Welcome!

News Feed Item

Conquest Files NI 43-101 Technical Report on the Alexander Property, Red Lake, Ontario

TORONTO, ONTARIO -- (Marketwire) -- 11/22/12 -- Conquest Resources Limited (TSX VENTURE:CQR) ("Conquest" or "the Company") is pleased to announce that the Company has filed a report entitled: "Technical Report on Exploration at the Alexander Gold Project in Red Lake, Ontario" ("Technical Report" or "report"). The report summarizes the exploration activities conducted to date on the Alexander Property ("the Property") and concludes that additional work is warranted to advance the project.

Conquest's exploration activities on its 100% owned Alexander Property total $6.1 million, the majority of which are drilling activities conducted during 2009 through 2011. Since the acquisition of the Red Lake Alexander Property by Conquest in 2002, the Company has completed a total of 31,086 metres of surface exploration diamond drilling, of which 22,961 metres of drilling was completed during an intensive exploration drilling program from 2009 through 2011.

Geophysical and geochemical surveys have also been conducted in addition to surface trenching and mapping over the Property. Geophysical data has been provided from a regional airborne survey commissioned by Goldcorp and flown over Conquest's property. During 2008, Goldcorp drilled four (4) holes from their Red Lake mine property on to the Alexander Property which are also summarized in the Technical Report.

RECOMMENDATIONS

In order to advance exploration on the Alexander Property, the Technical Report recommends the following work to:

"(a) establish and drill test targets through a compilation of existing exploration drilling, geophysics, and geochemistry;

(b) follow-up previous geophysical work conducted by Goldcorp on the Alexander Property and their adjacent mine property;

(c) conduct geochemical surveys on the ground and using existing drill core to establish new drill hole targets; and

(d) to research and conduct a modern bore-hole EM and IP geophysical survey which utilizes the 2009, 2010, and 2011 drill holes which have been maintained for this purpose."

JOINT VENTURE OPPORTUNITY AT RED LAKE

Management believes that an extensive deep drilling program of 20,000 metres of drilling combined with down-hole electromagnetic and induced polarization geophysical surveys is warranted. Conquest considers that the most efficient way to unlock any future value for shareholders and advance the Alexander project is to establish a joint venture with a strategic partner to complete the work that is recommended in the Technical Report.

The Company is soliciting expressions of interest from qualified mining companies who may wish to enter into a strategic partnership joint venture with the Company to advance exploration on its Alexander Gold Project.

ABOUT THE PROPERTY

The Alexander Property is 100% owned by Conquest and is comprised of twenty-seven (27) patented mining claims covering 448 hectares of land situated just beyond the security gate at Goldcorp's Red Lake gold mine. The Property is located immediately west of the Red Lake Complex and Balmer Complex headframes at Goldcorp's Red Lake gold mines within the Red Lake mining district.

The Alexander Property is of ample size to accommodate a high grade gold deposit at depth as repetition of the adjacent deposits at Goldcorp's Red Lake gold mine. The stratigraphy under the Property remains essentially untested below 700 metres depth. The richest gold bearing ore zones exist below a vertical depth of 1,300 metres in the High Grade Zone at the Goldcorp Red Lake gold mine which is less than 800 metres from the property boundary.

QUALIFIED PERSON AND TECHNICAL REPORT

Information of a scientific or technical nature contained in this release has been prepared by or under the supervision of Benjamin Batson, P. Geo., the Vice Present of Exploration of the Company, who is a Qualified Person within the meaning of National Instrument 43-101 of the Canadian Securities Administrators. The Technical Report was prepared by Mr. Batson in compliance with National Instrument 43-101 ("NI 43-101") and is available on the Company's website and on SEDAR (www.sedar.com).

ABOUT THE COMPANY

Conquest is exploring several geologically significant gold projects in Ontario. In addition to Conquest's flagship Alexander Property in Red Lake, Ontario, the Company is undertaking exploration activities at its Detour Lake and Smith Lake properties.

The Smith Lake Gold Project measures 54 square kilometres and consists of six (6) patented mining claims and thirty-four (34) mining claims located within the Missanabie-Goudreau greenstone belt in Leeson and Rennie Townships in northern Ontario. The property is 100% Conquest owned and is contiguous with the former International Corona Resources Renabie Gold Mine, which at that time produced more than 1,000,000 ounces of gold from 1941 through 1991.

In June, the government of Ontario released a geophysical data set containing a compilation of local and regional airborne magnetic and electromagnetic geophysical data for the area covering 70% of the newly amalgamated Conquest land package in the Renabie area. Interpretation of this data by Conquest has generated more than fifteen geophysical targets for gold and base metals exploration which have been scheduled for prospecting and mapping following spring break-up in 2013. The goal is to advance the project by: (i) assessing its potential to host another Renabie sized gold deposit; and, (ii) to determine if volcanogenic massive sulphide potential exists in the metavolcanic and metasedimentary successions present in the Missanabie-Goudreau Greenstone Belt.

The Sunday Lake Gold Project consists of 13 square kilometers of prospective minerals leases located along the Sunday Lake Deformation Zone situated approximately seven kilometres east of Detour Gold's 15.6 million ounce proposed open pit gold mine in northern Ontario that is presently nearing commissioning.

In September 2010, Conquest entered into a joint venture with Detour Gold (TSX:DGC) on Conquest's Sunday Lake Property pursuant to which Detour Gold has the right to earn a 50% interest in the Sunday Lake Property by completing $1,000,000 of exploration prior to September 30, 2013.

Detour Gold is expected to complete a winter drill program during the first quarter (Q1) 2013 which is estimated to cost $320,000. Conquest does not anticipate contributing financially to the 2013 drill program.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
Cloud resources, although available in abundance, are inherently volatile. For transactional computing, like ERP and most enterprise software, this is a challenge as transactional integrity and data fidelity is paramount – making it a challenge to create cloud native applications while relying on RDBMS. In his session at 21st Cloud Expo, Claus Jepsen, Chief Architect and Head of Innovation Labs at Unit4, will explore that in order to create distributed and scalable solutions ensuring high availa...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
In his session at @DevOpsSummit at 20th Cloud Expo, Kelly Looney, director of DevOps consulting for Skytap, showed how an incremental approach to introducing containers into complex, distributed applications results in modernization with less risk and more reward. He also shared the story of how Skytap used Docker to get out of the business of managing infrastructure, and into the business of delivering innovation and business value. Attendees learned how up-front planning allows for a clean sep...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...