Mount Carlton Gold-Silver-Copper Project
Exploration Strategy
Conquest's exploration strategy is to bring the Mt Carlton project into production. Substantial work is planned for the 2008 season on the Mt Carlton regional joint venture area. In conjunction with Gold Fields, exploration expenditure is expected to be $1.5 million per month of the current year, with a minimum of $5 million expenditure budgeted by Gold Fields.
Currently, exploration drilling at Silver Hill has focused on Area 39 silver zone, and has made good progress with completion of 16 holes for 2,400m. This drilling includes 1,900m of HQ3 diamond core. The main focus of this program has been to explore the depth extent through extension of RC holes that ended in mineralisation, and to follow the strike extension of the silver mineralisation to the west. Exploration by Gold Fields on the Regional Joint Venture ground has resulted in completion of two deep precollared diamond holes, with two in progress. These holes are testing the strike extension to the east of Silver Hill. Geophysical crews have recommenced surveys using airborne EM, ground based IP / resistivity, and gravity geophysical equipment.
Conquest has commenced a program of 130 holes with site earthworks completed on 200m centres. Gold Fields is drill testing targets east of Silver Hill with 25 holes planned along 5km of strike. The Mt Carlton to Silver Hill line of strike has 2 square kilometres of area that has not been drill tested. As this area lies between known deposits it is a prime exploration target. Total drill meterage currently planned is 20,000m, of which 6,000m is diamond core.
Mt Carlton Proposed Drill Holes 2008
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Conquest has decided to commence Pre-Feasibility Studies with the objective of optimising the processing flow sheet and estimating the projected development and operational costs to within 25%. The Pre-Feasibility Studies are expected to take 12 to 15 months before final feasibility.