Conquest Mining Limited: High Grade Gold Results From Mount Carlton

10:25 AEST Sept 8, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.

Sydney, Australia (ABN Newswire) - Conquest Mining Limited (ASX: CQT) (PINK: CQMLF) is pleased to announce the discovery of high grade gold mineralisation from an eastern extension to the V2 deposit, extending to 150 meters outside of the current mine plan area, at depth. The enargite-bearing rhyodacite porphyry hosting the mineralisation, shown in figures 1 and 2, has yielded the following results:

- 9.55m @ 11.6g/t Au, 25.3g/t Ag and 0.86% Cu from 148m in hole HC10RCD941
Including: 3.06m @ 18.2g/t Au, 56.8g/t Ag and 1.94% Cu from 148.94m
Also including: 1.5m @ 23.7g/t Au, 18.4g/t Ag and 1.0% Cu from 156.05m

A secondary mineralised zone further down the hole also yielded 9.13m @ 2.14g/t Au, 15.1g/t Ag and 0.47% Cu from 172.87m, indicating the potential for further mineralisation at depth.

The mineralisation is interpreted to represent the along strike continuation (50m) of high grade gold encountered in previously drilled hole HC08RC471, which intersected 6m @ 70.4g/t Au from 133m, and is interpreted to be open along strike to the ENE, and at depth. The mineralised zone in HC08RC471 is also outside of the existing planned open pit wall, and together with the new drilling results, opens the possibility of a high grade underground Au operation off the eastern side of the pit.


Commenting on the results, Conquest's Executive Chairman, Jake Klein, said:

'These new results, identifying further high grade gold mineralisation peripheral to the V2 deposit, highlight the excellent potential for significant additional resources to be added to the Mount Carlton project, and underpinning our view of the prospectivity for new discoveries within our large regional tenement package.'

Further drilling has been planned to test the possible continuation of the gold mineralisation to the north east and at depth.

For the complete Conquest Mining announcement including figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/63674-ASX-CQT-504557.pdf



About Conquest Mining Limited:

Conquest Mining Limited (ASX:CQT) (PINK:CQMLF) is an Australian based and listed mining company with a focus on activities in north Queensland. The company has a 100% interest in the Mt Carlton gold-silver-copper project, near Townsville, that is being advanced towards development. Optimisation studies and a review of the proposed process flowsheet are underway and a development decision is expected in the December quarter of 2010.

Conquest is a growth oriented company that has the focus and ability to deliver a growth plan to achieve mid-tier market status and to take advantage of the benefits available to a company of this status. Conquest will seek to deliver this growth through successful development of its Mt Carlton project and by acting on consolidation opportunities in the relatively fragmented and poorly funded junior market sector.




Contact:

Jake Klein, Executive Chairman
Conquest Mining Limited
Tel: +61-02-8383-2100
www.conquestmining.com.au