Here's an interesting article i came across from May 07 when i...

Here's an interesting article i came across from May 07 when i was looking for that info. Its old news but somewhat reassuring none the less.

http://www.industryadvocate.com.au/editions/NQIA_May07.pdf

Conquest keeps up golden run

CONQUEST Mining would like
nothing more than to start planning
and building an operational mine at
the Silver Hill deposit on their Mt
Carlton exploration lease, north of
Collinsvillle.
Th ey are sitting on a resource already
valued at $1.345 billion dollars in-situ
and as drilling continues, their deposit
could become the biggest gold resource
in northern Queensland.
And therein lies the dilemma.
“We would love to start planning
for a mine, our potential earnings and
our future direction, but everything is
still very liquid,” Conquest managing
director John Terpu said.
“We just can’t see where this (resource
deposit) ends.
“We’re going hell for leather and
keep fi nding more.”
Mr Terpu said while the extent and
grade of the resource was one consideration,
engineering and metallurgical
studies were also major factors which
impacted on the economics of mining
the resource.
“When a clearer picture of the resource
emerges, a full feasibility study
will follow – hopefully starting as early
as June,” he said.
So far, Conquest has sunk a solid
$6 million into the project, which was
initiated in 2002.
In January, at the height of the wet
season, a 20,000m drill program was
started at the Silver Hill prospect with
4,181m of reverse circulation percussion
drilling and 974m of diamond drilling
completed to the end of March.
Results included robust intersections
including one of 6.1m at 30.2 grams
per tonne of gold.
Conquest’s quarterly report stated
that consultants Hellman and Schofi eld
had estimated the Silver Hill deposit
resources to be 9.8 million tonnes at 2.4
grams per tonne gold, 41 grams per tonne
silver and 0.35 per cent copper.
Construction of a new campsite
started earlier this year and is on track
for completion in May.
“Our people are here on a fl y in-fl y out
basis and the camp will accommodate
20,” Mr Terpu said.
“We are looking now to keep expanding
as quickly as we can.”