Belfast – Teck Mag Project
Emerald Lake, ON
- Over 350 sq. km. land package comprising five properties in the Temagami Mining Camp, located northeast of Sudbury, Ontario, namely the Belfast Copper Property, the TeckMag Property, Golden Rose Property and the recently acquired DGC Property and JPC Property.
- Our project is part of an Emerging Sudbury 2.0 trend that is targeting mineralization above the Temagami Magnetic Anomaly, a large magnetic, dense and conductive anomaly that may be related to the Sudbury Basin, one of the most prolific mining camps in Canada.
- Situated in a known, productive mining jurisdiction; nearby mines, smelters and exploration projects targeting similar mineralization (Vale’s Copper Cliff Complex, Glencore’s Nickel Rim South Mine and Sudbury Smelter and Inventus Mining’s Sudbury 2.0 Project)
- The Temagami Mining Camp area is considered under-explored for two main reasons:
- A 20-year land caution prohibited mining and exploration until the late 1990’s
- Favorable Temagami Greenstone Belt is thickly overlain by Nipissing diabase and Huronian-aged sedimentary rocks (Cover Rock)
- The Belfast – Teck Mag Property has exceptional exploration upside for several deposit types including magmatic Copper-Nickel-Platinum Group Elements (Cu-Ni-PGE) and Volcanogenic Massive Sulphides.
- The Belfast- TeckMag Property has exceptional exploration upside for several deposit types including magmatic Copper-Nickel-Platinum Group Elements (Cu-Ni-PGE), Volcanogenic Massive Sulphides (VMS), Iron Oxide Copper Gold (IOCG), Iron hosted Gold, and Paleo-placer Gold.
Belfast Copper Project:
- Our flagship project, is a culmination of many years of data gathering, geological interpretation, and field work performed by our exploration team, 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.
- After modeling and filtering with the data gathered from our 2,300 line-km VTEM MAX Airborne survey, as well as Ground Gravity Surveys, our team identified over 30 geophysical targets.
- Conquest commenced a 10,000m Phase 1 Drilling program in early June 2021 and since then has completed 23 drill holes and an aggregate of 7,376 metres. The program remains on budget and is expected to be complete by the end of Q1 2022.
- To date, we’ve identified a 1 km-long zone of interest, with substantial Cu mineralisation and elevated Au values.Drill Holes BC21-05 and BC21-11 intersected the anomalous VMS copper horizon within east-west oriented magnetic zones (See Below).
- Drill Hole BC21-05 – Intersected sections of disseminated to semi-massive pyrrhotite, pyrite, and chalcopyrite mineralization in the form of disseminations, sulphidic horizons, and breccia units over a core length of 26 meters.
- Drill Hole BC21-11 – Intersected numerous zones of pyrrhotite, pyrite, and chalcopyrite within chlorite-altered metasediments, in the form of sulphidic horizons and disseminations.
- Drill Hole BC21-02 – intersected sections of semi-massive to massive sulphides over a 5-meter core length.
- Drill Holes BC21-21 & BC21-22 – tested BHEM anomalies proximal to drill hole BC21-05. Sulphides consisting of pyrrhotite with lesser amounts of chalcopyrite and pyrite have been intersected in the holes. Logging and sampling is currently in progress on these holes.
- Phase 1 Drilling is expected to be completed by Q4 2021. An aggressive Phase 2 diamond Drilling program is scheduled to begin upon the discovery of any potential economic mineralization during the Phase 1 Drill program and fully executed by the end of Q4 2021, including the interpretation of drill results.
Recently Consolidated Land Packages
- In March 2021, the Company entered into a Purchase and Sale Agreement with Teck Resources Limited (“Teck”) whereby Conquest acquired a 100% interest in the DGC Ni-Cu-PGE property located in Afton Township, Ontario.
- The DGC property is located in the central portion of our claim group covering the central portion of the Temagami Magnetic Anomaly, which is adjacent to the Sudbury Igneous Complex, one of the largest positive magnetic anomalies in North America.
- Prior to the acquisition of Canadian Continental Exploration Corp. (CCEC) by Conquest Resources Ltd, CCEC drill-tested the DGC claims with a 2,200m hole in 2014. Hole AT14-01 intersected a quartz diorite dike at depth of 1,989m, similar to mineralized dikes associated with the Sudbury Igneous Complex.
- In another separate transaction during March 2021, Conquest acquired the JPC Property in the Clement Township of Ontario on our Belfast – Teck Mag Property.
- The 1786.5-hectare JPC property is located to the south east of Conquest’s Golden Rose Property.
Golden Rose Property:
- The Company holds 4 mining leases and 773 mining claim cells, collectively known as the Golden Rose Property situated in Afton and Scholes Townships at Emerald Lake approximately 65 kilometers northeast of Sudbury, Ontario.
- Between 1915 and 1988, mining operations at the Golden Rose Gold Mine produced approximately 52,000 oz of gold from structurally controlled, high-grade quartz-pyrite veins, hosted almost exclusively within the banded iron formations.
- Surface drilling between 1984 and 2011 identified significant gold mineralization down-dip and down-plunge of the historical underground workings
- The Golden Rose mine (currently flooded) consists of more than six kilometers of underground workings, as well as a 3 compartment, 228-meter-deep shaft, and a modern decline ramp from surface to the 6th level of the mine.
- Conquest has entered into a Memorandum of Understanding with the Temagami First Nation and Teme Augama Anishnabai regarding the Company’s exploration activities on the Belfast-TeckMag Property which is situated within the traditional lands and waterways occupied and used by the Temagami First Nation/Teme Augama Anishnabai.
- A portion of the Golden Rose property is subject to a 1.5% Net Smelter Return (“NSR”) in favor of Osisko Gold Royalties Ltd., and the leased mining claims are subject to a 2% NSR in favor of EnerMark Inc.
- Conquest has completed nine diamond drill holes in BIF hosted Au targets and one drill hole targeting an EM anomaly on the Golden Rose Property
- Golden Rose Property Drill Highlights;
- Hole GRW20-01 – successfully intersected the projected down-faulted extension of the host iron formation for the Golden Rose gold mineralization approx. 400 m west of the previous limited of the historic mineralization at the Golden Rose Mine. Anomalous gold mineralization was encountered in the drill hole.
- Holes GR20-01 through to GR20-04 – Completed over the historical mine workings that tested potential down-dip and down plunge extension of historical mineralization. The drill holes intersected narrow high-grade gold mineralization.
- Hole GR20-05 – Tested a magnetic anomaly 700 m east of the mine workings along the projected strike of the iron formation hosting the past-producing Golden Rose Mine.
Airborne Geophysical Program:
- In February 2021, the Company completed its VTEM max electromagnetic and high-resolution magnetic survey, conducted by Geotech Airborne Surveys, consisting of over 2,319 line-kilometers to cover the area of the Belfast Copper and Golden Rose Properties.
- The survey has assisted in targeting potentially covered Volcanogenic Massive Sulphide (VMS), high-grade Cu-Ni-PGE, and IOCG mineralization on the Belfast – TeckMag Property.
- The survey idenfitied numerous conductive zones, some along the projected strike of Teck’s past producing Copperfields Mine
- In July 2021, the Company completed a 155 line-kilometer airborne MobileMT survey west of Emerald Lake.
- The results from the survey revealed a large area of low resistivity south of the TeckMag leases and away from the main IF trend and is encouraging for exploration for both Archean VMS and mafic intrusive related deposits.
Ground Geophysical Program
- In August 2021, down hole geophysical electromagnetic (BHEM) surveys were completed on drill holes BC21-02, BC21-05, BC21-11, and BC21-15.
- The downhole surveys in the BC21-05 to BC21-11 mineralized corridor detected a widespread area of conductive, sulphide-bearing, source rocks within the copper-bearing horizon extending over an area of over 200 meters by 200 meters, extending from holes BC21-05 and BC21-11, and over depth intervals of 100 m and 200 m respectively.
- A detailed target interpretation of the geologic and geophysical data (VTEM, BHEM and vertical gradient magnetics) suggests a follow up drill program targeting the extents of the local West to East trending series of discrete magnetic signatures, which coincide with the location of the newly discovered copper-rich base metal zone.
- Including the weaker responses, two local areas of anomalous VTEM response can be outlined and isolated from the Eaglerock and Emerald Lake areas.
- Drill holes BC21-05 and BC21-11 intersected the anomalous copper horizon within the west to east oriented magnetic responses. The subsequent BHEM surveys reveal near field conductors that are also largely within the magnetic expressions and/or near magnetic edges.
- Follow up drilling on these targets is expected to be completed in Q1 of 2022.