Greka Engineer. Share Discussion Threads

[stu31] 19/4/2012 21:21

WKP gold quest steps up on the Coromandel
Simon Hartley - 20 April 2012


A new drilling programme on the WKP gold-silver prospect near Waihi will see $4 million being spent by the partnership of Newmont Waihi Gold and Glass Earth Gold Ltd (TSX-V & NZAX: GEL).

Glass Earth has a 35% share in the project where a total of 5,500 metres are to be drilled on targets within the permit which covers 3 kilometres by 5 km, 10 km from Newmont Waihi Gold's Waihi gold mining operations.

Glass Earth's chief executive Simon Henderson said the joint venture WKP prospect had been inspired by earlier exploration showing broad zones of about 100m of 1 g/t gold and also silver and also "significant high grade" intercepts of widths of between 3m-9m grading between 15 to 60 g/t gold and silver.

"Results to date have demonstrated that this project represents a very large gold mineralised system. The current programme will test both the size and tenor of broad mineralised zones and connectivity of high grade intervals," Henderson said.

Glass Earth said WKP continued to demonstrate new "enticing" targets south of the present drilling areas and higher grade intersections within the current drilled zones, such as 9.7m @ 17.2 g/t gold and 24.2 g/t silver.

Glass Earth and Newmont have another joint venture in the region, Waihi West, which Newmont is managing and Glass Earth is exploring its Muirs Reef prospect further south on its own.

Muirs Reef has produced encouraging recent results including 2m @ 38.4 g/t Au and 49.2 g/t Ag.

In Otago, Glass Earth is close to having the last of three alluvial gold production

operations begin and has also been getting positive results from other Central Otago sites. It has two operations in the Manuherikia Valley and one in Ida Valley.

[stu31] 29/3/2012 22:40

GLASS EARTH GOLD LIMITED
For the year ended December 31, 2011
MANAGEMENT'S DISCUSSION AND ANALYSIS
(All amounts stated in Canadian dollars, unless otherwise indicated)
Attention is called to a caution in respect of
Forward-Looking Statements - included at page 33
ANNUAL OVERVIEW
EXPLORATION
(please refer to the individual sections following for fuller description of the exploration
activities).

· WKP gold project in Hauraki, New Zealand (Glass Earth 35%)
Five, long (up to 720m), diamond drill holes provided a successful follow-up of the
encouraging results from the 2010 diamond drilling campaign on WKP West.
Ø WKP 27 intersected 152.4m @ 1.16 g/t Au including 1.4m @ 30.7 g/t
Au and 77.7 g/t Ag; ;
Ø WKP 28 intersected 49m @ 1.08 g/t Au and 3.32 g/t Ag; and a new zone
was discovered at WKP South (WKP 29);
Ø WKP 29 intersected 3.2 m @ 37.0 g/t Au and 17.0 g/t Ag:
Ø WKP 30 consolidated this discovery, intersecting 9.0 m @ 3.2 g/t Au and 2.6
g/t Ag;
Ø The strong resistor targeted extends both north and south of those drill holes.
Aeromagnetic and CSAMT resistivity geophysical surveys indicate that this
new zone has a strike potential of at least one kilometer;
Ø WKP 31 was completed in December to a depth of 598m. Initial assay
results include 9.7m of 17.2g/t Gold and 24.2 g/t Silver.
Glass Earth and its partner Newmont have committed to an extensive drilling
campaign for 2012 of approximately 6,000m to advance this project.

· MUIRS gold project in Mamaku, New Zealand (Glass Earth 100%)
An independent review of the Muirs-Massey Reefs area was completed in April 2011,
leading to more defined exploration work.
Ø A 5 hole diamond/RC drilling program completed in Q1
Ø Further trenching over the recently detected high surface gold values (up
to 17 gm/t Au in situ rock chips) commenced in April 2011;
Ø Ten trenches were dug with a combined length of 235m and all, but
one, intersected significant quartz veining and were channel
sampled. Assay results received were very positive including 24m
@ 5.72 g/t Au;
Glass Earth Gold Ltd – MD&A December 31 2011 2
Ø A 17 hole drill program of approximately 2,345m at the Massey
Reef commenced in late November with the intention that it enable
a resource calculation to be undertaken for the Massey Reef;
Ø The first two drill holes have been completed at the Massey Reef with the
first drillhole (MSDDH08) penetrating a highly altered andesitic volcanic
unit with variable quartz veining throughout. Results included an intercept
of 17m @ 1.71 gm/t Au. The second drill hole (MSDDH09) reached 191m
with assays pending.

· OPHIR gold project in Otago, New Zealand (Glass Earth 50%)
Ø Metallurgical work on Ophir ore samples is encouraging, with between 82-
85% of gold recovered in gravity separation processes;
Ø Progress was made on the design and costing of a pilot processing plant for
the Wai-iti shear zone.;
Ø Additional drilling was undertaken (17 holes for 446m) across 8 shear
zones. Initial lab results are encouraging, including 4.2 gm/t Au over 8m
in OPH013, and 5.8 g/t Au over 6m in OPH014;
Ø Remaining samples from the drill program were submitted for assay by
cyanide leach;
Ø Additional work is being undertaken as a pre-requisite to a formal
proposal for capex and mining for the consideration of the Joint
Venture.

FINANCIAL
· Successful Fundraising – the Company raised a gross $2.9m by private placement
in late Sep/early October together with an additional $0.25m upon the exercise of
warrants and options;
· The Company's cash position as at December 31 2011 was $3,614,000;
· Financial results - The net loss for the year ended December 31, 2011 was
$1,714,000 including a non-cash write-off of accumulated exploration expenditures
of $695,000.

PLACER MINING
· Placer mining continued with only one Gold Recovery Unit effectively operating at a
time. Cash contribution from the Company's 50% owned placer mining operation(s)
totaled $316,000 for the year ended December 31, 2011;
· The placer joint venture owns 3 Gold Recovery Units and has mining permits and
resource consents to allow all three to be operating.
· In March 2012, the Company acquired the other 50% of the placer JV for $4m in
cash, deferred cash and Glass Earth Gold Ltd shares (see Subsequent Event note on
page 27).
· The Company intends to have a second GRU running in Q2 and a third in Q3.
This, together with increased throughput and 100% ownership should
ensure a significant improvement in gold production and cash generated.

[stu31] 28/3/2012 15:12

Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth" or the
"Company"), a New Zealand hard-rock gold explorer, is pleased to announce that
TSX Venture Exchange approval has been granted for the issue of shares (reported
15 March 2012) for acquisition of full ownership of its placer gold production
joint venture. Settlement of the transactions took place on March 19, 2012.


As reported on 15 March 2012, taking full control of these placer mining
activities will enable the Company to significantly accelerate and increase gold
production capacity. Glass Earth is continuing with gold production at the
"Gunclub" mining operation while preparing for additional operations to commence
nearby in New Zealand's Otago region. Site preparation has commenced at the
"Drybread" minesite, with a second placer mining operation expected to commence
within three weeks. The Company is also refurbishing and upgrading a third Gold
Recovery Unit ("GRU") which is expected to be installed and running as another
operation at Drybread by June.


Glass Earth Gold also announces today that it has filed its December 31, 2011
Year End Financial Statements and associated Management's Discussion and
Analysis ("MD&A") report pertaining to that period with appropriate regulatory
authorities.


During 2011, the Company announced the completion of two fundraising exercises
which raised $2.9 million (before issuance costs), together with an additional
$0.25m upon the exercise of warrants and options. As at 31 December 2011, the
Company held $3.6m in cash. All dollars reported in this News Release are in
Canadian Dollars.


The Company recorded a net loss for 2011 totaling $1.714 million (2010 - $1.467
million). Placer mining continued with only one Gold Recovery Unit effectively
operating at a time. Cash contribution from the Company's 50% owned placer
mining operation(s) totaled $316,000 for the year ended December 31, 2011.
Placer mining expansion in 2012 should see a significant increase in both gross
and net revenue.

[stu31] 19/3/2012 20:18

Glass Earth buys out Goldmines NZ

By Simon Hartley on Sat, 17 Mar 2012

Boutique gold producer Glass Earth Gold - also one of the country's biggest gold explorers - has bought out its Otago joint-venture partner for $4 million in cash and shares and is targeting quadrupling of gold production from Central Otago this year.

It appears 2012 could be the year Glass Earth finally hits its straps after five years of, at times, surviving hand-to-mouth, and repeatedly having to seek near-urgent recapitalisation.

Glass Earth, whose principal listing is the Toronto stock exchange, has spent about $35 million in gold exploration throughout the country in almost five years, much of it in Otago, and is this year expanding gold production from one to three sites in Central Otago.

With $C3.6 million ($NZ4.51 million) cash in hand at the end of last year, the existing placer-gold (loose alluvial) production unit in the Ida Valley will be joined by two more, at adjacent sites in the Manuherikia valley.

On Thursday, Glass Earth bought placer-gold production joint-venture partner Goldmines New Zealand Ltd and the other 50% share of the joint venture's mining operator, Dunstan Mining Ltd, which had overseen placer mining and exploration projects throughout Otago.

Glass Earth chief executive Simon Henderson said all operations, equipment and staff from Dunstan and Goldmines had moved directly under Glass Earth's umbrella.

"Taking full control of placer-mining activities will enable the company to significantly accelerate and increase production capacity. We want to be generating a healthy cash surplus from placer [gold production], which will set us apart from other greenfields [new development] operations," he said when contacted yesterday.

Glass Earth at present targets 20-25 ounces of gold per week from the Ida Valley, but has budgeted this year for a total 100-110 ounces per week from the three sites.

At yesterday's spot gold price, 25oz was worth $US41,500 and 110oz worth $US182,600 (respectively $NZ50,550 and $NZ222,400).

In 2010, gold from the Ida Valley generated $357,000 revenue for Glass Earth. In 2011, the joint-venture gold production contributed $C752,000 ($NZ943,775) in gross revenue using just one gold recovery unit.

Mr Henderson said the two units being commissioned would be in the second and third quarters respectively this year.

On the question of funding streams for operations, he said the buy-out payments totalling $2 million cash were spread over 25 months, at $80,000 per month, which left Glass Earth's cash position largely intact.

Mr Henderson hoped with improved cashflow there would be no need to seek any recapitalisation from shareholders this year, instead focusing on "delivering some value to shareholders".

Craigs Investment Partners broker Peter McIntyre said while as a "niche operator", Glass Earth's production costs would be low compared with the overheads of major producers, but it would "at some stage" have to consider going back to the market.

"Glass Earth needs a year of getting a few runs on the board for when they do have to go back to the market," he said.

In the North Island, exploration is focused on large epithermal [hard rock] gold systems in the central North Island Hauraki region, including a joint venture with Newmont near its Waihi mines and its own exploration project, at Muirs Reef.

"That [recent assays from Muirs] has been a real shot in the arm for us," Mr Henderson said.

[stu31] 15/3/2012 19:06

Wellington, New Zealand, Thursday 15th March, 2012


Glass Earth Gold Limited (TSXV-GEL; NZAX-GEL) ("Glass Earth Gold" or "the Company") announces the purchase of its placer gold production joint venture partner, Goldmines New Zealand Limited, as well as the remaining 50% share of the joint venture's mining operator, Dunstan Mining Limited, in regards to the placer mining/exploration project located in Otago, New Zealand.
On 15 March 2012, the Company entered into agreements to acquire full ownership of its placer joint venture and associated mining equipment. The transaction involves purchasing the 50% of shares in Dunstan Mining Limited (mining operator) that the Company did not already own, and 100% of the shares in Goldmines New Zealand Limited (the other 50% joint venture party).
Taking full control of placer mining activities will enable the Company to significantly accelerate and increase production capacity.
In 2011, the placer joint venture (then 50% Glass Earth Gold), contributed CAD$752,000 in gross revenue and CAD$274,000 in net revenue based on only one Gold Recovery Unit ("GRU") operating. The Company plans to commission a further GRU in Q2 and another in Q3.
This together with 100% ownership and increase in throughput should enable the Company to achieve its previously articulated production goals.

Consideration NZ$m CAD$m
Issue of 2,188,184 shares of the Company
Cash 0.5 0.4
Deferred cash (payable NZ$80k/month (CAD$65/month) for 25 months commencing July 1, 2012) 2.0 1.6
Total cash: $4.0 $3.2

[stu31] 14/3/2012 13:48

Wellington, New Zealand, Wednesday 14th March, 2012

Glass Earth Gold Strikes High Grade Interval of 2m at 38.4g/t Gold and 49.2g/t Silver at Muirs Reef Gold Project

Glass Earth Gold Limited (TSXV-GEL; NZAX-GEL) ("Glass Earth Gold") is pleased to announce results from ongoing drilling at its 100% owned Muirs Reef Gold Prospect in New Zealand.
These results (shown in Table 1) are from MSDDH 09, the second of 17 diamond drill holes (~2,500m) planned to identify gold resources in an area known as Massey Reef, defining extensions to the known reef system both along strike north and south, and at depth. The programme commenced in November 2011 and will continue through 2012, and if successful is expected to produce data of sufficient density to model a gold resource to NI 43-101 standard.
Simon Henderson, the Company's CEO and President, commented that "these results are very encouraging news for the project, and we are now moving to double-shifting on our rigs for the next holes."
"Our exploration team is working hard to develop and evaluate the Massey Reef gold system – the results so far show continuity and expand the system, and striking this high grade interval is a very promising sign."
Table 1: Significant recent drilling results at Massey Reef, Muirs Project
Drillhole ID
From(m) To(m) Interval (m) Au g/t Ag g/t MSDDH 09
12 14 2 2.50 1.2
48 50 2 38.4 49.2
85 103 18 0.78 0.9

MSDDH 09 penetrated a highly altered andesitic volcanic unit with significant quartz veining and hydrothermal breccias, indicative of the upper levels of an epithermal gold system. The hole terminated at 191m.
Drilling on the programme's third hole (MSDDH 10), 25m north of MSDDH 09, is ongoing. MSDDH 10 has intersected weathered and altered andesite with quartz veining (often in multiple phases) from 55m to 120m. Assays are pending. To view drillhole locations, please go to
Following re-assaying, the Company also reports in Table 2 a variation to results previously reported for MSDDH 08 (on 27th January 2012).
Glass Earth Gold has a QA/QC programme in place, which includes the insertion of certified blanks and gold standards randomly within every 30 samples tested.
Table 2: Correction to drilling results at Massey Reef, Muirs Project
Drillhole ID
From To Interval m Au g/t Ag g/t MSDDH 08
22 39 17 1.58 1.7
(corrected)
22 39 17 1.71 1.8

The Massey Reef drilling programme follows completion of trenching last year that included significant surface results (reported in July and November 2011 respectively):
MSTR 06 24m of 5.7g/t gold and 1.9g/t silver MSTR 13 10m of 3.1g/t gold and 1.7g/t silver
Muirs Reef Gold Project
The Company's Muirs Reef Gold Prospect lies 65 km southeast of the Martha Mine (Newmont Mining, 10 million ounce gold deposit) 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.
Massey Reef is part of the historical Muirs Reef gold mining area. Recent significant surface trenching results in outcropping and sub-cropping quartz veins are shown in Table 3. Trenching has demonstrated a 650m strike length of the surface mineralization, ample dimension to potentially host a significant gold resource.
The current drilling programme is designed to identify the depth and strike extent of near surface gold mineralization and identify any further mineralization adjacent to known veins.

[stu31] 08/3/2012 21:16

big volume today on this rise but lots of small trades..all the hallmarks of being tipped somewhere..turned out to be here





so straight back down tomorrow then

[hellisreal] 29/2/2012 15:52

High grades indeed

[stu31] 13/2/2012 18:46

very interesting post by elZorro on the sharetrader forum: (which unfortunately I can't post on because it doesn't accept my email address)



Here is another question that had been bugging me - well answered by Simon Henderson in the email last week.

Q. Vicarage (Vicarage Capital, UK) claimed 3g/t from the placer work in Otago, then removed that from the latest file (GEL brief note Dec 2011) . What is the average yield? I would hope this type of data will be revealed to the market with the new Drybread results.

A. On to alluvials, Vicarage's quote of 3g/t is an error. In alluvial production we quote grade in grains per cubic metre, not grams per tonne. (A grain is roughly 1/15 of a gram, and there are about 2.5 tonnes of gravel wash in one cubic metre).

We'd regard a grade of 3 grains/m3 as an acceptable cutoff point for profitable mining (high volume throughput, no crushing, gravity separation and so on all mean that far lower grades than that needed in a hardrock environment can be profitable), but of course can run into far more than this on richer leads - in fact we will have on occasion run into 3"g/t" ground but believe the Vicarage quote is a coincidental mistake.

Given the small size of these deposits and the difficulty and expense required to define an official resource (plus the sensitivity our JV partner has required us to have towards reporting grades in Otago, based on keeping results confidential to each landowner) it makes more sense to have a solid estimate of projected ounces per week production, and then the total net revenue we are achieving - net profit from alluvials measures for us what these deposits are worth in terms of what they add to our company.

We're actually going through a significant (and exciting) overhaul of alluvials, I can't tell you more than that today but we are looking forward to some real progress, and profit, this year. Our placer mining is shaping up as a very useful and unique side to how we operate - it began as a survival tool but is starting to look like a true opportunity for self-funding meaningful hardrock exploration. So when laid alongside our current projects and land package it's very compelling.


This helps explain a lot, we won't be able to know individual area grades, as that is sensitive information to landowners. As the material is scooped up as wash with water added, a cubic metre into the GRU weighs 2.5 tonne, but about 1.7 tonne dry. A minimum payable grade of 3 grains/m3 of wash is about a dry grade of 0.12g/tonne. This is in the region of half the average grade at L&M's Earnscleugh area, perhaps.

This low figure can be put alongside the impressive Ophir test grade (above) of 19.4g/tonne, this is over 160 times better than the payable grade.

[stu31] 02/2/2012 01:15

don't know if you ever sorted out buying Canadian stocks but KTN looks a cracker imo

[hellisreal] 02/2/2012 00:57

Steady she goes

[stu31] 27/1/2012 18:40

Wellington, New Zealand, Friday 27th January, 2012
GLASS EARTH GOLD reports 17m @ 1.58 g/t gold
and 1.65 g/t silver from drilling at Muirs Gold
Project
Glass Earth Gold Limited (TSXV-GEL; NZAX-GEL) ("Glass Earth Gold") is pleased
to announce the first results of drilling at its 100% owned Muirs Reef prospect in New
Zealand. This drilling is the first of 17 diamond holes (~2500m) planned to identify gold
resources in an area known as Massey Reef.
Glass Earth Gold reports results from its Massey Reef drilling programme, defining
extensions to known reef systems both along strike north and south, and at depth.
MSDDH 08 drilled extensive colloform banded, platly quartz (after calcite) over a 17 m
interval, within an envelope of strong hydrothermal alteration and minor quartz veinlets
in andesitic pyroclastics. The hole terminated at 87 m.
Table 1: Significant recent drilling results at Massey Reef, Muirs Project
Drillhole ID FROM TO Interval m
Au g/t Ag g/t
MSDDH 08 5 7 2 @ 2.46 2.2
22 39 17 @ 1.58 1.7
including 26 31 5 @ 3.35 2.5
This drilling programme follows completion of trenching last year that included significant
surface results (reported in November and July 2011 respectively):
• MSTR 13 10m @ 3.1 g/t gold and 1.7 g/t silver
• MSTR 06 24m of 5.7 g/t gold and 1.9 g/t silver
A second hole (MSDDH 09) has now been completed underneath and on section of
MSDDH 08. MSDDH09 intersected quartz veining from 64.6m to 67m and silicic
hydrothermal breccia from 103m to 117m, assays are pending. A third hole (MSDDH
10) is now in progress 25 m along section to the north (see map).
Petrology and mineralogy of samples from surface and drill-core indicate gold deposition
at high levels of an epithermal system, with depth potential of several hundreds of
metres.
The Muirs gold prospect lies 65 km southeast of the Martha Mine (Newmont Mining, 10
million ounces gold deposit) 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 (see map).
Massey Reef is part of the historical Muirs Reef gold mining area. Recent significant
surface trenching results in outcropping and sub-cropping quartz veins are shown in
Table 2. Trenching has demonstrated a 650m strike length of the surface mineralization,
ample dimension to potentially host a significant gold resource.
The current drilling programme is designed to identify the depth and strike extent of
near surface gold mineralization and identify any further mineralization adjacent to
known veins. If successful the programme is expected produce data of sufficient density
to model a gold resource to NI 43-101 standard.
Table 2: Significant recent trenching results at Massey Reef, Muirs Project
Channel No FROM TO Interval m
Au g/t Ag g/t
MSTR01 0 28 28 @ 1.78 2.4
including 15 16 1 @ 8.7 7.4
MSTR02 0 23 23 @ 1.13 0.9
including 11 12 1 @ 7.91 0.3
MSTR03 0 7 7 @ 0.89 0.7
MSTR04 0 18 18 @ 0.36 0.4
MSTR06 0 24 24 @ 5.72 1.9
including 0 1 1 @ 26.1 8.8
including 15 16 1 @ 33.4 9.9
MSTR07 0 14 14 @ 1.81 1.2
including 2 3 1 @ 7.03 3.5
MSTR08 0 18 18 @ 0.43 0.4
MSTR11 0 1 1 @ 1.2 0.7
MSTR11 8 10 2 @ 3.63 1.4
MSTR12 9 13 4 @ 1.49 0.7
MSTR13 16 26 10 @ 3.14 1.7
MSTR14 1 2 1 @ 6.96 2.9
MSTR15 15 16 1 @ 1.36 2.1
MSTR15 20 26 6 @ 1.19 1
MSTR23 0 5 5 @ 1.71 1.4
About Glass Earth Gold
Glass Earth Gold is one of New Zealand's largest gold exploration companies, with its
experienced 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$3.6 M at the end of Q4 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, (Newmont Mining):
In the Hauraki Region – Glass Earth Gold identified and developed significant
ground positions around Newmont Mining's currently active Martha gold
operations at Waihi. The Newmont-Glass Earth Gold Waihi West JV (Newmont
earning in) and Hauraki JV (65/35), including drilling at the WKP West
discovery, is being actively explored and managed by Newmont in concert with
Glass Earth Gold.
And, in the Central Volcanic Region – Glass Earth Gold has defined several
significant epithermal gold targets in this region including the Muirs prospect.
Containing a historical resource of 390,000 oz (non NI 43-101-compliant, at 1.5
g/t Au and cut-off grade of 0.5 g/t Au), further drilling is planned to prove up the
resource.
In the South Island, exploration efforts are focused on the Otago Region for
identification of mesothermal "Macraes-style" gold targets and revenue generation
through placer (alluvial) gold production:
In the Otago Region – The drilling of highly ranked Hindon and Game Hen gold
targets has commenced.

[stu31] 26/1/2012 18:06

yep the only gold stock on the planet not rallying..even an explorer with nothing but a license goes up and this actually has production lol

[stu31] 26/1/2012 02:03

As I understand it there are some environmental issues at WKP that may explain the weakness here..if that is the real reason there is no telling where this will go now but if not this is very cheap imo..good job you didn't buy any now!

[hellisreal] 26/1/2012 01:45

Brighter today & tomorrow should be too.

[hellisreal] 21/12/2011 00:34

That's better,a change in direction for the share price

[stu31] 29/11/2011 18:43

Glass Earth Gold begins drilling Muirs Reef

2011-11-29 07:44 ET - News Release


Mr. Simon Henderson reports

GLASS EARTH GOLD DRILLING FOLLOWING FURTHER TRENCHING SUCCESS AT MUIRS PROJECT

Glass Earth Gold Ltd. has commenced drilling at its 100-per-cent-owned Muirs Reef prospect in New Zealand. The drilling will consist of 17 diamond holes for a total of approximately 2,500 metres designed to identify gold resources in an area known as Massey Reef.

This drilling program follows completion of the trenching program that included additional significant surface trenching results being:


MSTR 16 -- 10 metres at 3.1 grams per tonne (g/t) gold (Au) and 1.7 g/t silver (Ag).

Earlier trenching results yielded 24 metres of 5.7 g/t Au, with results up to 33 g/t Au in the broadest intersection (reported July, 2011).

Massey Reef is part of the historic Muirs Reef gold mining area. Recent significant surface trenching results in outcropping and subcropping quartz veins are shown in the associated table. Trenching has demonstrated a 650-metre strike length of the surface mineralization, ample dimension to potentially host a significant gold resource.

The drilling is designed to identify the depth and strike extent of near-surface gold mineralization and identify any further mineralization adjacent to known veins.

If successful the program is expected produce data of sufficient density to model a gold resource to National Instrument 43-101 standards.


RECENT SIGNIFICANT TRENCHING RESULTS AT MASSEY REEF, MUIRS PROJECT

Channel ID From To Interval (m) Au (ppm) Ag (ppm)

MSTR11 0 1 1 1.20 0.7
MSTR11 8 10 2 3.63 1.4
MSTR12 9 13 4 1.49 0.7
MSTR13 16 26 10 3.14 1.7
MSTR14 1 2 1 6.96 2.9
MSTR15 15 16 1 1.36 2.1
MSTR15 25 26 1 1.36 1.2
MSTR23 0 5 5 1.72 1.4



Samples were collected using an excavator to strip overburden and hand sampled at continuous one-metre intervals along trench walls. All assays were undertaken at the SGS laboratory by 50-gram fire assay in Waihi, New Zealand.

Previously reported trenching results (July, 2011) are shown in the associated table.


PREVIOUSLY REPORTED TRENCHING RESULTS

Channel No. From To Interval (m) Gold (g/t) Silver (g/t)

MSTR 01 0 28 28 1.78 2.4
including 15 16 1 8.70 7.4
MSTR 02 0 23 23 1.13 0.9
including 11 12 1 7.91 0.3
MSTR 03 0 7 7 0.89 0.7
MSTR 04 0 18 18 0.36 0.4
MSTR 06 0 24 24 5.72 1.9
including 0 1 1 26.1 8.8
15 16 1 33.4 9.9
MSTR 07 0 14 14 1.81 1.2
including 2 3 1 7.03 3.5
MSTR 08 0 18 18 0.43 0.4



Surface channel sampling has discovered significant quartz veining, exhibiting multiple phases of gold deposition, across over 650 metres of the prospect's southwest extension. Petrology and mineralogy of samples from surface and drill core indicate gold deposition at high levels of an epithermal system, with depth potential of several hundreds of metres.

The Muirs gold prospect lies 65 kilometres southeast of the Martha mine (Newmont Mining, 10-million-ounce gold deposit) at the southern end of the Hauraki goldfield. Two quartz reefs were mined within this epithermal system until the 1930s, with over 43,000 ounces of gold extracted from shallow surface and underground workings.

[stu31] 25/11/2011 17:34

Wellington, New Zealand, November 25, 2011.
FINANCIAL STATEMENTS and
MANAGEMENT'S DISCUSSION & ANALYSIS
for the Third Quarter Ended September 30, 2011
Glass Earth Gold Limited (TSXV-GEL; NZAX-GEL) ("Glass Earth" or the "Company")
announced today that it has filed its September 30, 2011 third quarter Financial Statements
and associated Management's Discussion and Analysis ("MD&A") report pertaining to that
period with regulatory authorities.
Glass Earth is a gold exploration company and therefore classified as being at the
'development stage', as it currently has modest mining income. With all general and
administration expenses being expensed, Glass Earth records losses each quarter/year
arising from the expensing of these cash operating costs as well as other non-cash expense
items.
The Company had a net loss for the nine months ending September 30, 2011 of $993,000 vs
$1,132,000 for the similar period in 2010. The Company's cash position as at September
30, 2011 was $4,579,000 compared to $1,322,000 for the same date in 2010.
Three
months
Three
months
Nine
months
Nine
months
ended ended ended ended
Sep 30 Sep 30 Sep 30 Sep 30
2011 2010 2011 2010
Revenue 180,000 196,000 607,000 467,000
Cost of revenue (114,000) (97,000) (352,000) (266,000)
Gross Profit 66,000 99,000 255,000 201,000
Administrative and Personnel expenses (403,000) (369,000) (952,000) (786,000)
Write down of mineral properties (327,000) - (327,000) (574,000)
Results from operating activities (664,000) (270,000) (1,024,000) (1,159,000)
Finance income (6,000) 4,000 31,000 27,000
Loss before Income Taxes (670,000) (266,000) (993,000) (1,132,000)
Income taxes - - - -
Net Loss for the period (670,000) (266,000) (993,000) (1,132,000)
Operational Activities
The Company's corporate and exploration activities for the quarter are summarized in the
attached Exploration Overview and Near Term Outlook.
2
Placer cash generation was down as Gold Recovery Unit #1 came off lease and has not yet
been redeployed to another mine site. GRU#2 remains operating at Gunclub and GRU #3 is
currently being commissioned at Drybread (all in central Otago in the South Island of New
Zealand – see attached map). Expansion of alluvial/placer gold mining in the Central Otago
region is a strong focus as mining operations bed down.
About Glass Earth Gold Limited
Glass Earth is one of the largest New Zealand-based gold exploration companies exploring a
land position of approximately 10,000 square kilometres in the North and South Islands.
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 Gold
Mine, (Newmont Mining).
Hauraki Region – Glass Earth occupies a significant ground position around Newmont's
currently active Waihi gold operations; The Newmont-Glass Earth Waihi West JV (Newmont
earning 60%) and Hauraki JV (North and Central Areas - 65/35) are currently being
explored and managed by Newmont. Exploration at the WKP gold prospect is ongoing
following the very encouraging 2010/2011 drilling results on that prospect.
Central Volcanic Region – Glass Earth has defined several significant epithermal gold
targets in this region including the Muirs Reef project (Mamaku district).
In the South Island, exploration efforts are focused on the Otago Region for mesothermal
"Macraes-style" gold targets and alluvial gold.
Otago Region – Field programmes to support drilling targets is underway.
Placer/alluvial mining operations continue into the 2011 year, coupled with an acceleration
of alluvial exploration and resource definition; Glass Earth / Dunstan Mining (placer mining
50/50 partner) anticipate a significant increase in gold output in 2012.
For additional information on the company, please contact:
• Simon Henderson, President and Chief Executive Officer, at [phone] or
[e-mail];
• Jeanny So, Director of Operations, CHF Investor Relations, at [phone]
x225 or [e-mail];
• Visit the Company's website at www.glassearthgold.com.
To receive Company news via email, contact [e-mail] and mention "Glass
Earth news" in the subject line.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) nor New Zealand Exchange Limited has
reviewed this release and neither accepts responsibility for the adequacy or accuracy of this
release.
3
GLASS EARTH GOLD LIMITED
for the three months ended 30 June 2011
QUARTERLY OVERVIEW
• Successful Fundraising – the Company raised a gross $2.9m by private
placement in late Sep/early October together with an additional $0.25m
upon the exercise of warrants and options. The Company's cash position
as at September 30, 2011 was $4,579,000.
• Exploration –WKP gold prospect in Hauraki, New Zealand (Glass Earth
35%) Diamond drilling results from WKP 30, a 720m hole below WKP 29,
have been recently received and will be the subject of a separate press
release.
• Ophir gold prospect in Otago, New Zealand (Glass Earth 50%) –
Additional drilling was undertaken (17 holes for 446m) across 8 shear
zones. Assays are awaited. Plant design and mine design advanced.
• Mining Operations - cash contribution from the Company's placer
mining operation totaled $85,000 for the three months ended September
30, 2011 (September 30, 2010 - $61,000).
• Financial results - The net loss for the three months ended September
30, 2011 was $670,000 ($266,000 3 months 2010) including a non-cash
write off accumulated exploration expenditures of $327,000); nine
months loss was $993,000 (9 months to September 30, 2010 -
$1,132,000).

Near Term Outlook
• WKP South – additional step-out drilling planned.
• Muirs – Further drilling being undertaken.
• Ophir – Plant and mine designs to be finalized.
• Placer production – Mining commencement at Drybread in November
with rebuilt Gold Recovery Unit #3. GRU#1 off lease and being
reconfigured for mining at Drybread in early 2012. GRU#2 continuing
mining at Gunclub. Resource definition on several other prospects is
continuing.

[stu31] 09/11/2011 16:41

Eric Sprott interview

[stu31] 17/10/2011 17:05

Wellington, New Zealand, October 17, 2011.
GLASS EARTH CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT
Glass Earth Gold Limited (TSXV-GEL; NZAX-GEL) ("Glass Earth") today announces that it has closed the second and final tranche of its previously announced non-brokered Private Placement. A total of 602,000 Units have been sold at a price of $0.55 per unit for gross proceeds of C$331,100.
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 second tranche closing of the private placement are subject to a hold period and may not be traded until February 5, 2012.
In total, 5,319,184 Units have been sold for gross proceeds of C$2,925,551. Finders' fees of $190,992 have been paid in cash in connection with the two tranches of the Private Placement. In addition, 347,257 finders' warrants have been issued, each finders' warrant entitling a finder to purchase one Unit at a price of $0.80 per Unit for a period of 24 months. Each Unit issuable pursuant to the finders' warrants shall have the same terms and conditions as the Units issued to investors.
The proceeds of this financing will be used for drilling, mineral exploration and general working capital purposes.
In addition, 338,000 stock options and 306,200 warrants have been exercised for proceeds of C$183,130.

[stu31] 05/10/2011 23:44

Interesting note out from Vicarage Capital



2 things of note:
production target of 15k/yr in due course (presumably including Ophir when it happens)
Newmont is understood to have calculated a (non-compliant) internal resource estimate of 1.8Moz Au on this property. (re WKP)

this is well above my own calculation of 1.2m oz at present

[stu31] 05/10/2011 22:57

just got an email back from gel's canadian broker re the $3m cost of drilling 6 more holes..and it's not a typo (unfortunately)..and for the reasons I suspected


The $3M budget spent on sound VTEM geophysical and ground geophysics as well as drilling. The WKP project is in the midst of the bush and it is helicopter supported, whereby all the drill site is sent by helicopter. They have been drilling about 600m length holes on an angle (about 400 m depth), hence the higher cost of drilling.
We drilled 7 holes, and we are still awaiting for one more result to come back from the lab.



of course gel's share of this is only one third or $1m