Conquest Resources Ltd

Published : May 26th, 2009

Goldcorp drills 4.97 g/t gold over 1.82 metres on Alexander Property at Red Lake

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Keywords :   Gold Mines |

 

PRESS RELEASE

 

          goldcorp drills four holes on conquest’s alexander property at RED LAKE

        new GOLD INTERSECTION of 14.25 G/T OVER 0.61 METRES AT A DEPTH OF 300 METRES

 

Toronto, Ontario  May 25, 2009 - Conquest Resources Limited (TSX-V: CQR) is pleased to announce that Goldcorp Inc. (Goldcorp) has recently completed four diamond drill holes on to Conquest’s Alexander Property at Red Lake, Ontario.

The holes were drilled by Goldcorp from its adjacent Red Lake Mine Property as part of a wider program to delineate mineralization within the upper part of the Red Lake Mine.

The four inclined holes, which were collared from surface within approximately 1,000 metres of the Red Lake Mine No. 1 Shaft headframe, were drilled in a north-easterly direction into the western part of Conquest’s property to downhole depths between 690 to 836 metres.

Hole DS641 of Goldcorp’s drilling programme located a significant gold intersection of 4.97 grams per tonne gold over 1.82 metres, including 14.25 g/t over 0.61m, at a down hole depth of 473 metres and an estimated vertical depth of approximately 300 metres. The preliminary drilling results were provided to Conquest by Goldcorp. The gold assay results were determined by SGS and Accurassay Laboratories in Red Lake and Thunder Bay, Ontario.

Conquest’s Alexander Gold Project is located in Balmer Township in the heart of the Red Lake Gold Camp. It lies immediately adjacent to Goldcorp’s high grade Red Lake Mine, within the east-southeast trending Mine Trend deformation zone, and is almost completely surrounded by Goldcorp’s claim holdings.

Commenting on the drilling results, Conquest’s President & CEO, Mr. Terence McKillen, stated: The intersection of good grade gold at this depth on Conquest’s property is extremely encouraging. The gold mineralization previously encountered by Conquest in the west-central part of the Alexander Property was in trenching and shallow drilling. Goldcorp’s four drill holes extend to approximate vertical depths of 450  570 metres representing the deepest drilled holes on the Alexander Property to date. The intersection in hole DS641 confirms gold potential exists at depth on Conquest’s property.

Conquest’s Alexander Property at Red Lake is situated adjacent to Goldcorp’s Red Lake and Campbell gold mines, which contain historic production and current resources in excess of 25 million ounces of gold, approximately 1,000 metres east of the No. 1 Shaft headframe and within 400 metres of the Far East Zone at the Red Lake Mine. Many of the regional structures that have associated gold mineralization in the area of Goldcorp’s two producing mines cross on to the Alexander Property.

Conquest has developed a phased exploration strategy for its Alexander Project to investigate depth extensions from known surface and near surface gold mineralization and plans to initiate the first phase of drilling later this summer.

 

ABOUT CONQUEST RESOURCES

Conquest is exploring several gold projects in Ontario. These include the Alexander gold project at Red Lake; the Aurora and Sunday Lake gold projects at Detour Lake; the King Bay gold project at Sturgeon Lake (60% interest); and the Smith Lake gold project at Missanabie.

Conquest has 72,663,830 shares issued and outstanding.

This release has been prepared under the supervision of Terence N. McKillen, P. Geo. who is a qualified person under NI 43-101, based on data provided by Goldcorp Inc.

 

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.

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

 

WARNING: The Company relies upon litigation protection for "forward-looking" statements.

 

 

 

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

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

D. Brett Whitelaw, Vice-President ? (604) 662-8633

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

Rob Kinloch ? (306) 343-5799

 

Email:  info@conquestresources.net

 

            www.conquestresources.net

 

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Conquest Resources Ltd

PRODUCER
CODE : CQR.V
ISIN : CA2082871021
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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$ 2.9 millions as of today (US$ 2.3 millions, € 2.0 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.

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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...
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