Conquest Resources Ltd. (CQRLF)

[NYBob]

Conquest Resources Limited owns The Beehive and Babs Gold Mines, Midlands Goldfield -

http://www.conquestresources.net/project_details.php?pid=7&s=o

The Babs & Beehive Mines are former gold production properties
situated respectively about 10km north and 30km northwest of
Kwe Kwe.

The mines were developed by African Gold PLC of London
between 1997 and 1998 at a cost of approximately $4.5 million
and operated for nine months before being placed on care
and maintenance in early 1999 as a result of falling gold
prices and increasing costs in Zimbabwean currency.

The inferred mineral resource for both mines is 360,000 tonnes
at a grade of 5.7gm/t gold.
A further open pit potential of 400,000 tonnes of low grade
mineralisation may be amenable to heap leach gold extraction.
The mines are considered to have excellent upside for additional
reserves to be delineated following completion of drilling
and underground development programmes.

As part of the acquisition Conquest acquired a 300 tonne per day
processing plant located at the Beehive mine site which
was constructed in 1998.

Project Location

The Beehive mine is located approximately 10km north of Kwekwe,
adjacent to the Indarama and Sherwood Star gold mines and
6km north of the Piper Moss mine.
The Babs mine is located 30km west of Kwe Kwe.

The Beehive mine is readily accessible from the main
Harare-Bulawayo highway and the Kwe Kwe-Gokwe paved
highway passes alongside the Babs property.
There is 33kva electrical power supply from the national
power grid available at both sites.

Project Geology

The mine properties lie within the Midlands Greenstone Belt,
the largest and most prolific of the greenstone belts in
terms of gold production for Zimbabwe.
Within the belt, the Bulawayan and Shamvian Groups represent
the two dominant stratigraphic units.
The Bulawayan Group is the older and defines the lateral extent
of the greenstone belt.
It consists primarily of mafic to felsic volcanics which
have been subdivided into a lower Mafic Formation, a middle
sequence consisting of intermediate volcanics known as
the Maliyami Formation, and an upper Felsic Formation.
The Shamvian Group unconformably overlies the Bulawayan volcanics and consists prim arily of a series of immature volcanic derived sediments which are generally represented by greywackes, grits, phyllites and conglomerates. The structural evolution of the Midlands Greenstone Belt initially involved extension, which led to the emplacement of the volcanics of the Bulawayan Group. Later the Sesombi, Whitewaters and Biri tonalites were intruded. This led to compressional deformation which formed a regional cleavage and foliation, folding and hearing, together with low grade metamorphism.

The Beehive mine is located along the regional Taba Mali deformation zone and is hosted in mafic greenstones and pillow lavas of the Mafic Formation of the Bulawayan Group. Three cross cutting banded ironstone bodies occur within the immediate mine complex which host gold mineralization. A felsic quartz porphyry containing low grade gold mineralization occurs to the south. The Babs mine is located in sheared propylitized andesitic lavas assigned to the Maliyama Formation of the upper Bulawayan Group. The Sesombi tonalitic intrusive occurs to the north and east of the mine.
Reserves and Resources

There are no reserves on the properties that can be defined
under National Instrument 43-101.
An inferred mineral resource for both mines, as presented
by L. S. Blake of Blake Geological Consultants Limited
in a report dated October 20, 2000, is 360,000 tonnes
at a grade of 5.7g/t gold
(Beehive: 145,000 tonnes at 8.8g/t Au; Babs: 214,000 tonnes
at 5.0g/t Au).
Blake indicates that a further inferred mineral resource
of 400,000 tonnes of low grade mineralisation may be amenable
to open pit mining and to heap leach gold extraction.
The properties are considered to have potential for mineral
resources and reserves to be delineated following completion
of drilling and underground development programmes.

http://www.conquestresources.net/project_details.php?pid=7&s=g

http://www.conquestresources.net/projects.php

http://www.conquestresources.net/

http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf

http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf

http://www.conquestresources.net/news_project.php

http://www.conquestresources.net/news_breaking.php

http://www.conquestresources.net/invest_ownership_profile.php