Wednesday, 16 November 2005Ref: 606/079Company Announcements...

Wednesday, 16 November 2005
Ref: 606/079
Company Announcements Office
Australian Stock Exchange Limited
Level 4 Exchange Centre
20 Bridge Street
Sydney NSW 2000
DRILLING CONFIRMS MINERALISED GOLD STRUCTURES – MORE DRILLING UNDERWAY
The Directors of Halcyon Group Ltd (ASX:HCY) are encouraged by the results of the recently completed
Reverse Circulation (“RC”) drilling program that intersected the same structure up-dip but along strike to the
north of the laminated quartz vein at Ajax that previously returned 5 metres @ 15.7 g/t Gold with a best return
of 1m @ 3.4g/t from 80 metres. Similarly at Marmont the same shear zone was intersected up-dip but along
strike to the north of the previous intersection of 4 metres @ 9.9 g/t Gold with a best result of 1m @ 6.9g/t from
26 metres.
Ajax Drill Program
The RC drilling to test the dip and strike extensions of the 3 intersections (Tank Hill-4m @ 11.4g/t from 12.5
metres, Ajax-5m @ 15.70g/t from 286 metres and Castlereagh-5m @ 15.72g/t from 130 metres) that define the
mineralised trend have intersected some encouraging values in two of the three areas as shown in the table
below. One RC hole (HBSC007) was designed to intersect the down-dip projection of the Ajax intersection
but drilling conditions meant that it needed to be completed by Diamond Core drilling with the extension due
to commence at the end of this week (see attached section).
Hole No. Prospect Northing
AMG 84
Easting
AMG 84
Dip Azimuth Depth
From
Interval Gold
Grade
HBSC001 Ajax 6641246m 336224m -50o 080o 270m 1m 3.0g/t
HBSC003 Tank Hill 6641672m 336564m -60o 090o 21m 1m 2.8g/t
HBSC004 Ajax 6641425m 336529m -50o 274o 80m 1m 3.4g/t
HBNC001 Marmont 6646210m 336093m -55o 090o 94m 2m 2.8g/t
HBNC001 171m 1m 2.3g/t
HBNC002 Marmont 6646250m 336070m -60o 090o 26m 1m 6.9g/t
Note: All RC intersections are derived from 1 metre samples that have been riffled split down to 2-3kgs and are analysed
by fire assay.
Marmont Drill Program
The RC drilling to test the dip and strike extensions of the mineralised shear previously intersected with 4m @
9.9g/t from 200 metres returned some values of significance as shown in the table above. The drilling supports
the field work which has identified that the area contains several historic mine workings on adjacent parallel
trends with confirmation from recent grab samples returning values of up to 56g/t.
RAB Drill Program
The Company late last week completed the shorter Rotary Air Blast (“RAB”) drill hole program targeted at
selected areas along the mineralised trends and following-up other similar historic drill intersections at other
prospects on parallel trends. Such prospects include: Lexcen with 2m @ 36.5g/t from 31 metres and Big Blow
North were 2m @ 15.6 g/t from 8 metres was intersected. The Company expects results from the RAB drilling
later this month and will announce them at the earliest available opportunity.
Halcyon’s objective in these Gold Exploration Programs is to define a high grade 200 to 400 metre section of
strike out of the 3,800 metres and 2,500 metres available respectively on either mineralised trend. Similar
style deposits in the region such as Raleigh, Kundana and Quarters have each yielded in the order of 1 Million
ounces of Gold.
Kind regards
HALCYON GROUP LIMITED
Andrew Radonjic
MANAGING DIRECTOR
Information 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.
Information 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.
Andrew Radonjic has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the JORC Code. Andrew Radonjic consents to the inclusion in the announcement of the matters based on his information in the form and context in which it
appears.
Untested Arsenic
Soil Anomaly
Castlereagh
5m @ 15.72g/t Au from 130m
Historic Mine
Dump Samples
up to 13.5g/t Au
~1650m Strike Potential
"Poorly" Tested
5m @ 15.70g/t Au from 286m
4m @ 11.4g/t Au from 12.5m
~1750m Strike Potential
"Poorly" Tested
Untested Gold
Soil Anomaly
0
SCALE GDA Zone 51
500m
Simplified Geology, Tenements and New Gold Targets
BARDOC GOLD PROJECT
Excelsior
Mined 100,000ozs
To Menzies
To Kalgoorlie
Zoroastrian
Mined 15,000ozs
Ajax RC Chips
Castlereagh Drill Core
Ajax Prospect
Tank Hill - HBSC003
1m @ 2.80g/t Au from 21m
Ajax - HBSC004
Ajax - HBSC001
1m @ 3.40g/t Au from 80m
1m @ 3.0g/t Au from 270m
Tank Hill - Historic RAB Hole
Railway
Kalgoorlie - Menzies
Greenstone
Granitoids
Sediments
Fault / Shear
LEGEND
Halcyon Tenure
HNICD035
HBSC001
-50m RL
-100m RL
-200m RL
-250m RL
-150m RL
0
METRES
25 50
HNIC022
348m EOH
342m EOH
HBSC007
BARDOC PROJECT - Cross Section 6 641 270mN
Ultramafic
1m @ 3.0g/t Au
330m EOH
Proposed Diamond Core Extension
?
Basalt
-300m RL
-350m RL
Felsic
Porphyry
?
Powerline Corridor Railway Reserve Gas Pipeline
Basalt
263.8m EOH
5m @ 15.7g/t Au
(Projected)