shares likely to be issued?, page-16

re: orc's value: the ore, plus more tibetan projec Hi,

take a look, source: http://www.orchidcapital.net

3 March 2005
The Manager
Australian Stock Exchange
Company Announcements Office
Exchange Centre
Level 4 20 Bridge Street
Sydney NSW 2000
By Electronic Lodgement
Dear Sir
Ausenco to Conduct Technical Audit at Qu Long and Jia Ma
Orchid Capital is pleased to announce that its wholly owned subsidiary Orchid Resources Limited has
appointed independent Australian mining consulting group Ausenco Limited to conduct a full technical
evaluation of the Qu Long and Jia Ma Copper Projects in the Tibet Autonomous Region.
Ausenco will conduct a technical audit to determine the resource and economic value of the two
projects and define the terms of subsequent phases for development of the resources and associated
infrastructure. The audit is expected to be completed by the end of April 2005.
The evaluation will comprise a due diligence review of the geological, mining, environmental, process
and operational aspects of the Qu Long and Jia Ma copper assets, which are located about 60
kilometres east of Tibet’s capital, Lhasa.
Orchid recently signed a Letter of Intent with the China Tibet Institute of Geology Survey (CTIGS) to
acquire up to 80% of the Qu Long and Jia Ma Copper Projects.
Qu Long hosts a large porphyry copper deposit containing 5 million tonnes of copper metal, 350,000
tonnes of molybdenum and 3,200 tonnes of silver.
The Jia Ma copper skarn deposit is estimated to contain an Inferred Resource of 500,000 tonnes of
copper, 550,000 tonnes of lead, 120,000 tonnes of molybdenum, 60,000 tonnes of zinc, 770 tonnes of
silver and 14 tonnes (450,000 ounces) of gold.
2
Ausenco has completed a range of global mining project and study developments, including the US$1.3
billion Oyu Tolgoi (Turquoise Hill) Copper Project in Mongolia and the US$70 million Jinfeng Gold BIOX
project in China.
Orchid Capital Joint Managing Director Alvin Tan said: “Orchid is pleased to appoint Ausenco to carry
out the technical evaluation on these major copper projects. Ausenco has proven experience in the
appraisal and development of large copper deposits in the Asia region, such as Ivanhoe Mines’ giant
Oyu Tolgoi Copper Project in Mongolia and Oxiana’s Sepon copper/gold project in Laos,” he said.
For further information on Ausenco please visit their website at: www.ausenco.com
Information in this announcement that relates to mineral resources is based on data compiled by Dr David
Tyrwhitt PhD (Geology), BSc (Hons), FAusIMM, FSEG (USA), CPGeo, who is Fellow of The Australasian
Institute of Mining and Metallurgy and has over 40 years’ experience in the mining and exploration industry.
Dr Tyrwhitt is employed by Orchid Resources Limited.
Dr Tyrwhitt has sufficient experience that is relevant to the style of mineralization and type of deposit under
consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the
2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Dr Tyrwhitt consents to the inclusion in the announcement of the matters based on his information
in the form and context in which it appears.
About Orchid Capital Limited
Orchid Capital is an Australian investment company listed on the Australian and German Stock Exchanges
and is currently invested across a broad range of sectors.
About Orchid Resources Limited
Orchid Resources Limited (ORL) is a wholly owned subsidiary of Orchid Capital. ORL’s focus is on the
exploration and development of resource opportunities in the People’s Republic of China (PRC).
ALVIN TAN DAVID TYRWHITT
Joint Managing Director Exploration Director
Orchid Capital Orchid Resources
+618 9321 3664 +618 9321 3664
MEDIA ENQUIRIES:
SARAH ALLCHURCH
Allchurch Communications
+618 9381 6625
0412 346 412