Conquest Minig Limited (ASX:CQT)
Perth, Mar 26, 2009 AEST (ABN Newswire) - Conquest Mining Limited (ASX:CQT)(PINK:CQMLF) Based on the drilling completed to November 2008, the resource estimate at the Silver Hill deposit has been recalculated by independent experts Hellman and Schofield. This recalculation increases confidence over the previous estimate completed in November 2008. The previous resource estimate was based on drilling completed to April 2008.
At a A$20/t value(1) cut-off grade, the tonnage in the Measured and Indicated categories has increased to 20.4 million tonnes while the Inferred category has reduced to 2.4 million tonnes.
Measured plus Indicated resource tonnage has increased by 7% whilst the overall tonnage has reduced by only 1%.
Equivalent Metal prices used to calculate the Resource were:
Gold - US$677.80/ounce
Silver - US$10.12/Ounce
Copper - US$4,162/tonne
Exchange Rate - US$0.72 - A$1.00
Pre Feasibility Study - Preferred process method
Following detailed comparison of a number of possible processes for on-site gold metal recovery from flotation concentrate, i.e. BIOX, Albion, Pressure Oxidation (POX) and Bacterial Leach, as well as an extensive program of metallurgical test work, the Bacterial Leach process has been selected as the most feasible for low grade concentrates. The high grade concentrates will be separately available for sale to refineries. These processes considered to be able to deliver an environmentally acceptable arsenic outcome.
The onsite process includes bacterial oxidation, then leach of base metals by conventional SXEW and CIL processes.
The amenability of the Silver Hill concentrate to Bacterial Leach processing is the subject of ongoing test work but, for the purposes of the Company's plans going forward, all results to date are positive.
Note: (1) Value A$ = 24.213 x gold g/t + 0.2711 x silver g/t + 52.0 x copper % Figures are rounded. Value A$ does not include the value of zinc.
For the full Conquest Mining Limited release see below;
http://www.abnnewswire.net/media/en/docs/60386-ASX-CQT-441911.pdf
Contact
John Terpu
Managing Director
TEL: +61-8-9240-4111
FAX: +61-8-9240-4054
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