copper

Thursday, 20 April 2006
Ref: 606097
Company Announcements Office
Australian Stock Exchange Limited
Level 4 Exchange Centre
20 Bridge Street
Sydney NSW 2000
DRILLING TO COMMENCE AT HIGH GRADE COPPER PROJECT
The Directors of Halcyon Group Ltd (ASX: HCY) are pleased to announce that the Company will commence
drilling next week at its newly acquired High Grade Copper Project located at Mount Pleasant. The initial 12
hole drill program is designed to confirm the mineralisation before proceeding to a systematic drill out to
bring the deposit to JORC standard. Confirming the size and grade of the deposit would confirm potential to
quickly develop a mining operation producing a high grade copper-silver-gold concentrate at the current
record high prices.
MOUNT PLEASANT COPPER PROJECT HIGHLIGHTS:
• 1997 Non-JORC resource of 134,200 tonnes @ 4.32% Cu (~5,800 tonnes of
Copper Metal) based on 49 percussion drill holes and 17 diamond drill holes for
4,600 metres of drilling.
• Record Copper Prices around US$6,600/t or ~A$8,900/t (up 16% since
acquisition).
• In-situ ground value of ~A$56 Million with Gold & Silver credits.
• Deposit is close to surface (<90 metres deep) and therefore amenable to open pit
mining.
• Well located near infrastructure, 32 kilometres northwest of Kalgoorlie.
• Gold equivalent value is approx 15.5g/t (using commodity prices as of April 19, 2006).
• Better drill intersections include:
• 9.1m @ 19.69% Cu & 233g/t Silver which equates to 9.1m @ 70.5g/t Gold
from 59.4 metres,
• 4.6m @ 7.73% Cu & 75g/t Silver which equates to 4.6m @ 27.3g/t Gold
from 51.8 metres and
• 2.4m @ 10.88% Cu & 13g/t Silver which equates to 2.4m @ 36.3g/t Gold
from 85.0 metres.
For further details on the Mount Pleasant Copper Project please refer to the previous announcement released
on April 6 2006.
Kind regards
HALCYON GROUP LIMITED
Andrew Radonjic
MANAGING DIRECTOR
I
nformation in this report pertaining to exploration results was compiled by Mr A Radonjic who is a Member of the Aus.I.M.M. with not less than 5 years
experience in the relevant fields, and who consents to the report appearing in the form and context in which it appears.
I
nformation in this announcement pertaining to exploration results was compiled by Andrew Radonjic, the managing director of Halcyon, who is a Member of The
Australasian Institute of Mining and Metallurgy.
Greenstone
Granitoids
Sediments
Fault / Shear
LEGEND
PERTH
Kalgoorlie
Western
Australia
Proterozoic Dyke
KALGOORLIE
Mount Pleasant
Copper Project
Aphrodite
~900,000oz Au
Broad Arrow
~600,000oz Au
Paddington Group
> 4Moz Au
Kanowna
~5Mozs Au
Golden Mile
~54Mozs Au
Kundana
~5Mozs Au
Mt Pleasant
~3Mozs Au
0 10
KILOMETRES
Project Regional Setting
Nickel Deposit
(with Nickel endowment)
Gold Deposit
(with Gold endowment)
Scotia
~35,000t Ni Metal
Bardoc
Gold/Nickel
Project
HALCYON GROUP L IMITED
0
Scale GDA Zone 51
Laterite
Acid Prophyry
Interpreted Fault
Zone of Shearing
Pit / Shaft / Mine
Tenement Boundary
121° 16' 00"E 121° 16' 30"E
30°30'30"S
30°30'00"S
250m
BLACK FLAG
FAULT
Golden
Buckle
P24/3379
P24/3380
BLACK FLAG FAULT SPLAY
BLACK FLAG FAULT SPLAY
BLACK FLAG FAULT SPLAY
MOUNT PLEASANT COPPER PROJECT
Simplified Geology, Tenements and Targets
6 624 000mN
6 625 000mN
334 000mE
New Mt. Pleasant
Copper Mine
Mineralised Body
(Copper - Gold - Silver)
3.7m @ 5.33% Cu, 108g/t Ag
3m @ 2.26% Cu, 1g/t Ag, 3.66g/t Au
2.4m @ 10.88% Cu, 13g/t Ag
9.1m @ 19.69% Cu, 233g/t Ag
4.6m @ 7.73% Cu, 75g/t Ag
2.0m @ 6.55g/t Au
1.0m @ 15.2g/t Au
GEOCAD (WA) Pty Ltd Path..halcyon\tulloch\mp_geol.dgn Apr 06
NOTE: Selected drillhole intercept shown,
projected to surface
(Cu - copper; Ag - silver; Au - gold)
Old Mt. Pleasant Copper Mine
(Mined 84.3t @ 7.6% Cu)
Gabbro
Altered Gabbro
LEGEND
Section 6 624 490mN
Basalt
Sediments, mafic and
intermediate volcanics
HALCYON GROUP L IMITED
MOUNT PLEASANT COPPER PROJECT
Copper Cross Section 6 624 490mN
Gabbro
Black Shale
Basic Volcanics
-50mRL
-100mRL
Surface
-75mRL
0 25m
Scale
MPP123 MPD015
MPP
19A
MPP
19B
MPD
016
MPP
19C
Quartz Porphyry
Intermediate
Volcanics
3.0m @ 3.3% Cu
101.6m
70.1m
83.8m 82.6m
89.9m
103.9m
7.6m @ 4.70% Cu, 79g/t Ag
3.7m @ 5.33% Cu, 108g/t Ag
6.1m @ 1.84% Cu, 37g/t Ag
1.8m @ 1.0% Cu, 27g/t Ag
334 200mE 334 250mE 334 300mE