Perth, Dec 12, 2008 AEST (ABN Newswire) - Conquest Mining Limited (ASX:CQT)(PINK:CQMLF) is pleased to announce that recent resource definition drilling assays at the Silver Hill Deposit have reported significant mineralisation (Table 1).
Drilling
One metre assay results have been received for a number of recent reverse circulation drill holes. These results are from routine repeat assays of intervals that previously reported anomalous mineralisation in 4 metre composite samples.
A substantial high grade zone was reported in hole HC08RC471, with 15 metres at 29.5g/t gold from 132 metres depth, and included 2 metres at 196g/t gold. This zone previously assayed 16 metres at 5.31g/t gold with the first pass 4 metre composite samples.
Similarly, 1 metre assays of a high grade intersection in hole HC08RC488 reported 19 metres at 510g/t silver from 48 metres depth, including 1 metre at 5,040g/t silver. The previous 4 metre composite assay reported 16 metres at 542g/t silver.
These drill holes were previously reported on the 13th November 2008. Although the 1 metre assay results have shown increases in grade, this infill drilling has not altered the dimensions of the Silver Hill deposit (Figure 1).
Repeat assays were also received from HC08RC476 with 23 metres at 3.68g/t gold - twinning previous drill hole HC08RCD327 as part of QAQC and providing additional samples for metallurgical test work.
Work Programmes
The company has completed drilling for the calendar year to date and is now focused on progressing development studies. Additional step-out drilling around high grade results from drill holes HC08RC471 and HC08RC488 is planned for the 2009 field season.
Joint Venture partner Gold Fields are continuing their exploration efforts with 2 drill rigs and 8 staff on site.
Table 1. Significant Drill Intersections - December 2008.
--------------------------------------------------------------------Drill Hole Depth Significant Intersections Gold Equiv.--------------------------------------------------------------------HC08RC470 131 99-100m; 1m @ 1.07g/tAu, 16g/tAg & 0.08%Cu 1.27 118-121m; 3m @ 2.10g/tAu, 2g/tAg & 0.02%Cu 2.13HC08RC471 187 132-147m; 15m @ 29.5g/tAu, 13g/tAg & 0.47%Cu 29.7 incl. 135-137m; 2m @ 196g/tAu, 51g/tAg & 2.24%Cu 197 156-158m; 2m @ 1.27g/tAu, 1g/tAg & 0.03%Cu 1.28HC08RC476 92 68-91m; 23m @ 3.68g/tAu, 11g/tAg & 0.33%Cu 3.82 incl. 86-87m; 1m @ 53.1g/tAu, 193g/tAg & 6.13%Cu 55.5HC08RC486 78 55-60m; 5m @ 0.02g/tAu, 211g/tAg & 0.04%Cu 2.66HC08RC487 78 60-65m; 5m @ 0.49g/tAu, 109g/tAg & 0.07%Cu 1.85HC08RC488 90 48-67m; 19m @ 0.54g/tAu, 510g/tAg & 1.26%Cu 6.92 incl 50-51m; 1m @ 1.19g/tAu, 5,040g/tAg & 15.2%Cu 64.2---------------------------------------------------------------------
Calculated Gold Equivalent grade is based on 1 gram gold = 80 grams silver
+ denotes holes with 4m composite results awaiting 1m ore grade assays.
Contact
John Terpu
Managing Director
TEL: +61-8-9240-4111
FAX: +61-8-9240-4054
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