Perth, Oct 22, 2008 AEST (ABN Newswire) - Conquest Mining Limited (ASX:CQT)(PINK:CQMLF) is pleased to announce further successful progress with the Bacterial Leach metallurgical test program. Based on the excellent copper recovery a recommendation was made to proceed to Phase 2 of the testwork program.
Bacterial Amenability Tests (BATs)
The bacterial cultures adapted rapidly to the ferric acid pre-leached concentrate with a negligible lag period for commencement of bacterial growth and sulphide oxidation.
Tests are normally conducted over a period of approximately 30 to 60 days varying between different concentrates.
Partial copper solution copper dissolutions of 13.5%, 26.9% and 93.7% were achieved in three different temperature Batch Amenability Tests after 15 days of operation. The test is scheduled to continue for a total of 30 days. On completion of the BATs the solid residue will be analyzed and submitted for cyanidation to recover gold and silver.
The Extreme Thermophile BAT started operation mid September with above 80% copper dissolution after 1 week, and 93.7% copper dissolutions after 15 days of bioleaching.
Conquest has conducted extensive metallurgical test-work during the last year and demonstrated that flotation can routinely recover 95% of gold, silver, and copper in a sulphide concentrate. The company, after receiving expert advice, successfully used the Xstrata owned Albion Process to separate these metals from Silver Hill concentrate samples earlier this year. The current Bacterial Leach test-work program was initiated to ensure that the company had considered a full range of competitive technologies, and to provide a comparison of CAPEX and OPEX over the expected mine life.
High Grade Silver at Area 39
Resource drilling on the west side of Area 39 has continued to intersect high grade silver, with hole HC08RCD447 reporting at 123-148m; 25m @ 0.31g/t gold, 210g/t silver. This hole is located about 120m west of hole 39, along the corridor of high grade silver.
Exploration at Mt Carlton has delivered resources at a cost of $6 per ounce of gold equivalent compared with an Australian average of $60 to $70 per ounce for grass-roots exploration. Conquest Mining has $29.5 million cash reserves, and has a cash backing of 11 cents per share.
NOTE:
This report is based on and accurately reflects information compiled by Mr Peter Rea, BSc., MSc, MAIG, who is a full time employee of the Company. Mr Rea has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Peter Rea consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Contact
John Terpu
Managing Director
TEL: +61-8-9240-4111
FAX: +61-8-9240-4054
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