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Glass Earth has begun a $4 million, four-month long, almost 18,000sq km airborne geophysical survey of Otago, the largest prospecting permit given by Crown Minerals.
"Otago will get more than $4 million worth of value out of this project. It's the most significant project on Otago geology ever done," Glass Earth project geologist Sean Doyle said of the data, which will yield information on minerals, water and other geophysical features.
Last month Glass Earth, one of the country's largest gold explorers, was granted the one-year Otago prospecting permit.
The survey, by specialist contractor Fugro BTW, will use the helicopter-borne Resolve system with a magnetic gradiometer to target the top 100m of the earth's crust for minerals, the area of most interest for Glass Earth.
The data from the survey, measuring the earth's electrical conductivity and magnetic field in the atmosphere, will be collated with historical findings to form a new 3D data base.
Doyle said the survey hopes to identify areas around Otago, targeting Macraes-type gold deposits, for further ground exploration in the future.
Toronto-listed Glass Earth also listed on the New Zealand Alternative Exchange (NZAX) in mid-October and raised $10 million from the fully-subscribed offer. The capital would fund the company's exploration and drilling programmes during the next two years with the regional council contributing about $1 million of the Otago survey's $4 million cost.
Doyle said an approach had been made to the Ministry of Economic Development for financial assistance. Tuesday was the project's first full day in flight. The Heliworks Squirrel helicopter, with the 150kg Resolve unit slung 30 metres below it, began its low-level passes about 60m above ground.
In about a month a second helicopter and second Resolve unit may be in use with both choppers potentially working up to 10-hours a day, but clear weather and wind velocity will determine the work and safety programmes, Doyle said.
The regional council has said its contribution to the project - $1 million over two years - was prompted by recognition of the economic value of minerals to Otago's economy and the survey would help it identify precious metals, water and lignites, and also identify land-use areas.
- OTAGO DAILY TIMES
