Last week I was told to 'keep an eye' on ORC. I bought ORCO for...

Last week I was told to 'keep an eye' on ORC. I bought ORCO for a leverage play. Really there is only 'blue sky' in this play & please check your charts for 'signs' of action. There has been a couple of nibbles since I bought. I post a couple ann for your reading pleasure. ORC are into a Gold play outside Lhasa in Tibet & when I was in Tibet a couple of years ago the locals walk along the dry river deltas (in the no snow seasons) & with a special tool scoop up the sandy gravel & dry blow the contents for specs of Gold.

This is in China. Ask yourself is it worth a punt with a cash backing of over 5c a share & trading around 7.5c.

21 October 2004
Australian Stock Exchange
Company Announcements Office
By Electronic Lodgment
No of Pages: 2
High Grade Gold Revealed at Nagarze Project
Australian investment group, Orchid Capital Limited (ORC), is pleased to announce that
exploration test work at the Nagarze Gold Project, located 120kms southwest of Lhasa in Tibet,
has revealed values of 3 - 5 grams per tonne (g/t) of gold during initial sampling of Prospect Area
1, with a high grade of 21.9 g/t gold being revealed in Prospect Area 2.
Exploration is currently focussed on a range of targets identified at the Nagarze Project, where 3,000
tonnes of rock scree and shallow soil cover has so far been removed in a series of shallow trenches and
pits, mostly concentrated in a large central porphyry intrusive complex, situated in Prospect Area 1.
In June 2004, Orchid signed a Cooperative Joint Venture agreement with the China Tibet Institute of
Geology Survey (CTIGS) to explore for gold in a 2000 km2 region of Western China. Through subsidiary
Orchid Resources, Orchid is hoping to capitalise on recent revisions to foreign investment policies in this
under-explored region.
Orchid Resources Exploration Director, Dr David Tyrwhitt, said: “In Prospect Area 1, it appears the
higher-grade values are concentrated in the contact area of the main porphyry intrusion with more weakly
altered argillite sediments, which form the bulk of the host rocks in the intrusive complex.”
“Extensive quartz-pyrite vein stock works are developed in this contact zone, which also carry anomalous
gold values. An adit is being cut about 100m vertically below this summit ridge and is now driving into
mineralised porphyry. The adit portal is established with 200m of adit expected to be completed by the
end of November 2004,” he said.
“In Prospect Area 2, located only one kilometre from the areas main highway, a high grade sample of
21.9 g/t gold has been recovered in the contact zone between argillite sediments and a mineralized dyke
of porphyry. However, glacial overburden up to 5m deep in places makes the width and extent of this
contact mineralization uncertain.”
Orchid’s exploration program will continue into 2005 with a series of angle diamond drill holes planned for
a range of targets at Nagarze. No assay results from the adit sampling are yet available, however these
will be released as soon as possible.
The above results have been reviewed by Dr David Tyrwhitt, consulting geologist to the company, who is
a corporate member of the AusIMM with more than 40 years experience in the mining and exploration
industry. The exploration work being conducted under a co-operative joint venture with the CTIGS
geologists and engineers is under the direction of Dr. Tyrwhitt
Level 3, 14 Ventnor Avenue
West Perth
Western Australia 6005
Tel: +61 8 9321 3664
Fax: +61 8 9322 6887
[email protected]
www.orchidcapital.net
About Orchid Capital Limited
Orchid Capital is an Australian investment company listed on the Australian and German Stock Exchanges.
The company is currently invested across a broad range of sectors, has approximately AUD$7 million in liquid
assets and is well placed to pursue high growth opportunities.
About Orchid Resources Limited
Orchid Resources Limited (ORL) is a 100%-owned subsidiary of Orchid Capital. ORL’s focus is on the
exploration and development of resource opportunities in the People’s Republic of China (PRC). Recent
revisions to China’s foreign mining investment policies have increased the attractiveness of this region to
overseas investors.
MR ALVIN TAN
Joint Managing Director, Orchid Capital
+61 (08) 9321 3664
0413 777188
Media Enquiries:
SARAH ALLCHURCH
Allchurch Communications
+61 (08) 9381 6625
0412 346 412
Six targets have been identified at the Nagarze Gold Project in Tibet.

Level 3, 14 Ventnor Avenue
West Perth Western Australia 6005
Tel: +61 8 9321 3664
Fax: +61 8 9322 6887
[email protected]
12 November 2004
Australian Stock Exchange
Company Announcements Office
Exchange Centre
Level 4 20 Bridge Street
Sydney NSW 2000
No. of Pages: 1
Dear Sir
NET TANGIBLE ASSET BACKING
We advise that the net tangible asset backing for the Company’s shares on issue
at 31 October 2004 was as follows:
Net Tangible Asset Backing: 5.86 cents per share
Yours faithfully,
Norman Grafton
Finance Director