Resource News

Conquest Resources Limited (TSXV: CQR) ("Conquest" or the "Company") is pleased to announce it has entered into an option agreement (the "Agreement") to acquire 100% of the Marr Lake Cu-Ni-PGE Property ("Property"). The Property is a grass roots property that is prospective for Cu-Ni-PGE and Li mineralization in an area that has seen limited exploration in the past.

The Property is located 70 km southwest of Atikokan, Ontario, and is contiguous with Green Technology Metals Wisa Lake Property that hosts Li-Ta bearing pegmatite dyke swarms that have been mapped over a strike length of 1.5 km, with widths of up to 20 m having been reported. President and CEO Tom Obradovich stated, "The Marr Lake Project underlines Conquests focus on critical metals with potential for Cu-Ni-PGE and Lithium. Our Nipigon Basin Project has Uranium in addition to NI-Cu-PGE targets and our Temagami Belfast Project is currently being explored for Ni-Cu PGE as well as IOCG potential."

The Project falls within the Quetico Subprovince and is primarily underlain by east-west striking metasedimentary rocks that have a mixed clastic composition and are wacke dominated with lesser amounts of conglomerates, mudstones, and carbonates that have been intruded by granitic plutons and ultramafic intrusions. The Property hosts the Marr Lake Ultramafic Intrusive that is interpreted for the most part to fall under the waters of Marr Lake and forms a 500 m by 100 m magnetic feature. The Marr Lake Ni-Cu-PGE occurrence is located along the northeast shoreline where in 2005, a claim owner/geologist collected three samples from a 60 m wide pyroxenite dyke that averaged 1.1% Cu, 0.20% Ni, 0.02% Co, 6 g/t Ag, 1.3 g/t Pt, 1.3 g/t Pd, and 0.40 g/t Au (20003485).

In 2015, the Ontario Geological Survey ("OGS") completed a magnetic and gamma-ray spectrometric survey (GDS 1077) that covered a portion of the Property, and identified a magnetic feature at the edge of the survey that may represent an unrecognized ultramafic intrusive.

As well, in 2003, the OGS, under Operation Treasure Hunt, completed a report titled "Fertile Peraluminous Granites and Related Rare-Element Mineralization in Pegmatites, Superior Province, Northwest and Northeast Ontario" (OFR 6099) where the authors recognized the potential for additional rare-element pegmatites to be found in the Wisa Lake area.

Conquest has contracted Prospectair Geosurveys Inc. to complete a high-resolution airborne magnetic survey totaling 535 line-km flow at 50 m line spacings. The survey will commence mid-July, and will assist with prospecting programs planned for August.

Terms of option:

Under the terms of the option agreement, Conquest can earn a 100% interest in the Marr Lake Project by making cash payments of $92,000.00 and issuing 940,000 shares over a period of three years. The property is subject to a 2% NSR which the Company has a right to buy back 1% at any time for $1 million.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7183/130170_166a7457a4171b46_002.jpg

Figure 1

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7183/130170_166a7457a4171b46_002full.jpg

ABOUT CONQUEST

Conquest Resources Limited, incorporated in 1945, is a mineral exploration company that is exploring for base metals and gold on mineral properties in Ontario.

Conquest holds a 100% interest in the Belfast - Teck Mag Project,located in the Temagami Mining Camp at Emerald Lake, approximately 65 kilometers northeast of Sudbury, Ontario, which hosts the former Golden Rose Gold Mine and is underlain by highly prospective Abitibi greenstone geology along a strike length of seventeen (17) kilometers.

In October 2020, Conquest completed the acquisition of Canadian Continental Exploration Corp. which holds an extensive package of mining claims which surround Conquest's Golden Rose Mine, and subsequently doubled its land holdings in the Temagami Mining Camp through the staking of 588 mining cells, encompassing approximately 93 sq km., centered on Belfast Township, on the edge of the Temagami Magnetic Anomaly.

Conquest now controls over 300 sq km of underexplored territory, including the past producing Golden Rose Mine at Emerald Lake, situated in the Temagami Mining Camp.

Conquest also holds a 100% interest in the Alexander Gold Property located immediately east of the Red Lake and Campbell mines in the heart of the Red Lake Gold Camp on the important "Mine Trend" regional structure. Conquest's property is almost entirely surrounded by Evolution Mining land holdings.

In addition, Conquest owns a 100% interest in the Smith Lake Gold Property of six patented claims and 181 staked mining claims to the north, west and south of the former Renabie Gold Mine in Rennie Township in northern Ontario, operated by Corona and Barrick that had reported gold production of over 1,000,000 ounces between 1947 and 1991 (Northern Miner March 4, 1991).

FOR FURTHER INFORMATION CONTACT:
general@conquestresources.com
www.conquestresources.com

Tom Obradovich
President & Chief Executive
416-985-7140

Forward-looking statements. 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 the completion of the Acquisition and the Consolidation, the release of escrowed funds, future cash on hand, 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 TSXV nor its Regulation Services Provider (as defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130170

News Provided by Newsfile via QuoteMedia

CQR:CA
Conquest Resources Options Golden Rose Project to Atha Energy Corp.

Conquest Resources Options Golden Rose Project to Atha Energy Corp.

Conquest Resources Limited (TSXV: CQR) ("Conquest" or the "Company") announces that it has entered into an agreement whereby it has granted an option to Atha Energy Corp.("Atha") to acquire up to 100% undivided interest in mineral leases known as the Golden Rose Property located in the Sudbury Mining District, Ontario. To fully execute the option, Atha must issue an aggregate of 1,500,000 shares of Atha and make cash payments of $1,000,000.00 over a period of 36 months. Atha has also agreed to Conquest a 1.0 % net smelter return on the Golden Rose Project.

ABOUT CONQUEST

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Conquest Reports 2022 First Quarter Results and Signs $200K OJEP Funding Agreement

Conquest Reports 2022 First Quarter Results and Signs $200K OJEP Funding Agreement

Conquest Resources Limited (TSXV: CQR) ("Conquest") reports its first quarter results for the three months ended March 31, 2022.

This news release should be read in conjunction with the Company's unaudited interim consolidated financial statements and the associated management's discussion and analysis (MD&A) for the three months ended March 31, 2022 which are available on the Company's website at www.conquestresources.com or under the Company's profile at www.sedar.com.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Conquest Resources Announces Engagement of Simone & Co LLP Chartered Professional Accountants

Conquest Resources Announces Engagement of Simone & Co LLP Chartered Professional Accountants

Conquest Resources Limited (TSXV: CQR) ("Conquest") is pleased to announce that it has engaged Simone & Co. LLP as auditors. Simone provides services to both private and public companies.

Conquest would like to thank McGovern Hurley LLP for their years of high-level professional service and wish them continuing growth and success for the future.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Conquest Resources Secures Uranium and Ni-Cu-PGE Exploration Property in the Black Sturgeon Lake Area, Lake Nipigon, Ontario and Reports Third Quarter Results 2021

Conquest Resources Secures Uranium and Ni-Cu-PGE Exploration Property in the Black Sturgeon Lake Area, Lake Nipigon, Ontario and Reports Third Quarter Results 2021

Conquest Resources Limited (TSXV: CQR) ("Conquest") is pleased to announce today that it has entered into a Purchase and Sale Agreement with Stevens Geophysics Inc. (SGI), whereby Conquest will acquire a 100% interest in the Nipigon Rift Property located south of Black Sturgeon Lake, Nipigon, Ontario. 

Conquest can earn a 100% interest in the Nipigon Rift Property, comprised of 100 contiguous cells by issuing 200,000 shares per year over 4 years, and spending $400,000 on exploration of the Property, subject to a 2% NSR with a buy-back of 1% at any time for $1,000,000.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Conquest Discovers Cu-rich VMS system at the Belfast-TeckMag Project

Conquest Resources Limited (TSXV: CQR) ("Conquest") is pleased to provide an update on its Phase 2 Drill Program on the Belfast-TeckMag Project.

In June 2021, Conquest announced the commencement of a 10,000 m diamond drill program on its 100% owned Belfast-TeckMag Project (Figure 1). To date, sixteen drill holes totaling an aggregate of 5,699 m have been completed that tested a variety of regional targets generated from Conquest's completion and interpretation of Geotech VTEM and regional magnetic surveys (2018, 2021), follow-up ground geophysical surveys, as well as targets generated from reviewing historical data. Assay results have been received for drill holes BC21-02 through to BC21-13, and are reported below. No significant results were returned for drill holes BC21-06, -09, -12, and -13.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
What is a Preliminary Economic Assessment?

What is a Preliminary Economic Assessment?

Knowing what a preliminary economic assessment is will help new market participants better understand news from mineral resource issuers and mining projects.

A preliminary economic assessment, sometimes abbreviated as PEA, is defined as a study that includes an economic analysis of the potential viability of a project’s mineral resources.

PEAs are completed before prefeasibility and feasibility studies, and are an important step in determining whether a company should develop a mineral resource project.

Keep reading...Show less
Anson Resources

Anson Targets New Zones in Resource Expansion Drilling at Paradox Lithium Project

Brines Sampled in Clastic Zones 41, 43, 45 & 47

Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce that it has successfully drilled additional new zones at the priority Cane Creek 32-1 well in its ongoing Resource expansion drilling program at its Paradox Lithium Project in Utah, USA (the Project).

Keep reading...Show less
Burley Minerals Ltd

Burley Obtains Drilling Approvals For Yerecoin Iron Project

Emerging mineral explorer, Burley Minerals Ltd (Burley or the Company) (ASX: BUR) is pleased to announce approvals for its maiden drill campaign at its 70% owned Yerecoin Iron Project, in Western Australia which has not been drilled in over 13 years. The initial drilling programme has DMIRS PoW’s allowing for up to 33-holes consisting of a combination of both RC and diamond drilling at the Yerecoin Main deposits. Magnetite resource areas are targeted for infill drilling to upgraded Resource confidence and provide sufficient metallurgical samples.

Keep reading...Show less
SouthGobi Announces Second Quarter 2022 Financial and Operating Results

SouthGobi Announces Second Quarter 2022 Financial and Operating Results

SouthGobi Resources Ltd. (Toronto Stock Exchange ("TSX"): SGQ, Hong Kong Stock Exchange ("HKEX"): 1878) (the "Company" or "SouthGobi") today announces its financial and operating results for the three and six months ended June 30, 2022. All figures are in U.S. dollars ("USD") unless otherwise stated

Significant Events and Highlights

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Natural Resource Partners L.P. Establishes Five-Year Credit Facility Maturing August 2027

Natural Resource Partners L.P. Establishes Five-Year Credit Facility Maturing August 2027

Natural Resource Partners L.P. (NYSE: NRP) announced today it successfully completed an amendment and five-year extension of NRP Operating's revolving credit facility. Lender commitments are $102.5 million, and additional commitments can be added to expand the facility to $132.5 million.

"This new five-year credit facility will provide significant liquidity and allow us to accelerate the repayment of our 2025 Senior Notes and Preferred Units," said Craig Nunez, NRP's president and chief operating officer.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Enterprise Group Announces Results for Second Quarter 2022

Enterprise Group Announces Results for Second Quarter 2022

Enterprise Group, Inc. (TSX: E) (the "Company" or "Enterprise"). Enterprise, a consolidator of energy services (including specialized equipment rental to the energyresource sector), emphasizing technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for small to Tier One resource clients, is pleased to announce its Q2 2022 results.

Three months
June 30, 2022
Three months
June 30, 2021
Six months
June 30, 2022
Six months
June 30, 2021
Revenue$5,297,685 $3,225,543 $12,927,103 $9,084,830 
Gross margin$1,610,18830%$580,31218%$5,131,97340%$3,306,69936%
Adjusted gross margin(1)(2)$1,610,18830%$120,9504%$5,131,97340%$2,046,82123%
Adjusted EBITDA(1)(2)$1,015,97819%$(394,835)(12)%$4,045,80331%$1,070,54712%
Net (loss) income and comprehensive (loss) income$(513,268) $(1,626,547) $1,164,744 $(1,532,910) 
(Loss) income per share - Basic$(0.01) $(0.03) $0.02 $(0.03) 
(Loss) income per share - Diluted$(0.01) $(0.03) $0.02 $(0.03) 


(1) Identified and defined under "Non-IFRS Measures".

(2) The Canadian Emergency Wage Subsidy and Rent Subsidy Programs ended in October 2021. Starting in Q4 2021 to provide further comparability to pre-COVID operations, the Company has presented an Adjusted Gross Margin and Adjusted EBITDA to reflect the results of operations without any subsidy programs.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×