Gold explorer on track

Gold exploration company Glass Earth Gold says it is processing an initial bulk sample through a pilot plant designed to recover free gold at the Ophir Prospect in Central Otago. Glass Earth is involved in a 50:50 joint venture at Ophir with company Ophir Gold. After the current test of a bulk sample of about 150cu m, the pilot plant - which has a throughput of five to seven tonnes an hour - would be relocated to the Wai-iti vein system for further bulk testing, Glass Earth said yesterday. After the evaluation phase this month, a decision to go ahead with mining would allow a larger plant to be built with a throughput of about 40 tonnes an hour, along with completion of regulatory consents and mining. The potential to replicate the mining on other pods of near-surface ore would be evaluated later. Glass Earth said it was required to solely fund the evaluation phase study, as well as the design, resource permitting and installation of suitable processing plant on the chosen mining site. It had also spent 60 per cent of the requisite $250,000 of other exploration initiatives in the joint venture area. Shares were unchanged at 8.5c.