good announcement

They announced a good report again but no movement on the stock price, any one with a reason for it?.

RENISON CONSOLIDATED MINES NL
ACN 003 049 714
Mail Address
GPO Box 5268
Brisbane Qld 4001
Level 5, Santos House
60 Edward Street
Brisbane Qld 4000
Phone: (07) 3303 0630
Fax: (07) 3303 0601
Email: [email protected]
_________________________________________________________________________________________
1
ASX ANNOUNCEMENT
17 June 2004
FURTHER DRILLING SUCCESS AT TOM’S GULLY & AGATE CREEK
STEVE’S HILL DRILLING PROGRAM TO COMMENCE
The Directors of Renison Consolidated Mines NL are pleased to advise on:
• significant gold intercepts from a further ten drill holes of the drilling program currently
being undertaken at the Company’s Tom’s Gully project in the Northern Territory;
• results from the next six drill holes (726m) from the two stage 50 drill hole (5,000
metre) drilling program currently being undertaken at the Sherwood prospect within the
Company’s Agate Creek epithermal gold project in North Queensland; and
• progress on the exploration program at the Steve’s Hill gold project in the Northern
Territory with an expanded drilling program to commence next week.
Tom’s Gully Gold Mine
Assay results have been received for a further ten drill holes. Three of these holes were part
of the ‘step out’ resource delineation program with the remaining seven being part of the
reserve definition program. All ten holes intersected gold mineralisation in the Tom’s Gully
reef.
Drill hole TGD409 was part of the reserve definition program and was on the southern edge of
the south-eastern proposed mining block and intercepted 2.0m at 11.5g/t gold from 246.1m.
The result is particularly encouraging as it appears to be the continuation of the thicker zone
of mineralisation previously intersected 160m to the north-east in drillholes TGD379 (4m at
9.7g/t) and TGD 404 (3.1m at 7.5g/t).
Drill holes TGD411, 412, and 371 were part of the ‘step out’ resource delineation component
of the drilling program and each encountered a high grade intercept of the Tom’s Gully reef in
areas where there had been no previous drilling. TGD411 intercepted 1.6m at 7.8g/t gold
from 265.2m, TGD412 intercepted 1.8m at 7.5g/t gold from 250.4m and TGD371 intercepted
1.5m at 8.4g/t gold from 248.9m.
These drill holes together with earlier ‘step out’ holes in the current program demonstrate the
continuity of the mineralized reef down dip for over 1km (some 600m south (down dip) of the
main current resource area). The mineralisation is of a similar style and setting to that
encountered in the current resource area. The results of the ‘step out’ resource delineation
program to date have confirmed the potential for a significant increase and upgrade of the
current resource estimate at Tom’s Gully of 900,000 tonnes at 7 g/t gold (200,000 contained
ounces) from this program. An interim revised resource estimate based on the results of the
drilling program to date is expected to be completed within 3 weeks.
RENISON CONSOLIDATED MINES NL
ACN 003 049 714
______________________________________________________________________________________________
_________________________________________________________________________________________
2
The remaining results (TGD361, 367, 370, 376, 378 and 414) are from the reserve definition
program which is designed to outline the mining blocks for the first 3 years of the proposed
mine development and were targeted to define the margins of the preliminary design mining
blocks.
The results to date are consistent with the Company’s expectations for this program.

Cheers all