Red Lake Gold Project, Strong Results From The Deepest Drilling Will Direct An Aggressive Exploration Campaign In 2010.
conquestresources.net
Goldcorp Inc. (TSX: G)(NYSE: GG) provided highlights of its successful
$110 million 2009 exploration program.
- Red Lake High Grade Zone Continues at Depth.
Several assay intervals in excess of 60 grams per tonne in
the deep High Grade Zone support the strong potential for gold
resource to reserve conversion between the 46 and 50 levels,
as well as for new gold resources below the 50 level.
A new and growing area of high grade gold called the Far East Zone
has also been identified up-plunge from the High Grade Zone
In the under-explored Party Wall area ("R Zone") between Campbell
and Red Lake, strong results from the deepest drilling will direct
an aggressive exploration campaign in 2010.
Canada
Goldcorp is the largest producer of gold in Canada, and its Red Lake
and Porcupine mines are hosted in two of the most prolific gold
districts in the world.
The third Ontario-based mine, Musselwhite, is hosted in banded iron
formations with mineralization common along folds and shear zones
within these formations.
In Quebec, the Company's late-stage development project Eleonore is
in the heart of the James Bay area, Canada's newest gold district.
Red Lake
A primary focus of exploration at Red Lake in 2009 was the early
completion of the 4199 exploration drift, enabling drilling of
the deep High Grade Zone for the first time in four years.
Five assayed drill holes have been completed within the resource
shape from this platform, with results indicating the continuation
of the High Grade Zone at depth.
This year, the Company is targeting new gold reserves in the zone
between the 46 and 50 levels and new resources below the 50 level.
The 4199 exploration drift will now provide the primary exploration
platform for exploration of the deep High Grade Zone on an
ongoing basis.
It will be developed progressively in order to maintain favourable
drilling geometry into the area.
The Party Wall at Red Lake comprises the former boundary area between
the Red Lake and Campbell mines that had been previously unexplored.
Assays over the last two years have demonstrated a high grade gold
resource.
Mining operations in the shallower portions of the Party Wall have
drifted toward the gold zone, with in-fill drilling confirming the
resource model.
Deep drilling of the Party Wall area to the 38 level has resulted in
some of the highest grade intercepts to date, and will be the focus
of an aggressive drill program in 2010.
Up-plunge and to the east of the Red Lake High Grade Zone lies
an underexplored area called the Far East Zone.
Assay results in 2009 indicate an ore grade gold zone at the 16 level
that will continue to be tested as drilling moves closer to the surface.
Red Lake Drilling Results ex..
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Drill Approx. true
Hole Area From (m) To (m) width (m) Au (g/t)
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D44008 High Grade Zone 49 level - 360.30 - 365.91 - 4.50 - 931.89
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D44004 High Grade Zone 48 level 362.41 374.29 8.11 65.83
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D43058 High Grade Zone 49 level 322.78 325.53 2.19 120.00
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D43059 High Grade Zone 49 level 359.36 369.94 10.58 43.89
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D36439 R Zone 92.20 96.77 3.50 60.00
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D41178 R Zone 663.25 670.56 4.73 45.87
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16L1427 Far East 21.03 32.13 9.24 29.83
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16L1426 Far East 38.40 42.67 4.00 31.70
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GOLDCORP'S DRILLS HEAD EAST TOWARDS CONQUEST'S PROPERTY DIRECTION
conquestresources.net
Up-plunge and to the east of the Red Lake High Grade Zone lies
an underexplored area called the Far East Zone.
Assay results in 2009 indicate an ore grade gold zone at the 16 level
that will continue to be tested as drilling moves closer
to the surface....
Conquest intersects gold in first four holes on Alexander Gold Property in Red Lake
conquestresources.net
* Press Release
* Source: Conquest Resources Limited
* On 4:46 pm EST, Monday November 23, 2009
*
Companies:
* Conquest Resources Limited
TORONTO, Nov. 23 /CNW/ - Conquest Resources Limited
(TSX-V: "CQR") is pleased to provide interim results from ongoing
exploration at its 100% owned Alexander gold project located in
the prolific "Mine Trend" structure of the Red Lake gold camp
in northwestern Ontario.
Conquest has completed its 2009 surface drill programme which consisted
of six drill holes totaling 4,100 metres of NQ drilling conducted
by Boart Longyear Canada.
The programme was designed to target prospective stratigraphic and
structural horizons to depths previously untested in the western
and central portions of the Alexander property and to further
investigate the area of recent drilling conducted by
Goldcorp Inc. on to the property (previously reported, May 25, 2009).
SHALLOW DEPTH GOLD VALUES
Assay results received to-date for the first four holes confirm
intersections of gold mineralization over narrow widths from sampling
ranging in depth between 65 and 270 metres vertically.
-50 3.10
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CR-09-034 205.41 208.88 3.47 -50 1.80
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(includes) 0.39 -50 9.64
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CR-09-035 89.35 89.85 0.50 -50 1.46
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CR-09-036 233.00 233.30 0.30 -50 1.08
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CR-09-037 - - - - Pending
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CR-09-038 - - - - Pending
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True width will be determined following receipt of complete survey data
and will be provided in a follow up release.
The gold was identified by sampling in Balmer volcanic and Huston
sedimentary rocks similar to those encountered in earlier shallow
drilling completed by Conquest in 2003 and 2004.
Commenting on the progress of the 2009 drilling program Mr. Terence
McKillen, President and Chief Executive Officer of Conquest Resources,
stated, "The results of our 2009 programme confirm the depth continuity
of gold bearing structures encountered in previous shallow drilling
and provide the necessary encouragement to embark on a major programme
of deep drilling to evaluate the potential of this strategically
located Red Lake property."
SIGNIFICANT GEOLOGY IDENTIFIED AT DEPTH
Holes CR-09-037 and CR-09-038 were drilled to depths of 700 and 750
metres vertically, and represent the deepest holes drilled to date
at Alexander.
Hole CR-09-037 intersected 83 metres of strongly sheared and silica
altered Bruce Channel sediments at approximately 870 metres down-hole
depth.
Hole CR-09-038 intersected the same altered and sheared sediments at
a down-hole depth of 988 metres.
These two holes provide a newly established strike length of over 225
meters of prospective horizon within the important Bruce Channel
sediments.
Assays are pending for these final two holes.
The recently completed drilling programme has provided important
geological data on previously inferred structural and lithological
contacts at depths ranging from 400 to 750 metres vertically and
confirms the presence of gold-bearing structures within
the Balmer and Huston formations on Conquest's Alexander Property.
The current drilling has effectively doubled the depth profile
established in previous drill programmes on the Alexander property
and has provided the first geological insight at deeper levels in
the stratigraphy.
The information into the deeper subsurface geology gained during
the Phase-I drilling has provided valuable data for the development
of a major, deep drilling programme to systematically explore the
Balmer Assemblage rocks.
Subject to financing, the next phase of drilling is planned to commence
early in 2010, and will test to vertical depths between 1,300 and
2,000 metres.
ABOUT THE ALEXANDER PROPERTY
Conquest's Alexander gold project is located in Balmer Township in
the heart of the Red Lake Gold Camp.
It is situated within the "Mine Trend" structural corridor 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
conquestresources.net
the Far East gold zone at the Red Lake Mine -
Alexander Project - Location
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. Samples were fire assayed for gold content by SGS Mineral Services in Red Lake, Ontario with the regular use of standards and blanks for quality control.
ABOUT THE COMPANY
conquestresources.net
Conquest is exploring several gold projects in Ontario.
These include the Alexander Gold Project at Red Lake;
conquestresources.net
conquestresources.net
conquestresources.net
the Aurora and Sunday Lake properties at Detour Lake;
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conquestresources.net
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
Robert Kinloch, Director, (306) 343-5799
Email: info@conquestresources.net,
URL: www.conquestresources.net
--
well, CQR still an Ausome bargain..
dd..listen to..
Presentation by John F. Kearney, Conquest's Chairman on "InvestmentPitch.com"....
investmentpitch.com
WHY RED LAKE GOLD BELT?
siliconinvestor.com
siliconinvestor.com
cqr.v
stockcharts.com
Got Gold Red Lake bargain play
dd....
conquestresources.net
siliconinvestor.com
imo. tia.
Merry Christmas |
