sydney business news

This is yesterdays news Sydney.
Looks like Sydney siders got excited yesterday after they read the news.

Conquest confirms high-grade underground October 6, 2010
.AAP

Conquest Mining has released further drilling results from a high-grade eastern extension to its V2 deposit at the Mt Carlton mine site near Townsville in Queensland.

Conquest says a second drill hole has yielded 10.1 metres at 11 gram per tonne (g/t) gold, 8.3 g/t silver and 0.2 per cent copper from 146 metres.

The results included 1.3 metres at 56.5 g/t gold, 18.9 g/t silver and 0.48 per cent copper from 152.7 metres.

Advertisement: Story continues below Conquest says the high-grade zone outside the planned open pit opens the possibility of an underground operation off the eastern side of the pit.

"The intersection indicates good grade continuity over a strike length of approximately 60m at around 120m below surface," Conquest said in a statement on Wednesday.

Conquest said it plans further drilling to test the continuation of the mineralisation.