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, May 25 /CNW/ -
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
Terence N. McKillen, President & CEO,
(647)728-4126;
D. Brett Whitelaw, Vice-President, (604) 662-8633;
John F. Kearney,
Chairman, (416) 362-6686;
Email: info@conquestresources.net,
URL:
http://www.conquestresources.net
Goldcorp Inc. and Conquest Resources ltd. Resources
Conquest Resources Ltd. TSX:V CQR
Tags: Conquest Resources Ltd, Exploration, Gold, Mining, John Kearney, TSX:V CQR, InvestmentPitch.com, Investment, Opportunity, Exploration, Development, Properties, Advanced Stage, Alexander Project, silver, Red Lake, Northwest Ontario, Aurora, Detour, Trade Winds Ventures,
John F. Kearney, Chairman and Director
http://www.investmentpitch.com/media/514/Conquest_Resources_Ltd.__TSXV_CQR/
ConquestResources Limited is a Toronto, Canada based public company listed onthe TSX Venture Exchange(TSXV)under the symbol "CQR". The Company'sprimaryfocus is toenhanceshareholder value by identyfying, exploringanddeveloping worldclassgold-silver projects in Canada andelsewhere.Conquest holdsseveraladvanced stage gold properties inCanada, includingthestrategicallyimportant Alexander Project,located in the heartofnorthwesternOntario's Red Lake gold miningdistrict.
Sector: Mining & Exploration
Main Exchange: TSX:V CQR
Secondary Listing: N/
The dollar will go to a value exactly zero eventually -
http://jessescrossroadscafe.blogspot.com/
Got CQR Gold bargain
WHY RED LAKE GOLD BELT?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41185478
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41481973
http://investorshub.advfn.com/boards/board.aspx?board_id=11788
well that's very nice -
its often good to get in early
to get a good golden position
history often repeat itself -
imo. tia.
God Bless
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