Drill hole results - Empress

HERALD RESOURCES LIMITED 2002-10-30 ASX-SIGNAL-G HOMEX - Perth +++++++++++++++++++++++++ Results from an underground diamond drill hole ED012 at Empress are now available. The hole was drilled from within the advancing Empress decline and was aimed to intersect 3 of the 4 known Empress Lodes. The hole made the following intercepts at the positions indicated:

PIERCE POINT ED012 DATA N E RL DEPTH DEPTH INTERVAL GRADE LODE FROM TO (m) (m) (m) (g/t Au)
9271.1 5026.1 212.8 237.25 237.67 0.42 1017 Empress
9280.7 5001.6 207.8 262.93 265.41 2.48 10.4 Granodiorite
9284.8 4991.3 205.7 273.86 277.05 3.19 47.8 West

The drill hole was virtually at right angles to the lodes and the intercepts therefore are approximate true widths. The Empress Lode intersection is just outside of the resource zone and therefore extends the limits of the known resource in this area at a bonanza grade in excess of 1,000g or 30ozs of gold per tonne.

Both the Granodiorite and West Lode intercepts were within the presently defined limits of these lodes, however at grades substantially above the average resource grades for those lodes, and are therefore highly encouraging as well.

The hole was collared from 9196.6N, 5247.3E, 256m RL and was drilled at -9deg on an azimuth of 288deg. First ore production from Empress remains on schedule for the end of the year. M P Wright EXECUTIVE DIRECTOR NB: The above results are reported by MPI Mines Ltd, the managers of the joint venture operations at Coolgardie.

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