CQT - Conquest Mining

[Brissydave]

Trading halt & suspension since opening on Monday ... last sale Fri 16.5c

Announcement out today (Fri) - "Makes commercial strike at its Mt Carlton Project"

Open today 26.5 ... profit takers took it down to 21c ... now it is hovering around the 22c mark.

Anyone holding .... any thoughts ???

 

[imajica]

ASX RELEASE
14 July 2006

Conquest Makes Commercial Strike at its Mt Carlton Project

Conquest Mining Limited (ASX Code: CQT) today announced that it has made its
most significant geological discovery to date at its Mt Carlton Project, located 135 km
east of the Charters Towers Goldfield in Queensland.
Exploration drilling at the Silver Hill prospect has unearthed a deposit containing
commercial mine levels of gold, silver and copper, which builds on previous finds at
the site totalling 3.5 million ounces of silver and 95,000 ounces of gold over the past
two years.
John Terpu, Managing Director at Conquest, said the find is the result of great team
work.
¡ §This find took about 9,000 metres of drilling in more than 80 holes over the past eight
months. In the last two months we struck ore grade minerals in almost every hole, ¡ ¨
Mr Terpu said.
¡ §One cannot say how big this new find really is, but I am quietly confident that
Conquest will continue to add to the resource. I believe there is substantial potential
for expansion of this deposit, as the mineralisation is shallow, flat lying and open in all
directions ¡ ¨.
¡ §So far we have tested only 20 per cent of our 1 kilometre circular magnetic target.
Given the consistency of our finds so far we see no reason why a larger area will not
yield at least similar results, ¡ ¨ he said.
Highlights of the technical data include:
”žh Exploration drilling west along the Silver Hill prospect vein zone has
intersected a significant zone of sulphide mineralisation from 53 metres depth
with 28m@ 4,350 g/t silver, 0.71 g/t gold and 5.9% copper in HC06RC39.
”žh A high grade gold intersection is reported from the V2 prospect area with 11m
@ 27.6 g/t gold, 188 g/t silver and 2.01% copper in hole HC06RC53 from
121m depth. This is within a zone of 46m @ 9.11 g/t gold, 68g/t silver and
1.08% copper from 86 m depth. This hole stopped in mineralisation of 38.8 g/t
gold, 223 g/t silver and 4.29% copper after running out of drill rods at 132m
depth.
All holes were drilled with a Reverse Circulation percussion rig and sampled as 4
metre composites. All samples reporting over 0.2 g/t gold, 25 g/t silver or 0.2%
copper have been re-assayed at 1 metre intervals using an ore grade method.
Table 1: June 2006 Significant Drill Intersections
Drill Hole Coordinates Significant Interval (1m samples)
AMG N AMG E
Silver Hill and V2 Prospect Area
HC06RC-028 7757750 558965 25-27m; 2m @0.01g/tAu, 131g/tAg, 0.189%Cu
49-56m; 7m @0.07g/tAu, 57g/tAg, 0.191%Cu
HC06RC-029 7757685 558864 64-67m; 3m @0.32g/tAu, 42g/tAg, 0.018%Cu
HC06RC-030 7757715 558687 5-8m; 3m @0.33g/tAu, 22g/tAg, 0.003%Cu
16-20m; 4m @0.37g/tAu, 11g/tAg, 0.003%Cu
34-40m; 6m @0.42g/tAu, 28g/tAg, 0.087%Cu
HC06RC-031 7757800 558640 20-22m; 2m @0.02g/tAu, 403g/tAg, 0.358%Cu
50-64m; 14m @0.20g/tAu, 142g/tAg, 0.005%Cu
HC06RC-032 7757853 558693 26-31m; 5m @0.25g/tAu, 85g/tAg, 0.007%Cu
HC06RC-033 7757805 558725 8-18m; 10m @0.30g/tAu, 52g/tAg, 0.011%Cu
22-28m; 6m @0.97g/tAu, 29g/tAg, 0.039%Cu
84-88m; 4m @0.01g/tAu, 34g/tAg, 0.114%Cu
HC06RC-034 7757937 558868 36-74m; 38m @0.78g/tAu, 69g/tAg, 0.359%Cu
HC06RC-035* 7757980 558855 34-81m; 47m @0.35g/tAu, 91g/tAg, 0.390%Cu
HC06RC-036 7757893 558919 29-34m; 5m @1.33g/tAu, 36g/tAg, 0.107%Cu
37-44m; 7m @0.14g/tAu, 71g/tAg, 0.054%Cu
HC06RC-037 7757850 558910 33-36m; 3m @4.19g/tAu, 38g/tAg, 0.545%Cu
45-47m; 2m @0.33g/tAu, 26g/tAg, 0.269%Cu
57-59m; 2m @0.04g/tAu, 87g/tAg, 0.389%Cu
HC06RC-039* 7757800 558595 23-81m; 58m @0.50g/tAu, 1,757g/tAg, 2.93%Cu
Incl 23-53m; 30m @ 0.05 g/t Au, 110 g/t Ag, 0,07%Cu
Incl 53-81m; 28m @0.71 g/t Au, 4,350 g/t Ag, 5.90% Cu
HC06RC-040 7757938 558802 33-45m; 12m @1.88g/tAu, 229g/tAg, 2.72%Cu
52-56m; 4m @0.68g/tAu, 37g/tAg, 0.21%Cu
HC06RC-042 7757997 558800 37-46m; 9m @0.09g/tAu, 51g/tAg, 0.02%Cu
60-66m; 6m @0.11g/tAu, 46g/tAg, 0.07%Cu
HC06RC-043* 7758048 558797 28-60m; 32m @0.32g/tAu, 99g/tAg, 0.34%Cu
86-93m; 7m @0.06g/tAu, 90g/tAg, 0.25%Cu
HC06RC-044 7758055 558850 38-86m; 48m @0.45g/tAu, 60g/tAg, 0.31%Cu
HC06RC-045 7758095 558845 41-77m; 36m @1.36g/tAu, 91g/tAg, 0.64%Cu
85-91m; 6m @0.39g/tAu, 50g/tAg, 0.33%Cu
HC06RC-046* 7758101 558801 38-64m; 26m @0.14g/tAu, 93g/tAg, 0.24%Cu
HC06RC-047+ 7757948 558915 36-56m; 20m @2.38g/tAu, 103g/tAg, 0.834%Cu
64-80m; 16m @0.07g/tAu, 66g/tAg, 0.068%Cu
HC06RC-048*+ 7758000 558915 28-88m; 60m @1.47g/tAu, 102g/tAg, 1.544%Cu
100-108m; 8m @0.85g/tAu, 35g/tAg, 0.436%Cu
HC06RC-049+ 7757994 558955 20-84m; 64m; 1.51g/tAu, 41g/tAg, 0.310%Cu
HC06RC-050 7757950 558955 35-60m; 25m @1.62g/tAu, 36g/tAg, 0.49%Cu
HC06RC-051* 7758047 558910 48-108m; 60m @1.66g/tAu, 97g/tAg, 0.29%Cu
HC06RC-052* 7758055 558975 75-120m; 45m @3.62g/tAu, 32g/tAg, 0.32%Cu
Incl 102-118m; 16m @8.34g/tAu, 55g/tAg, 0.30%Cu
HC06RC-053* 7758101 558975 86-132m; 46m @9.12g/tAu, 68g/tAg, 1.08%Cu
Incl 121-132m; 11m @27.6g/tAu, 188g/tAg, 2.01%Cu
HC06RC-054* 7758100 558915 84-87m; 3m @1.11g/tAu, 99g/tA, 0.58%Cu
104-108m; 4m @7.37g/tAu, 64g/tAg, 0.28%Cu
HC06RC-055+ 7758355 558545 56-60m; 4m @2.22g/tAu, 0.5g/tAg, 0.004%Cu
HC06RC-056+ 7758140 558848 36-60m; 24m @0.11g/tAu, 36g/tAg, 0.272%Cu
All holes drilled magnetic south at -60 degrees, except hole 48 which is vertical.
+ denotes holes with 4m composite results awaiting 1m ore grade assays.
* denotes hole that ended in mineralisation.
About Conquest Mining
Conquest Mining is a Perth-based mining exploration company focused on
discovering low cost gold and silver resources. Exploration at Mt Carlton has delivered
resources at a cost of $15 per ounce of gold compared with an Australian average of
$60 to $70 per ounce for grass-roots exploration.
The company has a large portfolio of tenements with 25,000 km² pegged in
Queensland.
For further information:
John Terpu ¡V Managing Director ¡V 08 9240 4111
Stephen Kerr ¡V Public Relations Exchange ¡V 0411 055 322
This report is based on and accurately reflects information compiled by Mr Peter Rea, BSc., Msc, MAIG, who is
a full time employee of the Company. Mr Rea has sufficient experience which is relevant to the style of
mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as
a Competent Person as defined in the 2004 Edition of the ¡ §Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves. Mr Peter Rea consents to the inclusion in the report of the
matters based on his information in the form and context in which it appears.
7758800 mN
7757800 mN
7758000 mN
7758200 mN
558800 mE
558600 mE
559000 mE
559200 mE
7757600 mN
7758600 mN
7758400 mN
V222 PROSPECT
SIIILVER HIIILL
HERBERT CREEK EAST
DEPOSIIIT
111666
111777111888 111999
222222222000222111
222444 222333
222555
222666
222777
22222289889989
333000
333111
333222
333333
333444
333555
333666
333777
333888
333999
444000
444111
444222
444333 444444
444666 444555
444777
444888 444999
555000
555111 555222
555444 555333
555555
555666
Author:
Office:
Drawing:
Date:13/7/2006
Scale: 1:5000
200
SILVER HILL PROSPECT
DRILL HOLE LOCATIONS
TMI MAGNETIC IMAGE
Figure 1
Projection: A MG Zone 55 (AGD 84)
0 50 100
metres
CONQUEST MINING LIMITED
CIRCULAR
MAGNETIC
TARGET

 

[imajica]

You would have to be mad not to be on this one!!!! have a feeling when the media gets a hold of this one its going to rocket!!!

 

[ALFguy]

You would have to be mad not to be on this one!!!! have a feeling when the media gets a hold of this one its going to rocket!!!

Agreed! Lots of buyer interest at it's highest price yet Good volume too.

 

[stockmaster]

"Conquest Mining (CQT.AU) jumps 8.2% to 26.5 cents on heavy
trading of 3.8 million shares as investors increasingly like news about CQT's
high-grade metals strike during extensive drilling campaign at Mount Carlton
project, east of Charters Towers. CQT ran to 27.5 cents after news issued
Friday, so rally today suggests high levels of confidence in find. Best drill
intercepts included 11 meters grading 27.6 gram/ton gold, 188 grams/ton silver,
2.01% copper; another hole intercepted massive 28 meters that assayed 4,350
grams/ton silver, 0.71 grams/ton gold, 5.9% copper. MD John Terpu believes
substantial upside potential exists for deposit."

I believe 27c is a good price barrier to observe, excess this price means investors r confident with the news? ANy thoughts?

 

[Nicks]

Good call, thanks to your posts I just checked this one out and it looks good, great potential to move up quickly based on its finds, so I got in.

Profit takers may take it down a little in the short term but I think based on the volumes and fundamentals with this one those who get in now and hold on for a bit could see a big move upward following in the same patterns as all other miners who actually have solid business and finds.

The global demand will only get hungrier despite flutters.

 

[ALFguy]

Yeah, great call. Didn't notice this until I read the thread.

Got in early so feeling content

Looks like it's on a run today, just hope it holds.

 

[imajica]

got in this morning at 26.5 cents (13000 shares) topped up with another 16300 at 30 cents

next few weeks should be very interesting indeed!

 

[stockmaster]

got in this morning at 26.5 cents (13000 shares) topped up with another 16300 at 30 cents

next few weeks should be very interesting indeed!

woah, made a good proft today, up 28%, amazing..

 

[Realist]

Before anyone faints, I took a small punt on this myself (yes I gamble okay, blackjack, horses, sports, and now this)

Seems to be going nicely though.

When do I sell though? - argghhh help..

what price would you guys sell at?

 

[stockmaster]

Before anyone faints, I took a small punt on this myself (yes I gamble okay, blackjack, horses, sports, and now this)

Seems to be going nicely though.

When do I sell though? - argghhh help..

what price would you guys sell at?

0.4c, hehehe, I am more greedy!!!

 

[Realist]

Infact it is rocketing!! 32 cents now.

Oh no, I may get hooked on trading... help.

 

[cuttlefish]

Before anyone faints, I took a small punt on this myself (yes I gamble okay, blackjack, horses, sports, and now this)

Seems to be going nicely though.

When do I sell though? - argghhh help..

what price would you guys sell at?

watch it keep going up - then when it backs off a little bit you'll get worried and think maybe I should have sold it - but then you'll see it turn around and start going up again and form a new high - so next time it backs off you'll wait for it to go back up again, but it won't it'll go down a bit more - and you'll think maybe you should sell, but then it will start to go back up again so then you'll think its lucky you didn't sell but you'll definitely sell when it gets back up to where it peaked. And it will get back to where it peaked but you'll think it looks like its really going up now so you'll hold for more profit.

Then it will turn around and go back down a bit again, so you'll wish that you sold and wonder if you should sell, and it'll go down a bit more and you'll really wish you'd sold, but then it will turn around and start to go back up again, and you'll be glad you didn't sell, and maybe it'll go back up to the spot you wish you'd sold at before.

Then it will go down again, and then up for a bit, then back down a bit more and suddenly it'll be back down to the price you bought it, and you'll think damn I missed out on all that profit, maybe I should sell now, and then it will go below what you bought it for and you'll think oh no its going down and I'm going to lose a bit of money but then it'll recover a bit so you'll think lucky I didn't sell and you'll hope that it gets back up to the price you bought it for.

And then it'll get back up to the price you bought it for and you'll think - good lucky I didn't sell I might hold for a bit longer and make a profit after all. But then it will go down again below the price you bought it for, then it will start to fall suddenly and you'll think oh no I'm going to lose quite a lot of money now and you'll sell.

And then it will go up again back to where you bought it and maybe a little bit more and then maybe it'll come back down again but it won't matter any more because you'll have sold.

Thats my prediction of how it'll go for you realist - let us know how you fare.

 

[cuttlefish]

But you'll be happy anyway because it'll mean you don't pay any tax.

 

[REA]

Hang on Cuttlefish my endings are more dramatic than that !

 

[cuttlefish]

is that you realist? (REA?) using a different username (1 post) or someone else?

 

[imajica]

already a bid higher than last close price, always a good sign! should see a nice surge today

 

[imajica]

the buy side is massive!!! at least 40 bidders already in the pre-open over the last close price! happy days

 

[ALFguy]

Up 14% in the first 10 mins with big volume...NICE

 

[redandgreen]

Note the options are trading more strongly than the ordinary shares.
CQTO
A new AUM in the making......caveat emptor