Conquest Commences Drilling at its Smith Lake Gold Property in Northern Ontario
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 09/14/11 -- Conquest Resources Limited (TSX VENTURE: CQR) reports that it has commenced a 1,100 metre diamond drilling program on its 100% owned Smith Lake Gold Property, located within the Missanabie-Goudreau Greenstone Belt, in northern Ontario. Using a diamond drill contracted with Boart Longyear, Conquest is conducting a preliminary program of up to 12 shallow drill holes to test near surface vein systems and other structural targets on the property.
The Smith Lake property consists of six patented mining claims and 24 newly acquired contiguous mining claims located over a 50 square kilometer area and adjacent to the former Renabie Gold Mine, previously operated by Barrick/Homestake, and which produced approximately 900,000 ounces of gold at an average grade of 6.25 grams per tonne gold. The most significant discovery on Conquest's Smith Lake property, in the mid-1980s, includes a reported 68 gram per tonne gold intersection over 1.68 metres (2.2 ounces per ton gold over 6 feet).
Earlier in 2011, Conquest performed a detailed ground magnetic survey over its patented mining claims. The additional contiguous claims were acquired based on geophysical and geochemical data believed to be prospective for structurally hosted gold and volcanogenic massive sulphide (VMS) type mineralization.
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.
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 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 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, 2012 to earn a 50% interest in the Sunday Lake Property.
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.
Contacts:
Conquest Resources Limited
Terence N. McKillen
President & CEO
647-728-4126
Conquest Resources Limited
D. Brett Whitelaw
Vice-President Investor Relations
604-984-8633
Conquest Resources Limited
John F. Kearney
Chairman
416-362-6686
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Unternehmensinformation / Kurzprofil:
Datum: 14.09.2011 - 20:05 Uhr
Sprache: Deutsch
News-ID 66090
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contact information:
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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