Default elZorro

    Why do you think the share price in Canada has dropped so fast? In prior months, a quick run up in the price was soon followed with a good press release. I am wondering if some results are coming back flat, and it is insiders unloading. Or maybe it is potential PP investors trying to get the PP price lowered. What are your thoughts?

    BTW, thanks for all your updates. I check this site at least twice a day, in anticipation of your posts. Keep up the good work, it is very much appreciated!

  6. #446
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    El Zorro,
    I got some of these ( not nearly enough ) on the advice of you and a mate who is actually turning out to be a bit of a Guru. I had a chat to him in the weekend. Everything is still on tract for this baby to fire. Thanks for all your input.

  7. #447
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    Thanks guys, nice to see some other names pop up. I think the TSX price drop (mostly on low volume) just reflects a lack of news, and traders moving on after a few days. Unfortunately with just one or two rigs going, the drilling assays are a bit too spaced out. Maybe WKP30 is being bundled with the next drill result. In any case, if you want some bargain shares in GEL, they usually appear on the TSX, it's just more volatile than the NZAX. But there's no denying that Glass Earth is building up a momentum, and junior explorers that move up to the next step are generally multi-baggers. So I'm not too worried at the moment, and I'm holding plenty.

  8. #448
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    The NZPAM website is now back up and running. Here is a link to the mineral section of the site, for existing permits. http://www.nzpam.govt.nz/cms/online-...ate/CMINPSCURR If you supply the number 40598 as a permit number, all of the detail on the permit for the land including the WKP site will come up, in the document.

    This reveals that the original site was bigger and started with a term of 5 years, issued to HPD NZ in 2003, and GEL took that over and soon formed a joint venture with Newmont, for 40598 plus other permits. The term has been increased for another 5 years, ending in May 2013, and two extensions of land have recovered most of the space HPD started with. It also confirms most of the land is on the NZ conservation estate, but that is not unusual, and there isn't much else you can do with rugged areas that have probably had all the good timber milled out in earlier years.

    Newmont/GEL have just passed the 96 month stage, so had to produce data to NZPAM from 1,000 mtrs of drilling. Maybe they've just made that timeline. Within the next two years, they have to do another 2,000 metres, if I read it correctly. Also a scoping assessment etc. On the earlier maps, Waihi Town is closer than I thought. Resistance to mining under the town might speed things up at WKP.

  9. #449
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    September 26, 2011
    GLASS EARTH CLOSES FIRST TRANCHE OF $5 MILLION PLACEMENT




    Glass Earth Gold Limited (
    TSXV-GEL; NZAX-GEL) ("Glass Earth") today announces that it has closed the first tranche of its previously announced non-brokered Private Placement. A total of 4,717,184 Units have been sold at a price of $0.55 per unit for gross proceeds of C$2,594,451.
    Each Unit consists of one common share and one half of a common share purchase Warrant. Each whole Warrant entitles the holder to purchase one common share at a price of C$0.80 per share, exercisable for a period of 24 months from the date of issuance.All securities issued pursuant to the private placement are subject to a hold period and may not be traded until January 27, 2012.The Company anticipates closing a further tranche shortly. The proceeds of this financing will be used for drilling, mineral exploration and general working capital purposes.
    Yes, I thought that was right: just a few days ago a large investor(s) valued Glass Earth at C55c (NZ70c) a share within 4 months. Has anything material changed for Glass Earth since then? No.

    Here's an excerpt from the June Media report from GEL's website:
    Glass Earth employs a scientific, detail oriented, exploration strategy using the newest available technology, implemented by a carefully chosen exploration team in order to explore large prospective areas for big gold deposits. Large amounts of data were gathered in order to build a three dimensional model of their claim geology. Glass Earth was the first exploration company to use modern geophysics in New Zealand, completing a 37,000 line-mile survey covering all targeted areas.


    The company also conducted ESCANs, a ground based, 3D resistivity survey method employing a grid of electrodes that provides precise information about the geology and mineralization below. They acquired a geochemical data base from Newmont Mining [NMC-TSX; NEM-NYSE] who conducted an extensive geochemical survey of the Otago region, on the South Island; Newmont withdrew from the area pending a sale of their Waihi Mine (circa 1995). Once all of the data was compiled, the company began the work of identifying and exploring the targets with the most potential.

    I forgot about this, Glass Earth has old links with Newmont. Maybe exchanging Otago data with JV options for WKP are part of a sensible deal. Of course, improving gold prices meant Newmont stayed in Waihi.

    Things are looking more positive on the TSX overnight, and Vicarage Capital published this a day or so ago:

    http://www.vicaragecapital.com/reports/2011/oct/gel.pdf

    Last edited by elZorro; 06-10-2011 at 06:34 AM.

  10. #450
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    Both of Glass Earth's airborne scan datasets from CVR and Otago have been released to the public through NZPAM. http://www.scoop.co.nz/stories/BU111...s-released.htm

    Otago Regional Council added some extra funding for the Otago set, so they obtained the data earlier, and it was more detailed.

    Anyway, GEL has moved to retain permits on many areas of interest, in advance of the full release. I would assume that more local ground proving data is not included.

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