tnyellowtomcat welcome to Conquest Resources Ltd. (USOTC:CQRLF) (TSXV:CQR)
RE: 512.6 Hectare Gold Eagle Sells for 1.5 Billion in 2008 - Only eight years ago, the adjacent property to Conquest Resources sold for 1.5 Billion to Gold Corp. It was only 512.6 Hectares.
Compared to Conquest which is 448 Hectares in size.
MINERAL EXPLORATION PROPERTY Gold Eagle Property The Gold Eagle property, which consists of 35 contiguous patented claims with an area of 512.6 ha, is located in Dome Township approximately 6 km from the town of Red Lake, Ontario. The property has been subject in the past to mining operations, systematic geological, geochemical and geophysical surveys and a drilling campaign. To date over 132,000 m of drilling has been completed on the Gold Eagle property since 2004 and of that total over 97,000 m of drilling has been completed on the BCD. Currently the Gold Eagle property is undergoing an extensive surface diamond drilling exploration program on the BCD. Drilling consists of a master or mother hole with multiple wedging off each such hole. The Companys drill hole reporting method follows a reference. http://www.goldcorp.com/English/Investor-Resources/News/News-Details/2008/Goldcorp-Consolidates-Red-Lake-District-With-15-Billion-Acquisition-of-Gold-Eagle/default.aspx
This is exactly why we are investing in this - Conquest Resources Ltd. (TSXV:CQR stock >
Conquest Resources Ltd. (TSXV:CQR) (USOTC:CQRLF) Gold Outlook 2016: Why Prices are Set to Explode -
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Or as Standard Chartered argues, 2016 is poised for a “rapid rise in gold prices.”
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ALERT: Legend Pierre Lassonde Just Predicted Price Of Gold To Soar Above $10,000 May 26, 2016
ALERT: Legend Pierre Lassonde Just Predicted Price Of Gold To Soar Above $10,000 With the price of gold and silver pulling back and consolidating recent gains, today legendary Pierre Lassonde spoke with King World News and predicted for the first time ever that the price of gold will soar above $10,000.
• GOLDCORP DRILLS FOUR HOLES ON CONQUEST’S ALEXANDER PROPERTY AT RED LAKE
• NEW GOLD INTERSECTION OF 14.25 G/T OVER 0.61 METRES AT A DEPTH OF 300 METRES
Toronto, Ontario – May 25, 2009
Conquest Resources Limited (TSX-V: “CQR”) is pleased to announce that Goldcorp Inc. (“Goldcorp”) has recently completed four diamond drill holes on to Conquest’s Alexander Property at Red Lake, Ontario.
The holes were drilled by Goldcorp from its adjacent Red Lake Mine Property as part of a wider program to delineate mineralization within the upper part of the Red Lake Mine.
The four inclined holes, which were collared from surface within approximately 1,000 metres of the Red Lake Mine No. 1 Shaft headframe, were drilled in a north-easterly direction into the western part of Conquest’s property to downhole depths between 690 to 836 metres. Hole DS641 of Goldcorp’s drilling programme located a significant gold intersection of 4.97 grams per tonne gold over 1.82 metres, including 14.25 g/t over 0.61m, at a down hole depth of 473 metres and an estimated vertical depth of approximately 300 metres.
The preliminary drilling results were provided to Conquest by Goldcorp. The gold assay results were determined by SGS and Accurassay Laboratories in Red Lake and Thunder Bay, Ontario.
Conquest’s Alexander Gold Project is located in Balmer Township in the heart of the Red Lake Gold Camp. It lies immediately adjacent to Goldcorp’s high grade Red Lake Mine, within the east-southeast trending “Mine Trend” deformation zone, and is almost completely surrounded by Goldcorp’s claim holdings.
Commenting on the drilling results, Conquest’s President & CEO, Mr. Terence McKillen, stated: “The intersection of good grade gold at this depth on Conquest’s property is extremely encouraging. The gold mineralization previously encountered by Conquest in the west-central part of the Alexander Property was in trenching and shallow drilling. Goldcorp’s four drill holes extend to approximate vertical depths of 450 – 570 metres representing the deepest drilled holes on the Alexander Property to date. The intersection in hole DS641 confirms gold potential exists at depth on Conquest’s property.”
Conquest’s Alexander Property at Red Lake is situated adjacent to Goldcorp’s Red Lake and Campbell gold mines, which contain historic production and current resources in excess of 25 million ounces of gold, approximately 1,000 metres east of the No. 1 Shaft headframe and within 400 metres of the Far East Zone at the Red Lake Mine. Many of the regional structures that have associated gold mineralization in the area of Goldcorp’s two producing mines cross on to the Alexander Property.
Conquest has developed a phased exploration strategy for its Alexander Project to investigate depth extensions from known surface and near surface gold mineralization and plans to initiate the first phase of drilling later this summer.
ABOUT CONQUEST RESOURCES
Conquest is exploring several gold projects in Ontario. These include the Alexander gold project at Red Lake; the Aurora and Sunday Lake gold projects at Detour Lake; the King Bay gold project at Sturgeon Lake (60% interest); and the Smith Lake gold project at Missanabie.
Conquest has 72,663,830 shares issued and outstanding.
This release has been prepared under the supervision of Terence N. McKillen, P. Geo. who is a qualified
2011
CONQUEST COMMENCES DRILLING FROM GOLDCORP RED LAKE MINE PROPERTY
Toronto, Ontario – April 14, 2011
Conquest Resources Limited (TSX-V: “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.
2014
• CONQUEST REPORTS MARCH 31, 2014 FIRST QUARTER RESULTS
Toronto, Ontario – May 22, 2014
Conquest Resources Limited (TSV-V: “CQR”) (“Conquest” or “the Company”) has filed its unaudited Financial Statements and Management’s Discussion and Analysis for the three months ended March 31, 2014. These filings are available for download on the Company’s website at www.conquestresources.com and on SEDAR.
For the three month period ended March 31, 2014, the Company recorded net income of $61,000 ($0.001 per share); compared to a loss of $286,000 ($0.003 per share) for the three month period ended March 31, 2013.
Administrative expenses for the three month period ended March 31, 2014 amounted to $46,000, compared to $66,000 in the three months ended March 31, 2013.
The income in the three month period ended March 31, 2014 included a gain on disposal of shares of $28,000, and a gain to the market value of marketable securities of $79,000. In the three month ended March 31, 2013, the Company recorded a loss to market value of marketable securities of $220,000.
Total assets increased to $7,828,000 at March 31, 2014 from $7,770,000 at December 31, 2013, due to the increase in value of marketable securities. At March 31, 2014, the Company had mineral properties with a total book value of $7,673,000 and a working capital surplus of $104,000, compared to a surplus of $46,000 at December 31, 2013.
GRANT OF STOCK OPTIONS
The Board of Directors has approved the grant of 5,800,000 share purchase options to directors, officers and service providers at an exercise price of $0.05 per share, all with an expiry date of June 30, 2019. The options will vest over a period of two years.
During the quarter ended March 31, 2014, 3,200,000 stock options expired unexercised.
ABOUT THE COMPANY
Conquest holds several geologically significant gold projects in Ontario, Canada. The Company also maintains a claim to two gold properties in Zimbabwe. The Company’s flagship Alexander Gold Property is located immediately adjacent Goldcorp’s producing Red Lake mine in northern Ontario. The property is 100% owned by Conquest measuring 448 hectares in size and situated just beyond the security gate at Goldcorp’s Red Lake gold mine. 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, which is less than 800 metres from the property boundary.
The Smith Lake Gold Project measures 46 square kilometres in size and consists of six (6) patented mining claims and twenty-four (24) unpatented mining claims located within the Missanabie-Goudreau greenstone belt in Leeson and Rennie Townships in northern Ontario. The property is 100% Conquest owned and is contiguous with the former International Corona Resources Renabie Gold Mine, which produced more than 1,000,000 ounces of gold from 1941 through 1991.
The Sunday Lake Gold Project consists of 13 square kilometers of prospective minerals leases held under a 50/50 joint venture with Detour Gold Corporation. The property is located along the Sunday Lake Deformation Zone situated approximately seven kilometres east of Detour Gold’s 15.6 million ounce open pit gold mine in northern Ontario.
There are currently 95,477,728 shares of Conquest issued and outstanding
2015
CONQUEST SELLS 50% JV INTEREST IN SUNDAY LAKE PROPERTY TO DETOUR GOLD
Toronto, Ontario – January 19, 2015
Conquest Resources Limited (TSV-V: “CQR”) (“Conquest” or “the Company”) announces that it has sold its remaining 50% joint venture interest in the Sunday Lake gold project to Detour Gold Corporation (“Detour Gold”), for a one-time payment of 33,000 common shares of Detour Gold (“DGC”-TSX).
Based on the closing share price of Detour Gold on January 16, 2015 the consideration received by Conquest is valued at approximately $420,000.
The Sunday Lake Property is located along the Sunday Lake Deformation Zone and situated approximately seven kilometres east of Detour Gold’s 15.5 million ounce open pit gold mine in northeastern Ontario.
In 2010, Conquest entered into an agreement whereby Detour Gold was granted an option from Conquest to acquire a 50% joint venture interest in the Sunday Lake Property by incurring $1.0 million in exploration expenditures. Under the Option earn-in, Detour Gold vested its 50% interest and became the Operator of the joint venture by completing exploration soil geochemistry and geophysical programs in addition to two exploration diamond drilling programs.
In 2010 Conquest sold its adjacent Aurora Property to Detour Gold for a cash consideration of $2.0 million and 100,000 shares of Detour Gold.
Conquest is actively seeking a new project to replace its Sunday Lake Property in mining-friendly jurisdictions such as Canada and the United States of America. Conquest believes that prolonged depressed markets for junior exploration companies have created favorable conditions for the Company.
Conquest Reports Positive Gold Anomalies From Soil and Geochemical Surveys at its Golden Rose Property, Ontario Canada NewsWire
TORONTO, Nov. 20, 2018
Focus on old mine area and high-priority geophysical targets TORONTO, Nov. 20, 2018 /CNW/ -
Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has received positive anomalous gold-in-soil results following its 2018 summer exploration soil and MMI geochemical surveys at its Golden Rose Gold Mine property.
The surveys were taken over eight (8) of the priority geophysical/geological targets previously identified in Geotech's report on the VTEM survey completed earlier in 2018 (See Conquest News Releases July 12 and August 23, 2018). The intent of the conventional soil survey and the Mobile Metal Ions ("MMI") survey was to confirm the potential for defining anomalous gold at each of the eight, high priority targets associated with the identified magnetic and EM conductive anomalies, in addition to defining underlying lithology based on MMI geochemistry to enhance geological understanding of the Golden Rose property.
The Company received the MMI assay results from SGS Canada Inc. in Lakefield, Ontario and the soil samples from AGAT Laboratories in Mississauga, Ontario.
Soil Survey
A total of ninety-nine (99) conventional soil samples were collected and delivered to AGAT Laboratories in two separate batches for analyses for twenty-three (23) elements. These samples were collected along a portion of the base line (BL 7400N) at the mine site and along recce lines across the geophysical anomalies identified as C2 (L1110), C6 (L1270), C6 (L1310), C8, C10, C10', and C11. All the traverse lines were oriented at approximately 330° and were centered on the preliminary drill collar locations proposed in Geotech's report on the VTEM survey.
Soil Survey Results
The strongest soil anomaly occurs along the baseline near the eastern projection of the existing underground mine workings. Two anomalous gold values (351 ppb Au and 128 ppb Au) are located at the exact location of a proposed drill hole previously selected based on geological information.
A single anomalous gold-in-soil assay occurs 25 metres north of a proposed drill hole location at C10.
Two adjacent samples at the C10' geophysical anomaly show elevated gold values (128 ppb Au and 12 ppb Au) and are located immediately south of a proposed drill hole location.
Anomaly C8 had two anomalous gold assays (11 ppb Au and 17 ppb Au) located north and south (respectively) of the suggested drill hole location.
Anomaly C6 (L1310) showed a single anomalous gold assay (14 ppb Au) at the proposed location of the recommended drill hole.
C11 showed a single anomalous gold assay located 125 metres south of the proposed drill hole location. The results of the soil survey identified positive gold-in-soil anomalies at six of the previously prioritised geophysical targets identified in the Geotech survey and help confirm the selected location of the proposed drill holes in Geotech's final report.
MMI Survey
The Mobile Metal Ions ("MMI") orientation survey was completed under the direction of SGS personnel from its Lakefield Ontario laboratory. The recce survey was carried out to locate areas of anomalous gold mineralization, as well as to identify geochemical parameters reflecting underlying bedrock geochemistry. A total of seventy-four (74) samples were collected and analysed by SGS Canada Inc.
MMI Results
MMI identified gold mineralization in Line #1 (mine stratigraphy) using gold-only data. No other elements were found to be good pathfinders with the gold. The anomalous values along Line #1 were very high, ranging from 20 to 100 times above background levels.
MMI identified a low-grade single point anomalous gold value in Line #4; however this sample will require further verification to ensure no contamination influences from the previous 1986-1987 mill operations.
Most samples along Line #3 reported background levels, except samples GR-L3-1 and its duplicate GR-L3-1D which assayed at twenty-eight (28) and fifty-two (52) times above background, respectively. Also, sample GR-L3-15 had a value of sixteen (16) times above background. The MMI survey was successful in identifying the underlying geology at all sample location areas using the Spearman ranking from the DOGS macro. Areas of known and well documented underlying geology from Line #1, Line #2 and the Nipissing diabase samples were used as reference to compare against the unknown samples in Line #3. The MMI survey demonstrated that the elemental chemistry over the andesite, banded ironstone formation, rhyolite and Nipissing diabase have distinctive elemental signatures from one another that help characterize distinct lithological populations. This information will be used in future MMI soil surveys to help map out the underlying geology in areas covered by glacial till and thick vegetation.
Target prioritisation
Based on the recce soil and MMI surveys, six (6) geophysical targets (C1', C6 (L1310), C8, C10, C10', and C11) have now been further prioritized. These prioritised targets all occur within prospective geological settings (lithological and structural control) having potential for gold mineralization. Favourable zones with gold mineralization include, magnetic horizons (magnetite-rich Banded Iron Formation; intermediate to mafic volcanic flows and pyroclastics, and quartz-feldspar porphyry intrusions).
All the prioritised targets lie along or adjacent to the two prospective horizons of Algoman-type Banded Iron Formation, which trend east-northeast across the entire strike length of the Golden Rose property. Geologically, the two horizons of BIF are regarded as the north and south limbs of a regional synclinal structure, with the north limb hosting the former Golden Rose mine near the western end of the property.
Geophysical modelling results of the prioritized targets have provided parameters for each target, including target thickness, which ranges between 10-20 meters, and depth to target, with seven of eight targets lying within 50 meters of the surface.
Qualified Person:
Paul Smith P. Geo. (NS) Vice President Exploration, directs the Company's explorations programs and is the Company's Qualified Person for the purposes of National Instrument 43-101 and has approved the technical disclosures within this News Release.
ABOUT CONQUEST
Conquest Resources Limited incorporated in 1945 is a mineral exploration company that is engaged in the exploration of mineral properties in Ontario. The Company's principal exploration target is gold.
Conquest holds a 100% interest in the Golden Rose Property located at Emerald Lake, sixty-five (65) kilometres northeast of Sudbury, Ontario. The thirty-three (33) easily accessible patented and staked mining claims encompass 770 hectares and the former Golden Rose Gold Mine, located deep within the regionally large, unexplained Emerald Lake (Temagami) Anomaly, which closely resembles the magnetic signature of the adjacent Sudbury Basin. Conquest's exploration strategy at its Golden Rose property is to target gold mineralization lying along the two prospective horizons of Algoman-type Banded Iron Formation, which trend east-northeast across the entire strike length of the Golden Rose property. Conquest has now increased its land position in the area by approximately 3,200 hectares and currently holds a total of 3,980 hectares of prospective mineral exploration ground.
Conquest also holds the Alexander Gold Property located immediately east of Goldcorp's 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 Goldcorp's land holdings.
In addition, Conquest owns a 100% interest in the Smith Lake Gold Property which consists of patented and staked mining claims in Leeson, Stover, Brackin, and Rennie Townships in northern Ontario, lying to the north, west and south of the former Renabie gold mine.
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 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.
Paul Smith, P. Geo., Vice President Exploration, 647-729-0311; Robert Kinloch, President and CEO, 306-343-5799; John F. Kearney, Chairman, 416-362-6686 Copyright CNW Group 2018
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.
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.
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.
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 bulls starting to break out > ^ > ^ > ^
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