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Detour Gold Corporation

Published : March 07th, 2011

Detour Gold commences drilling program at Conquest's Sunday Lake P

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      Detour gold COMMENCES Drilling program at CONQUEST s sunday lake Property

Toronto, Ontario   March 7, 2011 | Conquest Resources Limited (TSX-V:  CQR ) is pleased to report that Detour Gold Corporation ( Detour Gold ) has commenced a 2,000-metre diamond drilling program at Conquest s Sunday Lake Property, which is currently under  joint venture option to Detour Gold.

A total of 10 exploration drill holes are planned from five prioritized drill target areas defined by Detour Gold  by their recently completed induced polarization (IP) geophysical survey and MMI (Mobile Metal Ion) soil geochemical program conducted on the property, (see  CQR Press Releases   October 27, 2010 and January 19, 2011) and historical work compilation.

Detour Gold has defined prospective targets for gold mineralization in areas of high chargeability along a shear structure located 500 metres to the north and parallel to the Sunday Lake Deformation Zone (SLDZ), which transect a significant portion of the seven-kilometre length of the Sunday Lake Property.

In September 2010, Conquest entered into a joint venture with Detour Gold on Conquest s Sunday Lake Property pursuant to which Detour Gold has the right to earn a 50% interest in the Sunday Lake Property by completing $1,000,000 of exploration over the next two years, including a minimum expenditure of $500,000 prior to September 30, 2011. 

Detour Gold has initiated construction activities at its Detour Lake open pit mine, with a mineral reserve of 14.9 million ounces, located approximately seven kilometers west of Conquest s Sunday Lake property.

Conquest holds 100,000 shares of Detour Gold Corporation.

ABOUT THE COMPANY

Conquest also continues to explore at its 100% owned Alexander Gold Project in the heart of the Red Lake gold camp with its ongoing multi-phase 20,000 metre, deep drilling program. 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 Gold Corporation; and the Smith Lake Gold Project at Missanabie.

There are currently 95,239,092 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.

                                   

FOR FURTHER INFORMATION, PLEASE CONTACT: 

 

D. Brett Whitelaw, Vice-President   (604) 984 - 8633 - Vancouver 

Rob Kinloch, Director   (306) 343- 5799 - Saskatoon 

Terence N. McKillen, President & CEO   (647) 728- 4126Toronto  

John F. Kearney, Chairman   (416) 362- 6686 - Toronto 

 

info@conquestresources.net

 

www.conquestresources.net

 

 

 

Companies Mentionned : Detour Gold | Total |
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Detour Gold Corporation

DEVELOPMENT STAGE
CODE : DGC.TO
ISIN : CA2506691088
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Detour Gold is an exploration gold company based in Canada.

Its main asset in development is DETOUR LAKE (SUNDAY LAKE) in Canada and its main exploration property is BLOCK A in Canada.

Detour Gold is listed in Canada. Its market capitalisation is CA$ 4.4 billions as of today (US$ 3.4 billions, € 3.1 billions).

Its stock quote reached its highest recent level on February 06, 2009 at CA$ 9.97, and its lowest recent point on July 03, 2009 at CA$ 10.01.

Detour Gold has 171 560 000 shares outstanding.

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