Conquest further consolidates Temagami Mining Camp with acquisition of 93 Square km
Conquest Resources Limited has almost doubled its land holdings in the Temagami Mining Camp located northeast of Sudbury through the staking of 588 mining cells, encompassing approximately 93 sq km., centered on Belfast Township, adjacent to the Company's recently consolidated land packages as a result of completion of the acquisition of Canadian Continental Exploration Corp.
(Photo: Historic Golden Rose Mine miners)
In addition to the 588 cells, four staked claims were purchased from a third party for $10,000.00 and 100,000 shares of Conquest, subject to the approval of the TSX Venture Exchange.
Conquest now controls over 220 sq km of underexplored territory, including the past producing Golden Rose Mine at Emerald Lake, in the Temagami Mining Camp located northeast of Sudbury, Ontario.
Belfast Township is located on the edge of the Temagami Magnetic Anomaly which is thought to be responsible for a massive hydrothermal alteration event and crustal disruption in the region. Regional geophysical surveys show large areas of magnetic and gravity signatures consistent with a large NW-SE trending structural corridor.
The new project, to be known as the Belfast Project, is a culmination of many years of data gathering, geological interpretation, and field work performed by the exploration technical team of Kevin Stevens (Geophysicist), Joerg Kleinboeck (Geologist) and Tom Obradovich (Mining Executive), who have identified several potential target areas for various styles of potentially economic mineralization, including magmatic Ni-Cu-PGE, IOCG, VMS, Iron hosted Au, and Paleo-placer Au.
The Board had awarded an incentive bonus to the initiators of the Belfast Project in the form of the grant of a net smelter royalty of 0.5 % on the Belfast property payable to each of Stevens, Kleinboeck and Obradovich.
Airborne Geophysics Program
A contract has been awarded to Geotech Airborne Surveys to cover the area of the Belfast Project and part of the adjacent Eaglerock Lake and Golden Rose properties with over 2100-line kilometers of V-TEM Max electromagnetic and high-resolution magnetic surveys and which will also extend to the east the airborne survey completed by Conquest over the Golden Rose property in 2018. The survey will assist in targeting potential mineral deposits beneath a thin veneer of cover rocks persistent in the area with indications of Volcanogenic Massive Sulfide potential and Sudbury style high-grade Cu-Ni-PGE deposits.
Drilling continues at Golden Rose
The Phase I, 5000-meter diamond drilling continues at the Conquest's Golden Rose Project.
Drill hole GRW20-01 successfully intersected the projected down-faulted extension of the host iron formation for the Golden Rose gold mineralization approximately 400m west of the previous limit of the historic mineralization at the Golden Rose Mine. Drill results will be released over the next few months as they become available.
After the completion of drill hole GRW20-01, several drill holes will be completed over the historical mine workings where potential down-dip and down plunge extensions of historical mineralization will be tested. This will then be followed by testing several magnetic anomalies and coinciding Mobile Metal Ions ("MMI") and B-Horizon gold-in-soil anomalies over a strike length of 3 km, with follow up drilling of favourable results in a Phase II program scheduled in the first quarter of 2021.
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