the golden duck., page-2

Quack !!
A JORC Indicated and Inferred resource of 94,000 tonnes @ 30.9 g/t gold for 93,000 oz of gold defines one of the highest grade and lowest cost open pittable gold deposits in the world.
Beadell’s Managing Director, Peter Bowler commented

“This is an extraordinary oxide open pit resource which is still expanding. We are liaising closely with Anglo Ferrous personnel to facilitate a timely commencement date for this extremely low cost gold resource. The reserve statement will be released shortly and with the inclusion of the significant amount of friable iron ore contained within the proposed open pit, which is compensated on a cost recovery basis by Anglo Ferrous under the Duckhead Agreement, will result in one of the lowest cost gold mining operations globally. Additionally, the new drilling results released today are highly significant and indicate that the Duckhead deposit will continue to grow with ongoing drilling.”

Quack !! ,
RC drilling southeast of the main high grade lode has intersected wide zones of oxide gold mineralisation with results in FVM59 of 33 m @ 2.9 g/t gold from 16 m including 14 m @ 5.0 g/t gold from 17 m and FVM61, 43 m @ 1.7 g/t gold from surface including 7 m @ 3.1 g/t gold from 21 m. Further RC drilling is underway to define the extent of this new lode. A recent iron ore drill hole located 80 m to the southeast of these results has a previously recorded a result of 6 m @ 3.6 g/t from 9 m and possibly represents the south east continuation of this mineralisation.

These results are highly significant and indicate that the Duckhead deposit will continue to grow with ongoing drilling.
GL LT holders.