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Conquest Intersects Gold Mineralization in Five Drill Holes at
Smith Lake Gold Property in Northern Ontario -
TORONTO, ONTARIO--(Marketwire - March 20, 2012) -
Conquest Resources Limited
(TSX VENTURE:CQR) reports that it has completed fifteen drill
holes totaling 1,759 metres of diamond drilling in a planned
2,500 metre exploration program at its 100% owned Smith Lake
Gold Property, located adjacent to the former Renabie Gold
Mine, in northern Ontario.
Of the fifteen holes completed since the commencement of
drilling in February 2012, Conquest has received assay
results on the initial six holes with five of the six holes,
namely CSL-12-011, CSL-12-012, CSL-12-013, CSL-12-015 and
CSL-12-016 returning anomalous gold values between 0.52
and 2.80 grams of gold per tonne (gpt Au) over 0.25 to
1.52 metres true thickness in eleven of a total of
ninety-two samples, detailed below.
http://www.conquestresources.net/pdfs/CQR%20Smith%20Lake%20Update%2020120319.pdf
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
http://www.conquestresources.net/
http://www.conquestresources.net/project_details.php?pid=16&s=r
Conquest Commences Drilling at Its Smith Lake Gold Property
in Northern Ontario
TORONTO, ONTARIO--(Marketwire - Feb. 8, 2012) -
Conquest Resources Limited -
(TSX VENTURE:CQR) reports that it has commenced a 2,500 metre
diamond drilling program at its 100% owned Smith Lake Gold
Property, located within the Missanabie-Goudreau Greenstone
Belt, in northern Ontario.
Summit Drilling Services Inc. has been contracted to operate
their lightweight drilling equipment for an estimated three
months of BQ-sized exploration core drilling.
A total of 20 planned drill holes have been designed to test
near surface vein systems and other structural targets on
the property.
The first four holes of the program have been planned to follow
up Conquest's high grade 63.3 grams per tonne (g/t) gold
intersection from hole CSL-11-001 (as previously reported -
see Press Release dated September 19, 2011)
in the Company's 2011 autumn drilling program.
Second order priority holes will target east-west oriented
structures near the northern extension of the north-south
oriented Braminco Shear Zone.
Additional targets have been identified at sites with coincident
structural and Mobile Metal Ion ("MMI") surface
geochemical anomalies.
ABOUT THE SMITH LAKE PROPERTY
Conquest's Smith Lake Property consists of six patented mining
claims and 24 contiguous mining claims comprising over a 50
square kilometer area that is located contiguous with the
former Barrick/Homestake Renabie Gold Mine which closed in
1991 having produced more than 1,000,000 ounces of gold
since 1941 from reported reserves of approximately 6 million
tonnes at an average grade of 6.6 grams per tonne gold
and 2 grams per tonne silver.
During 2011, Conquest completed 1,109 metres of diamond drilling
on Conquest's 100% owned patented mining claims at Smith Lake.
The most significant gold intersection on the Smith Lake
Property was located in the first drill hole of the program
grading 63.3 grams per tonne (g/t) of gold over 0.28 metres
within a mineralized quartz vein in hole CSL-11-001.
Of a total 318 samples collected from the ten hole program,
30 samples returned anomalous assays ranging from 0.25 g/t
to 63.3 g/t gold over 0.22 to 1.50 metres in
core length thickness.
Gold mineralization in the Renabie area is the result of
repetitive hydraulic fracturing and shear zone inflation
within Archean-aged granitoid intrusives.
The repetitive nature of veining results in ribbon textured
veining that is strongly controlled by two main structural
trends oriented east-west and northwest-southeast, both of
which are present on Conquest's patented mining claim group
at Smith Lake.
QUALIFIED PERSON
Information of a scientific or technical nature contained
in this release has been prepared by or under the supervision
of Terence McKillen, P.Geo., the Chief Executive Officer
and Benjamin Batson, P. Geo., the Vice Present of Exploration
of the Company, both of whom are Qualified Persons within
the meaning of National Instrument 43-101 of the
Canadian Securities Administrators.
Samples were analyzed by AGAT Laboratories in Mississauga,
Ontario using a 50 gram pulp fire assay technique with
ICP-OES finish.
AGAT employs the use standards, blanks and duplicate samples
to calibrate on a regular basis within batches.
ABOUT THE COMPANY
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.
Conquest and Detour Gold Corporation are exploring for
structurally-hosted gold mineralization under a joint-venture
agreement at the Sunday Lake property located along
the Sunday Lake Deformation Zone approximately seven
kilometers east of Detour Gold's 15.6 million ounce
planned open pit gold mine.
Detour Gold, as operator, has agreed to expend $1,000,000
on exploration prior to September 30, 2012 to earn a
50% interest in the Sunday Lake Property.
Detour Gold completed 1,600 metres of exploration drilling
during winter 2011 and is currently planning a 2,000 metre
winter drilling program for 2012.
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
http://www.conquestresources.net/pdfs/2012%2002%2006%20CQR%20Smith%20Lake%20Winter%20Drilling%20StartUp.pdf
CQR reported 68 gram per tonne gold intersection over 1.68 metres (2.2 ounces per ton gold over 6 feet) -
http://www.conquestresources.net/pdfs/CQR%20-2011%2009%2014%20-%20NR%20re%20Smith%20Lake%20(3).pdf
Ore Train in Gold Mine Renabie, Ontario, Canada -
CONQUEST INTERSECTS 63 G/T GOLD OVER 0.28 METRES AT SMITH LAKE PROPERTY -
http://www.conquestresources.net/pdfs/Revised%20CQR%20(Smith%20Drilling)%2020110919.pdf
http://investorshub.advfn.com/boards/board.aspx?board_id=11788
http://www.conquestresources.net/
Renabie Gold Mine - short history -
The company’s first acquisition was the Renabie mine,
near Wawa, Ontario,
http://www.conquestresources.net/
http://www.conquestresources.net/project_details.php?pid=16&s=o
- which produced around 16,000 ounces of gold in 1984.
In 1984, Barrick Gold acquired Camflo Mining, which had
operations in the province of Quebec and in
the U.S. state of Nevada.
Barrick’s effort to purchase was slowed by skepticism the
company could assume Camflo’s debt of around $100 million.
The sale was finalized in May, 1984, with terms that obligated
Barrick Gold to repay the debt to The Royal Bank of Canada
within one year.
The debt was fully paid in January, 1985.
Barrick Resources acquisition was Mercur mine in Mercur, Utah
in June 1985, followed by the Gold Strike Mine, Nevada in 1986.
Gold Strike Mine is in Carlin trend, estimated producing
100 million ounces of gold. - GOLD AND SILVER
history often repeat itself -
Read more at:
http://www.goldsilverdailyprice.com/2011/07/barrick-gold.html
God Bless
Conquest Resources L (CQR) fiat$0.085 UP $0.015 +21.43% 
Volume: 199,000 @ 3:59:41 PM ET
Bid Ask Day's Range
0.08 0.085 0.07 - 0.085
TSX:CQR Detailed Quote Wiki
Conquest Reports Surface Gold Mineralization on Its Smith Lake Ontario Property -
TORONTO, ONTARIO--(Marketwire - Nov. 17, 2011) -
Conquest Resources Limited
(TSX VENTURE:CQR) is pleased to report encouraging assay
results from surface channel samples obtained during its recent
mapping and sampling trench excavation carried out at its 100%
owned Smith Lake Gold Project where 50% of the samples
collected returned significant gold values ranging
from 1 to 14.7 grams per tonne gold.
The Smith Lake Property
is located adjacent to the former Renabie Gold Mine
in northern Ontario where Conquest has uncovered a mineralized
zone of significant width comprised of folded quartz veining
over six metres in true thickness where gold mineralization
appears consistently elevated.
An outcrop was excavated in conjunction with recently reported
preliminary diamond drilling at the site of a quartz vein
prospect where a total of 54 samples were cut from the trench
exposure and sent for gold assay.
Twenty-one channel samples and six grab samples assayed greater
than 1.0 gram of Gold per tonne (gpt Au) including:
14.7 gpt Au over 0.69 metres (m)
10.6 gpt Au over 1.06 m
adjacent to
6.45 gpt Au over 1.06 m
and
7.17 gpt Au over 1.05 m
7.41 gpt Au over 0.49 m
4.57 gpt Au over 1.07 m
http://tmx.quotemedia.com/article.php?newsid=46215246&qm_symbol=CQR
Conquest Intersects 6.34 Metres of 3.95 Grams Per Tonne Gold at Red Lake -
TORONTO, ONTARIO--(Marketwire - Oct. 13, 2011) -
Conquest Resources Limited
(TSX VENTURE:CQR) is pleased to report that the Company has
intersected 6.34 metres of gold mineralization grading 3.95
grams per tonne (gpt) gold in the most recently completed
drill hole at the Company's 100% owned Alexander Gold Project
in Red Lake, Ontario.
Hole CR-11-051 intersected 3.95 gpt gold over 6.34 metres,
including 17.50 gpt gold over 1.24 metres which includes
31.25 gpt gold over 0.53 metres of core at a hole depth
of 495 metres.
Hole CR-11-051 was collared in a northeasterly direction near
the southern property boundary adjacent to
Goldcorp's Red Lake mine property.
Assay results from hole CR-11-051, including this 31.25 gpt gold
assay, represent the highest grade intersections on the
Alexander Property to date.
This gold mineralization is present within a broad pyrite-
arsenopyrite bearing quartz monzodiorite intrusive of
unknown true thickness located in the hanging wall to
Eastern Shear Zone belonging to the Balmer Assemblage
suite of rocks.
CONQUEST'S ALEXANDER EASTERN SHEAR ZONE
During Summer 2011, Conquest discovered the Eastern Shear Zone,
a new sulphide mineralized zone of shearing found in hole
CR-11-048 (see Press Release – August 03, 2011) located 750
metres southeast of the Central Sulphide Shear Zone which was
discovered in exploration drilling by Conquest during 2004. Follow-up drilling in holes CR-11-049, -050, and -051 suggests
that the geometry and location of the Eastern Shear Zone is
similarly oriented in strike and dip, but is a separate zone
spatially from the Central Sulphide Shear Zone.
The Eastern Shear Zone is characterized by narrow
pyrite-(arsenopyrite) and pyrrhotite-(pyrite-arsenopyrite-
chalcopyrite) stringers with associated quartz-
carbonate-(pyrite) veins within a structural envelope
of shearing and biotite-chlorite-(silica) altered Balmer
assemblage basalts ranging from 5 to 10 metres in true thickness.
Earlier mining activities at Goldcorp's Red Lake Gold Mine –
No. 1 Red Lake Complex (the former Dickenson Mine) produced gold
from mineralized Balmer assemblage basalts similar to those
sulphide-carbonate bearing sheared Balmer volcanics which have
been identified at Conquest's Central Sulphide Shear Zone and
Eastern Shear Zone.
FUTURE PLANS
Follow-up drilling on the Company's Alexander Property is planned
in the next hole, CR-11-052, which will be collared in a
northeasterly direction from a setup located approximately 100
metres east of CR-11-048 (325 metres east of CR-11-051)
along the southern Conquest/Goldcorp mine property boundary
under freezing conditions during January 2012.
No drill holes have yet tested the eastern or depth extent
of the Eastern Shear Zone horizon, which is approximately
one square-kilometre in size along a vertical longitudinal
section oriented 130AZ/-60DIP through the central and
eastern portion of the Alexander Property.
The system remains open at depth and along strike and represents
a significant new exploration target.
ABOUT THE ALEXANDER GOLD PROJECT
Conquest's Alexander Property lies immediately east of Goldcorp
Inc.'s Red Lake and Campbell mines in the heart of the Red Lake
Gold Camp on the important "Mine Trend" regional structure and
is almost completely surrounded by Goldcorp's land holdings.
The Red Lake Mining District has produced in excess of 25
million ounces of gold over the past 60 years.
The important Balmer Assemblage volcanic rocks, which host the
majority of gold produced from the Red Lake greenstone belt,
and the adjacent Bruce Channel Formation metasedimentary rocks,
which host some of the new gold discoveries at Red Lake,
have been identified on the Alexander Property.
These prospective host rocks lie within the Red Lake Mine Trend
structural corridor which extends southeast from Goldcorp's two
gold mines on to and across the Conquest Alexander Property.
Many of the regional structures that have associated gold
mineralization in the area of the two producing gold mines
at Red Lake extend eastwards on to the Alexander Property.
A total of 9,772 metres of NQ sized drilling has been completed
by Conquest during 2011.
Two drill rigs are onsite and ready to resume drilling on
frozen ground following the year-end freeze-up.
QUALIFIED PERSON
Information of a scientific or technical nature contained in
this release has been prepared by or under the supervision
of Terence McKillen, P.Geo., the Chief Executive Officer
and Benjamin Batson, P. Geo., the Vice President of
Exploration of the Company, both of whom are Qualified
Persons within the meaning of National Instrument 43-101 of
the Canadian Securities Administrators.
Samples are analyzed by AGAT Laboratories in Mississauga,
Ontario using a 50 gram pulp fire assay technique with
ICP-OES finish. Conquest employs the use of standards,
blanks, and duplicate samples to maintain confidence in
the analytical techniques used to determine gold content
in its core.
Fifteen percent of the samples submitted to the laboratory
comprise samples used for quality assurance and control for
gold content.
AGAT also employ the use standards, blanks and duplicate
samples to calibrate on a regular basis within batches.
CONTINUED EXPLORATION AT CONQUEST'S OTHER GOLD PROPERTIES
Conquest is also drilling at its 100% owned Smith Lake Gold
Project located adjacent to the former Barrick Renabie Gold Mine
near Missanabie, Ontario.
A total of 1,109 metres of exploration drilling was completed
during the Fall of 2011.
The first hole of the program, CSL-11-001 contained a high grade
intersection of gold grading 63.3 grams per tonne over 0.28
metres within the targeted structurally hosted quartz-pyrite vein.
Historical production from vein-hosted gold bearing structures
at the adjacent former Renabie Gold Mine totaled more than
1,000,000 ounces of gold since 1941 from reported reserves
of approximately 6 million tonnes at an average grade
of 6.6 grams of gold and 2 grams of silver per tonne.
Assays are pending from holes CSL-11-002 through CSL-11-010
at Smith Lake and are expected by the end of October.
In addition to its drilling programs at Red Lake and Smith Lake,
Conquest is exploring for structurally-hosted gold
mineralization under a joint-venture agreement with
Detour Gold Corporation ("Detour Gold") at
the Sunday Lake property located along
the Sunday Lake Deformation Zone approximately seven kilometres
east of Detour Gold's 14.9 million ounce proposed open pit gold
mine.
Detour Gold completed a seven-hole drill program comprising
1,650 metres of exploration drilling during Winter 2010/11.
Conquest expects that additional exploration drilling will
be planned for Winter 2011/12.
Conquest holds 80,000 shares of Detour Gold Corporation.
There are currently 95,477,728 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.
http://www.conquestresources.net/news_breaking.php
http://www.conquestresources.net
http://tmx.quotemedia.com/article.php?newsid=45224246&qm_symbol=CQR
Renabie Gold Mine - short history -
The company’s first acquisition was the Renabie mine, near Wawa, Ontario,
which produced around 16,000 ounces of gold in 1984.
In 1984, Barrick Gold acquired Camflo Mining, which had operations
in the province of Quebec and in the U.S. state of Nevada.
Barrick’s effort to purchase was slowed by skepticism the company
could assume Camflo’s debt of around $100 million.
The sale was finalized in May, 1984, with terms that obligated
Barrick Gold to repay the debt to The Royal Bank of Canada
within one year. The debt was fully paid in January, 1985.
Barrick Resources acquisition was Mercur mine in Mercur , Utah
in June 1985, followed by the Gold Strike Mine, Nevada in 1986.
Gold Strike Mine is in Carlin trend, estimated producing 100
million ounces of gold. - GOLD AND SILVER
Read more at: http://www.goldsilverdailyprice.com/2011/07/barrick-gold.html
CQR reported 68 gram per tonne gold intersection over 1.68 metres (2.2 ounces per ton gold over 6 feet) -
http://www.conquestresources.net/pdfs/CQR%20-2011%2009%2014%20-%20NR%20re%20Smith%20Lake%20(3).pdf
Ore Train in Gold Mine Renabie, Ontario, Canada -
CONQUEST INTERSECTS 63 G/T GOLD OVER 0.28 METRES AT SMITH LAKE PROPERTY -
http://www.conquestresources.net/pdfs/Revised%20CQR%20(Smith%20Drilling)%2020110919.pdf
http://investorshub.advfn.com/boards/board.aspx?board_id=11788
http://www.conquestresources.net/
history often repeat itself -
Read more at:
http://www.goldsilverdailyprice.com/2011/07/barrick-gold.html
God Bless
Conquest Resources L (CQR) fiat$0.125 UP $0.015 +13.64%
Volume: 80,800 @ 2:55:22 PM ET
Bid Ask Day's Range
0.115 0.125 0.12 - 0.125
Conquest Resources Ltd. (TSX:CQR) Presentation;
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
CQR Fact Sheet;
http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63616331
Conquest Resources L (CQR) fiat$0.125 UP $0.015 +13.64%
Volume: 35,000 @ 3:14:38 PM ET
Bid Ask Day's Range
0.115 0.125 0.125 - 0.125
TSX:CQR Detailed Quote
Conquest Resources Ltd. (TSX:CQR) Presentation;
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
CQR Fact Sheet;
http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63616331
Red Lake Gold Mine Mother -
Goldcorp makes welcome to CQRLF newborn Au-baby
will she help the Au-golden-baby
to grow into the Mother Au-lode
history tells CQRLF -
He Struck Gold on the Net (Really)
By: Linda TischlerMay 31, 2002
Rob McEwen owned an underperforming gold mine in northwestern Ontario, and he needed new ideas about where to dig. So he broke new ground -- and made data on the mine available online to anyone who wanted to help. Eureka! The Internet gold rush was on.
In January 1848, a work crew at John Sutter's mill, near Sacramento, California, came across a few select nuggets of gold. Before long, a half-million prospectors arrived there seeking instant riches. The gold rush was on. Some 153 years later, another gold rush broke out at an old mine called Red Lake, in northwestern Ontario. This time, the fortune hunters wielded geological-modeling software and database mining tools rather than picks and shovels. The big winners were from Australia. And they had never even seen the mine.
Rob McEwen, chairman and CEO of Goldcorp Inc., based in Toronto, had triggered the gold rush by issuing an extraordinary challenge to the world's geologists: We'll show you all of our data on the Red Lake mine online if you tell us where we're likely to find the next 6 million ounces of gold. The prize: a total of $575,000, with a top award of $105,000.
The mining community was flabbergasted. "We've seen very large data sets from government surveys online," says Nick Archibald, managing director of Fractal Graphics, the winning organization from West Perth, Australia. "But for a company to post that information and say, 'Here I am, warts and all,' is quite unusual indeed."
McEwen knew that the contest, which he called the Goldcorp Challenge, entailed big risks. For one thing, it exposed the company to a hostile-takeover bid. But the risks of continuing to do things the old way were even greater. "Mining is one of humanity's oldest industrial pursuits," McEwen says. "This is old old economy. But a mineral discovery is like a technological discovery. There's the same rapid creation of wealth as rising expectations improve profitability. If we could find gold faster, we could really improve the value of the company."
McEwen, a small, soft-spoken man with a neatly trimmed mustache and meticulous tailoring, had one big advantage over his slow-footed competitors: He wasn't a miner, he didn't think like a miner, and he wasn't constrained by a miner's conventional wisdom. As a young man, he went to work for Merrill Lynch, following his father into the investment business. But his father also had a fascination with gold, and McEwen grew up hearing tales of miners, prospectors, and grubstakes at the dinner table. Soon he was bitten by the gold bug too, and he hammered out a template of what he thought a 21st-century gold-mining company should look like. In 1989, he saw his chance. He stepped into a takeover battle as a white knight and emerged as majority owner of an old and underperforming mine in Ontario.
It was hardly a dream come true. The gold market was depressed. The mine's operating costs were high. The miners went on strike. McEwen even got a death threat. But the new owner knew that the mine had potential. "The Red Lake gold district had 2 operating gold mines and 13 former mines that had produced more than 18 million ounces combined," he says. "The mine next door had produced about 10 million ounces. Ours had produced only 3 million."
McEwen believed that the high-grade ore that ran through the neighboring mine was present in parts of the 55,000-acre Red Lake stake -- if only he could find it. His strategy began to take shape at a seminar at MIT in 1999. Company presidents from around the world had come there to learn about advances in information technology. Eventually, the group's attention turned to the Linux operating system and the open-source revolution. "I said, 'Open-source code! That's what I want!' " McEwen recalls.
His reasoning: If he could attract the attention of world-class talent to the problem of finding more gold in Red Lake, just as Linux managed to attract world-class programmers to the cause of better software, he could tap into thousands of minds that he wouldn't normally have access to. He could also speed up exploration and improve his odds of discovery.
At first, Goldcorp's geologists were appalled at the idea of exposing their super-secret data to the world. "This is a very conservative, very private industry," says Dr. James M. Franklin, former chief geoscientist for the Geological Survey of Canada and a judge in the Goldcorp Challenge. "Confidentiality and secrecy about reserves and exploration have been its watchwords. This was a totally unconventional thing to do."
But in March 2000, at an industry meeting, McEwen unveiled the Goldcorp Challenge. The external response was immediate. More than 1,400 scientists, engineers, and geologists from 50 countries downloaded the company's data and started their virtual exploration. When the entries started coming in, the panel of five judges was astonished by the creativity of the submissions. The top winner was a collaboration by two groups in Australia: Fractal Graphics, in West Perth, and Taylor Wall & Associates, in Queensland, which together had developed a powerful 3-D graphical depiction of the mine.
12next ›last
http://www.fastcompany.com/magazine/59/mcewen.html
He Struck Gold on the Net (Really)
By: Linda TischlerMay 31, 2002
Rob McEwen owned an underperforming gold mine in northwestern Ontario, and he needed new ideas about where to dig. So he broke new ground -- and made data on the mine available online to anyone who wanted to help. Eureka! The Internet gold rush was on.
For McEwen, the contest itself was a gold mine. "We have drilled four of the winners' top five targets and have hit on all four," he says. "But what's really important is that from a remote site, the winners were able to analyze a database and generate targets without ever visiting the property. It's clear that this is part of the future."
Between the new high-grade discoveries and the mine's modernized facilities, Red Lake is finally performing along the lines that McEwen had envisioned. In 1996, Red Lake was producing at an annual rate of 53,000 ounces at $360 an ounce. By 2001, the mine was producing 504,000 ounces at $59 an ounce. On the open market, gold currently trades for about $307 an ounce. The grade of the ore at McEwen's mine is extraordinarily high, confirming his suspicion that the vein that ran through the neighboring mine continues through Red Lake.
For McEwen, whose passion for gold is evident from the 82-pound sample rock containing 300 ounces of gold that he displays in his office and the dazzling gold, diamond, and lapis wedding ring that he sports on his finger, it doesn't get much better than this. "When you first pick up a piece of gold and hold it in your hand, when you feel the weight and see the luster, you feel like this is something special," McEwen says. "It's different than mining coal."
Contact Rob McEwen by email (rrmcewen@attglobal.net). To learn more about all of the Fast 50 winners, click here.
Sidebar: Nuggets of Wisdom
Red Lake, Ontario and West Perth, Australia are at opposite ends of the earth. But that didn't stop Nick Archibald and his team of geologists at Fractal Graphics, an Australian geoscience consulting firm, from thinking that they could find gold in Canada.
First-place winners of the 2001 Goldcorp Challenge, Archibald and his mates shared a grand prize of $105,000 for their presentation detailing likely targets for finding gold. "I'd never been to the mine," Archibald says. "I'd never even been to Canada."
But when he learned of the contest, Archibald recognized an opportunity for his company, which specializes in the production of 3-D models of mines. The prize money was appealing, but Archibald knew that winning would give a boost to his own hopes for expansion funds as well. "Our industry has been going through a hard time," he says. "We had been trying to raise venture capital. Any positive news could only be a big help for us."
Although the prize money, which Archibald's team shared with Taylor Wall & Associates, barely covered the cost of the project, the publicity has boosted the firm's business. "It would have taken us years to get the recognition in North America that this project gave us overnight," he says.
More important, Archibald adds, the Challenge has opened the industry's eyes to a new way of doing exploration. "This has been a big change for mining," he says. "This has been like a beacon in a sea of darkness."
Red Lake Gold Mine
RED LAKE
The Red Lake Gold Mine is composed of two operating complexes:
the Red Lake Complex and the Campbell Complex.
Red Lake Gold mine is Canada’s largest gold mine,
and in 2009 produced 623,000 ounces at a cash cost of $288/oz.
It is also one of the world’s richest gold mines
and lowest cost producers.
http://www.goldcorp.com/operations/red_lake_mine/
Conquest Commences Drilling from Goldcorp Red Lake Mine Property
Conquest Appoints Vice President of Exploration
Apr. 14, 2011 (Marketwire Canada) --
TORONTO, ONTARIO --
Conquest Resources Limited
(TSX VENTURE:CQR)is pleased to announce that the Company
has commenced drilling from Goldcorp's Red Lake Gold Mines Ltd.
("Goldcorp") mine property located next to Conquest's 100% owned
Alexander Property in Red Lake, Ontario.
Drilling with a second drill rig is underway on the initial 1,600
metre deep hole, CR-11-047, designed to test Balmer Assemblage
basalts which occur under the western corner of the Alexander
claim block.
The hole will be maintained for subsequent wedging following
the drilling of the parent hole expected during June.
Conquest has collared hole CR-11-047 from surface approximately
175 metres from the south western corner of the Alexander
Property boundary where an estimated 800 metres of drilling
in the upper portion of the hole will take place on Goldcorp's
property and the remaining lower portion will be on Conquest's
Alexander Property.
Conquest and Goldcorp will mutually benefit from the information
obtained through drilling.
No formal agreement or interest in the Alexander Property
has been assigned to Goldcorp.
SULPHIDE SHEAR ZONE DRILLING
The first drill hole (CR-11-044) was completed to a total hole
depth of 1,365 metres.
The hole was designed to target the deep extension of the
Sulphide Shear Zone which is known to exist on surface over
a true-thickness of 7-metres within the Balmer Assemblage.
A sheared zone of sulphide mineralization and quartz-carbonate
alteration was intersected at a vertical depth of 1,115 metres.
Several gold bearing intrusives between 480 and 900 metres
vertically were found to contain 1.49 grams per tonne (gpt)
gold over 1.17 metres, 0.51 gpt gold over 1.20 metres,
and 0.57 gpt gold over 1.12 metres of drill core.
Sampling from the sheared and sulphide mineralized zone did
not contain significant gold mineralization. The hole was
completed in Bruce Channel Formation metasediments.
The second hole (CR-11-045) was collared 150 metres to the
grid west and 260 metres to the grid north of CR-11-044.
The hole was completed to a depth of 909 metres.
A gold mineralized intermediate intrusive in the footwall
stratigraphy to the targeted extension of the Sulphide Shear
Zone returned 0.50 gpt over 5.45 metres, including 1.09 over
0.95 metres of drill core.
The hole was completed in Bruce Channel Formation metasediments.
The Sulphide Shear Zone was not intersected.
Interpretation of the core and local geology suggests that
the Sulphide Shear Zone has been offset by north-south
oriented faulting.
A third hole (CR-11-046) is currently being drilled to a
planned depth of 1,100 metres between CR-11-044 and -045
to follow up the extension of the Sulphide Shear Zone.
CONQUEST APPOINTS VICE PRESIDENT EXPLORATION
Conquest is pleased to announce the appointment of
Mr. Benjamin Batson (P. Geo) to the position of Vice President
Exploration of the Company.
Mr. Batson has worked with Conquest since 2009 as Exploration
Manager directing the Company's exploration program at Red Lake.
As a Professional Geologist and graduate of Geological
Engineering (Queen's University), Mr. Batson provides a strong
technical background and possesses a broad knowledge base of
the exploration and mining business in North America.
Mr. Batson will continue to focus the Company's efforts at
Red Lake, Ontario while also pursuing corporate development
opportunities in other favorable gold mining districts in
North America.
ABOUT THE ALEXANDER GOLD PROJECT
Conquest's Alexander Property lies immediately east of Goldcorp
Inc.'s Red Lake and Campbell mines in the heart of
the Red Lake Gold Camp on the important "Mine Trend"
regional structure and is almost completely surrounded
by Goldcorp's land holdings.
The Red Lake Mining District has produced in excess of
25 million ounces of gold over the past 60 years.
The important Balmer Assemblage volcanic rocks, which host
the majority of gold produced from the Red Lake greenstone belt,
and the adjacent Bruce Channel Formation metasedimentary rocks,
which host some of the new gold discoveries at Red Lake,
have been identified on the Alexander Property.
These prospective host rocks lie within the Red Lake Mine Trend
structural corridor which extends southeast from Goldcorp's
two gold mines on to and across the Conquest Alexander Property.
Many of the regional structures that have associated gold
mineralization in the area of the two producing gold mines
at Red Lake extend eastwards on to the Alexander Property.
For 2011, Conquest plans to conduct 15,000 metres of diamond
drilling in subsequent phases of exploration on
the Alexander Property.
The focus is to continue systematic drilling to test the Balmer
Assemblage stratigraphy in structures extending from the
adjacent Red Lake Mine (Goldcorp) within volcanic lithologies
below the 700 metre level under the western and central
portions of the Alexander Property.
QUALIFIED PERSON
Information of a scientific or technical nature contained in
this release has been prepared by or under the supervision
of Terence McKillen, P.Geo., the Chief Executive Officer of
the Company and a Qualified Person within the meaning of
National Instrument 43-101 of the Canadian Securities
Administrators.
Samples are analyzed by AGAT Laboratories in Mississauga, Ontario
using a 50 gram pulp fire assay technique with ICP-OES finish.
Conquest employs the use of standards, blanks, and duplicate
samples to maintain confidence in the analytical techniques
used to determine gold content in its core.
Fifteen percent of the samples submitted to the laboratory
comprise samples used for quality assurance and control for
gold content.
AGAT also employ the use standards, blanks and duplicate
samples to calibrate on a regular basis within batches.
ABOUT THE COMPANY
Conquest and Detour Gold Corporation ("Detour Gold")
are exploring for structurally-hosted gold mineralization
under a joint-venture agreement at the Sunday Lake property
located along the Sunday Lake Deformation Zone
approximately seven kilometres east of Detour Gold's
14.9 million ounce proposed open pit gold mine.
Detour Gold, as operator, has agreed to expend $1,000,000 on
exploration prior to September 30, 2014 to earn a 50% interest
in the Sunday Lake Property. Drilling is currently underway
by Detour Gold.
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.
Conquest holds 100,000 shares of Detour Gold Corporation.
There are currently 95,477,728 shares of Conquest issued
and outstanding.
This news release may include certain "forward-looking
statements". All statements other than ---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.
Conquest Resources Limited
President & CEO
647-728-4126
Conquest Resources Limited
Vice-President Investor Relations
604-984-8633
Conquest Resources Limited
Chairman
416-362-6686
info@conquestresources.net
http://www.conquestresources.net
NWO Elites Au $3000 & Ag $100+++ 1st target -
Gold $3000/oz Lindsey Williams on Goldseek
Gold on a buy signal
Fiat poncy scheme on a sell signal -
Who Would Sell Gold Or Silver Now?
Jeff Berwick, The Dollar Vigilante
7 April 2011
Mainstream media, the majority of the public and value investors all believe that the precious metals are in a bubble. But that is because they do not understand the foundations underpinning a move into hard assets.
In this regard there are two camps:
The camp who believes that we live in a grand new world where governments can centrally plan economies better than the free market itself and where acceptance of government-sponsored, unbacked fiat paper monies is just a normal, unquestioned part of life.
The camp who sees central banks as being artificial and dangerous and who are quite surprised that this era of unbacked fiat currencies has lasted this long (nearly 40 years since the "Nixon Shock" on August 15, 1971)
Those in Camp #1 will never buy precious metals until it is already too late and the fiat currencies have all collapsed.
Those in Camp #2 will never sell their precious metals until they see an indication that the unpayable debts and deficits of the majority of western nations have reached a resolution - either by default (bankruptcy of the nations) or by hyperinflation (bankruptcy of the currency).
Which brings about an interesting state of affairs. Unlike any and every other bubble in the history of mankind, the holders of precious metals will not sell their holdings for fiat currency, at any price.
They may sell their precious metals to buy another asset which they deem as being undervalued in terms of gold or silver - which may mean they sell their precious metals, briefly, for fiat currency but then quickly sell that fiat currency in favor of another asset.
But for those who own precious metals for safety and/or profit against the assured demise of the global financial system there is no price at which they would sell their precious metals in favor of fiat currency.
Of course if someone offered you $10,000 per ounce today for your gold you would be crazy not to accept it. However, most holders of gold would sell at $10,000 and then immediately sell the fiat currency and repurchase the gold at the current market price near $1,400 to buy even more gold.
However, the great majority of people who hold precious metals as a hedge against the destruction of the US dollar reserve based financial system will never sell their precious metals, at market price, until they see a resolution of the debts of the western nations.
GOLD/SILVER SHORTAGES
This amazing scenario is playing out as we speak.
Reports have been coming in from all corners of the world over the last few months stating shortages in physical gold and silver bullion.
The operating capacity of domestic gold refineries in India have reached very low levels due to scarcity of scrap. Currently domestic gold refineries are operating between 25-30% of their installed capacity as against 35-40% around the same time last year. According to Ajay Mitra of the India and Middle East office of the World Gold Council, "Used gold sales have declined steadily in the last one year as consumers are holding jewellery in anticipation of higher prices."
They aren't so much anticipating "higher prices" of gold & silver as they are anticipating "lower prices" in their fiat currency. Until there is any indication that the ongoing, systematic destruction of fiat currencies worldwide will cease then there is no reason for anyone to sell their precious metals in favor of holding the fiat currencies.
Canada's biggest bullion bank, ScotiaMocatta "sold out" of all its silver coins and bars in January. They have apparently sourced some new supply of silver coins but as of the time of writing they still show 100 oz. Silver Bars as being "sold out".
Eric Sprott, one of the smartest men in the precious metals business stated that he expects gold to hit $2,150 and silver to hit $50 this year citing extreme shortages and great challenges to secure 15 million ounces of silver for his fund. He stated that "no supply exists in volume except from the margin of immediate producer output".
MOVE INTO BULLION AND PRODUCERS THIS YEAR
Up until this year it has been relatively safe to "play" in things such as gold/silver ETFs, futures and other "paper" assets. TDV believes that 2011 will be the last year in which it is still relatively easy to find and purchase gold/silver bullion and that those who have not yet begun to do so consider making this move immediately.
TDV issued a Special Report to subscribers entitled "How to Own Gold" on November 8, 2010 which includes more specific details on how and why to move into bullion products.
As well, as Eric Sprott pointed out above, one of the only liquid sources of gold and silver bullion now and in the future may be actual producers. The TDV Portfolio available to subscribers contains numerous large, mid and small cap producers. These equities may rise exponentially if it becomes clearer to the public that they are one of the only sources of accessible bullion available on the market.
Remember to diversify geographically to reduce political risk. We attempt to include miners from different parts of the world as part of this strategy.
Nice time to buy here bottom fishing Au safety bargain
RE:
CQR VALUATION: the Gold former production properties in Zimbabwe
fair market valuation should alone be higher than
CQR total Market Cap: 13,016,882 million
E.g.,
Beehive and Babs Gold Mines, Midlands Goldfield
Project Overview
The Babs & Beehive Mines are former gold production properties
situated respectively about 10km north and 30km northwest
of Kwe Kwe.
The mines were developed by African Gold PLC of London between
1997 and 1998 at a cost of approximately $4.5 million
and operated for nine months before being placed on care and
maintenance in early 1999 as a result of falling gold prices
and increasing costs in Zimbabwean currency.
The inferred mineral resource for both mines is 360,000 tonnes at
a grade of 5.7g m/t gold.
A further open pit potential of 400,000 tonnes of low grade mineralisation
may be amenable to heap leach gold extraction.
The mines are considered to have excellent upside for
additional reserves to be delineated following
completion of drilling and underground development programmes.
As part of the acquisition Conquest acquired a 300 tonne per day
processing plant located
at the Beehive mine site which was constructed in 1998.
http://www.conquestresources.net/project_details.php?pid=7&s=o
E.g,
Piper Moss Gold Project, Midlands Goldfield
Project Overview
The Piper Moss Mine is a former gold production property
situated just 3km north of and in a similar geological
setting to the Globe & Phoenix Mine,
the second largest gold producer in Zimbabwe's history
(over 2.3 million ounces gold).
The Moss vein from which mostof the past production of 163,200 ounces
(520,000 tonnes at 10.8 g m/t gold) was derived can be traced
for over 1,200 metres and is up to 2m wide inplaces.
The deposit was formerly accessed on 14 levels
by two shafts and byover 10,670 metres of lateral
development.
Other production came fromthe Sinola and Spur veins.
Several other mineralized structures occur parallel to
the Moss vein and contain ore grade values.
The New Reef isup to 1.5m thick and contains ore grade
gold values (average 19.9gm/t).
Potential exists for further gold reserves tobe delineated
within the Moss vein system as well
as in parallel andcross-cutting veins.
Over 30 present and past producting gold mines are located
within 10 km radius of the property.
Conquest has identified a number of other gold procuction
properties in the immediate area for acquisition.
Conquest plans to evaluate the potential to retreat
approximately 500,000 tonnes of tailings
and other surface stockpiles on the property
by a vat leaching process
and will undertake a comprehensive reevaluation of
the primary gold potential through surface and underground
exploration.
http://www.conquestresources.net/project_details.php?pid=9&s=o
The above Gold Mines should be restarted by CQR with todays Gold
price above $1,400.- per ounce a.s.a.p.!!!
Its a shame that they haven't been restarted yet?
Thanks for the heads up on that Bob - nice time to buy here IMO!
Kiwi
CQR SChart TA TI P&F Alert Bullish Price
1st Target Objective fiat$.69 per share -
Note.,
P&F Point and Figure TI technical indicator is said to be
the oldest TI and the most reliabel TI indicator
GOLD SChart TA TI P&F Bullish Price
1st Target Objective $1716.48 per ounce
Let the Gold long term trend be your friend
Conquest Commences Drilling At Alexander Sulphide Shear Zone
In Red Lake
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59638695
Detour Gold Commences Drilling Program at Conquest's Sunday Lake Property
Mar. 7, 2011 (Marketwire Canada) --
TORONTO, ONTARIO --
Conquest Resources Limited
(TSX VENTURE: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 ---- 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.
Conquest Resources Limited
President & CEO
647-728-4126
Conquest Resources Limited
Vice-President
604-984-8633
Conquest Resources Limited
Chairman
416-362-6686
info@conquestresources.net
http://www.conquestresources.net
http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf
http://tmx.quotemedia.com/article.php?newsid=38250525&qm_symbol=CQR
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
Detour Gold Commences Drilling Program at Conquest's Sunday Lake Property
Mar. 7, 2011 (Marketwire Canada) --
TORONTO, ONTARIO --
Conquest Resources Limited
(TSX VENTURE: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 ---- 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.
Conquest Resources Limited
President & CEO
647-728-4126
Conquest Resources Limited
Vice-President
604-984-8633
Conquest Resources Limited
Chairman
416-362-6686
info@conquestresources.net
http://www.conquestresources.net
http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf
http://tmx.quotemedia.com/article.php?newsid=38250525&qm_symbol=CQR
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
Conquest Commences Drilling At Alexander Sulphide Shear Zone In Red Lake
TORONTO, ONTARIO, Feb. 7, 2011 (Marketwire) --
Conquest Resources Limited
(TSX VENTURE:CQR) is pleased to announce the commencement
of drilling at its 100% owned Alexander Property in Red Lake,
Ontario.
The 2011 Exploration Program will comprise approximately 15,000 metres
of NQ-sized drilling in five parent drill holes with additional
wedge holes under the central and western portions of the
Alexander Property.
Drilling will target favorable sheared Balmer Assemblage units
which are host to the adjacent Goldcorp Red Lake Gold Mines.
The first drill hole of the program (CR-11-044) has been collared
in a steeply dipping northerly direction under the central
portion of the Alexander Property.
The drill hole has been designed to intersect the down dip
extension of the Sulphide Shear Zone at approximately 1,000
metres vertical depth.
During the 2010 Exploration Program, trenching revealed a 7-metre
true thickness zone of intense shearing that contained extensive
sulphide mineralization and strong quartz carbonate alteration
known as the Sulphide Shear Zone.
Detailed structural mapping of this zone identified steeply
dipping sulphide stringer mineralization within a shear zone.
Elevated gold values of 300 to 400 parts-per-billion (ppb) were
obtained from within the Sulphide Shear Zone channel sampling
on surface (See Press Release dated September 27, 2010). Subsequent drilling during 2010 intersected further elevated
values in the shear zone at 80 to 180 metres vertical depth
which has provided encouragement to undertake further drilling
to locate the source of the anomalous gold in the shear system.
Conquest intends to investigate the extension of its Sulphide
Shear Zone along strike and at depth with the initial drilling
in its 2011 Exploration Drilling Program.
During 2010, Conquest completed 9,030 metres of drilling from
March through November comprising two deep parent holes and
three wedge holes for a total of 7,755 metres of drilling,
under the western portion of the Alexander Property, and three
drill holes totaling 1,275 metres of shallow drilling under
the Sulphide Shear Zone.
Conquest has contracted Boart Longyear Canada for its drilling
services on the project.
QUALIFIED PERSON
Information of a scientific or technical nature contained in this release has been prepared by or under the supervision of Terence McKillen, P.Geo., the Chief Executive Officer of the Corporation and a Qualified Person within the meaning of National Instrument 43-101 of the Canadian Securities Administrators.
ABOUT THE COMPANY
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.
Conquest and Detour Gold Corporation ("Detour Gold") are
exploring for structurally-hosted gold mineralization under
a joint-venture agreement at
the Sunday Lake property
located along the Sunday Lake Deformation Zone approximately
seven kilometres east of Detour Gold's 14.9 million ounce
proposed open pit gold mine.
Detour Gold, as operator, has agreed to expend $1,000,000 on
exploration prior to September 30, 2014 to earn a 50% interest
in the Sunday Lake Property.
Conquest holds 100,000 shares of Detour Gold Corporation.
There are currently 95,477,728 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.
Conquest Resources Limited
President & CEO
647-728-4126
Conquest Resources Limited
Vice-President
604-984-8633
Conquest Resources Limited
Chairman
416-362-6686
info@conquestresources.net
http://www.conquestresources.net
http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf
http://tmx.quotemedia.com/article.php?newsid=38250525&qm_symbol=CQR
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
Detour Gold’s hike in reserves fuels takeover talk
http://www.theglobeandmail.com/globe-investor/detour-golds-hike-in-reserves-fuels-takeover-talk/article1892302/
Detour Gold’s hike in reserves fuels takeover talk
MARTIN MITTELSTAEDT
From Thursday's Globe and Mail
Published Wednesday, Feb. 02, 2011 6:34PM EST
Last updated Thursday, Feb. 03, 2011 8:30AM ES
Updates
19-01-2011
DETOUR GOLD COMMENCES GEOPHYSICAL SURVEY AT CONQUEST'S SUNDAY LAKE PROPERTY | WINTER DRILL PROGRAM PLANNED FOR SUNDAY LAKE
http://www.conquestresources.net/pdfs/CQR%20Sunday%20Lake%20IP%20DGC_20110118.pdf
http://www.conquestresources.net/
Conquest Announces Private Placement Financing of Up to $3.0 Million
TORONTO, ONTARIO, Dec. 8, 2010 (Marketwire) --
Conquest Resources Limited -
(TSX VENTURE:CQR). Is pleased to announce that it has entered
into an engagement agreement with Northern Securities Inc.,
as lead agent on behalf of a syndicate (the "Agents"),
to raise gross proceeds of up to $3-million in flow-through
shares (the "Offering").
The flow-through shares are priced at $0.22 per share.
Completion of the Offering is subject to certain conditions,
including approval in accordance with applicable securities laws
and the requirements of the TSX Venture Exchange.
The Agents will be paid a commission fee of 7% in cash and
10% in broker warrants exercisable for common shares at $0.22
per share for a period of two years from closing.
The Offering will be made available to accredited investors in
Canada and eligible international investors.
No securities will be offered in the United States of America
or to United States residents.
All securities issued will subject to a hold period of four
months and one day from the date of issue
Closing of the Offering is expected to occur on or about
December 22, 2010.
Exploration on the Alexander Property, Red Lake, Ontario
Proceeds of the Offering will be used to fund ongoing exploration
on Conquest's Alexander Property near Red Lake, Ontario.
Conquest's Alexander Gold Project lies immediately east of
Goldcorp Inc.'s Red Lake and Campbell mines in the heart of
the Red Lake Gold Camp within the important Red Lake "Mine
Trend" and is almost completely surrounded by Goldcorp's land
holdings.
The Red Lake Mining District has produced an excess of 25 million
ounces of gold over the past 60 years.
Conquest plans to conduct 20,000 metres of diamond drilling in
2011 in subsequent phases of exploration on the Alexander
Property.
The focus is to continue the systematic exploration drilling
of structures extending from the adjacent Red Lake Gold Mine
within Balmer Assemblage stratigraphy below the 700 metre level
under the western portion of the Alexander Property and
to further explore a Sulphide Shear Zone located under
the central part of the Property.
In 2010, Conquest completed 9,030 metres of drilling,
including 7,755 metres of deep drilling in five holes under
the western part of the Alexander Property and 1,275 metres
in three holes on the Sulphide Shear Zone.
There are currently 86,838,637 shares of Conquest issued and outstanding.
This news release may include certain "forward-looking statements"-- --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.
Conquest Resources Limited President & CEO 647-728-4126
Conquest Resources Limited Vice-President 604-984-8633
Conquest Resources Limited Chairman 416-362-6686 info@conquestresources.net
http://www.conquestresources.net
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf
http://tmx.quotemedia.com/article.php?newsid=36132629&qm_symbol=CQR
Conquest Reports Profit of $1.845 Million for Third Quarter -
TORONTO, ONTARIO, Nov. 30, 2010 (Marketwire) --
Conquest Resources Limited -
(TSX VENTURE:CQR)
reports that it has filed its unaudited financial statements
and MD&A for the quarter and nine months endedSeptember 30, 2010.
The documents are available under the Company'sprofile at
www.sedar.com and on its website at
http://www.conquestresources.net.
During the quarter, Conquest's exploration activities continued with a focus on continuing exploration drilling
on the Alexander Property at Red Lake, Ontario,
where a total of 8,775 metres of drilling
has been completed in the 2010 program to date.
The Company completed the sale of its Aurora Property
to Detour Gold Corporation ("Detour Gold")
for a total of $4,972,000,
including 100,000 shares of Detour Gold,
realizing a profit of $3,451,557 during the quarter.
In addition, the Company granted Detour Gold an option to acquire a 50% joint venture interest in
the Sunday Lake Property -
Conquest ResourcesLimited -
(TSX VENTURE:CQR)
reports that it has filed its unauditedfinancial statements
and MD&A for the quarter and nine months ended September 30, 2010.
The documents are available under the Company'sprofile at
www.sedar.com and on its website at
http://www.conquestresources.net
During the quarter, Conquest'sexploration activities continued with a focus on continuing exploration drilling
on the Alexander Property at Red Lake, Ontario, where a total of 8,775 metres of drilling
has been completed in the 2010 program to date.
The Company completed the sale of its Aurora Property to
Detour Gold Corporation ("Detour Gold")
for a total of $4,972,000,
including 100,000 shares of Detour Gold,
realizing a profit of $3,451,557 during the quarter.
In addition, the Company granted Detour Gold an option to acquire a 50% joint venture interest in
the Sunday Lake Property
by incurring $1.0 million in exploration expenditures over two years.
For the three and nine month periods ended September 30, 2010,
the Company recorded net income of $1,845,994(
.023 per share)
and $1,668,192 (.021 per share) respectively,
compared to losses of ($217,198) (.003 per share)
and ($526,185)(.008 per share) for the three and nine months periods ended September30, 2009.
Included in the September 30, 2010 income was a gain on the sale of the Aurora property of $3,451,557
and a write down of the KingBay property of $976,204.
The Company had a working capital surplus of $1,222,474 as at September 30, 2010
compared to a surplus of $1,700,190 as at December 31, 2009.
At September 30, 2010, the Companyalso held $3,028,000 in marketable securities,
of which $2,972,000represented the market value of the Company's 100,000 shares of Detour Gold.
Exploration Plans for 2010
The Company's focus in 2010 has concentrated on
the Alexander Property at Red Lake
where the second phase of a planned two year
deep drill program is continuing
and where assays are pending from drilling
of two wedge holes from thesecond parent hole
in the 2010 program.
Conquest plans to conducta further 20,000 metres of diamond drilling in 2011
in subsequentphases of exploration on the Alexander Property.
The focus is to continue systematic drilling to test
the Balmer Assemblage
stratigraphy in untested structures interpreted to extend from
the adjacent Red Lake Mine
(Goldcorp) within volcanic lithologies below the 700 metre level
in the western
and central portions of the Alexander Property.
The estimated cost of the planned 2011 program is $4 million,
of which $2 million is estimated for the initial 10,000 metres
and for which theCompany is adequately financed.
The recent sale of the Company's AuroraProperty to Detour Gold
has given the Company a net liquidity of
approximately $4.4 million,
which included $2 million in cash and
the current value of the 100,000 shares of Detour Gold,
less a $500,000 cashpayment to NVI.
Detour Gold will undertake a $500,000exploration program
on Conquest's Sunday Lake Property
over the next year.
The Sunday Lake Property
is located in the northern AbitibiGreenstone Belt,
7 kilometers east of Detour Gold's
large open pit gold development project.
Detour Gold has recently completed an MMI (MobileMetal Ion)
soil sampling program
on the Sunday Lake property.
A total of 552 samples were collected by Detour Gold
during the soil samplingprogram,
designed to assist in the prioritization of drill targets
for the upcoming winter drill season.
The Company anticipates Detour Gold
will commence a drill program on
the Sunday Lake Property in January 2011.
ABOUT THE COMPANY
Conquest is exploring several gold projects in Ontario.
These include the Alexander Gold Project atRed Lake;
the Sunday Lake property at Detour Lake in joint venture withDetour Cold Corporation;
and the Smith Lake Gold Project at Missanabie.
There are currently 86,838,637 shares of Conquest issued and outstanding.
This news release may include certain "forward-looking statements".-- and from time to time in the filings made by Conquest withsecurities regulators.
Neither the TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy orthe accuracy of this release.
Conquest Resources Limited
President & CEO 647-728-4126
http://www.conquestresources.net
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf
http://tmx.quotemedia.com/article.php?newsid=36132629&qm_symbol=CQR
Canada's Largest Gold Play On The GO ~<
http://www.detourgold.com
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56733841
Conquest Resources L (CQR) fiat$0.19 UP $0.04 +26.67%
Volume: 158,300 @ 3:58:14 PM ET good demand
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DETOUR GOLD COMPLETES SOIL SAMPLING PROGRAM AT SUNDAY LAKE PROPERTY | DRILL PROGRAM PLANNED FOR JANUARY 2011
Release Date: 27-10-2010
Toronto, Ontario - October 27, 2010 |
Conquest Resources Limited -
(TSX-V: "CQR") is pleased to report that Detour Gold Corporation
("Detour Gold") has completed an MMI (Mobile Metal Ion) soil
sampling program on Conquest's Sunday Lake Gold Project,
located 7 kilometers east of Detour Gold's open pit gold
development project in the northern Abitibi Greenstone Belt.
Conquest recently entered into a joint venture with
Detour Gold on Conquest's Sunday Lake Property
(consisting of 13 square kilometers of prospective mineral
leases located along the Sunday Lake Deformation Zone 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.
A total of 552 samples were collected by Detour Gold during the
soil sampling program, designed to assist in the prioritization
of drill targets for the upcoming winter drill season.
Geochemical results from the survey are expected in November 2010.
Conquest anticipates Detour Gold will commence a drill program
on the Sunday Lake Property in January, 2011.
THREE HOLES INTERSECT SULPHIDE SHEAR ZONE OVER 325 METRES STRIKE AT ALEXANDER GOLD PROJECT IN RED LAKE, ONTARIO
Release Date: 27-09-2010
4.64 GRAMS PER TONNE GOLD INTERSECTED OVER 6 METRES IN SULPHIDE SHEAR ZONE AREA
Toronto, Ontario, September 27, 2010 |
Conquest Resources Limited
(TSX-V: ?CQR?) is pleased to announce the completion of 1,275 metres
of drilling in the central portion of its 100% owned
Alexander property at Red Lake
where three drill holes intersected a zone of strongly sheared
and altered Balmer basalt containing strong sulphide
mineralization.
The Company also continues to explore under the western portion
of the property with its ongoing 8,000 metre deep drilling
program.
SULPHIDE SHEAR ZONE DRILLING
The supplemental three-hole program consisted of 1,275 metres of
NQ-sized drilling in the central part of the Alexander Property
located approximately one kilometre east of the ongoing deep
drilling program near the property boundary with Goldcorp.
Three holes, CR-10-041, -042, and -043 were drilled at -60
degrees dip to the north east under the eastern portion of
the Sulphide Shear Zone to respective hole depths of 486, 429,
and 360 metres.
The targeted zone is oriented approximately 120 degrees in
strike, dipping steeply to the south west, and remains untested
in all directions below 225 metres vertical depth.
Holes CR-10-041, -042, and -043 are widely spaced covering up
to 325 metres of strike under the central part of the Alexander
property where several holes drilled by Conquest in 2003 and
2004 tested the upper stratigraphy where the best hole drilled
in 2004 intersected gold mineralization reporting 12 grams per
tonne over 0.43 metres.
In the recent 2010 program, a gold mineralized intrusive was
intersected within the Sulphide Shear Zone hanging wall in
hole CR-10-042 at a vertical depth of 238 metres
containing 4.64 g/t gold over 6.0 metres,
which included 12.67 g/t gold over 1.50 metres.
Holes CR-10-041 and -043 intersected strong sulphide
mineralization hosted in strongly sheared and carbonate-silica-
biotite altered basalts over respective true thickness widths
of 11.6 and 9.2 metres.
Hole CR-10-042 intersected similar mineralization over 4.7
metres true thickness.
Sampling from within the strongly sheared volcanics returned
marginally anomalous gold values generally less than
0.20 g/t over 1.0 metres widths.
The geology intersected in these three holes provides strong
encouragement to undertake follow-up drilling in the open areas
to the west and beneath this shear zone where the interpreted
extension of this zone remains untested and highly prospective.
NEW TRENCHING UNCOVERS SEVEN METRE-WIDE MINERALIZED SHEAR ZONE OVER 80 METRES AT SULPHIDE SHEAR ZONE
In addition to drilling, a new trench was excavated exposing
a 35 x 80 metre window into the surface geology above the area
targeted in drilling at the Sulphide Shear Zone.
A seven metre true-thickness mineralized and strongly carbonate-
silica-biotite altered shear zone was uncovered on strike with
surface mineralization discovered by Conquest in 2003
(Sulphide Shear Zone).
New trenching at the Sulphide Shear Zone has provided a
sizeable exposure for the first time of the detailed structural
relationships and lithological contacts, which are key
components required to understand the geometry and structural
setting of the mineralization found on the Property.
[b]The mineralization and alteration observed in the Sulphide
Zone is similar to those mineralized zones present at
the adjacent Red Lake Mine.
At surface, the uncovered shear zone is intensely oxidized.
Sulphide mineralization is contained within a seven to nine metre
thick, strongly sheared zone oriented at 120 degrees in
azimuth, dipping 65 degrees to the southwest.
The zone contains moderate to steeply dipping, sheared and
folded quartz carbonate veins with pervasive carbonate
and biotite alteration throughout.
Mineralization is dominated by near-solid sulphide pyrrhotite-pyrite sulphide stringers in the hanging-wall within the upper portion of the shear zone where carbonate-biotite-silica-magnetite alteration is the strongest and most oxidized. Mineralization extending into the footwall of the shear zone is dominated by weaker pyrite-arsenopyrite disseminated sulphide mineralization throughout the sheared, silica-biotite altered host basalt.
Channel samples were cut from the trench on a locally
established grid across the entire width of the shear zone.
Samples were fire assayed for gold and then further processed
for a detailed suite of trace elements using ICP methods at
Activation Laboratories in Red Lake and Thunder Bay, Ontario.
Anomalous gold values were returned over the most intensely
oxidized hanging-wall portions of the shear zone in the range of
50 to 200 ppb.
The highest values were found to occur in the footwall of
the shear zone between 300 and 400 ppb gold.
It is believed that the Sulphide Shear Zone is one of several
southwest dipping shear zones containing steeply west
plunging sulphide mineralized chutes.
Similar structures have been found at adjacent mines in
the Red Lake camp to be very strongly correlated to
high grade gold mineralization.
DEEP DRILLING EXPLORATION
The drilling of the second parent hole and subsequent wedging
in the 8,000 metre deep drilling program on the western
portion of the Alexander property is ongoing and will
be completed in November.
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf
http://www.conquestresources.net/news_breaking.php
CONQUEST CLOSES TRANSACTIONS WITH DETOUR GOLD ON PROPERTIES ADJACENT TO DETOUR LAKE GOLD PROJECT
Release Date: 27-09-2010
Toronto, Ontario - September 27, 2010
Conquest Resources Limited -
(TSX-V: "CQR") announces that it has closed previously announced
transactions with Detour Gold Corporation ("Detour Gold") and
with NVI Mining Ltd. ("NVI"), an indirect wholly-owned subsidiary
of Breakwater Resources Ltd. ("Breakwater") relating to
Conquest's Aurora and Sunday Lake properties located in
the Detour Lake area of northeastern Ontario adjacent
to the Detour Lake Gold Project.
Pursuant to these transactions Conquest has:
* acquired from NVI the remaining 40% interest that it did not
already own in the Aurora and Sunday Lake properties,
together with NVI's 2% net smelter royalty interest in such properties,
for $1.0 million which was satisfied through the payment by
Conquest of $500,000 in cash and the issuance to NVI (Breakwater)
of 3,125,000 shares of Conquest; and
o sold to Detour Gold a 100% interest in the Aurora
Property for $2.0 million in cash and 100,000 shares of Detour Gold
and has granted Detour Gold an option to acquire a 50% joint venture
interest in Sunday Lake Property by incurring $1.0 million in
exploration expenditures on the Sunday Lake Property over the next
two years with a minimum of $500,000 prior to September 30, 2011.
The Sunday Lake Property -
lies immediately east of Detour Gold's Detour Lake Project, along
the eastern extension of the Sunday Lake Deformation Zone.
The joint venture option on the Sunday Lake Claims will allow
Detour Gold to further expand its interest in what is believed
to be a prospective area of this relatively under-explored portion
of the Abitibi Greenstone Belt.
The Aurora Property -
lies south of Detour Gold's Detour Lake Project.
Detour Gold is acquiring the Aurora Property to accommodate
the infrastructure requirements for the development of its
Detour Lake mine and to further expand its regional exploration program.
The Aurora Property and the Sunday Lake Property each remain subject
to a 7.5% net profits interest held by Prism Resources Inc. which,
in the case of the Aurora Property, has been assumed by Detour Gold.
COMMENT
"We are very pleased to have concluded these transactions
with Breakwater and Detour Gold which will be beneficial for
all parties," said John Kearney, Chairman of Conquest.
"The deals have resulted in a transaction value to Conquest
of approximately $5.0 million of which $1 million offsets the
acquisition by Conquest from Breakwater of the outstanding 40%
interest and 2% royalty interest in the properties.
We look forward to working with Detour Gold, with its expertise
and extensive geological knowledge and understanding of the area,
to further explore the Sunday Lake Property."
added Mr. Kearney.
About Detour Gold
Detour Gold is a Canadian gold exploration and development company
whose primary focus is to advance the development of its flagship
Detour Lake gold project located in northeastern Ontario towards
production.
ABOUT CONQUEST
Conquest is exploring several gold projects in Ontario.
These include the Alexander Gold Project at Red Lake;
the Aurora and Sunday Lake properties at Detour Lake;
the King Bay Gold Project at Sturgeon Lake (60% interest);
and the Smith Lake Gold Project at Missanabie.
There are 86,838,637 shares of Conquest issued and outstanding
after giving effect to these transactions.
This news release may include certain "forward-looking
statements"---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 more information, please contact
Conquest Resources Limited
Terence N. McKillen
President & CEO
647-728-4126
or
Conquest Resources Limited
John F. Kearney
Chairman
416-362-6686
info@conquestresources.net
http://www.conquestresources.net
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
http://www.conquestresources.net/project_details.php?pid=2&s=o
The Detour Lake deposit is now Canada's largest undeveloped gold reserve
with 11.4 million ounces.
The positive results of the feasibility study confirmed
the Detour Lake deposit as a future significant gold producer
with an average annual gold production of 649,000 ounces over a
mine life of 16 years.
The Company plans to start mine development by late 2010,
subject to obtaining receipt of Provincial permits and
finalizing Aboriginal agreements.
With gold production expected to commence in early 2013,
Detour Lake will be among the largest gold operations
in North America.
Conquest- Au 4.64 Grams Per Tonne Gold Intersected Over 6 Metres
in Sulphide Shear Zone Area
- Three Holes Intersect Sulphide Shear Zone Over 325 Metres Strike
at Alexander Gold Project in Red Lake, Ontario
TORONTO, ONTARIO, Sep 27, 2010 (MARKETWIRE via COMTEX) --
Conquest Resources Limited
(TSX-V:CQR) is pleased to announce the completion of 1,275 metres of drilling
in the central portion of its 100% owned Alexander property at Red Lake
where three drill holes intersected a zone of strongly sheared and altered
Balmer basalt containing strong sulphide mineralization.
The Company also continues to explore under the western portion of the property
with its ongoing 8,000 metre deep drilling program.
SULPHIDE SHEAR ZONE DRILLING
The supplemental three-hole program consisted of 1,275 metres of NQ-sized drilling
in the central part of the Alexander Property located
approximately one kilometre east of the ongoing deep drilling
program near the property boundary with Goldcorp.
Three holes, CR-10-041, -042, and -043 were drilled at -60
degrees dip to the north east under the eastern portion of the
Sulphide Shear Zone to respective hole depths of 486, 429,
and 360 metres.
The targeted zone is oriented approximately 120 degrees in strike,
dipping steeply to the south west, and remains untested in all
directions below 225 metres vertical depth.
Holes CR-10-041, -042, and -043 are widely spaced covering up to
325 metres of strike under the central part of the Alexander
property where several holes drilled by Conquest in 2003 and
2004 tested the upper stratigraphy where the best hole drilled
in 2004 intersected gold mineralization reporting 12 grams per
tonne over 0.43 metres.
In the recent 2010 program, a gold mineralized intrusive was intersected
within the Sulphide Shear Zone hanging wall in hole CR-10-042
at a vertical depth
of 238 metres containing 4.64 g/t gold over 6.0 metres,
which included 12.67 g/t gold over 1.50 metres.
Holes CR-10-041 and -043 intersected strong sulphide mineralization
hosted in strongly sheared and carbonate-silica-biotite altered
basalts over respective true thickness widths of 11.6 and 9.2 metres.
Hole CR-10-042 intersected similar mineralization over 4.7 metres true thickness.
The geology intersected in these three holes provides strong encouragement
to undertake follow-up drilling in the open areas to the west
and beneath this shear zone where the interpreted extension
of this zone remains untested and highly prospective.
NEW TRENCHING UNCOVERS SEVEN METRE-WIDE MINERALIZED SHEAR ZONE
OVER 80 METRES AT SULPHIDE SHEAR ZONE
In addition to drilling, a new trench was excavated exposing a
35 x 80 metre window into the surface geology above the area
targeted in drilling at the Sulphide Shear Zone.
A seven metre true-thickness mineralized and strongly carbonate-silica-biotite
altered shear zone was uncovered on strike with surface mineralization
discovered by Conquest in 2003 (Sulphide Shear Zone).
New trenching at the Sulphide Shear Zone has provided a sizeable exposure
for the first time of the detailed structural relationships and
lithological contacts, which are key components required to
understand the geometry and structural setting of the
mineralization found on the Property.
The mineralization and alteration observed in the Sulphide Shear Zone
is similar to those mineralized zones present at the adjacent Red Lake Mine.
At surface, the uncovered shear zone is intensely oxidized.
Sulphide mineralization is contained within a seven to nine
metre thick, strongly sheared zone oriented at 120 degrees
in azimuth, dipping 65 degrees to the southwest.
The zone contains moderate to steeply dipping, sheared and
folded quartz carbonate veins with pervasive carbonate and
biotite alteration throughout.
Mineralization is dominated by near-solid sulphide pyrrhotite-pyrite
sulphide stringers in the hanging-wall within the upper portion
of the shear zone where carbonate-biotite-silica-magnetite
alteration is the strongest and most oxidized.
Mineralization extending into the footwall of the shear zone
is dominated by weaker pyrite-arsenopyrite disseminated
sulphide mineralization throughout the sheared,
silica-biotite altered host basalt.
Channel samples were cut from the trench on a locally established
grid across the entire width of the shear zone.
Samples were fire assayed for gold and then further processed
for a detailed suite of trace elements using ICP methods at
Activation Laboratories in Red Lake and Thunder Bay, Ontario.
Anomalous gold values were returned over the most intensely
oxidized hanging-wall portions of the shear zone in the range
of 50 to 200 ppb.
The highest values were found to occur in the footwall of
the shear zone between 300 and 400 ppb gold.
It is believed that the Sulphide Shear Zone is one of several
southwest dipping shear zones containing steeply west plunging
sulphide mineralized chutes.
Similar structures have been found at adjacent mines in
the Red Lake camp to be very strongly correlated to
high grade gold mineralization.
DEEP DRILLING EXPLORATION
The drilling of the second parent hole and subsequent wedging
in the 8,000 metre deep drilling program on the western portion
of the Alexander property is ongoing and
will be completed in November.
ABOUT THE ALEXANDER PROPERTY
Conquest's Alexander Gold Project is located in Balmer Township
in the heart of the Red Lake Gold Camp.
The Alexander Property is situated within the "Mine Trend"
adjacent to Goldcorp's Red Lake and Campbell gold mines,
which have historic production and current resources in
excess of 25 million ounces of gold, and approximately 1,000
metres east of the Red Lake No. 1 Shaft headframe and
within 400 metres of the Far East gold zone at the Red Lake Mine.
Many of the regional structures with associated gold
mineralization in the area of Goldcorp's two producing mines
cross on to the Alexander Property.
QUALIFIED PERSON
Information of a scientific or technical nature contained in this
release has been prepared by or under the supervision of
Terence McKillen, P.Geo., the Chief Executive Officer of
the Corporation and a Qualified Person within the meaning
of National Instrument 43-101 of the Canadian Securities
Administrators. Sampled core is being cut in half and shipped
via courier to AGAT Labs in Mississauga for gold fire assay
using a 50 gram charge taken from a representative 200 gram
pulp. Conquest employs the regular use of internal check
standards, blanks, and double splits within its QA/QC program.
ABOUT THE COMPANY
Conquest is exploring several gold projects in Ontario. These include the Alexander Gold Project at Red Lake; the Aurora and Sunday Lake properties at Detour Lake; the King Bay Gold Project at Sturgeon Lake (60% interest); and the Smith Lake Gold Project at Missanabie.
There are currently 83,713,637 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.
Contacts:
Conquest Resources Limited
Terence N. McKillen
President & CEO
647-728-4126
Conquest Resources Limited
John F. Kearney
Chairman
416-362-6686
info@conquestresources.net
http://www.conquestresources.net
SOURCE: Conquest Resources Limited
mailto: info@conquestresources.net
http://www.conquestresources.net/news_breaking.php
Red Lake Gold Mines (RLGM) is composed of two operating complexes:
the Red Lake and the Campbell Complex.
Situated in one of the world's most prolific gold producing regions,
RLGM has produced 20 million ounces since 1949 and it continues to
be one of the highest-grade gold mines and lowest cost producers
in the world.
RLGM is also the largest gold mine in Canada.
The High Grade Zone alone has averaged more than two ounces
of gold per ton.
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
http://www.conquestresources.net/project_details.php?pid=3&s=o
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Detailed CQRLF Stock Quote
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http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
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Detour Gold to spend C$125 on mining support equipment, haulage trucks
Shares in the group rose on the announcement it will buy 18 Caterpillar trucks and various mining support equipment over the next two years for use at its Detour Lake gold mine
Posted:Friday,17 Sep 2010
(Reuters) -
Detour Gold Corp (DGC.TO: Quote)said it will spend C$125 million ($121.7 million) to buy mining support equipment and 18 Caterpillar haulage trucks over the next two years for its Detour Lake gold mine in north eastern Ontario.
With the order, the company has entered into commitments of about
C$304 million for the development of the Detour Lake project over the next 27 months, it said in a statement.
The Detour Lake deposit is Canada's largest pure gold play with
reserves of 11.4 million ounces, according to Detour Gold website. This is about 30 percent higher than its October 2009 estimate of 8.8 million ounces.
The Toronto-based gold explorer is evaluating financing proposals for the equipment purchases, including a proposal from Caterpillar Financial Services Corp, a unit of Caterpillar Inc (CAT.N: Quote).
The company said it expects to finalize the terms and conditions for the financing by October.
Six trucks of the initial purchase are to be delivered in the fourth quarter of 2011, while 12 are to be supplied in the second half of 2012,Detour said.
The company said it signed an agreement with Toromont Industries Ltd (TIH.TO: Quote) for the life of mine requirement of up to 36 Caterpillar haulage trucks.
The company also named Julie Galloway as vice president, general counsel and corporate secretary.
Galloway joins from FNX Mining Co where she was corporate secretary.
Detour shares, which have gained about 26 percent since it raised C$252 million for its Detour Lake project late June, were up 3 percentat C$31.75 in afternoon trade Thursday on the Toronto Stock Exchange.($1=1.027 Canadian Dollar) (Reporting by Gowri Jayakumar in Bangalore; Editing by Gopakumar Warrier)
2010 Deep Drilling Program underway at Alexander (Photo of Longyear 55 deep drill rig)
Conquest holds several advanced stage gold properties in the Province
of Ontario, including the strategically important
Alexander Project, located in the heart of northwestern Ontario's
Red Lake gold mining district.
The Alexander Property is situated immediately to the east of Goldcorp's high grade Red Lake mine at Balmer town and has been independently called "the best located exploration property in the Red Lake Gold Camp."
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
Conquest has one projects located in the Detour Lake gold mining district of the Northern Abitibi Greenstone Belt,
referred to as the Sunday Lake Project -
http://www.conquestresources.net/news_breaking.php
The property is adjacent to the development project of Detour Gold Inc.
who are planning a "Super Open Pit"
to access a reported 13.2 million ounce gold resource.
Conquest Resources L (USOTC:CQRLF)(USD)$0.1807 UP $0.0399 +28.34%
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http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
Conquest Resources Ltd. - Presentation -
(TSX:CQR)(USOTC:CQRLF)
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
The Alexander Property is situated immediately to the east of
Goldcorp's high grade Red Lake mine at Balmertown and has been
independently called "the best located exploration property
in the Red Lake Gold Camp."
2010 Deep Drilling Program underway at Alexander
(Photo of Longyear 55 deep drill rig)
Conquest Resources L (TSX:CQR)(USD)$0.17 UP $0.01 (+6.25%
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Conquest Amends Agreement With Detour Gold Corporation on Conquest's Properties Adjacent to Detour Lake Gold Project
TORONTO, ONTARIO--(Marketwire - Aug. 10, 2010) - Conquest Resources Limited (TSX VENTURE:CQR) announces that it has amended a previously executed letter agreement with Detour Gold Corporation ("Detour Gold") pursuant to which Detour Gold will purchase Conquest's interest in the Aurora Property and will have an option to acquire a 50% interest in Conquest's Sunday Lake Property.
Conquest has now entered into a separate agreement with NVI Mining Ltd. ("NVI"), an indirect wholly-owned subsidiary of Breakwater Resources Ltd., to purchase the remaining 40% interest that it does not already own in the Aurora and Sunday Lake properties located in the Detour Lake area, Ontario and to purchase the 2% net smelter royalty interest therein held by NVI. The consideration for the acquisition from NVI is $1.0 million to be satisfied through the payment by Conquest of $500,000 in cash and the issuance, subject to regulatory approval, of 3,125,000 shares of Conquest.
Under the amended agreement with Detour Gold, Conquest will convey to Detour Gold, subject to regulatory and other approvals, a 100% undivided interest in the Aurora Property free and clear of the 2% net smelter royalty. The consideration has been amended to a cash consideration of $2.0 million, rather than $1.0 million, to reflect that at the time of Detour Gold's acquisition from Conquest the Aurora Property and the Sunday Lake Property will not be subject to the 2% net smelter royalty and that Detour Gold will not be obligated to incur any exploration expenditures other than the Sunday Lake Expenditures (as defined below). The consideration will still include the issuance, subject to regulatory approval, of 100,000 shares of Detour Gold to Conquest. In addition, Detour Gold will have an option to acquire a 50% joint venture interest in the Sunday Lake Property by completing $1.0 million in exploration expenditures on the Sunday Lake Property (the "Sunday Lake Expenditures") over the next two years with a minimum of $500,000 prior to August 31, 2011. The Aurora Property and the Sunday Lake Property each remain subject to an interest held by Prism Resources Inc. equal to 7.5% of the net profits from the properties.
The Sunday Lake Property lies immediately east of Detour Gold's Detour Lake Project, along the eastern extension of the Sunday Lake Deformation Zone, in what is believed to be a prospective area of this relatively under-explored part of the Abitibi Greenstone Belt.
The Aurora Property lies south of Detour Gold's Detour Lake Project. Detour Gold is acquiring the Aurora Property to accommodate the infrastructure requirements for the development of its Detour Lake mine.
COMMENT
"We are very pleased to have reached an agreement with Breakwater and a revised agreement with Detour Gold which will be beneficial for all parties," said Terence McKillen, President and Chief Executive of Conquest. "The amended agreement will result in a transaction value to Conquest of approximately $4 million of which $1 million will offset the acquisition by Conquest from Breakwater of the 40% interest in the properties that it did not previously own as well as the purchase of the outstanding royalty interest. In addition, as part of the agreement, Detour Gold will expend a minimum of $1 million on the Sunday Lake Property over a two year period with a minimum of $500,000 per year. Detour Gold's geological knowledge and expertise in the area will be invaluable in the future exploration on the Sunday Lake Property," added Mr. McKillen.
ABOUT THE COMPANY
Conquest is exploring several gold projects in Ontario. These include the Alexander Gold Project at Red Lake; the Aurora and Sunday Lake properties at Detour Lake; the King Bay Gold Project at Sturgeon Lake (60% interest); and the Smith Lake Gold Project at Missanabie.
There are 83,713,637 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 more information, please contact
Conquest Resources Limited
Terence N. McKillen
President & CEO
647-728-4126
or
Conquest Resources Limited
D. Brett Whitelaw
Vice-President
604-662-8633
or
Conquest Resources Limited
John F. Kearney
Chairman
416-362-6686
info@conquestresources.net
http://www.conquestresources.net
http://www.marketwire.com/press-release/Conquest-Amends-Agreement-With-Detour-Gold-Corporation-on-Conquests-Properties-Adjacent-TSX-VENTURE-CQR-1302858.htm
.
Conquest Amends Agreement With Detour Gold Corporation on Conquest's Properties Adjacent to Detour Lake Gold Project
TORONTO, ONTARIO--(Marketwire - Aug. 10, 2010) -
Conquest Resources Limited -
(TSX VENTURE:CQR) announces that it has amended a previously
executed letter agreement with Detour Gold Corporation
("Detour Gold") pursuant to which Detour Gold will purchase
Conquest's interest in the Aurora Property and will have
an option to acquire a 50% interest in Conquest's
Sunday Lake Property.
Conquest has now entered into a separate agreement with
NVI Mining Ltd. ("NVI"), an indirect wholly-owned subsidiary of
Breakwater Resources Ltd., to purchase the remaining 40%
interest that it does not already own in the Aurora and
Sunday Lake properties located in the Detour Lake area, Ontario
and to purchase the 2% net smelter royalty interest therein
held by NVI.
The consideration for the acquisition from NVI is
$1.0 million to be satisfied through the payment by Conquest
of $500,000 in cash and the issuance, subject to regulatory
approval, of 3,125,000 shares of Conquest.
Under the amended agreement with Detour Gold,
Conquest will convey to Detour Gold, subject to regulatory
and other approvals, a 100% undivided interest in the Aurora
Property free and clear of the 2% net smelter royalty.
The consideration has been amended to a cash consideration of
$2.0 million, rather than $1.0 million, to reflect that at
the time of Detour Gold's acquisition from Conquest the
Aurora Property and the Sunday Lake Property will not be
subject to the 2% net smelter royalty and that Detour Gold
will not be obligated to incur any exploration expenditures
other than the Sunday Lake Expenditures (as defined below).
The consideration will still include the issuance, subject
to regulatory approval, of 100,000 shares of Detour Gold
to Conquest.
In addition, Detour Gold will have an option to acquire a
50% joint venture interest in the Sunday Lake Property by
completing $1.0 million in exploration expenditures on
the Sunday Lake Property (the "Sunday Lake Expenditures")
over the next two years with a minimum of $500,000 prior
to August 31, 2011.
The Aurora Property and the Sunday Lake Property each
remain subject to an interest held by Prism Resources Inc.
equal to 7.5% of the net profits from the properties.
The Sunday Lake Property lies immediately east of
Detour Gold's Detour Lake Project, along the eastern extension
of the Sunday Lake Deformation Zone, in what is believed to be
a prospective area of this relatively under-explored part
of the Abitibi Greenstone Belt.
The Aurora Property lies south of Detour Gold's Detour Lake Project.
Detour Gold is acquiring the Aurora Property to accommodate
the infrastructure requirements for the development of its
Detour Lake mine.
COMMENT
"We are very pleased to have reached an agreement with Breakwater and a revised agreement with Detour Gold which will be beneficial for all parties," said Terence McKillen, President and Chief Executive of Conquest.
"The amended agreement will result in a transaction value
to Conquest of approximately $4 million of which $1 million
will offset the acquisition by Conquest from Breakwater of
the 40% interest in the properties that it did not previously
own as well as the purchase of the outstanding royalty interest.
In addition, as part of the agreement, Detour Gold will expend
a minimum of $1 million on the Sunday Lake Property over a
two year period with a minimum of $500,000 per year.
Detour Gold's geological knowledge and expertise in the area
will be invaluable in the future exploration on
the Sunday Lake Property," added Mr. McKillen.
ABOUT THE COMPANY
Conquest is exploring several gold projects in Ontario.
These include the Alexander Gold Project at Red Lake;
the Aurora and Sunday Lake properties at Detour Lake;
the King Bay Gold Project at Sturgeon Lake (60% interest);
and the Smith Lake Gold Project at Missanabie.
There are 83,713,637 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 more information, please contact
Conquest Resources Limited
Terence N. McKillen
President & CEO
647-728-4126 begin_of_the_skype_highlighting 647-728-4126 end_of_the_skype_highlighting begin_of_the_skype_highlighting 647-728-4126 end_of_the_skype_highlighting
or
Conquest Resources Limited
D. Brett Whitelaw
Vice-President
604-662-8633
or
Conquest Resources Limited
John F. Kearney
Chairman
416-362-6686
info@conquestresources.net
http://www.conquestresources.net
http://www.marketwire.com/press-release/Conquest-Amend[img]s-Agre[img]ement-With-Detour-Gold-Corporation-on-Conquests-Properties-Adjacent-TSX-VENTURE-CQR-1302858.htm
Hunter, I have been into GG from the beginning -
I had a lot of patience from the beginning -
and will never regret it
the Alexander property is my new virgin golden baby
the most prime Au location
http://www.goldcorp.com/operations/red_lake_mine/
http://www.goldcorp.com/operations/red_lake_mine/location/
http://www.goldcorp.com/operations/red_lake_mine/mining/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50684168
nice to be an Au earlybird
God Bless
Conquest Resources L (USOTC:CQRLF)
Last Price (USD) $0.1475
Change $0.0295 (25.00%
Bid -
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Volume 14,000
Days Range 0.118 - 0.1475
Last Trade 7/19/2010 12:53:52 PM
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
Conquest Resources Limited: First Deep Hole Completed at Alexander Gold Project
TORONTO, ONTARIO--(Marketwire - May 27, 2010) - Conquest Resources Limited (TSX VENTURE:CQR) reports the completion of the first "parent hole" in the deep drilling program at its 100% owned Alexander Gold Project in Red Lake, Ontario which is located within 1,000 metres of the Goldcorp Inc. Red Lake Gold Mine Complex in Balmertown.
During February 2010, Conquest commenced a deep drilling program which consists of approximately 8,000 metres of NQ sized surface drilling with a series of three deep parent holes and approximately eight wedged holes.
The first hole in the deep drill program, CR-10-039, was collared in a steeply dipping northeast direction from the southwest corner of the Alexander Property and was completed in 75 days of drilling to a hole depth of 2,084 metres. This hole is the deepest drilled on the property to date.
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.
Terence McKillen, President and CEO, commenting on the ongoing exploration stating "We are pleased that the first deep hole has intersected similar structures and alteration within the same geological formations which host one of the North America's richest gold deposits The location and geometries of these targeted shear zones provide critical information at depth where information was previously only inferred from shallow drilling in the upper 700 metres of the Balmer volcanics. This first parent hole is now being used for subsequent wedging and the program is on track and on budget."
WEDGING IN THE PARENT HOLE CR-10-039
The first wedge hole was started at a hole depth of 320 metres. Two primary targets have been identified for this wedge hole. The first is a sheared and altered structure in the Balmer volcanics and the second is a broad, 400 metre thick horizon of locally sheared and brecciated sediments below the Balmer Assemblage belonging to the Bruce Channel Formation which was discovered in the drilling of the parent hole, CR-10-039.
ABOUT THE ALEXANDER PROPERTY
Conquest's Alexander Gold Project is located in Balmer Township in the heart of the Red Lake Gold Camp. The Alexander Property is situated within the "Mine Trend" adjacent to Goldcorp's Red Lake and Campbell gold mines, which have historic production and current resources in excess of 25 million ounces of gold, and approximately 1,000 metres east of the Red Lake No. 1 Shaft headframe and within 400 metres of the Far East gold zone at the Red Lake Mine. Many of the regional structures with associated gold mineralization in the area of Goldcorp's two producing mines cross on to the Alexander Property.
QUALIFIED PERSON
Information of a scientific or technical nature contained in this release has been prepared by or under the supervision of Terence McKillen, P.Geo., the Chief Executive Officer of the Corporation and a Qualified Person within the meaning of National Instrument 43-101 of the Canadian Securities Administrators. Sampled core is being cut in half and shipped via courier to AGAT Labs in Mississauga for gold fire assay using a 50 gram charge taken from a representative 200 gram pulp. Conquest employs the regular use of internal check standards, blanks, and double splits within its QA/QC program.
ABOUT THE COMPANY
Conquest is exploring several gold projects in Ontario. These include the Alexander Gold Project at Red Lake; the Aurora and Sunday Lake properties at Detour Lake; the King Bay Gold Project at Sturgeon Lake (60% interest); and the Smith Lake Gold Project at Missanabie.
There are 83,713,637 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 more information, please contact
Conquest Resources Limited
Terence N. McKillen
President & CEO
647-728-4126
or
Conquest Resources Limited
D. Brett Whitelaw
Vice-President
604-662-8633
or
Conquest Resources Limited
John F. Kearney
Chairman
416-362-6686
info@conquestresources.net
www.conquestresources.net
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$CQRLF REWARDING REVIEW WOW RE:The Sudbury Basin: Ontario’s trillion dollar mining camp L
Conquest Closes Over
Subscribed $3,110,000
Subscription Receipt
Financing and $1,300,000
Strategic Investment by
Kirkland Lake Gold
V.CQR, T.KL | 1 hour ago
Toronto, Ontario--(Newsfile Corp. - September 16, 2020) -
Conquest Resources Limited (TSXV: CQR) ("Conquest" or the "Company") is pleased to announce that it has closed its previously announced
non-brokered subscription receipt financing to raise gross proceeds of $3,110,000 (the "Non-Brokered Financing"),
and a separate concurrent subscription receipt financing with Kirkland Lake Gold Ltd. (TSX: KL) (NYSE: KL) (ASX: KLA) to raise gross proceeds of $1,300,000 (the "KL Financing").
John Kearney, Chairman of Conquest stated, "We are very pleased with the strong interest in our financings and, in particular,
we welcome Kirkland Lake as a strategic shareholder.
We look forward to completing the acquisition of Canadian Continental Exploration Corp.,
following which the enlarged Conquest will own a unique and very prospective portfolio of exploration properties in some of the most well-known mining camps in Ontario.
Conquest will be well capitalized with over $5 million in cash and we look forward to beginning our drill program in October."
Kirkland Lake Strategic Investment
In connection with the KL Financing, Conquest has issued 10,000,000 subscription receipts (the "KL Subscription Receipts")
to Kirkland Lake Gold Ltd. ("Kirkland Lake") at a price of $0.13 each to raise gross receipts of $1,300,000. Each KL Subscription Receipt
entitles the holder to acquire one unit of Conquest (a "KL Unit"), for no additional consideration. Each KL Unit consists of one common share of Conquest
(as it exists after giving effect to the previously announced 2.5 for one consolidation of the issued and outstanding Conquest shares (the "Consolidation"))
and one quarter of one share purchase warrant of Conquest.
Each full share purchase warrant (a "Warrant") is exercisable at $0.18 for a period of two years following the completion of Conquest's previously
announced acquisition (the "Acquisition") of Canadian Continental Exploration Corp. ("CCEC"). See Conquest News Releases July 16, 2020, August 7, 2020, and August 27, 2020.
The gross proceeds of the KL Financing have been deposited in escrow (the "KL Escrowed Funds").
The KL Subscription Receipts will automatically convert into KL Units and the KL Escrowed Funds will be released to Conquest upon completion of the
Acquisition and Consolidation (the "Escrow Release Conditions").
In the event that the Escrow Release Conditions are not satisfied by November 30, 2020, the KL Escrowed Funds will be returned to KL and the KL Subscription Receipts will be cancelled.
In connection with the KL Financing, Conquest has granted Kirkland Lake certain investor rights,
so long as Kirkland Lake holds at least 5% of the outstanding shares of Conquest, including the right to nominate one director to the board of Conquest,
the pre-emptive right to participate pro-rata in any future financings by the Company, and a condition that the Company will not encumber any of its properties
with any new third party royalty agreements without the prior written approval of Kirkland Lake, such consent not to be unreasonably withheld.
$3,110,000 Non-Brokered Financing
In connection with the Non-Brokered Financing, Conquest has issued 21,105,266 subscription receipts at a price of $0.12 each
(the "Non-Brokered HD Subscription Receipts"), for gross proceeds of $2,532,631 and 3,880,004 subscription receipts at a price of $0.15 each
(the "Non-Brokered FT Subscription Receipts"), for gross proceeds of $582,000. Each Non-Brokered HD Subscription Receipt entitles the holder
to acquire one unit of Conquest (a "Non-Brokered Unit"), for no additional consideration. Each Non-Brokered Unit consists of one share of Conquest
(as it exists following the Consolidation) and one-half of one Warrant.
Each Non-Brokered FT Subscription Receipt entitles the holder to acquire one flow-through share (an "FT Share")
of Conquest (as it exists after giving effect to the Consolidation, for no additional consideration.
An insider of Conquest subscribed for 200,000 Non-Brokered FT Subscription Receipts for gross proceeds of $30,000.
The gross proceeds of the Non-Brokered Financing have been deposited in escrow (the "Non-Brokered Escrowed Funds").
The Non-Brokered HD Subscription Receipts will automatically convert into Non-Brokered Units, the Non-Brokered FT Subscription Receipts
will automatically convert into FT Shares and the Non-Brokered Escrowed Funds will be released to Conquest upon the satisfaction of the Escrow Release Conditions.
In the event that the Escrow Release Conditions are not satisfied by November 30, 2020, the Non-Brokered Escrowed Funds will be returned to the subscribers
for Non-Brokered HD Subscription Receipts and Non-Brokered FT Subscription Receipts (collectively,
the "Non-Brokered Subscription Receipts") and the Non-Brokered Subscription Receipts will be cancelled.
Upon completion of the Acquisition and conversion of the KL Subscription Receipts into KL Units (the "Escrow Deadline")
and Non-Brokered Subscription Receipts into Non-Brokered Units and FT Shares, Kirkland Lake will hold approximately 8% of Conquest's then outstanding shares,
and 9.6% of Conquest's shares on a partially diluted basis, assuming no further issuances of securities by Conquest prior to such date.
All securities issued and issuable in connection with the KL Financing and the Non-Brokered Financing are subject to a hold period of four months
and one day from the closing date of such financings, expiring on January 9, 2021 and January 16, 2021, respectively.
Finders fees in the total amount of $145,000 cash will be paid to certain arms-length parties for assisting in the Non-Brokered Financing.
PowerOne Capital Markets Limited acted as finder in connection with a portion of the Non-Brokered Financing and has been appointed to
act as a financial advisor to Conquest to provide ongoing financial advisory and consulting services.
Conquest has agreed to grant PowerOne 750,000 stock options under the Company's stock option plan,
each exercisable at a price of $0.13 to acquire one share of Conquest (after giving effect to the Consolidation),
for a period of two years, subject to completion of the Acquisition. PowerOne, an Exempt Market Dealer, is a long-term investor focused
on providing early stage capital and advisory services to emerging growth companies.
Acquisition of Canadian Continental Exploration Corp.
Subject to final acceptance of the TSXV, the Acquisition is expected to close immediately following a special meeting of shareholders of CCEC, scheduled to be held on September 23, 2020.
Pursuant to the Acquisition, Conquest will issue 40,306,667 shares of Conquest (after giving effect to the Consolidation) to the shareholders of CCEC,
on the basis of one share for each share of CCEC held. Conquest will also issue 2,900,000 options (the "Replacement Options"),
under the Company's stock option plan in replacement of existing options currently outstanding in CCEC.
Each Replacement Option will be exercisable at $0.15 to acquire one share of Conquest (after giving effect to the Consolidation) and expire in September 2021.
CCEC holds an extensive package of mining claims and has approximately $900,000 in a combination of cash and marketable securities. See Conquest News Releases July 16, August 7, and August 27, 2020.
Upon completion of the Acquisition, and release of the KL Escrow Funds and Non-Brokered Escrowed Funds to Conquest,
Conquest is expected to have a total of approximately $5,200,000 in available funds to pursue its planned drilling and exploration activities, of which approximately $800,000 will be flow through funds.
Final acceptance of the Acquisition by the TSXV is subject fulfilling the requirements of the TSXV.
Canadian ContinentalProperties
The CCEC land package consists of almost 10,000 hectares of
underexplored mining lands in Northern Ontario, which the Company
believes are highly prospective for precious and base metals.
The land package includes the Teckmag1 and Eaglerock claims, which
immediately surround Conquest's Golden Rose Property, situated in Afton
and Scholes townships at Emerald Lake approximately 65 km northeast of
Sudbury, Ontario.
When combined with the Company's current land holdings, Conquest will
control over 130 square kilometers making it one of the largest land
holders in the Temagami Mining Camp area.
Conquest's Golden Rose Property
Conquest's Golden Rose Property encompasses patented and staked mining claims measuring 770 hectares in size that encompass the
former Golden Rose gold mine and highly prospective North and South banded iron formations at Emerald Lake. The Golden Rose gold mine
(which is currently flooded) consists of more than six kilometres of underground workings, as well as a three (3) compartment, 228-metre-deep shaft,
and a modern decline ramp from surface to the 6th level of the mine. An inclined winze connects the 6th and 7th levels to the 5th level of the mine.
It is reported that between 1935 and 1941, mining operations at the Golden Rose gold mine by Consolidated Mining and Smelting Company of Canada, Limited
(Cominco) produced 46,000 ounces of gold from structurally controlled, shallow to steeply dipping, high-grade quartz-pyrite veins, hosted almost exclusively
in an east-west trending Banded Iron Formation (BIF). The property largely lay dormant from 1941 to 1982, when exploration resumed.
Diamond drilling of the mine sequence stratigraphy in 1984 intersected numerous high-grade gold intercepts. This drill campaign led to reopening and mine
development by Noramco between 1986-87 which included widening of the mine adit and portal down to the 600-foot level. Minor gold production of approximately 7,000 oz. was reported.
Further, surface drilling between 1984-2011 by a previous operator identified mineralization lying adjacent to known underground development.
It was reported by the previous operator that diamond drilling between 2009-2011 intersected gold grades as high as 155.7 grams of gold per tonne over 1.82 metres.
However, the potential quantity and grade is conceptual in nature and Conquest has not undertaken sufficient exploration to define
a mineral resource and it is uncertain if further exploration will result in the targets being delineated as a mineral resource.
Share Consolidation
At the annual and special meeting of shareholders held on August 31, 2020, Conquest shareholders approved the Consolidation.
It is intended that Articles of Amendment in prescribed form will be filed with the Director under the Business Corporations Act (Ontario) (the "OBCA")
immediately prior to completion of the Acquisition and such Articles of Amendment will become effective upon the issuance by the Director under the OBCA of a Certificate of Amendment.
See Conquest News Release August 31, 2020.
The TSXV has conditionally approved the Consolidation subject to the Company fulfilling all the conditions of the TSXV in respect of the Consolidation.
ABOUT CONQUEST
Conquest Resources Limited, incorporated in 1945, is a mineral exploration company that is exploring for gold on mineral properties in Ontario.
Conquest holds a 100% interest in the Golden Rose Project,acquired in December 2017, located at Emerald Lake approximately 65 kilometres northeast of Sudbury, Ontario,
which hosts the former Golden Rose Gold Mine and is underlain by highly prospective Abitibi greenstone geology along a strike length of seventeen (17) kilometres.
The property is located deep within the regionally large, unexplained Emerald Lake (Temagami) Anomaly which closely resembles the magnetic signature of the adjacent Sudbury Basin.
Conquest also holds a 100% interest in the Alexander Gold Property located immediately east of the
Red Lake and Campbell mines in the heart of the Red Lake Gold Camp on the important "Mine Trend" regional structure.
Conquest's property is almost entirely surrounded by Evolution Mining land holdings.
In addition, Conquest owns a 100% interest in the Smith Lake Gold Property of six patented claims and 181 staked mining claims to the north,
west and south of the former Renabie Gold Mine in Rennie Township in northern Ontario that had reported gold production of over 1,000,000 ounces.
Qualified Person
Paul Smith P. Geo., (NS) Senior Geologist, directs the Company's explorations programs and is the Company's Qualified Person
for the purposes of National Instrument 43-101 -
Standards of Disclosure for Mineral Projects and has reviewed and approved the technical disclosure contained within this news release.
FOR FURTHER INFORMATION CONTACT:
general@ConquestResources.com
www.ConquestResources.com
John F. Kearney
Chairman
416-362-6686
Robert Kinloch
President
306-881-8296
Paul Smith
Senior Geologist
902-698-2662
Forward-looking statements. 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 the completion of the Acquisition and the Consolidation, the release of escrowed funds, future cash on hand,
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 TSXV nor its Regulation Services Provider
(as defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this release.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63950
copyright (c) newsfile corp. 2020
Newsfile Corp.
September 16, 2020 - 9:04 AM PDT
Tags:
GOLD INDUSTRIAL METALS & MINERALS
1
The Sudbury Basin: Ontario’s trillion dollar mining camp
Last month, I had the pleasure of participating in the 16th Annual Sudbury Mining Week -
Jun 18, 2008 10:22 PM By: Sudbury.com Staff
It was appropriate to celebrate Mining Week in Canada, and especially in Sudbury –
one of the most prolific mining camps in the world. In Canada,
mining contributes $40 billion dollars or 5 per cent of
Canada’s GDP every year and pays $4.7 billion in corporate taxes alone.
This industry directly employs 370,000 Canadians and
is the largest private sector employer of Aboriginals.
Canada remains the leading source of new capital for
the global mining industry accounting for 36 per cent
of the $53 billion raised in 2007 or net $19 billion.
As a mining engineer who has spent his career in Africa,
the United Sates and Latin America, I can confirm that there
are few places in the world where mining is embraced and
supported as it is in Sudbury.
However, even in Sudbury, it is important that the mining industry support events such as Mining Week to communicate with local communities and, perhaps, persuade some young people to consider this industry as a future career choice.
The Sudbury area is a 1.85 billion year old meteorite impact crater and the first mineral discoveries were made here in 1883.
Let me give you a few numbers about;
Sudbury which may
surprise even local residents.
The total ore mined to date in Sudbury is
approximately 1.7 billion tonnes with
40 billion pounds of nickel,
36 billion pounds of copper,
70 million ounces of platinum, palladium and
gold and 283 million ounces of silver recovered.
At today’s commodity prices, total historic production
and current known reserves in Sudbury represent a
one trillion dollar value.
The community is the richest mining district in
North America and among the top ten most important
globally.
Sudbury accounts for about half the mining activity in Ontario, Canada’s largest mineral producing province.
The value of Ontario’s mining sector is about
$10 billion annually (2007 figures).
I think these numbers give you some idea of what an
incredible mining area Sudbury is and the impact
it has had on the wealth, not only of the City of
Greater Sudbury, but of Ontario and Canada.
In addition to exploration for gold at
The Golden Rose Gold Mine proiect site,
Click on image and find The Golden Rose Gold Mine - with shallow mining I see it as virgin -
Conquest said two other styles of economic mineral deposits have been identified
within the enlarged Sudbury land package....
Golden Rose Mine- Contains a reserve
2.4 million tonnes at 0.26 ounces of gold a tonne that contains 619,000 ounces of gold.
10/5/20160 Comments
https://www.ontarioexplorations101.com/temagami-ontario-mines/golden-rose-mine-owned-by-temagami-gold-inc-contains-a-reserve-24-million-tonnes-at-026-ounces-of-a-tonne-that-contains-619000-ounces-of-gold
Company Conquest Resources Limited
Address Suite 700, 220 Bay Street, Toronto, ON M5J 2W4 Canada
Phone 416-362-8243
Fax 416-368-5344
Email Address terence_mckillen@conquestresources.net
Website
http://www.conquestresources.net
Mining Companies Flock To Stake Claims
In Red Lake After Recent Gold Strikes In That Area
Conquest's Alexander Property comprises 27 patented claims
acres adjoining
Goldcorp's Red Lake mine.
Published: July 28, 2020 at 8:32 a.m. ET
https://www.marketwatch.com/press-release/mining-companies-flock-to-stake-claims-in-red-lake-after-recent-gold-strikes-in-that-area-2020-07-28-81973250
Alexander Gold Project
Red Lake, Ontario
is claimed by Goldcorp to be
the richest gold mine in the world
The Alexander Property is situated within 2 kilometres of more than
28 million ounces of gold from past production and current resources
and within 400 metres of Goldcorp’s Far East Zone gold discovery.
The Alexander Property is of ample size to accommodate a high-grade
gold deposit at depth as repetition of the adjacent deposits at
Goldcorp’s Red Lake gold mine.
The stratigraphy under the property remains essentially untested
below 700 metres depth.
The richest gold bearing ore zones exist below a vertical depth of
1,300 metres in the High Grade Zone at
the Goldcorp Red Lake gold mine which is less
than 800 metres from the property boundary.
Conquest's target on the Alexander claims is an extension,
or repetition, of the mineralization at the Red Lake mine.
The Red Lake mine is claimed by Goldcorp to be
the richest gold mine in the world with
approximately 28,000,000 ounces of historic
production and current reserves.
https://www.conquestresources.com/project/alexander-gold/
Location and Property Description
Conquest's Alexander Property comprises 27 patented claims
covering 448 hectares (1,107 acres) adjoining
Goldcorp's Red Lake mine.
Conquest’s land is situated just beyond the security gate at
Goldcorp’s Red Lake gold mine and is almost completely
surrounded by Goldcorp's Red Lake mine property.
The Alexander claim holdings are patented and do not
require any annual minimum expenditures, other than
nominal property taxes.
https://www.conquestresources.com/project/alexander-gold/
https://www.conquestresources.com
$15,000 gold price? Jim Rickards and Peter Schiff give forecasts (Part 1/3)
48,024 views •Jul 30, 2020
https://www.youtube.com/watch?v=TnOcRRJHTmk
The chart attached is a forecast for gold based upon that technique.
The data suggests that this current rally could easily surpass
$2000 per ounce, and is most likely to reach $2100 or higher
by the conclusion of this rally.
Gold, Silver & Copper bulls starting to break out > ^ > ^ > ^
https://www.youtube.com/watch?time_continue=3&v=RDZQoQ61RrY&feature=emb_logo
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
My opinions are my own and and DD I post should be confirmed as unbiased
CONQUEST RESOURCES L
Goldcorp Red Lake Gold Mines neighborhood -
Conquest's Alexander Project at Red Lake, Ontario lies adjacent to and along strike from 20+ million ounces of gold reserves
at the Campbell (ex-Placer Dome) and Red Lake (Goldcorp) gold mines.
TSXV-CQR
www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf
EXPLORING IN THESHADOW OF HEADFRAMES___________________________Red Lake Gold Mining District, Ontario, Canada'The junior with the best address in the Red Lake District' |
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RED LAKE |
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| The Red Lake Gold Mine is composed of two operating complexes: the Red Lake Complex and the Campbell Complex. Red Lake Gold mine is Canada’s largest gold mine, and in 2008 produced 629,000 ounces. It is also one of the world’s richest gold mines and lowest cost producers. |
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CQRL compared performance to GG Goldcorp since Jan. 2008
http://www.conquestresources.net/
Conquest Resources Limited is a Toronto,
Canada based public company listed on the TSX Venture Exchange (TSX-V) under the symbol "CQR".
The Company's primary focus is to enhance shareholder value by identifying, exploring and developing
world class gold or other mineral projects in Canada and North America.
220 Bay Street
Suite 700
Toronto, ONT M5J 2W4
Canada
$CQRLF https://www.otcmarkets.com/stock/CQRLF/disclosure
https://www.otcmarkets.com/stock/CQRLF/news
https://www.otcmarkets.com/stock/CQRLF/security
AI
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