Aug. 19 /CNW/ - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has selected a contractor for the first phase of a two-phase drilling programme to be carried out at its Alexander Gold Project in Red Lake, Ontario.
Boart Longyear Canada will carry out approximately 4,000 meters of NQ drilling in six planned holes with work scheduled to commence in early September.
In late 2008, Goldcorp Inc. drilled four deep holes from its adjacent Red Lake mine property onto Conquest's 100%-owned Alexander property resulting in the deepest gold mineralization intersection on Conquest's property at vertical depth of 300 metres returning 14.26 grams per tonne gold over 0.61 metres (previously announced May 25, 2009).
Conquest's upcoming drill programme is designed to test specific targets, to vertical depths of approximately 500 metres, along a strike length of about 1,800 metres extending from the boundary with Goldcorp's property towards the central portion of the Alexander property.
Gold mineralization potential in this area is open at depth across the length of the Alexander property where Conquest has identified two types of gold mineralization characterized by replacement massive sulphides and quartz-carbonate veining within volcanic and sedimentary lithologies.
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 contain 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 that have 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.
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 72,663,830 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 further information
Terence N. McKillen, President & CEO, (647) 728-4126 D. Brett Whitelaw, Vice-President, (604) 662-8633 John F. Kearney, Chairman, (416) 362-6686 Email: info@conquestresources.net, URL: http://www.conquestresources.net
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