Conquest flags big resourceJesse RiseboroughWednesday, March 16,...

Conquest flags big resource


Jesse Riseborough


Wednesday, March 16, 2005
JUNIOR diamond and gold explorer Conquest Mining could unveil a significant new JORC compliant resource estimate for its flagship Ellendale 17 diamond project in the near future, with HMS sampling of a 2000 tonne sample expected to take around eight weeks.

Conquest said the HMS work would begin early next month.

Conquest managing director John Terpu could not be reached by MiningNews.net this morning, but in a release to the market the company said it believed up to 37 million tonnes of lamproite is prospective for gem quality diamonds based on the company's micro-diamond and indicator mineral evidence.

Conquest further said that a 30 million tonne resource at Ellendale 17 could have an in-ground value of more than $500 million.

Shares in Conquest were off 0.5c at 20.5c in early afternoon trade.