Conquest Mining's (ASX:CQT) second drill hole at the Mt Carlton mine site near Townsville in Queensland has delivered high grade gold results. The gold / copper mining project is owned wholly by Conquest Mining.
The drill results have yielded 11 grams per tonne of gold and 8.3 grams per tonne of silver at 10.1 metres and 0.2 per cent copper from 146 metres. The miner is planning on drilling further to gauge the extent of mineralisation.
The high grade zone which was discovered is outside the planned open pit mine zone and may point to an underground operation on the eastern part of the pit. The economic viability of a second mining site will be determined by the extent of the deposit.
In a statement on Wednesday Conquest Mining said that the intersection indicated a good grade continuity over a strike length of approximately 60 metres at around 120 metres below surface. There are plans for further drilling to test the continuation of mineralisation.