Conquest Resources Ltd (CQR)

[NYBob]

RE: Conquest Resources Limited: First Deep Hole Completed at Alexander Gold Project





EXPLORATION GEOLOGY AND RESULTS


Hole CR-10-039 intersected a favorable shear zone in basalts
belonging to the Balmer Assemblage over 10 metres in the hole
(approximately 7.2 metres true thickness) at a depth of 790
vertical metres.

The zone is characterized by three metres of hanging wall
brecciation followed by a zone of shearing and strong silica-
quartz-carbonate and biotite alteration over this interval.

Similar rocks to these at the adjacent Goldcorp Red Lake mine
are host to high grade mineralization within similar shear
structures that are believed to extend onto the Alexander
Property.

Assay values from this structure returned marginally anomalous
gold values and the zone provides encouragement for gold
mineralizing potential both up- and down-dip along this
structure which is untested and open in all directions.

The underlying Bruce Channel sediments were also found
to contain several encouraging 10 to 50 metre thick sections
of sheared sediments which were locally found to contain
massive sulphide replacement and cherty iron formations.

Assays for sampling within the Bruce Channel Formation are
pending.

True thickness of these horizons is unknown as they have never
been tested and outcrop 1,700 metres up-dip on the northern
portion of the Alexander Property under
the Red Lake Mine tailings pond.



http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50681869

http://www.conquestresources.net/project_details.php?pid=3&s=o



Gold mineralization was intersected in four drill holes and gold values were obtained from surface trenching in the sulphide zone.
Drill holes ranged between 246 metres and 387 metres in length.

The Sulphide Zone has been delineated over a strike length of
about 400 metres and by between 7 and 37 metres in width.
In addition, gold-bearing quartz-carbonate veins were
intersected within a parallel structure about 40 metres to the
south.

The Sulphide Zone and gold mineralization are believed to be
similar to the sulphide zones, which were the host of Goldcorp's
original Red Lake Mine from 1945 until the discovery of
the High Grade Zone at depth in 1995.
Goldcorp's No. 1 Shaft, which is still the main hoisting shaft,
is located about 2 km to the west.

Conquest's new Sulphide Zone is on strike within the Mine Trend Deformation Zone.
Goldcorp has stated that it expects that in the long term its
forecast production will come from the Sulphide Zones in
the Far East Zone (discovered in 2001 and expanded in 2004).

The Far East Zone, which will be developed from the No. 3 Shaft,
is believed to be located about 450 metres southwest
of Conquest's Alexander property.

In addition, the presence of goldbearing quartz-carbonate veins
approximately 40 metres to the south of the new Sulphide Zone
confirms that high grade gold values can occur within
the Alexander Property over a considerable strike extent.

The Sulphide Zone has been tested by six holes drilled in 2004
of which four intersected significant mineralization.

The Sulphide Zone comprises massive and disseminated pyrite,
pyrrhotite and minor arsenopyrite which occurs in an altered
mafic volcanic sequence along the footwall contact of a mafic
intrusive body.
The zone has been traced in a northwest-southeast orientation
from surface to a vertical depth of about 130 metres.
The associated alteration includes quartz-carbonate +\-
tourmaline in strongly sheared basalts accompanied by intense
oxidation of the massive sulphides.

The highest gold values were noted in Hole CR-04-32 which
reported 17.6 gm/t gold over 0.1 metres in a southwest-dipping
quartz-carbonate vein.

Hole CR-04-26 reported 4.6 gm/t gold over 0.31 metres in fine
grained sheared basalt with quartz+\-carbonate+\-tourmaline
alteration together with massive and disseminated pyrite and
pyrrhotite replacement.

Hole CR-04-20 intersected 12.82 gm/t gold over 0.14 metres in a
similar quartz carbonate vein to that intersected in hole 32.

Holes CR-04-28 and 29 did not intersect the projected extension
of the Sulphide Zone to the southeast, suggesting that it may
be offset by faulting or may occur at a deeper level.

Hole CR-04-24 intersected 5.5 gm/t gold over 0.12 metres in
quartz-carbonate veins within the basaltintrusive contact zone,
some 350 metres further to the southeast.

The Zone was identified utilizing geochemical and geophysical
surveys.
More detailed geophysical techniques may be able to help trace
the zone further along strike and to depth.
A further induced polarization anomaly located 300 metres to the
southwest, within the hangingwall basalts, may reflect
a deeper mineralized target.

Mineralized Zones & Structures

Conquest has identified a number of mineralized structures on
the Alexander Property.

These mineralized structures have the same southeasterly trend
as that of the regional "Mine Trend" deformation zone and
other structural features which are known to have an important
relationship with economic gold mineralization in
the Goldcorp and Campbell mines.

Conquest hypothesizes that the surface trace of the extension
of the Campbell Fault Zone or the North C Zone, hosts to
significant mineralization at the Campbell and Goldcorp mines,
crosses the southwestern corner of the Conquest claim block.

Previous work on the Alexander property twenty years ago
delineated a zone of sporadic gold mineralization 1,600 metres
in length.

The gold mineralization is dominantly associated with
carbonatized and silicified mafic volcanic rocks
(andesites and basalts) as well as with minor mafic and
ultra-mafic intrusive bodies and chemical metasediments.

On the Alexander Property, carbonate veining is noticeably
more intense in the area drilled in 1981.

Regional distribution of gold mineralization and associated
alteration in the Red Lake camp indicates that proximal zones
of ankerite (iron, magnesium, calcium) alteration,
accompanied by intense potassic metasomatism, and the
presence of arsenic and gold, even at trace levels,
indicate most favourable conditions for
the occurrence of gold mineralization.

Helicopter-borne, DIGHEM electro-magnetic (HEM),
VLF-EM, resistivity and magnetic surveys carried out in
the 1980s indicate 10 conductors present on the Alexander
claims, all of which are parallel, or sub-parallel,
to the main regional foliation (the "Mine Trend").

http://www.conquestresources.net/project_details.php?pid=3&s=r

http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf



http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf