Glass Earth's Greenfields Gold Discovery Strategy Using Multi-Faceted Airborne Geophysical Surveying is Poised to Rewrite the Geology Of Central Otago

The Otago Goldfield has produced approximately 8 million ounces of alluvial gold and over 2.5 million ounces of hard rock gold and is currently home to New ZealandÆs largest producing gold mine. In the eyes of explorers this production history makes the goldfield a good place to explore.   Modern exploration in the Otago Goldfield commenced in the late 1970s with the exploration for tungsten. However, a rapid rise of the gold price in the early 1980s saw the focus shift to the exploration for gold which lead to the discovery of the Macraes Gold Project in 1984, which since it came into production in 1990 has been New ZealandÆs largest producing gold mine. With the exception of the Macraes Gold Project, exploration continued in the Otago Goldfield for a further 20 years without further success.   In 2006, Glass Earth (NZ) Limited (Glass Earth) reviewed all the exploration technologies applied to the Otago region and available geological data, including the 1996 OceanaGold Helicopter Electro-Magnetic (HEM) data, and concluded that combined magnetics and HEM were able to delineate the Hyde Macraes Shear Zone (HMSZ) which hosts the Macraes Gold Project. Unlike previous explorers who explored the Otago region in a piecemeal manner, Glass Earth opted to collect a new, region-wide dataset which could be integrated with all previous collected geological information to come up with new exploration concepts and targets. As part of this process, Glass Earth applied in mid 2006 for New ZealandÆs largest on-shore gold Prospecting Permit, PP39-322 which was subsequently granted in November 2006. In mid January 2007, Glass Earth commenced acquisition of approximately 50 000 line kilometres of HEM data, making the Otago regional aerial geophysical survey (survey) the largest aerial geophysical survey ever undertaken in New Zealand.   This paper will report on the progress of the Otago Regional aerial geophysical survey and outline some of the preliminary findings from what is still a work in progress.