Tuesday, 2 August 2005Ref: 606/068Company Announcements...

Tuesday, 2 August 2005
Ref: 606/068
Company Announcements Office
Australian Stock Exchange Limited
Level 4 Exchange Centre
20 Bridge Street
Sydney NSW 2000
KUNDANA-STYLE HIGH GRADE GOLD VEIN DISCOVERED
The Directors of Halcyon Group Ltd (ASX:HCY) are very pleased to announce that the Company
has recently discovered a new laminated quartz structure, averaging in excess of 15 g/t Gold
over 5 metres. The discovery, owned 100% by Halcyon, was made whilst drilling for nickel.
Ajax Discovery
The new discovery has been named Ajax and is similar in style to other high grade quartz lodes that
have been mined successfully north of Kalgoorlie in recent times. These include the Raleigh and
Strzelecki Lodes at Kundana (~5 Million ounces) and the Quarters Deposit at Mount Pleasant (~3
Million Ounces).
The Ajax prospect sits on a trend that reflects the extension of the regional Black Flag Structural
Corridor, a major factor contributing to mineralisation at both the Kundana and Mount Pleasant
deposits. This trend has been inadequately tested within the Bardoc Project, with previous explorers
focussed on delineating broad, lower grade resources close to surface.
Halcyon believes there is at least 3,800 metres of untested strike of this potentially mineralised
trend, which already contains other high grade intersections similar in grade and style to the
Company’s recent discovery. In addition, high grade historical mine dumps, RAB drill chips up to
90g/t and soil anomalies already support this trend.
Second Gold Discovery
A second mineralised zone similar in orientation has been discovered to the north of Ajax, at a
prospect called Marmont, where recent drilling returned a 4 metre intersection averaging 9.9 g/t
Gold. The intersection appears more typically shear hosted in style, with mineralisation associated
with minor quartz veining. The prospect extends over a strike length of 2,500 metres that has
been inadequately drill tested and is supported by soil anomalies and high grade historical mine
workings.
Impact on the Bardoc Project
The significance of the two discoveries to the Bardoc Project needs to be fully determined. The highgrade
nature is extremely encouraging. There are several features similar in orientation and easily
recognisable on the geophysical images, presenting the Company with several opportunities for
further discoveries.
The Company is currently evaluating a number of options concerning the future exploration of this
new gold discovery.
Kind regards
HALCYON GROUP LIMITED

I hope it pays off for ya Pints!!!!

Cheers.