Conquest' Drill Testing of VerAI AI-generated Targets Identifies Potential VMS System at Its Belfast-TeckMag Project
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 ha completato la sua prima fase del programma di perforazione di 3.549m con VerAI Discoveries presso il progetto Belfast-TeckMag in Ontario. Il programma ha testato quattro obiettivi generati dall'IA, di cui tre mostrano potenziali sistemi mineralizzati. I risultati più promettenti sono arrivati dall'Eaglerock target, dove la perforazione ha identificato un potenziale sistema VMS contenente rame, zinco e oro.
Le intercettazioni significative includono 0.83% di Cu su 0.50m nella perforazione BC24-33 e mineralizzazione anomala di Cu su 33.50m in BC24-32. L'obiettivo Eaglerock si estende per 2km di lunghezza e ha mostrato orizzonti solfidici con mineralizzazione di calcopirite e sfalerite. La partnership con VerAI, stabilita nell'aprile 2024, prevede un accordo di royalties NSR del 1.5% e finanziamenti per il programma di perforazione.
Conquest Resources ha completado su primera fase de 3.549m del programa de perforación con VerAI Discoveries en el proyecto Belfast-TeckMag en Ontario. El programa probó cuatro objetivos generados por IA, de los cuales tres muestran sistemas mineralizados potenciales. Los resultados más prometedores provienen del objetivo Eaglerock, donde la perforación identificó un sistema VMS potencial que contiene cobre, zinc y oro.
Las intersecciones notables incluyen 0.83% de Cu sobre 0.50m en la perforación BC24-33 y mineralización anómala de Cu sobre 33.50m en BC24-32. El objetivo Eaglerock se extiende a lo largo de 2km y mostró horizontes sulfurosos con mineralización de calcopirita y esfalerita. La asociación con VerAI, establecida en abril de 2024, implica un acuerdo de regalías NSR del 1.5% y financiamiento para el programa de perforación.
Conquest Resources는 온타리오의 벨파스트-텍막 프로젝트에서 VerAI Discoveries와 함께 3,549m 드릴 프로그램의 첫 번째 단계를 완료했습니다. 이 프로그램은 네 개의 AI 생성 목표를 테스트했으며, 그 중 세 개가 잠재적인 광물화 시스템을 보여주었습니다. 가장 유망한 결과는 Eaglerock 목표에서 나왔으며, 여기서 드릴링을 통해 구리, 아연 및 금을 포함한 VMS 시스템의 잠재성을 확인했습니다.
주목할 만한 교차 지점은 드릴홀 BC24-33에서 0.50m에 대해 0.83% Cu와 BC24-32에서 33.50m에 걸쳐 비정상적인 Cu 광물화가 포함됩니다. Eaglerock 목표는 2km 길이로 확장되며, 칼코파이리트와 스팔레라이트 광물화가 있는 황화 지대를 보여주었습니다. 2024년 4월에 확립된 VerAI와의 파트너십은 1.5% NSR 로열티 계약 및 드릴 프로그램을 위한 자금 지원을 포함합니다.
Conquest Resources a achevé la première phase de son programme de forage de 3.549m avec VerAI Discoveries au projet Belfast-TeckMag en Ontario. Le programme a testé quatre cibles générées par IA, dont trois montrent des systèmes minéralisés potentiels. Les résultats les plus prometteurs proviennent de la cible Eaglerock, où le forage a identifié un système VMS potentiel contenant du cuivre, du zinc et de l'or.
Les intersections notables incluent 0,83 % de Cu sur 0,50 m dans le trou de forage BC24-33 et une minéralisation de Cu anormale sur 33,50 m dans BC24-32. La cible Eaglerock s'étend sur 2 km de long et a montré des horizons sulfidés avec de la minéralisation en chalcopyrite et sphalérite. Le partenariat avec VerAI, établi en avril 2024, implique un accord de redevance NSR de 1,5 % ainsi que le financement du programme de forage.
Conquest Resources hat seine erste Phase des 3.549m Bohrprogramms mit VerAI Discoveries im Belfast-TeckMag-Projekt in Ontario abgeschlossen. Das Programm testete vier KI-generierte Zielgebiete, von denen drei potenzielle mineralisierte Systeme zeigten. Die vielversprechendsten Ergebnisse kamen vom Eaglerock-Ziel, wo beim Bohren ein potenzielles VMS-System mit Kupfer, Zink und Gold identifiziert wurde.
Bemerkenswerte Schnittstellen sind 0,83 % Cu über 0,50 m im Bohrloch BC24-33 und anomale Cu-Mineralisierung über 33,50 m in BC24-32. Das Eaglerock-Ziel erstreckt sich über eine Länge von 2 km und zeigte sulfidische Horizonte mit Mineralisierung von Chalkopyrit und Spalerit. Die Partnerschaft mit VerAI, die im April 2024 gegründet wurde, umfasst eine NSR-Royalty-Vereinbarung von 1,5 % sowie eine Finanzierung für das Bohrprogramm.
- Identification of potential VMS system with Cu-Zn-Au mineralization at Eaglerock target
- Significant copper intersection of 0.83% Cu over 0.50m in drillhole BC24-33
- Three out of four AI-generated targets showed mineralized systems
- Rapid execution from partnership to drilling completion in under six months
- Two holes at Manitou target failed to reach target horizon
- No significant mineralization intercepted at Emerald target
Toronto, Ontario--(Newsfile Corp. - February 11, 2025) - Conquest Resources Limited (TSXV: CQR) ("Conquest") is pleased to announce the completion of its first phase, 3,549 m drill program, with exploration partner VerAI Discoveries Inc. ("VerAI"), on the Belfast-TeckMag Project located in southern Ontario, Canada.
Highlights
- Potential copper, zinc, and gold bearing VMS system identified on the Eaglerock target
- Drilling established a potential mineralized system in three of four priority AI targets drilled
- Rapid deal execution from deal signing to target drilling completion in < six months
- Large, new prospective area under cover opened up for new discoveries
- Strong partnership built with VerAI for further exploration on the project and across the region
In September 2024, Conquest announced the commencement of a 3,000 m diamond drill program on its
Thomas Obradovich, Conquest's President and CEO, commented, "We are excited to see the results of our first AI-driven exploration partnership with VerAI on our Belfast-TeckMag Project, and in particular, intercepting copper - zinc - gold mineralization at Eaglerock. The results from drillhole BC24-32 are of particular interest when you consider that this was one of only three holes testing a completely concealed AI target that is up to 2 km long and 500 m wide, and where we were not able to detect mineralization using traditional exploration techniques. The fact that we see intervals of anomalous copper, zinc, and gold up to 30 m wide with separate zones enriched in palladium and platinum, bodes well for the potential discovery of a significant mineralized system at Eaglerock with the next stage of drilling."
"We are also very encouraged to see that the technology has established that at least three of the four AI-derived targets have intersected a potential mineralized system for further testing," Mr. Obradovich continued.
"Given that we only signed the agreement with VerAI back in June last year and have already, within six months, completed the initial drill program with this level of success, is testament to both our operational teams and the AI technology, which has dramatically reduced the time and cost to take a target to drilling stage from many years to just a few months. We're excited to partner with VerAI on the next phase of work on the Belfast TeckMag Project."
On the 2 km long Eaglerock target, two of three drillholes (BC24-32 and BC24-33) intersected sulphidic horizons including chalcopyrite and sphalerite, within dominant pyrrhotite mineralization locally amounting up to
Logging of the core from BC24-32 has confirmed the presence of a potential volcanogenic massive sulphide (VMS) horizon, including sulphidic chert and fine sediments over a intersected length of 33.50 m with anomalous Cu and Zn. This interval is interpreted to be a hiatus in volcanism which may have preserved a massive sulphide lens and will be a focus of future drilling.
Yair Frastai, CEO of VerAI Discoveries, commented, "The results from this program with our partnership with Conquest validates the powerful discovery capabilities of the VerAI technology and approach. We are very encouraged to see that the Eaglerock target in particular suggests we may be on the margins of a VMS copper-gold-zinc system which was completely concealed below younger rocks and extensive forest cover. We look forward to the next steps in our partnership with Conquest to quickly and efficiently advance these projects to the next stage."
At the Turtleshell target, 4 km southwest of Eaglerock, low level magmatic-style sulphide mineralization within mafic intrusive rocks was intersected throughout drillhole BC24-29, with grades up to
Two 350 m holes (BC24-27 and BC24-28) were drilled at the Manitou target but failed to reach the target horizon beneath thick Nipissing diabase units. Due to the thickness of cover sequences in the area, potential exists at greater depths to intercept the target unit with further drilling.
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Conquest - VerAI Partnership
In April 2024, Conquest entered into a Royalty Purchase and Sale Agreement with VerAI, to which Conquest agreed to grant VerAI a
Multiple high priority drill targets were generated using VerAI's proprietary AI technology. The targets are located proximal to where Conquest discovered highly anomalous hydrothermal copper mineralization through drilling in 2021 and 2022 (See news release dated October 20, 2021). This mineralization and associated alteration in drill core was interpreted to be related to a hydrothermal system capable of forming iron-oxide-copper-gold (IOCG), volcanogenic massive sulphide (VMS), and affiliated deposits.
Figure 1- [Map] Locations of drill holes, Belfast-TeckMag Project
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Table 1. Assays results from drill program
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Note: Intervals reported in Table 1 represent core lengths and not true widths.
Table 2. Coordinates of Assays results from drill program
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QA/QC PROGRAM
Samples were cut using a diamond blade saw, inserted into labeled bags, and delivered by representatives of Conquest to Activation Laboratories Ltd. in North Bay, Ontario. Activation Laboratories Ltd. is an ISO 17025:2005 accredited testing laboratory.
Samples were analyzed for Au, Pt, and Pd using the 1C-OES package and multi-element analysis was completed by near-total digestion (four-acid) with an ICP-OES finish (IF2 package).
Conquest inserted standards and blanks and performs duplicate analysis as part of its QA/QC program. Activation Laboratories also performs an internal QA/QC program which includes the insertion of CRM's, blanks, sample repeats, and duplicate samples.
QUALIFIED PERSON
The technical content of this News Release has been reviewed and approved by Joerg Kleinboeck, P.Geo., a qualified person as defined in NI 43-101.
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
Conquest now controls over 300 square kilometres of underexplored territory in the Temagami Mining Camp, including the past producing Golden Rose Mine at Emerald Lake.
Conquest also holds a
In addition, the Company holds interests in the Smith Lake Gold Property and Lake Nipigon Basin Property.
ABOUT VERAI DISCOVERIES INC.
VerAI Discoveries (VerAI) is an AI-Driven Mineral Asset Business that is leveraging its proprietary AI Discovery Platform to systematically identify and target high-probability locations of concealed mineral deposits. VerAI owns a rapidly growing portfolio of over 60 mineral projects and 17 royalties across Ontario, Arizona, Nevada, and Chile, identified using its AI Discovery Platform. By focusing on underexplored covered terrain within prime mining jurisdictions, VerAI is dramatically increasing the probability of discovering substantial deposits of different commodities, while mitigating economic risk. The company is partnering with industry leaders and explorers to grow its global asset portfolio of base and precious metals targets, unlocking significant value and contributing to the global supply of critical minerals. For more information, visit https://ver-ai.com/.
FOR FURTHER INFORMATION CONTACT:
general@conquestresources.com
www.conquestresources.com
Tom Obradovich
President & Chief Executive Officer
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.
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FAQ
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