write up....

FOR the second time in a week Wedgetail Exploration has hailed a new gold discovery at its Golden Gate project in Western Australia, giving the company a 100% record in its current program of drilling targeting geochemical soil anomalies generated in the September quarter.

The company's project development manager Peter Woodman told xxxxxxx that while the company was still in the early stages of drill testing in-excess of 4km of geochemical soil anomalies at Golden Gate, the company's record was two from two.

The intercepts of 12 metres at 5.09 grams per tonne gold from 8m and 8m at 1.29gpt from 8m achieved 140m northwest of the A reef at Golden Gate followed on from the Billjim North results revealed last week. They have prompted the company to claim the area "has the potential to develop into a major new discovery of industry-wide significance".

Woodman said only about 5% of the company's 640 sq.km landholding in the Nullagine project – which comprises Golden Gate, Golden Eagle, Bartons and All Nations – had been subjected to soil geochemistry test work.

He said the company would continue to conduct RAB drilling on the geochemical anomalies until mid-December.

Meanwhile RC drilling of the B and C reefs at Golden Gate has extended the strike length of the reefs by 20-40m.

Wedgetail said the drilling confirmed mineralisation at the C reef extends from surface to 40m depth, and is open along strike and to the southeast. Mineralisation at the B reef remains open laterally.

A resource estimate expected before the end of the year is being prepared by Hellman and Schofield. It will form part of the Nullagine project feasibility study due for release in the first quarter of 2006.

The company has just secured a native title agreement covering the entire Nullagine project area which will allow a mining lease to be granted.

The agreement with the Palyku and Njamal traditional owners also allows for any further tenement areas Wedgetail may acquire at Nullagine.

Consideration for the agreement is in the form of a royalty and employment opportunities for people from the communities.

Shares in Wedgetail closed up 0.2c (4.65%) at 4.5c, still well short of the 52-week high of 6.7c achieved in March this year.