the halycon/nickelore announcement of 2 august, 2005 is worth...

the halycon/nickelore announcement of 2 august, 2005 is worth reading as it makes a very important destinction about how the former miners were looking for shallow depth low grade gold mineralisation, & in doing so they missed the deeper high grade quartz structures.

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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 Companys recent discovery. In addition, high grade historical mine dumps, RAB drill chips up to 90g/t and soil anomalies already support this trend.