An epithermal gold-silver deposit is presently being developed at the Golden Cross Mine in the Waitekauri Valley, 8 km northwest of Waihi, New Zealand. Highest grade mineralisation underground is mainly confined to an elongate zone of strongly banded quartz veining on the hangingwall._x000D_
Footwall veining is irregular, flatter lying, and of lower grade. Hydrothermal breccias in the ore zone may have economic grades where clasts of vein quartz are present. Jigsaw breccias, shingle breccias, and layered breccias with sedimentary type structures such as layering, crossbedding, and graded bedding have been identified proximal to, and within, quartz veins. Mineralisation in the open pit occurs in and adjacent to stockwork quartz veining._x000D_
Three alteration zones are recognised: a central silicic zone enclosing Au-Ag bearing quartz veins, an argillic zone above the stockwork zone and in the footwall of the underground ore zone, and a propylitic zone which is gradational with argillic zone. Intense shearing is confined to the less competent argillic zone._x000D_
Precious metal mineralogy consists of electrum (65% Au; 35% Ag) and argentiferous tetrahedrite, polybasite, pyrargyrite, argentite, and native silver. Pyrite is the dominant sulphide mineral. Marcasite, arsenopyrite, and rare chalcopyrite and sphalerite also occur. Oxidation ranges from a few metres in the argillic western stockwork zone to 100 m in fractured rock in the footwall of the stockwork._x000D_
The open pit contains a proved and probable reserve of 2.1 million tonne grading 3.5 g/t Au and 17 g/t Ag. The underground mine will produce 2.7 million tonne grading 7.8g/t Au and 27g/t Ag.