AXG - Antipodes Gold [formerly GEL - Glass Earth]

[elZorro]

Here's one new diagram amongst many in the WKP report. This explains the physical features being mentioned through press releases. But it's also a great sign that the geologists are homing in on the monied parts of WKP.

[elZorro]

Andrew Hamilton from Glass Earth has compiled quite a few good figures and diagrams for the WKP NI 43-101 report. Here's another one attached.

This map from above shows the location and orientation of all the drills undertaken at WKP. Note that some of the drills were started in the early 1980s, many were quite short, there aren't many drills in total (37) and the spacings are well above what would be called infill drills (50 -100 metres apart). So there was a good excuse for Peter Grieve to simply not make any mention of the estimated resources. Not even a guess..

But the last page or so of the report mentions what's ahead. Some more planning, careful inspection of previous results, some more CSAMT work (on the ground with wires and EM fields) to locate more of the resistors that have been near the mineralisation. The area that they're looking at is Central and the Eastern Graben Fault. As the drill patterns into the EG area all seem to have been collared from the Central area, maybe the access is just terrible down there.

Each new drilling area has to be checked for any presence of Archey's frogs, and other flora and fauna, first. Remember the rare and special Archey's Frog is not known to be present on WKP, or anywhere nearer than 20km away, but they still should be looking. I haven't seen any mention of the JV sponsoring any frog research, which I think at this juncture would be a smart move.

The JV will also be preparing an estimate on the resources from the Central and the EG area, while the new lot of 2500mtrs of drilling will also be probing the same space later, once drill directions have been sorted.

Thanks to the helpful charts provided in the report, I added up all the drilling that was done since the 5,500mtrs programme was announced in April 2012. It came to 3,601.5 metres, including an aborted WKP32 drill that seems to have gone haywire, with no data being presented on it.

So actually, the next round of 2,500 metres is only another 601.5 metres of drilling over what was promised last year, about one drill length. Maybe they've just paused while assays come back in. I must admit I was surprised how small-scale the assay labs seem to be. Here's an opportunity for some entrepreneurs in NZ.

[elZorro]

The Placer report is out, will have to look on Sedar to see it properly.

So far, about $60mill (gross) of placer gold has been identified in all the earlier permits, but Drybread might have more to come, especially near the old diggings. Drybread has about 1/3 of the total, $20mill worth. If that's so, the Drybread spots will be worked through within 12 months.

The sample drills average about 8 metres depth. GEL's gear doesn't suit going lower than that generally, and it starts getting expensive moving overburden.

[elZorro]

The Sedar report is now viewable. I've spent an hour looking at it, this report is packed with data and goes into great detail. So far, the placer resources look generally good, and at Hecklers, the equipment has been working at the poorer end of the resource, it's getting into better areas. Hecklers will take a bit over a year to complete, the equipment could then be applied to help with Morans, which will take over two years at the current rate. Increasing operational hours and ore handling would change all this. I'll have a more detailed look later.

[elZorro]

Here are three images that help explain the situation at Drybread. Groundwater is the biggest area, and as the alluvial fan is further away from the Dunstan Range, the average grade has dropped off a bit. See chart above. Groundwater has not been mined yet, and GRU #2 is on the Drybread site somewhere but perhaps won't suit the area because it has a riffle trap, not the jig setup.

Morans has the biggest rig, GRU#1. The grade is slightly lower than at Hecklers, but to make up for that they've put it into the hottest spot first. At Hecklers, the tidy GRU#3 has been going well and is only at the cheap end of the area. The two operations could match outputs in the near future.

[elZorro]

NZResources had an article today.

Glass Earth plans to expand the scope of placer mining in Central Otago and Southland
11 February 2013

A technical report for stock exchanges by Glass Earth Gold Ltd (TSX-V & NZAX: GEL) showed alluvial gold deposits in Central Otago - now providing an improved cash flow for the company - had an indicated resource of 945,000 cubic metres for a contained 9,950 ounces of gold.There was also an inferred resource of 1.35 million m³ for a total 22,500 oz of gold (extra).

The detailed technical report covered five placer properties in Central Otago and Southland - Drybread, Matakanui, Vinegar Hill, Waikaia and Pigburn.

The inferred resources are within Matakanui, Vinegar Hill, Pigburn and Waikaia, respectively in the Manuherikia, Maniototo and Waikaia valleys, where the gold is contained within degradational gravels of Tertiary, Quaternary and Recent age, in shallow horizontal fluvial horizons within 1-11m of surface.

The report chronicles the historical mining, generally several campaigns of historical drilling, followed by Glass Earth’s drilling, bulk sampling and - where appropriate metallurgical-engineering data collection - on the five project areas.

The company completed a total of 887 drill-holes totalling 7,200m of drilling, 166 bulk sample/pits for 600m of sampling, and compiled and verified 341 legacy drill-holes for 4,500m of legacy drilling, averaging 8.2m depth of vertical drilling.

Glass Earth established its own Laboratory testing facility in Alexandra and said the prospects in Central Otago and Southland remain relatively underexplored.

At Drybread, where mining operations are currently underway, exploratory mapping and drilling is recommended to target the zone between the current operations, and historical mining activity adjacent to the Dunstan Range.

At Matakanui and Vinegar Hill, further drilling, and bulk sampling are recommended to improve the confidence in existing resources outlined, and examining the gold potential of recent gravel horizons identified to the south of both resources.

At Waikaia, this larger gold resource in the Southland basin requires significantly more drilling, pitting and engineering data to provide confidence to proceed further on what is a deeper and potentially clayey deposit.
Pigburn, whilst relatively modest, has both resource consent and mining permit in place, and is being examined as a small mining operation under franchise arrangement.

The report added that for all five properties, a two-stage programme of drilling, pitting and engineering studies is recommended, for an estimated cost of $NZ195,000.
Attachments

125 page technical report on Glass Earth's placer project. (Adobe PDF File) Download (2993KB)

[elZorro]

Yesterday, some of the pages on the GEL website were updated by the look of it. All previous gold discoveries and mined amounts have been carefully referenced. The three NI 43-101 reports, which are full of useful data, are all installed on the technical reports page, which is great.

http://www.glassearthgold.com/s/TechnicalReports.asp

The WKP drill results table is still waiting for new assays to be reported on, but the page here has been changed a bit and mentions the 2013 drill programme and other work. There wasn't much updating on the Muirs, Garibaldi, Placer pages.

[bucko]

heading south indeed! another 124,000 offered at 16cps and 150,000 at 19cps so theres a lot up for sale at the moment!

I have inreased my stake though at this price it was too good to say no,

I tend to agree with elzorro in terms of the future potential of this company and im leaning towards the 6-12 months before i hopefully see some real gains, Once the placers get up to optimum production and the company starts running a small profit and then again when we see more results from WKP/Muirs drills (more so for WKP as Newmont is the majority holder of the permit and they have the cash to go ahead with a project sooner rather than later)

[elZorro]

heading south indeed! another 124,000 offered at 16cps and 150,000 at 19cps so theres a lot up for sale at the moment!

I have inreased my stake though at this price it was too good to say no,

I tend to agree with elzorro in terms of the future potential of this company and im leaning towards the 6-12 months before i hopefully see some real gains, Once the placers get up to optimum production and the company starts running a small profit and then again when we see more results from WKP/Muirs drills (more so for WKP as Newmont is the majority holder of the permit and they have the cash to go ahead with a project sooner rather than later)

Bucko and others, yes it's a big change in the price today. This drop started on the TSX overnight, there was no company press release over there, and none here. It hasn't affected other goldie shares. So maybe it's a comment on Glass Earth in a subscription broadsheet or similar. Sabre rattling?

Here's a possibility.

http://www.stockhouse.com/bullboards...0&s=GEL&t=LIST

[elZorro]

The placer report shows just how involved it is, getting gold out of the gravels in Otago.

I wonder if this dewatering machine would be any use in recycling clean water for the Drybread operations? It might be a good way of cleaning up the slimes or clay residues.

http://dewatersludge.com/dewatering-sludge-mining/

Or a clarifier from Rocktec..

http://rocktec.co.nz/file/Brochures/...thickeners.pdf