- Detour
gold COMMENCES geophysical survey at CONQUEST?s sunday lake
Property
- Winter
Drill program planned for
Sunday lake
Toronto, Ontario
? January 19, 2011 | Conquest Resources Limited (TSX-V:
?CQR?) is pleased to report that
Detour Gold Corporation (?Detour Gold?) has commenced a ground-based
geophysical survey at Conquest?s Sunday Lake
Property, which is currently under option to Detour Gold.
The survey is comprised of 50 line-kilometres
of induced polarization geophysics that will take approximately two weeks to
complete, which in combination with the recently completed MMI soil
geochemistry program (see Press Release ? October
27, 2010), has been designed to assist in the prioritization of drill
targets for the upcoming winter drill season.
Conquest?s Sunday Lake Property consists of 13 square kilometers
of prospective mineral leases located along the Sunday Lake Deformation Zone
approximately seven kilometres east of Detour Gold?s 11.4 million ounce proposed open pit gold
mine.
During 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 on exploration over the next
two years, including a minimum expenditure of $500,000 prior to September 30,
2011.
Conquest also holds 100,000 shares of Detour Gold
Corporation.
Conquest anticipates Detour Gold will commence a drill
program on the Sunday Lake Property following the completion of the geophysical
survey.
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 Cold 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.