Conquest Intersects Gold Mineralization in Five Drill Holes at Smith Lake Gold Property in Northern Ontario

Conquest Resources Limited (TSX VENTURE:CQR) reports that it has completed
fifteen drill holes totaling 1,759 metres of diamond drilling in a planned 2,500
metre exploration program at its 100% owned Smith Lake Gold Property, located
adjacent to the former Renabie Gold Mine, in northern Ontario.


Of the fifteen holes completed since the commencement of drilling in February
2012, Conquest has received assay results on the initial six holes with five of
the six holes, namely CSL-12-011, CSL-12-012, CSL-12-013, CSL-12-015 and
CSL-12-016 returning anomalous gold values between 0.52 and 2.80 grams of gold
per tonne (gpt Au) over 0.25 to 1.52 metres true thickness in eleven of a total
of ninety-two samples, detailed below.




--  CSL-12-011 
    --  2.63 gpt Au over 0.39m from 47.95m to 48.34m 
    --  1.75 gpt Au over 1.52m from 154.00m to 155.52m
--  CSL-12-012 
    --  2.80 gpt Au over 0.68m from 129.62m to 130.30m 
    --  1.57 gpt Au over 0.30m from 137.00m to 137.30m 
    --  1.64 gpt Au over 1.48m from 155.52m to 157.00m 
    --  1.29 gpt Au over 0.97m from 175.95m to 176.92m 
    --  0.52 gpt Au over 1.32m from 163.50m to 164.82m
--  CSL-12-013 
    --  1.23 gpt Au over 0.68m from 104.06m to 104.88m
--  CSL-12-015 
    --  0.77 gpt Au over 0.61m from 70.50m to 71.11m
--  CSL-12-016 
    --  1.02 gpt Au over 0.25m from 12.77m to 13.02m 
    --  0.66 gpt Au over 0.94m from 35.26m to 36.20m



The gold mineralization intersected in the holes completed to date is
exclusively associated with Trondhjemite hosted quartz-(chlorite)-(Pyrite)
veining within structures interpreted to be similar in orientation to the nearby
former Renabie and Nudalama gold mines located within 1,500 metres to the south
and east respectively of Conquest's drilling on its Smith Lake Property. Assays
are pending for holes CSL-12-017 through CSL-12-025.


"It is significant that many of the holes completed in the ongoing 2012 and the
earlier Autumn 2011 exploration drilling programs intersected anomalous gold
bearing quartz-(chlorite)-(Pyrite) veins ranging from 1 to 100 centimeters in
true thickness," comments Benjamin Batson, Vice President Exploration of the
Company. 


A total of 25 planned drill holes have been designed to test near surface vein
systems and other structural targets on the property. Targets for drilling have
been planned in areas with east-west oriented structures near the northern
extension of the north-south oriented Braminco Shear Zone. Additional targets
have been identified at sites with coincident structural and Mobile Metal Ion
("MMI") surface geochemical anomalies.


Summit Drilling Services Inc. is under contract to operate their lightweight
drilling equipment for an estimated three months of BQ-sized exploration core
drilling until the Spring thaw and break-up. 


Samples were analyzed by AGAT Laboratories in Sudbury, Ontario using a 50 gram
pulp fire assay technique with ICP-OES finish. AGAT employs the use standards,
blanks and duplicate samples to calibrate on a regular basis within batches.


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 and Benjamin Batson, P. Geo., the Vice Present of Exploration
of the Company, both of whom are Qualified Persons within the meaning of
National Instrument 43-101 of the Canadian Securities Administrators.


ABOUT THE SMITH LAKE PROPERTY

Conquest's Smith Lake Property consists of six patented mining claims and 24
contiguous mining claims comprising over a 50 square kilometer area that is
located contiguous with the former Barrick/Homestake Renabie Gold Mine which
closed in 1991 having produced more than 1,000,000 ounces of gold since 1941
from reported reserves of approximately 6 million tonnes at an average grade of
6.6 grams per tonne gold and 2 grams per tonne silver.


During 2011, Conquest completed 1,109 metres of diamond drilling on Conquest's
100% owned patented mining claims at Smith Lake. The most significant gold
intersection on the Smith Lake Property was located in the first drill hole of
the program grading 63.3 grams per tonne (g/t) of gold over 0.28 metres within a
mineralized quartz vein in hole CSL-11-001. Of a total 318 samples collected
from the 2011 ten hole program, 30 samples returned anomalous assays ranging
from 0.25 g/t to 63.3 g/t gold over 0.22 to 1.50 metres in core length
thickness.


Gold mineralization in the Renabie area is the result of repetitive hydraulic
fracturing and shear zone inflation within Archean-aged granitoid intrusives.
The repetitive nature of veining results in ribbon textured veining that is
strongly controlled by two main structural trends oriented east-west and
northwest-southeast, both of which are present on Conquest's patented mining
claim group at Smith Lake.


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 Gold Corporation ("Detour Gold"); and, the Smith Lake
Gold Project at Missanabie. 


Conquest and Detour Gold 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 15.6 million ounce planned 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. Detour
Gold completed 1,600 metres of exploration drilling during winter 2011 and is
currently planning a 2,000 metre drilling program for 2012.


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.
Messina Minerals Inc. (TSXV:MMI)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024