Conquest Resources Limited is pleased to report that the Company has substantially increased its land position at Emerald Lake by claiming 3,200 hectares of prospective land in the vicinity of its Golden Rose mine property, located approximately 65 km northeast of Sudbury, Ontario.
Conquest now controls 3,980 hectares in six exploration blocks at Emerald Lake underlain by south Abitibi greenstone geology that is considered highly prospective for gold mineralization, representing an increase in Conquest’s land position associated with the project of more than 500 percent.
“Conquest’s plan to expand its land position beyond its recently acquired property was put into action at a very low cost to the Company by claiming mineral rights to areas near the former Golden Rose mine site that are underlain by Archean basement stratigraphy similar to that of the core Golden Rose claims which exhibit encouraging mineralization, geology and geophysics,” commented Benjamin Batson, President and Chief Executive Officer of Conquest.
At the opening of the online Ontario Mining Lands Administration System (“MLAS”) on April 10, 2018, Conquest claimed five (5) blocks of land which cover extensions of the banded iron formation stratigraphy that is host to the former Golden Rose gold mine at Emerald Lake with geology favorable for gold mineralization. Portions of these new blocks have historical mapping coverage, geophysics and known mineralization characterized by sulphide occurrences in outcrops and drill holes. The new blocks are accessible by road, trail and by boat from the Golden Rose mine site.
“We have learned a great deal about the geology and mineralization at the Golden Rose mine site and feel that there is excellent potential across the whole of the belt for gold mineralization. The addition of the new claim blocks enhances that opportunity,” added Mr. Batson. “Conquest’s technical team is excited to get boots on the ground as soon as the snow has melted and we look forward to updating our shareholders through our website and media channels on our progress as the spring exploration season unfolds.”
WINTER/SPRING EXPLORATION PROGRAM AT THE GOLDEN ROSE PROPERTY
During March 2018, Conquest completed a high-resolution, property-scale, airborne geophysical survey on the Golden Rose property. The survey was flown under contract to Geotech Limited (“Geotech”). The final survey results, which are expected to be available at the end of April, will include inversion interpretation techniques used to model three-dimensional solids of the property.
With the addition of Geotech’s variable time domain electromagnetic (“VTEM”) data, zones of conductance can be interpreted from the VTEM data that can be layered into the magnetic and bedrock geology models for use in drill hole targeting for gold mineralization across the strike of the two prospective banded iron formations which transect the width of the Conquest’s Golden Rose property.
Conquest is also preparing for the Spring/Summer Exploration season by relogging historical drill core from some of the 450 holes previously drilled on the property and by completing a compilation of historical mining and exploration information at the Golden Rose property and the surrounding area. The results of these exploration and compilation activities are being interpreted in preparation for an initial phase of drilling planned to commence this summer.