🕐25.02.10 - 19:50 Uhr
Conquest Resources ( CQR : TSXV ) starts first deep hole at Alexander Property, Red Lake, Ontario
PRESS RELEASE
.
START OF FIRST DEEP HOLE AT ALEXANDER PROPERTY, RED LAKE, ONTARIO
Toronto, Ontario - February 25, 2010 - Conquest Resources Limited (TSX-V:
"CQR") 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
Huston-Balmer unconformity.
Three "daughter holes" 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 southwestern corner
of the property in close proximity to the Red Lake mine.
Previous, shallower
drilling by Conquest and by Goldcorp intersected significant gold values
within the targeted rock types.
ABOUT THE ALEXANDER PROPERTY
In 2009, Conquest completed a 4,100 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 and 4.05 g/t gold
over 1.92 metres (see Press Release - December 18, 2009).
In 2008, Goldcorp drilled four holes from their adjacent Red Lake mine
property onto the western portion of the Alexander property.
Significant
results from these holes included one 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 of the regional structures that have
associated gold mineralization in the area of Goldcorp's two producing mines
cross on to the Alexander Property.
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.
ABOUT THE COMPANY
Conquest is exploring several gold projects in Ontario.
These include the
Alexander Gold Project at Red Lake; the Aurora and Sunday Lake properties at
Detour Lake; the King Bay Gold Project at Sturgeon Lake (60% interest); and
the Smith Lake Gold Project at Missanabie.
There are currently 81,813,637 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, PLEASE CONTACT:
Toll free: 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
www.conquestresources.net
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