NEWS RELEASE
TSX-V: GEL
NZAX: GEL
Level 2, 93 The Terrace
Wellington, New Zealand
+64 4 903 4980
www.glassearthgold.com
Wellington, New Zealand, Monday, 23 April 2012
Glass Earth Gold Makes New Gold Discovery at
Garibaldi; Central Otago, New Zealand
Glass Earth Gold Limited (“Glass Earth Gold” or “the Company”; TSX.V: GEL) today
announced that it has made a new gold discovery at its Garibaldi project in Central Otago. The
new discovery is characterised by a network of quartz veins from which systematic soil and
bedrock trench samples have returned grades ranging up to 16.1 g/t Au. The zone of interest is
900m in strike length and 300m wide. It has coincident elevated tungsten and arsenic
mineralisation.
Simon Henderson, President and CEO of Glass Earth Gold, commented that “This is an
important development in early stage prospect delineation where the potential for
significant widths of mineralised quartz and host mafic schist offer potential for a
significant size mesothermal gold discovery... This new discovery is a turning point in
GEL’s hard rock gold exploration in Central Otago and attests to the science driven
exploration program focused on discovery of gold deposits similar to OceanaGold’s
7.2 million ounce Macraes gold deposit in the metaphorphic terrain of Central Otago”.
Exploration following GEL’s major airborne geophysics survey in 2007 highlighted mafic
protoliths as important hosts to gold mineralisation; regional geochemical surveys followed by
detailed soil sampling recorded anomalous gold in soil over an area 5 km x 2 km with individual
results up to 9,750 ppb Au, with anomalous arsenic and tungsten. Narrow outcropping quartz
veins gave anomalous rock chip values (up to 8.73 g/t gold) which encouraged a significant
trenching program to delineate mineralised quartz veins and host mafic schist over a 900 x
300m area.
Channel/panel sampling from trenching at Anomaly 2 (individual samples of 1mx1m)
demonstrate consistent mineralised E-W orientated quartz veins with individual
grades between 1–16.1 g/t Au and importantly inter-fingered mafic schist with
grades between 0.5 – 2.65 g/t Au. Of 60 samples, 10 samples exceeded 1 g/t, 8
samples ran 0.5 – 1 g/t and 9 samples ran 0.1 – 0.5 g/t Au.
In 2007, Glass Earth Gold completed the largest airborne geophysical survey in New Zealand,
over 13,000km² of mesothermal terrain in the Otago region. The magnetic and electromagnetic data collected, identified shear zones similar to the Hyde-Macraes Shear Zone which
hosts the Macraes gold mine; Glass Earth commenced on-ground exploration, focusing directly
on these potentially gold-bearing regional structures. The Macraes gold mine, New Zealand’s
largest gold producing operation has produced over two million ounces of gold since current
mining operations began in 1990.
Glass Earth Gold Limited – Press Release
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Forward Work Programme
The immediate objective is to finalise additional fieldwork in order to plan and recommend a drill
program.
To view "Figure 1: - Garibaldi project in Central Otago, New Zealand", please visit the
following link:
http://glassearthgold.com/i/newsreleases/2012/Images/GEGLPR_24Apr2012_Map1.jpg
To view "Figure 2: - Garibaldi project in Central Otago, New Zealand", please visit the
following link:
http://glassearthgold.com/i/newsreleases/2012/Images/GEGLPR_24Apr2012_Map2.jpg
About Glass Earth Gold
Glass Earth Gold is one of New Zealand’s largest gold exploration companies with landholdings
proximal to world-class gold deposits and cash flow from its wholly owned placer projects. With
an experienced geological team, the Company is exploring promising gold prospects across a
land position of approximately 10,000 km2, in both the North and South Islands. The Company
held a net cash position of C$2.2 million at the end of Q1 2012 to fund exploration progress.
In the North Island, exploration efforts are focused on large epithermal gold systems in the
Hauraki Region, akin to the 10Moz gold equivalent Martha Hill mine, (Newmont Mining).
In the Hauraki Region, Glass Earth Gold has identified and developed significant ground
positions around the active Martha Hill gold mine operations at Waihi. The Newmont-Glass Earth
Gold Waihi West JV (Newmont earning in) and Hauraki JV (65/35), including drilling at the
WKP discovery, are being actively explored and managed by Newmont in collaboration with
Glass Earth Gold.
Glass Earth Gold has also defined several significant epithermal gold targets to independently
explore in this region, including the Muirs Reef project where drilling is ongoing. 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), as well as recent drilling provided further encouragement with intersections of 2m of
38.4g/t gold and 49.2g/t silver.
In the South Island, exploration efforts are focused on the Otago Region, home to
OceanaGold’s 7Moz Macraes Goldfield, for identification of mesothermal “Macraes-style” gold
targets and revenue generation through placer (alluvial) gold production.
Qualified Person
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 in this
press release.
For more information on Glass Earth Gold, please visit www.glassearthgold.com or
contact:



Simon Henderson, President and Chief Executive Officer, at +64 4 903 4980 or
[email protected];
Jeanny So, Director of Operations, CHF Investor Relations, at +1 416 868 1079 x 225 or
[email protected];
Lauren Clarke, Associate Account Manager, CHF Investor Relations, at + 1 416 868 1070
x 241 or [email protected]
Glass Earth Gold Limited – Press Release
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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.
Glass Earth Gold Limited – Press Release
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