- NEW GOLD INTERSECTION of 14.25 G/T OVER 0.61 METRES AT A DEPTH OF
TORONTO, May 25 /CNW/ - 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,
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
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
ABOUT CONQUEST RE
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 person under NI 43-101, based on data
provided by Goldcorp Inc.
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
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; Email: email@example.com, URL: