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About Conquest Resources Limited (CQRLF)
Conquest Resources Limited, incorporated in 1945, is a Canadian mineral exploration company dedicated to uncovering high-value mineral deposits in Ontario, Canada. With a strategic focus on base metals and precious metals, Conquest leverages advanced exploration techniques, including artificial intelligence (AI), to enhance its ability to identify and develop mineral-rich properties. The company's innovative approach positions it as a key player in the mining and exploration industry, particularly within underexplored regions.
Flagship Property: Belfast-TeckMag Project
Conquest's flagship asset, the Belfast-TeckMag Project, spans over 300 square kilometers in the Temagami Mining Camp, located northeast of Sudbury, Ontario. This property is highly prospective for a range of mineral deposit types, including magmatic sulphide deposits (copper-nickel-platinum group elements), volcanic massive sulphides (VMS), iron oxide-copper-gold (IOCG) systems, and gold deposits. The project has been significantly enhanced through strategic acquisitions, including the Golden Rose Project and Canadian Continental Exploration Corp., as well as additional claim staking and property purchases.
Innovative Exploration with AI Technology
Conquest has partnered with VerAI Discoveries Inc., an AI-driven mineral discovery generator, to integrate cutting-edge technology into its exploration programs. This collaboration utilizes VerAI's proprietary AI Discovery Platform to identify high-probability drilling targets, significantly reducing exploration time and costs. The AI technology has already generated multiple high-priority targets at the Belfast-TeckMag Project, showcasing its potential to uncover concealed mineral deposits in complex geological settings.
Other Strategic Assets
In addition to the Belfast-TeckMag Project, Conquest holds a 100% interest in several other properties, including:
- Alexander Gold Property: Located in the Red Lake Gold Camp, this property is strategically positioned near major producing mines and along the "Mine Trend" structure.
- Smith Lake Gold Property: Situated in a historically significant gold-producing region.
- Lake Nipigon Basin Property: A promising exploration area with potential for mineral discoveries.
Exploration Expertise and Industry Position
Conquest's exploration programs are guided by a team of experienced geologists and industry professionals. The company's technical expertise is complemented by its strategic use of AI and geophysical surveys, such as airborne electromagnetic and magnetic surveys, to refine its targeting approach. By focusing on underexplored and highly prospective regions, Conquest aims to unlock significant mineral resources that contribute to the global supply of critical and precious metals.
Competitive Edge
In a competitive landscape, Conquest differentiates itself through its innovative use of AI technology, its extensive land holdings in prime mining jurisdictions, and its commitment to efficient and cost-effective exploration. These factors, combined with its diversified portfolio and strategic partnerships, position Conquest as a forward-thinking and adaptable player in the mineral exploration industry.
Conquest Resources has completed its first phase 3,549m drill program with VerAI Discoveries at the Belfast-TeckMag Project in Ontario. The program tested four AI-generated targets, with three showing potential mineralized systems. The most promising results came from the Eaglerock target, where drilling identified a potential copper, zinc, and gold-bearing VMS system.
Notable intersections include 0.83% Cu over 0.50m in drillhole BC24-33 and anomalous Cu mineralization over 33.50m in BC24-32. The Eaglerock target spans 2km in length and showed sulphidic horizons with chalcopyrite and sphalerite mineralization. The partnership with VerAI, established in April 2024, involves a 1.5% NSR royalty agreement and funding for the drill program.
Conquest Resources (TSXV: CQR) has announced the commencement of a 3,000 m diamond drill program on its Belfast TeckMag Project near Sudbury, Ontario. This follows the exercise of a Royalty Option Agreement by VDI Resources , a subsidiary of VerAI Discoveries Inc. VerAI has been granted a 1.5% net smelter return royalty on certain target areas, with an additional 1.5% NSR in exchange for funding the drill program.
The program will test four high-priority targets identified by VerAI's proprietary AI technology. These targets are located near where Conquest previously discovered anomalous hydrothermal copper mineralization in 2021 and 2022. The AI analysis has identified seven separate areas with signatures similar to the geological setting of the past-producing Copperfields Mine.
Conquest Resources (TSXV: CQR) has announced the grant of 4,000,000 incentive stock options under its Stock Option Plan, representing 2.95% of currently issued shares. The options were distributed to directors, officers, consultants, and other service providers. Key allocations include:
- 500,000 options to John Kearney, Chairman
- 1,200,000 options to Tom Obradovich, CEO
- 500,000 options to Tong Yin, CFO
- 400,000 options to Chair of Audit Committee
- 300,000 options each to two independent directors
- 800,000 options to consultants and other service providers
All options are exercisable at $0.05 per share for a five-year term and will vest immediately.
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