WKP, HAURAKI REGION, NEWMONT JV (65% Newmont: 35% GEL)
The WKP Project is held by the Hauraki Joint Venture (HJV), an agreement between Newmont Waihi Gold (65%) and Glass Earth Gold Limited (35%). Exploration to date is carried out by, and managed, by Newmont Waihi Gold, and supervised by experienced exploration personnel.
An NI 43-101 Technical Report has been compiled on the project and is available from Sedar, or the Technical Reports section.
The WKP Project is developing as a significant new gold discovery within a large low sulphidation Au-Ag epithermal system capable of hosting a major gold deposit. The property is located in the southern Hauraki Goldfield, 10km north of the 10Moz Martha Gold Mine (Braithwaite R. L., 2005) , and 110km south-east of Auckland, New Zealand's largest city.
Exploration on the WKP project demonstrates that it is a very large permissive low sulphidation epithermal gold system (approximately 1.2km by 1km). Following on from historical exploration of the Eastern Zone evaluated by various parties in the 1980's and 1990's the Hauraki Joint Venture work has identified two other significant zones of mineralisation (Central and Western Zones), and recently intersected mineralisation on the Eastern Graben structure where the current focus of drilling activity continues.
WKP Conceptual Section
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WKP Central - T Stream vein breccia
(click to enlarge) In the Central Zone broad low grade intercepts are a feature (WKP26 151m at 1.2ppm Au, and WKP27 102.2m at 1.1 ppm Au) with the margins of a voluminous rhyolite rock type providing a focus of hydrothermal fluid flow and high grade gold mineralisation. The interior of the competent and homogeneous rhyolite rock has permitted regular fracturing and broad hydrothermal fluid flow with resulting consistent large-tonnage low-grade gold mineralisation.
This contrasts with the East Graben structure within the Eastern Zone which is typically dominated by discrete veins. Drill core from 580m down-hole in WKP35 shows episodic high level crustiform banded veins, hydrothermal and tectonic brecciation corresponding with multiple phases of mineralisation, hosted on the position of rhyolite and andesite lithologies. Assay results for this interval returned 7.9m grading 5.1 ppm Au, including 3.4m grading 8.3 ppm Au. This style of mineralisation on the Eastern Graben structure was new for this project and important because there are strong similarities with major gold mines in the vicinity, namely Martha, Favona, and Golden Cross.
The broad low grade gold mineralisation within the Central Zone and veins relating to the East Graben structure lie on a major north-north--east trending structure marking the intersection of rhyolite (west) and more intermediate andesite pyroclastics (to the east). This is a district scale structure, identified on magnetic and resistivity (geophysical) data, and may represent the primary focus of significant coherent mineralisation in the WKP area.
The HJV plans a significant exploration programme for 2013, focussing initially on the evaluation of the Eastern Graben Structure and to include a project first resource estimate, metallurgical testwork, rock engineering study, geophysics and a 2,500m diamond drill programme. The estimated cost for this programme is NZ$2.7 million.
Recent news releases on the project.
|October 31, 2012||GEGL intersects significant new epithermal gold zone -- East graben at WKP|
|September 25, 2012||GEGL confirms potential for the discovery of a significant gold deposit at WKP|
|April 18, 2012||GEGL Commences 5,500 m Drill Program at WKP|
|February 29, 2012||GEGL Strikes 9.7m of 17.2g/t Gold and 24.2 g/t Silver at WKP Central|
|December 01, 2011||GEGL Consolidates new discovery at WKP South (Now referred to as WKP West)|
|August 26, 2011||GEGL makes new discovery at WKP South (Now referred to as WKP West)|
|May 12, 2011||Significant high grade drill results - WKP West (Now referred to as WKP Central)|
2012 Drill Intercepts:
WKP Drilling 2012
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WKP35 Resistivity section and core sample
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Resistivity section along WKP24
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2010/11 Drill Intercepts:
|Hole #||From||To||Interval(m)||Gold (g/t)||Silver (g/t)|
Mr Simon Henderson, MSc Geology (CODES), an AusIMM Chartered Professional under the Discipline of Geology; is a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed and approved the technical information given above.
Braithwaite, R. L. (2005). The Martha Hill Epithermal Au-Ag Deposit, Waihi -- Geology and Mining History. in Geology and Exploration of New Zealand Mineral Deposits, Monograph 25 (ed: T Christie), pp 171-178 (The Australian Institute of Mining and Metallurgy: Victoria).