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Conquest Resources expands search for Copper-Nickel-PGE, VMS and IOCG mineralization within Temagami Anomaly

Apr 13, 2021

Conquest Resources Limited is planning a 10,000 m drill program to test numerous geophysical anomalies derived from a combination of Airborne EM/Magnetics and ground Gravity surveys. Airborne surveys were completed at the end of February this year and the final refined data is expected this week. Final corrected data from 255 Ground gravity stations completed by Clearview Geophysics in early April at locations within the company's 260 sq/km TeckMag/Belfast Copper Project have been received.

Conquest's Chief Geophysicist stated "The completion of the 255-site ground gravity survey on 5 grids marks the beginning of Conquest Resources ground exploration program on the Belfast Copper Project following the high resolution and deep penetrating airborne VTEM max survey completed earlier this year. Synthesis of these data sets with the geologic compilation and ground mapping is ongoing. Notably we have already identified the locations of coincident signatures of magnetic and conductive responses associated with the properties geologies permissive for VMS(Cu), mafic intrusive deposits (Cu-Ni-Pge) and BIF(Au) in south Scholes and Phyllis Townships. Of particular interest in the north part of the project area, are three discrete coincident magnetic and gravity responses identified within a large crosscutting structural corridor in north Belfast and Joan Townships (fig. 1). These buried targets range in diameter from 0.5km to 1.5km and located in areas of known near surface Cu/Au occurrences, local anomalous lake sediment geochemistry (including PGE's and Rare Earth Elements) and underlying structures and geology that may be associated with Olympic Dam style IOCG deposits located within the central region of the Temagami Geophysical Anomaly."

Phase one drilling was suspended until May due to an early spring which made conditions unsafe for transportation of men and materials to the drill sites. Field personnel are currently working on logistics to establish access to over thirty drill pads (see fig. 2) for the expanded Phase 1 drill program. The Phase 1 drilling is expected to be completed by Q3 2021. Follow up Phase 2 drilling on any potential economic mineralization discovered during the Phase 1 drill program will be executed in Q4 2021. Recent encouraging results reported by other companies along with the mineralization mined at Teck Resources former past producing Copperfields Mine has given Conquest confidence that more mineral deposits exist within the area of the Temagami Geophysical Anomaly. (fig 3)

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Figure 1 - East Temagami Anomaly Magnetics and Five Gravity grids (white), VTEM outline (red), structural corridor (dashed)


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