area 1 lower zone drill results

1
29 November 2005
Company Announcements Office
Australian Stock Exchange
Level 4, Exchange Centre
20 Bridge Street
Sydney NSW 2000
Area 1 Lower Zone Drill Results
Recent drilling at the 309 mine has confirmed an extension to the Area 1 gold mineralisation
between 1165 and 1145RL. This lower structure is in a zone that this is below the current
15,000 ounce reserve. The mineralisation is dipping to the north east and is open along strike.
Re-estimation of the Area 1 reserve is in progress and will be completed by mid December.
Mining operations will commence in Area 1, with development ore from the access drives
scheduled in December and production mining to commencing in February. Additional
reserves from Area 1 will provide useful early cash flow while development proceeds to Area 2
where the bulk of the currently known reserves are located.
Recent Drilling Results – Area 1
Hole Id North East EOH
Depth
Intersect
RL
From To Length Au
g/t
Comments
THRC_863 10012 4910 108 1215 41 42 1 48.9
1188 68 68 1 16.7 65-95m
1161 94 100 6 9.2
Including 94 96 2 13.3 1165m to 1145mRL
extension
1157 98 100 2 12.7 1165m to 1145mRL
extension
THRC_864 10009 4920 114 1215 39 40 1 7.3 57-65m
1195 58 65 7 8.7 104-110m
1152 103 105 2 8.9 1165m to 1145mRL
extension
THRC_865 10009 4930 102 1175 79 84 5 12.5 51-88m
1169 86 88 2 45.9 100-107m
1160 96 97 1 7.7 1165m to 1145mRL
extension
THRC_866 10013 4940 104 1257 48 52 4 10.9 50-65m
77 78 1 5.1
1160 96 102 6 21.2
Including 96 99 3 38.6 1165m to 1145mRL
extension
1155 101 102 1 6.8 1165m to 1145mRL
extension
THRC_867 10027 4930 108 1203 52 53 1 20.8 48-65m
1150 106 107 1 10.9 1165 to 1145RL
extension
Previous drill holes in the same lower structure returned:
• THRCD843 6m at 21.9g/t Au
• TRCD618 5m at 25.2g/t Au (includes 1m at 73.3g/t Au)
• TD723 1m at 32.5g/t Au
• THRCD814 2m at 11.35g/t Au
• TRCD684 4m at 6.1g/t Au
This round of drilling entailed 650m of reverse circulation drilling sampled at 1m intervals and
was designed to intercept below the reserve and to firm up the lateral extents of the Area 1
reserve. All holes are vertical and a cut-off grade of 5g/t Au used for the top and bottom of
the mining section and for internal dilution. No top cut has been applied.
The holes in this programme also intercept the outer fringes of the upper section of
Area 1.