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. 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.
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