Conquest Commences Drilling from Goldcorp Red Lake Mine Property
Published : April 14, 2011

Conquest Appoints Vice President of Exploration

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Diamond | Gold | Gold Mine | Gold Mines | Market |

TORONTO, ONTARIO--(Marketwire - April 14, 2011) - Conquest Resources Limited (News - Market indicators)is pleased to announce that the Company has commenced drilling from Goldcorp's Red Lake Gold Mines Ltd. ("Goldcorp") mine property located next to Conquest's 100% owned Alexander Property in Red Lake, Ontario.

Drilling with a second drill rig is underway on the initial 1,600 metre deep hole, CR-11-047, designed to test Balmer Assemblage basalts which occur under the western corner of the Alexander claim block. The hole will be maintained for subsequent wedging following the drilling of the parent hole expected during June.

Conquest has collared hole CR-11-047 from surface approximately 175 metres from the south western corner of the Alexander Property boundary where an estimated 800 metres of drilling in the upper portion of the hole will take place on Goldcorp's property and the remaining lower portion will be on Conquest's Alexander Property. Conquest and Goldcorp will mutually benefit from the information obtained through drilling. 

No formal agreement or interest in the Alexander Property has been assigned to Goldcorp.

SULPHIDE SHEAR ZONE DRILLING

The first drill hole (CR-11-044) was completed to a total hole depth of 1,365 metres. The hole was designed to target the deep extension of the Sulphide Shear Zone which is known to exist on surface over a true-thickness of 7-metres within the Balmer Assemblage. A sheared zone of sulphide mineralization and quartz-carbonate alteration was intersected at a vertical depth of 1,115 metres. Several gold bearing intrusives between 480 and 900 metres vertically were found to contain 1.49 grams per tonne (gpt) gold over 1.17 metres, 0.51 gpt gold over 1.20 metres, and 0.57 gpt gold over 1.12 metres of drill core. Sampling from the sheared and sulphide mineralized zone did not contain significant gold mineralization. The hole was completed in Bruce Channel Formation metasediments.

The second hole (CR-11-045) was collared 150 metres to the grid west and 260 metres to the grid north of CR-11-044. The hole was completed to a depth of 909 metres. A gold mineralized intermediate intrusive in the footwall stratigraphy to the targeted extension of the Sulphide Shear Zone returned 0.50 gpt over 5.45 metres, including 1.09 over 0.95 metres of drill core. The hole was completed in Bruce Channel Formation metasediments. The Sulphide Shear Zone was not intersected. Interpretation of the core and local geology suggests that the Sulphide Shear Zone has been offset by north-south oriented faulting.

A third hole (CR-11-046) is currently being drilled to a planned depth of 1,100 metres between CR-11-044 and -045 to follow up the extension of the Sulphide Shear Zone.

CONQUEST APPOINTS VICE PRESIDENT EXPLORATION

Conquest is pleased to announce the appointment of Mr. Benjamin Batson (P. Geo) to the position of Vice President Exploration of the Company. Mr. Batson has worked with Conquest since 2009 as Exploration Manager directing the Company's exploration program at Red Lake. As a Professional Geologist and graduate of Geological Engineering (Queen's University), Mr. Batson provides a strong technical background and possesses a broad knowledge base of the exploration and mining business in North America. Mr. Batson will continue to focus the Company's efforts at Red Lake, Ontario while also pursuing corporate development opportunities in other favorable gold mining districts in North America.

ABOUT THE ALEXANDER GOLD PROJECT

Conquest's Alexander Property lies immediately east of Goldcorp Inc.'s Red Lake and Campbell mines in the heart of the Red Lake Gold Camp on the important "Mine Trend" regional structure and is almost completely surrounded by Goldcorp's land holdings. The Red Lake Mining District has produced in excess of 25 million ounces of gold over the past 60 years.

The important Balmer Assemblage volcanic rocks, which host the majority of gold produced from the Red Lake greenstone belt, and the adjacent Bruce Channel Formation metasedimentary rocks, which host some of the new gold discoveries at Red Lake, have been identified on the Alexander Property. These prospective host rocks lie within the Red Lake Mine Trend structural corridor which extends southeast from Goldcorp's two gold mines on to and across the Conquest Alexander Property. Many of the regional structures that have associated gold mineralization in the area of the two producing gold mines at Red Lake extend eastwards on to the Alexander Property.

For 2011, Conquest plans to conduct 15,000 metres of Diamond drilling in subsequent phases of exploration on the Alexander Property. The focus is to continue systematic drilling to test the Balmer Assemblage stratigraphy in structures extending from the adjacent Red Lake Mine (Goldcorp) within volcanic lithologies below the 700 metre level under the western and central portions of the Alexander Property.

QUALIFIED PERSON

Information of a scientific or technical nature contained in this release has been prepared by or under the supervision of Terence McKillen, P.Geo., the Chief Executive Officer of the Company and a Qualified Person within the meaning of National Instrument 43-101 of the Canadian Securities Administrators.

Samples are analyzed by AGAT Laboratories in Mississauga, Ontario using a 50 gram pulp fire assay technique with ICP-OES finish. Conquest employs the use of standards, blanks, and duplicate samples to maintain confidence in the analytical techniques used to determine gold content in its core. Fifteen percent of the samples submitted to the laboratory comprise samples used for quality assurance and control for gold content. AGAT also employ the use standards, blanks and duplicate samples to calibrate on a regular basis within batches.

ABOUT THE COMPANY

Conquest and Detour Gold Corporation ("Detour Gold") are exploring for structurally-hosted gold mineralization under a joint-venture agreement at the Sunday Lake property located along the Sunday Lake Deformation Zone approximately seven kilometres east of Detour Gold's 14.9 million ounce proposed open pit gold mine. Detour Gold, as operator, has agreed to expend $1,000,000 on exploration prior to September 30, 2014 to earn a 50% interest in the Sunday Lake Property. Drilling is currently underway by Detour Gold.

Conquest is exploring several gold projects in Ontario. These include the Alexander Gold Project at Red Lake; the Sunday Lake property at Detour Lake in joint venture with Detour Cold Corporation; and, the Smith Lake Gold Project at Missanabie. 

Conquest holds 100,000 shares of Detour Gold Corporation.

There are currently 95,477,728 shares of Conquest issued and outstanding.

This news release may include certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest's expectations are exploration risks detailed herein and from time to time in the filings made by Conquest with securities regulators.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this release.

Conquest Resources Limited
Terence N. McKillen
President & CEO
647-728-4126
or
Conquest Resources Limited
D. Brett Whitelaw
Vice-President Investor Relations
604-984-8633
or
Conquest Resources Limited
John F. Kearney
Chairman
416-362-6686
info@conquestresources.net
www.conquestresources.net

Conquest Resources Ltd

PRODUCER
CODE : CQR.V
ISIN : CA2082871021
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Conquest Res. is a gold producing company based in .

Conquest Res. holds various exploration projects in Canada.

Its main assets in production are BABS&BEEHIVE and PIPER MOSS in Zimbabwe, its main asset in development is DETOUR LAKE (SUNDAY LAKE) in Canada and its main exploration properties are SUGUTI in Tanzania and ALEXANDER, KING BAY, AURORA PROJECT and SMITH LAKE in Canada.

Conquest Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.4 millions as of today (US$ 1.8 millions, € 1.6 millions).

Its stock quote reached its highest recent level on November 21, 2003 at CA$ 0.40, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Conquest Res. has 95 477 728 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Conquest Resources Ltd
12/4/2009private placement financing of up to $4.0 million
Nominations of Conquest Resources Ltd
9/11/2012Announces Appointment of President
Project news of Conquest Resources Ltd
11/24/2009(Alexander)intersects gold in first four holes on Alexander gold proper...
8/19/2009(Alexander)Chooses contractor for Alexander drill project at Red Lake
8/5/2009(Alexander)Plans two-phase drill program at Alexander
5/26/2009(Alexander)Goldcorp drills 4.97 g/t gold over 1.82 metres on Alexander ...
Corporate news of Conquest Resources Ltd
1/19/2015Conquest Sells 50% JV Interest in Sunday Lake Property to De...
5/22/2014Conquest Reports March 31, 2014 First Quarter Results
2/11/2013Detour Gold Commences Winter Work Program at Conquest's Sund...
9/13/2011Releases Scheme Book
6/2/2011Annual Meeting of Shareholders
4/14/2011Commences Drilling from Goldcorp Red Lake Mine Property
3/7/2011Detour Gold Commences Drilling Program at Conquest's Sunday ...
2/15/2011Research Report
8/11/2010amends agreement with Detour Gold Corporation on Conquest's ...
7/18/2009( CQR : TSXV ) updates shareholders through Investment Pitch...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (CQR.V)BERLIN (DFJ.BE)
0.025+0.00%0.0000
TSX-V
CA$ 0.025
09/18 14:16 -
0%
Prev close Open
0.025 0.025
Low High
0.025 0.025
Year l/h YTD var.
0.020 -  0.040 25.00%
52 week l/h 52 week var.
0.015 -  0.040 25.00%
Volume 1 month var.
20,000 -%
24hGold TrendPower© : 15
Produces Gold
Develops Gold
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 4/28/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
202425.00%0.040.02
20230.00%0.040.01
2022-71.43%0.080.02
2021-62.16%0.210.07
2020516.67%0.360.02
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.06+0.57%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 9.02-1.58%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59-3.26%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.05-0.49%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 12.77+1.67%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.34+4.69%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.80-0.55%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.35-0.27%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.