Australia | Jan 29 2007
By Rudi Filapek-Vandyck
Market speculation regarding Perth-based junior exploration hopeful Conquest Mining (CQT) has proven correct with the company announcing drilling at the Silver Hill deposit has located further high grade gold intersections that add “significantly” to the depth extent of the deposit.
The statement released to the stock exchange talks of “spectacular drilling results”.
Importantly, the company statement notes, the eastern extent of the mineralisation is still only limited by the extent of drilling completed, suggesting the potential for further blue sky in both the company’s future achievements as its share price.
As drilling has recommenced on January 11, the company notes the results presented in Monday’s announcement include most of the outstanding assays from the last 20 holes of 2006. Assays are still awaited for 1 reverse circulation (RC) hole and 5 diamond core holes, the statement reads.
It can only be admitted that the company’s latest market update signals some highly promising drilling results, including grades up to 635 g/t gold. The company reports that repeat assay of this sample using gravimetric fire assay reported 656 and 671 g/t gold.
For a flashback on Conquest Mining, we gladly refer to the weekly editorial, Rudi on Thursday, from January 17.
At around 1.24pm, Conquest Mining shares were up 2.78%, 2.5 cents, at $0.925 in what would appear above average trading volume.