good ann!!!

MORE HIGH GRADE GOLD AT GIDGEE
NEW DRILLING PRODUCES EARLY SIGNIFICANT RESULTS
Legend Mining has received early encouragement from its new aggressive resource
extension and exploration drilling programmes at Gidgee, which will continue for the
next six to nine months.
The first reverse circulation (RC) drill rig arrived on site on 20th November, and eight
deep holes up to 401 metres depth have already been completed at North Swan Bitter.
Diamond drilling with two rigs is also continuing from the Swan Bitter underground
mine to define extensions of the previously mined high grade gold orebodies.
Initial results just received from underground core and surface RC drilling include:
• High grade core intercepts of 56.2g/t gold over 1.5m including 117.0g/t gold
over 0.7m, 21.6g/t gold over 0.4m and 49.1g/t gold over 0.3m
• RC composite four metre sample results including 4m at 24.9g/t gold, 20m at
3.7g/t gold, 28m at 2.7g/t gold and 20m at 2.8g/t gold
• Resplit one metre RC samples from composite intervals have confirmed the high
grade mineralisation with best results of 2m at 34.7g/t gold (including 1m at
65.0g/t gold), 4m at 9.7g/t gold (including 1m at 18.8g/t gold) and 3m at 6.8g/t
gold (including 1m at 12.2g/t gold)
The underground high grade intercepts are from diamond drillhole GUD1182, drilled
northwards from the north end of the mine and targeting repeats of the high grade
Tunisia lode which was the main ore source at Gidgee for 18 months.
Altered, bleached and quartz veined basalt similar in style to that developed marginal
to the Tunisia lode was intersected in a number of zones between 60 and 220 metres
north of the workings. The hole ended in mineralisation, about 140m short of the
previously reported high grade intersection of 4.8m at 8.2g/t gold in hole JDWA243
which is in similar alteration and geology.
The initial deep RC drilling at North Swan Bitter in holes GDC001-006 has also
produced very encouraging results, with broad zones of mineralisation extending at
least 350 metres northward from the mine workings and mainly adjacent to
basalt/dolerite contact zones. These are the geological units which have been the
predominant ore source in the Swan Bitter – Butcherbird system of open pit and
underground orebodies at Gidgee.
Holes GDC008-009 drilled to further test the high grade gold intercepts in JDWA243
and GUD1182 did not to reach target due to drillhole deviation. The possibility of
completing these holes by way of diamond tails is being evaluated. Planned hole
GDC007 was not drilled in this programme and has been deferred until January.
Results to hand are summarised below. One metre 1m resplits from GDC005-10B
and 4m composites from GDC10B are expected soon and will be reported when
available.
Hole East
(local grid)
North
(local grid)
RL Hole
Depth
Assay
Method
From
(m)
Interval Gold
Grade
(uncut)
Swan Bitter North
GUD1182 20078 50024 195 292m LW(a) 114.0 0.4m 21.6g/t
LW(a) 121.7 0.9m 15.2g/t
LW(a) 157.3 0.3m 49.1g/t
LW(a) 168.5 0.8m 11.3g/t
LW(a) 192.9 0.9m 14.5g/t
LW(a) 290.5 1.5m 56.2g/t
LW(a) incl 0.7m 117.0g/t
GDC001 20225 50380 523 311m FA50 266 2.0m 6.7g/t
GDC002 20276 50193 482 52m Hole abandoned in fill, no assays
GDC003 20352 50153 521 334m LW(b) 104 28m 2.7g/t
incl FA50 104 1m 5.7g/t
incl FA50 106 1m 6.0g/t
incl FA50 117 1m 12.2g/t
incl FA50 119 1m 6.6g/t
GDC004 20349 50194 521 FA50 126 1m 6.2g/t
FA50 201 1m 5.6g/t
GDC005 20280 50245 485 LW(b) 20 4m 24.9g/t
incl FA50 20 2m 34.7g/t
incl FA50 20 1m 65.0g/t
LW(b) 80 20m 2.8g/t
incl FA50 82 4m 9.7g/t
incl FA50 82 1m 18.8g/t
incl FA50 84 1m 10.1g/t
FA50 99 1m 14.2g/t
GDC006 20250 50290 493 LW(b) 64 20m 3.7g/t
Notes: Dips/azimuth at collars are: GDC001, 006 -90/000; GDC002, 003 -60/270; GDC004 -55/270; GDC005 -75/270
GUD1182 -22/000
No estimate of true width is possible as these are widely spaced holes in an area not previously drilled.
Assay method LW(a), half core by 200g Leachwell/AAS, Gidgee minesite lab
Assay method LW(b), RC chips 4m composite by 200g Leachwell/AAS, Gidgee minesite lab
Assay method FA50, RC chips 1m resplit by 50g fire assay/AAS, Genalysis Laboratory Services
and quartz veining near the base of fill from previous open pit mining. This may be
either in-situ wall material or back fill, and further evaluation of this intercept is being
undertaken.
After the Christmas break, RC drilling will recommence and will test to 300m depth
beneath the Swift line of shallow open pits some 300 metres east of the Swan Bitter –
Butcherbird line. Another line of open pits (Roadrunner, Falcon and North End),
about 200 metres west of the mine, will also be drilled at depth.
Despite these open pits having been well endowed near surface, with approximately
100,000 ounces of gold mined from them, very little exploration has been carried out
to test for primary mineralisation, and they remain untested below 100 metres vertical
depth.
Legend is extremely encouraged by initial results from the new drilling programmes
at North Swan Bitter, and looks forward to further success in the new year. One RC
drill rig will recommence early in January, with a second RC rig contracted to
commence in February. More regional RAB drilling of up to 20,000 metres is also
planned to test other identified targets during the first quarter of 2005, and results will
continue to be reported to the market as they become available.
Legend has recently arranged for a placement through Findlay & Co Sydney and a
Share Purchase Plan, details of which have been previously announced. The funds
will be used to continue the extensive 2005 drilling programme and for working
capital.