Conquest Resources Limited
TSX VENTURE : CQR

Conquest Resources Limited

April 08, 2009 13:24 ET

New OGS Regional Aeromagnetic Survey Shows Four Structurally Favorable Horizons on Conquest's Detour Lake Properties

TORONTO, ONTARIO--(Marketwire - April 8, 2009) - Conquest Resources Limited (TSX VENTURE:CQR) is pleased to report that a newly published Ontario Geological Survey (OGS) regional airborne magnetic survey has identified four structural trends with prospectivity for gold mineralization within Conquest's two properties in the Detour Lake gold camp.

On March 31, 2009, new airborne magnetometer data was released by the OGS (Geophysical Data Set 1062). The data, part of the Timmins Economic Development Corporation and Discover Abitibi Initiative, provides high resolution aeromagnetic survey data for the Detour Lake area. Approximately 21% of the area surveyed comprises mineral claim holdings held by Conquest at Detour Lake.

A preliminary evaluation of the new geophysical data suggests four structurally favorable horizons transect Conquest's Detour Lake properties consisting of the Aurora and Sunday Lake claims.

- Evaluation of the data confirms that Conquest's Sunday Lake claims, which lie immediately to the east of Detour Gold Corp's proposed new mine, are associated with the same deformation trend - the Sunday Lake Fault which hosts the proposed open pit

- The interpretation also suggests three additional deformation horizons with potential for untested gold mineralization lie within Conquest's Aurora claims at Detour Lake. The northern-, central-, and southern- structural breaks identified in the Lower Detour Lake Deformation Zone at Aurora are more precisely resolved in the new airborne data set while other, second order lineations, appearing between these breaks suggest a more complex structural disturbance than identified in previous exploration work. These areas of interest appear to have very similar geophysical (magnetic) characteristics to the area known to host the Detour Lake gold deposit.

Conquest's Aurora and Sunday Lake claims at Detour Lake total 88 square kilometers and are surrounded by Detour Gold Corp's Detour Lake gold development property. The Detour Lake Deposit is currently subject of a feasibility study on the development of a 13.2 million ounce gold open pit resource which lies approximately 500 metres immediately to the north of Conquest's Aurora claims. The Detour Lake gold camp lies within the prolific Abitibi Greenstone Belt. The Abitibi Belt has a history of world-class production from over 100 gold mines totaling nearly 200 million ounces of gold in historic production and current resources.

ABOUT CONQUEST RESOURCES

Conquest is exploring several gold projects in Ontario. These include the Alexander gold project at Red Lake; the Aurora and Sunday Lake gold projects at Detour Lake; the King Bay gold project at Sturgeon Lake (60% interest); and the Smith Lake gold project at Missanabie.

There are currently 72,663,830 shares of Conquest issued and outstanding.

This release has been prepared under the supervision of Terence N. McKillen, P. Geo. who is a qualified person under NI 43-101. This news release includes 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Conquest Resources Limited
    Terence N. McKillen
    President & CEO
    (647) 728-4126
    or
    Conquest Resources Limited
    D. Brett Whitelaw
    Vice-President
    (604) 662-8633
    or
    Conquest Resources Limited
    John F. Kearney
    Chairman
    (416) 362-6686
    info@conquestresources.net
    www.conquestresources.net