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- START OF FIRST DEEP HOLE AT ALEXANDER PROPERTY, RED LAKE, ONTARIO
·START OF FIRST DEEP HOLE AT ALEXANDER PROPERTY, RED LAKE, ONTARIO
Toronto, Ontario – February 25, 2010 - Conquest Resources Limited - (TSX-V: “CQR”)(USOTC:CQRLF) is pleased to announce drilling has started
on the first 2,000 metre “mother hole” on its Alexander Gold
Project(100% owned) at Red Lake, Ontario.
Boart Longyear Canada has mobilized a LY-55 deep-hole rig onto the
site for the initial drill program comprising 8,000 metres of drilling.
The program comprises a series of deep holes with wedging from 800
metres vertical depth in each of the holes.
The initial drill program is expected to take approximately four
months to complete.
The first hole will test the Balmer volcanic assemblage beneath the
Three “daughterholes” will be wedged from the first parent hole. The target is gold mineralization in sheared Balmer volcanics as well
as Huston sediments within the “Mine Trend” structural corridor,
immediately east of Goldcorp’s Red Lake and Campbell gold mines.
The drilling is part of a systematic evaluation of the Alexander
Property at deeper levels than previously explored, starting at the
south western corner of the property inclose proximity to
the Red Lake mine.
Previous, shallower drilling byConquest and by Goldcorp intersected
significant gold values within the target edrock types. ABOUT THE ALEXANDER PROPERTY
In 2009, Conquest completed a4,100 metre drill program which doubled
the depth profile of drilling on the Alexander Property
from 300 to 700 vertical metres in the area below the western part
of the property, adjacent to the Red Lake mine.
All six holes from this program intersected gold mineralization,
including 9.64 g/t gold over 0.39 metres and4.05 g/t gold over
1.92 metres (see PressRelease – December 18, 2009).
In 2008, Goldcorp drilled four holes from their adjacent Red Lake mine
property on to the western portion of the Alexander property.
Significant results from these holes include done intersection
containing 14.25 g/t gold over 0.61 metres
(see Press Release - May 25,2009). Conquest’s Alexander Gold Project -
is located in Balmer Township in the heart of the Red Lake Gold Camp.
The Alexander Property 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
the Far East gold zone at the Red Lake mine.
Many ofthe regional structures that have associated gold mineralization
in the area of Goldcorp’s two producing mines cross on to
the Alexander Property.
Informationof a scientific or technical nature contained in thisrelease has beenprepared by or under the supervision of TerenceMcKillen, P.Geo., theChief Executive Officer of the Corporation and aQualified Person withinthe meaning of National Instrument43-101 of theCanadian SecuritiesAdministrators. ABOUT THE COMPANY
Conquest is exploring several gold projects in Ontario.
These include the Alexander GoldProject at Red Lake;
the Aurora and Sunday Lake properties at Detour Lake;
theKing Bay Gold Project at Sturgeon Lake (60% interest);
and the Smith Lake GoldProject at Missanabie.
There are currently 81,813,637 shares of Conquest issued and outstanding.
Thisnewsrelease may include certain "forward-looking statements".Allstatementsother than statements of historical fact, included inthisrelease, including,without limitation, statements regardingpotentialmineralization, resources andreserves, exploration results,and futureplans and objectives of Conquest, areforward-lookingstatements thatinvolve various risks and uncertainties. Therecan be noassurance thatsuch statements will prove to be accurate andactualresults and futureevents could differ materially from thoseanticipated insuchstatements. Important factors that could cause actualresults todiffermaterially from Conquest’s expectations are explorationrisksdetailed hereinand from time to time in the filings made byConquestwith securitiesregulators.
Neither theTSXVenture Exchange nor its Regulation Services Provider(as that termisdefined in the policies of the TSX VentureExchange)acceptsresponsibility for the adequacy or the accuracy ofthisrelease.
FORFURTHER INFORMATION, PLEASE CONTACT:
Tollfree: 1(877) 280-8633
D. Brett Whitelaw, Vice-President – (604) 662- 8633 -Vancouver
Rob Kinloch, Director – (306) 343- 5799 -Saskatoon
Terence N. McKillen, President & CEO – (647) 728- 4126- Toronto
John F. Kearney, Chairman – (416) 362- 6686 -Toronto