Conquest Resources Options Golden Rose Project to Atha Energy Corp.

2022-07-23 06:45:05 By : Mr. Dan May

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.

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).

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.

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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.

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.

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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.

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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.

In January 2022, the Company completed the Phase 1 drill program on its Belfast-TeckMag Project. The drill program was focused on testing those geophysical anomalies that are characteristic of magmatic Cu-Ni-PGE's, VMS, and IOCG mineralization.

25 drill holes, totaling 9,260 metres were drilled over the course of 8 months from June 2021 to January 2022. Assay results have been received for all holes except for the last drill hole (BC21-26) still pending results.

On May 1, 2022, Conquest entered into an Ontario Transfer Payment Agreement under the Ontario Junior Exploration Program with the Minister of Northern Development, Mines, Natural Resources and Forestry (the "OJEP Funding Agreement"). Pursuant to the OJEP Funding Agreement, the province of Ontario will contribute up to a maximum of $200,000 towards Conquest's exploration costs incurred during the rest of the year up to February 15, 2023, on its drill programs at the Belfast TeckMag Project. The funds will be made available to the Company subject to its satisfying certain project reporting requirements.

Conquest is pleased to announce that on April 7, 2022, the Ontario Ministry of Northern Development of Mines, Natural Resources and Forestry ("MNDM") accepted Conquest's application to the second Ontario Junior Exploration Program ("OJEP") intake. Conquest is awarded a maximum $200,000 grant towards the cost of the Belfast-TeckMag Project, conditional upon the execution of a funding agreement which governs the program grants. The conditions were subsequently satisfied and an OJEP Funding Agreement was signed with the MNDM on May 1, 2022.

Conquest CEO Tom Obradovich said, "We are pleased to have been awarded an OJEP grant which will add to the meters of drilling we need to execute in order to test our remaining exploration targets."

For the three-month period ended March 31, 2022, the Company recorded a loss of $348,837 or $0.003 per share. The loss included exploration expenditures of $158,733 and stock-based compensation expense of $93,896.

The Company completed its Phase 1 drilling program on its Belfast-TeckMag Project in January 2022 and had no material drilling activities, besides a downhole geophysical survey, during the rest of the first quarter. Therefore, the exploration costs during the three-month period ended March 31, 2022 decreased in comparison with the same period in 2021.

At March 31, 2022, the Company had total current assets of $1,586,333, including cash and cash equivalents of $1,532,615 to settle accounts payable and accrued liabilities of $96,879.

Cash used in operating activities amounted to $416,973 for the three months ended March 31, 2022.

The Company had no proceeds or disbursements from financing or investing activities during the three months ended March 31, 2022 and 2021.

At March 31, 2022, Conquest had not achieved profitable operations, and expects to incur further losses in the development of its business. The Company has continued to rely on equity financing to fund its working capital requirements.

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).

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.

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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.

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-TeckMag Project, located in the Temagami Mining Camp at Emerald Lake, Ontario, which is believed to have 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. The Belfast- TeckMag Project is the Company's flagship property, evolved from the Golden Rose Property, which was initially acquired in December 2017, and significantly augmented through the acquisition of Canadian Continental Exploration Corp. ("CCEC") in October 2020, and subsequent additional claim staking and purchases in its adjacent Belfast Copper, TeckMag, DGC and JPC properties. Conquest now controls approx. 350 square kilometers of underexplored territory 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).

Email: general@conquestresources.com Website: 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.

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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.

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 and nine month periods ended September 30, 2021 which are available on the Company's website at www.conquestresources.com or under the Company's profile at www.sedar.com.

Nipigon Rift Uranium/Ni-Cu-PGE Property, Lake Nipigon, Ontario

Conquest Resources is targeting high-grade Uranium deposits associated with veins and faults at or near the Archean-Proterozoic unconformity, and Proterozoic rift mafic intrusive Ni-Cu-PGE deposits near the unconformity south of Black Sturgeon Lake, in the Lake Nipigon Basin (LNB). As exemplified in the Athabasca Basin, unconformity related Uranium deposits are all associated with faults and fracture systems proximal to the regional unconformity. The Sibley Group of continental sedimentary rocks have been identified above the unconformity with the pre-Cambrian basement in the Lake Nipigon area. Uraniferous veins of the unconformity type are found at the Split Rapids Dam and Canyon occurrences, both located to the north of the Property. Historical intersections at Split Rapids Dam range from 0.012% U3O8 over a core length of 0.30 m in drill hole BS05-13, to 2.99% U3O8 over a core length of 1.5 m in drill hole BS05-30. Other occurrences, such as Greenwich Lake occur regionally, resemble the Athabasca unconformity type and have the best potential for the presence of uranium deposits. In the Lake Nipigon Basin, the most probable source area for uranium deposits associated with veins and faults that are proximal to the Proterozoic/Archean unconformity is the granitoid and associated meta-sedimentary rocks of the Quetico Gneiss Belt (Figure 1). The Quetico Gneiss Belt's signature is one of anomalously high uranium background levels, as identified from Ontario Geological Survey (Scott,1987), highlighting the similarities of the Athabasca basin and the Sibley Basin geological and structural histories.

Early Proterozoic rift related mafic and ultramafic intrusive rocks are prospective for PGE-Ni-Cu deposits in the Lake Nipigon region as exemplified by the many occurrences or deposits discovered ie. Seagull, Disreali, and more recently, Thunder Bay North and Sunday Lake. Conquest believes the continental basement rocks have been subjected to intense regional faulting related to extensional basin style deformation or rifting southwest of Lake Nipigon, possibly representing a part of the Nipigon Rift system itself and consequently revealing a large extensional rift below the unconformity. In 2000-2001, 31 magnetotelluric (MT) data sites were collected across a regional northwest to southeast mapped fault system, south of Black Sturgeon Lake, and within the Nipigon project area (Figure 1). These data have recently been reprocessed and used to generate an estimate of the resistivity distribution below the profile of sites. The interpreted results are shown in Figure 2. The 31 MT site positions along the west to east profile are plotted above the color contoured resistivity estimate. Within the top 0-500m depth a low resistivity layered geologic sequence has been interpreted, reflecting a combination of Sibley sediment horizons are variably intruded by the high resistivity Nipigon diabase sills on/in the near surface layer, as observed in outcropping geology. Below 500m to greater than 2000m the resistivity increases significantly on the west and eastern parts of the profile (interpreted as resistive basement) while a large central region, 3-4 km wide, indicates lower resistivity rocks continuing to depth. Conquest interprets this to be a probable area of basin extension and/or intensive north to south fracturing/deformation on a multi-kilometre scale that may be permissive for the presence of a variety of deposit types including fault and unconformity related uranium veins and PGE-Ni-Cu bearing Proterozoic mafic and ultramafic intrusions.

Building on the Athabasca Uranium exploration and early Proterozoic rift related PGE-Ni-Cu deposits exploration models, Conquest is exploring the SW Lake Nipigon region in search for economic minerals deposits of the type formed in rifted or extensional environments (Figure 3), and employing extensive use of deep-penetrating geophysical techniques including natural field magnetotellurics and ground time domain electromagnetic geophysics. Other field work will include structural mapping as a thick cover of Sibley Group sediments, intruded by Nipigon sills, blankets the area.

Conquest intends to commence a Phase 1 drill program in the first half of 2022 aimed to confirm the presence of the Nipigon Rift on the Property. The program will also target a discrete, very low resistivity region just below the interpreted unconformity (Figure 2). Conquest recently staked an additional 351 cells on strong evidence of an interpreted north-south deformation zone.

Bowbridge, C. 2006: Report on 2005 Diamond Drilling, Black Sturgeon East Block, prepared for Rampart Ventures Ltd., New Shoshoni Ventures Ltd.

Scott, J.F. 1987: Uranium Occurrences of the Thunder Bay-Nipigon-Marathon Area; Ontario Geological Survey, Open File Report 5634, 158p.

Figure 1: The location of the Nipigon Rift Property

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Figure 2 - Interpreted apparent resistivity section Nipigon Rift Property

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Figure 3 - Vertical sections showing conceptual formation of deposit types of extensional basin/rift deposits (U, Ni-Cu-Co-PGE)

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For the three-month period ended September 30, 2021, the Company recorded a net loss of $1,169,011 or $0.009 per share. The operating expenses included exploration expenditures of $863,346 and stock-based compensation expense of $164,200. The increased exploration costs incurred in Q3 of 2021, in comparison with previous quarters, are resulted from the ramp-up of the Phase 1 diamond drilling program at the Company's Belfast-TeckMag Project that commenced in June 2021.

For the nine-month period ended September 30, 2021, the Company recorded a net loss of $3,003,293 or $0.023 per share. The operating expenses included net acquisition cost of $107,100, exploration expenditures of $2,013,715 and stock-based compensation expense of $503,885. A gain of $10,915 were included in the nine months ended September 30, 2021, as the result of the disposal of all the marketable securities held by the Company in May 2021.

The increase in the operating loss in the nine months ended September 30, 2021, in comparison with that of 2020, is mainly resulted from the increased exploration activities and expenditures on the Belfast-TeckMag Project and the acquisition of mineral rights associated with the DGC and JPC properties in March 2021.

At September 30, 2021, the Company had total current assets of $2,955,864, including cash and cash equivalents of $2,777,135 to settle accounts payable and accrued liabilities of $342,675.

During the nine months ended September 30, 2021, the Company had no proceeds or expenditures from financing or investing activities. The proceeds from its previous flow-through share financing were fully expended on qualifying Canadian Exploration Expenditures at the end of June 2021. Cash used in operating activities amounted to $2,076,275 for the nine months ended September 30, 2021.

As of the date hereof, the total number of Conquest shares outstanding is 134,837,106.

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.

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).

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/104964

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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.

Geochemically anomalous base metal and gold mineralization was encountered in the majority of the drill holes. Highlights include drill hole BC21-05 that intersected a low-grade copper zone that returned 0.24% Cu over a core length of 26.35 m hosted within a brecciated iron-rich sediment, including 1.35% Cu over 0.5 m, and drill hole BC21-11, located approximately 1 km east of BC21-05, that intersected multiple zones of anomalous copper mineralization from 62.55 m to 248.55 m. Significant gold mineralization was also intersected in BC21-04 that returned 4.55 g/t Au, 0.38% Cu over a core length of 0.35 m, and in drill hole BC21-11 that returned 5.32 g/t Au over 1.15 m (see Tables 1 and 2).

Down hole geophysical EM (BHEM) surveys have also been completed in drill holes BC21-02, BC21-05, BC21-11, and BC21-15. The downhole surveys in the BC21-05 to BC21-011 mineralized corridor have detected a widespread area of conductive, sulphide-bearing, source rocks within the Copper bearing horizon extending over an area of >200x200m 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 Cu-rich VMS zone. Including the weaker responses, two local areas of anomalous VTEM response can be outlined and isolated from the Eaglerock and Emerald Lake areas (Figure 2, black dashed). 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. The follow up drill campaign for the BC21-05 and BC21-11 region will be to step out on the BHEM and VTEM conductors within the extents of the target magnetic features and at the edges, over a strike length of >1 km across the magnetic signatures/edges. A program of 8 to 10 drill holes totaling approximately 3000 m is planned (black crosses, Figure 2) with an approximate interhole distance of 225 m apart on the local magnetic high expressions, at edges or on descending mag expressions, as well as individual BHEM conductors, including two drill holes targeting offhole conductors, will also be drilled within 100 m of existing holes.

Joerg Kleinboeck, P.Geo., Conquest's Vice President of Exploration, stated that, "The widespread copper mineralization intersected in drill holes BC21-05 and BC21-11 is encouraging as it represents a new discovery that warrants further investigation. Drill crews will be mobilized back into this area in the next two weeks to follow up on the results from the recently completed downhole surveys."

Thomas Obradovich, Conquest's President and CEO stated, "After months of regional target testing it is gratifying to identify an area where we can increase our drill density on a well mineralized system with the goal of locating economic phases of a VMS system."

Table 1: Summary of Diamond Drill Results

Figure 1- Locations of drill holes, Belfast-TeckMag Project

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Figure 2- Magnetic, VTEM (black, yellow), BHEM (red) conductors are outlined within the VTEM conductors.

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Conquest has implemented a quality assurance/quality control (QA/QC) program for the Phase 2 diamond drill program.

Diamond drill core was logged, and where marked for sampling, cut in half, with one half placed in a labelled sample bag, and the remaining half placed back into the core tray and stored in a secured compound. A blank and a standard were inserted in the assay sampling sequence at every 10th place respectively. All samples were shipped to Activation Laboratories in Timmins, Ontario. Once the samples are received and dried at the laboratory, the samples are then crushed to 80% passing 10 mesh (2 mm) and then split into 250 g sub-sample size using a Jones Riffle Splitter. These sub-samples are then pulverized (using rings and pucks to 90% passing 200 mesh (0.075 mm) and homogenized prior to analysis. Gold analysis is performed using a 30 g charge by fire assay using lead collection with a silver inquart (1A2 package). The lower detection limit is 5 ppb, and the upper detection limit is 5000 ppb for this analysis. A gravimetric finish (1A3 package) is completed for any samples that return greater than 5000 ppb that includes crushing of the entire sample to -150 mesh and subsequently sieved through a 150 mesh screen. The entire +150 mesh portion is assayed, along with two duplicate cuts of the -150 mesh portion. Results are reported as a calculated weighted average of gold in the entire sample. Results for the 38 element ICP analysis (1E3 package) includes digesting 0.5 g of the sample with aqua regia for 2 hours at 95 °C. The sample is cooled and then diluted with deionized water. The samples are then analyzed using an Agilent 700 series ICP for the 38 element suite. QC for the digestion is 15% for each batch, 2 method reagent blanks, 6 in-house controls, 8 sample duplicates and 5 certified reference materials. An additional 20% QC is performed as part of the instrumental analysis to ensure quality in the areas of instrumental drift. If over limits for base metals are encountered, a sodium peroxide fusion, acid dissolution followed by ICP‐OES is completed.

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.

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 350 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).

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/100314

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Natural Resource Partners L.P. (NYSE: NRP) plans to report its second quarter 2022 financial results before the market opens on Thursday, August 4, 2022. Management will host a conference call beginning at 9:00 a.m. ET to discuss the results.

To register for the conference call please use this link https://conferencingportals.com/event/kfJdSHYP . After registering, a confirmation will be sent via email and include dial in details and unique conference call codes for entry. Registration is open through the live call, however, to ensure you are connected for the full conference call we suggest registering a day in advance or at minimum 10 minutes before the start of the call. Investors may also listen to the conference call live via the Investor Relations section of the NRP website at www.nrplp.com .

Audio replays of the conference call will be available on the Investor Relations section of NRP's website.

Natural Resource Partners L.P., a master limited partnership headquartered in Houston, TX, is a diversified natural resource company that owns, manages and leases a diversified portfolio of properties in the United States including coal, industrial minerals and other natural resources, as well as rights to conduct carbon sequestration and renewable energy activities. NRP also owns an equity investment in Sisecam Wyoming LLC, one of the world's lowest-cost producers of soda ash.

Further information about NRP is available on the partnership's website at http://www.nrplp.com .

View source version on businesswire.com: https://www.businesswire.com/news/home/20220721005902/en/

NRP Contact Tiffany Sammis, Investor Relations, 713.751.7515, tsammis@nrplp.com

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TSXV: HELI    OTCQB: FHELF    FRA: 2MC

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC), today announced the commencement of drilling its third exploration well, the "14-23" target, which is located on First Helium's 100% owned, 79,000 acre Worsley landholdings in Northern Alberta, Canada . Targeting multiple helium-bearing formations, successful drilling of the 14-23 well will potentially add incremental contingent resource 1 volumes to those of the successful 15-25 helium discovery well, which has been independently evaluated.

"Drilling the 14-23 helium target provides us the opportunity to build on the identified helium contingent resource at 15-25," said Ed Bereznicki , President & CEO of First Helium. "We are currently in the process of securing helium gas off-take sales arrangements to help support the financing, fabrication, installation and commissioning of a single well helium gas processing facility for 15-25, planned to commence later this year", added Mr. Bereznicki.

As with the Company's 15-25 helium discovery well, which includes associated volumes of natural gas and natural gas liquids, First Helium intends to produce and market any potential associated surplus hydrocarbon volumes included in future discovery wells to capitalize on the current strong outlook for natural gas and liquids pricing, and maximize cash flow in support of further growth. First Helium's 79,000 acres along the Worsley Trend is highly prospective for both helium and natural gas. Historical exploration and development drilling on the trend has encountered rich helium concentrations ranging from 0.5% to 1.9% in a number of formations

The Company's last press release dated July 11, 2022 , incorrectly stated that the 15-25 well was most recently tested in "December 2022". It was most recently tested in November 2021 to further confirm helium content and verify raw gas composition for processing facility design considerations.

"Contingent resources" are not, and should not be confused with, oil and gas reserves.  Further information regarding Contingent Resources can be found in First Helium's Final Prospectus, dated June 28, 2021, filed on First Helium's SEDAR profile at www.sedar.com .

Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America .

Building on its successful 15-25 helium discovery well at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development of helium across its Worsley land base. Cash flow from its successful oil wells at Worsley will help support First Helium's ongoing helium exploration and development growth strategy.

First Helium holds over 79,000 acres along the highly prospective Worsley Trend in Northern Alberta , and 276,000 acres in the Southern Alberta Helium Fairway, near existing helium production. In addition to continuing its ongoing exploration and development drilling at Worsley , the Company has identified a number of high impact helium exploration targets on the prospective Southern Alberta Helium Fairway lands to set up a second core exploration growth area for the Company.

For more information about the Company, please visit www.firsthelium.com .

Edward J. Bereznicki President, CEO and Director

This news release contains certain statements or disclosures relating to First Helium that are based on the expectations of its management as well as assumptions made by and information currently available to First Helium which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results, or developments that First Helium anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "expect", "will" and similar expressions. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the timing and rate of production of the 4-29 and 1-30 discovery wells, respectively; anticipated cash flows; the entering into of off-take marketing arrangements; the use of funds and the Company's strategy. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of First Helium including, without limitation: that First Helium will continue to conduct its operations in a manner consistent with past operations; the general continuance of current or, where applicable, assumed industry conditions; availability of debt and/or equity sources to fund First Helium's capital and operating requirements as needed; and certain cost assumptions.

Forward-looking statements are based on estimates and opinions of management at the date the statements are made and are subject to risks, uncertainties and assumptions, including those set out in the Final Prospectus dated June 28, 2021 and filed under the Company's profile on SEDAR at www.sedar.com .  Readers are cautioned that actual results may vary materially from the forward-looking statements made in this news release. Risks that could cause actual events or results to differ materially from those projected in forward-looking statements include, but are not limited to, risks associated with the oil and gas industry; the ability of First Helium to fund the capital and operating expenses necessary to achieve its business objectives; the impact of the COVID-19 pandemic on the business and operations of First Helium; the state of financial markets; increased costs and physical risks relating to climate change; loss of key employees and those risks described in the Final Prospectus dated June 28 , 2021.  First Helium does not undertake any obligation to update forward looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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Sarytogan Graphite Limited (‘SGA’) was admitted to the Official List of ASX on Thursday, 14 July 2022. The securities of SGA will commence quotation at 12:00PM AEST on Monday, 18 July 2022.

SGA raised $8,659,533 pursuant to the offer under its prospectus, dated 23 February 2022 as varied by a supplementary prospectus dated 20 May 2022, by the issue of 42,500,000 shares at an issue price of $0.20 per share and 15,953,339 quoted options exercisable at $0.25 per option expiring on Saturday, 30 November 2024.

Click here for the full ASX Release

This article includes content from Sarytogan Graphite Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

High Li & Br Reported in Zones Outside Existing JORC Resource

Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce that high concentrations of lithium and bromine have been reported from the recent drilling at the Long Canyon No. 2 well at the Company’s Paradox Lithium Project in Utah, USA (the Project).

These additional lithium and bromine values come from the Clastic Zones 17, 19, 29, 31 and 33 at Long Canyon No. 2, all of these zones have not been previously included in the existing JORC Resource estimate at the Project.

It is anticipated these additional assay results will result in an increase in the Project’s Indicated and Inferred Resources at the southern end of the Project area (see Figure 1).

Assays for the Clastic Zones at the Long Canyon No. 2 well are shown in Table 1, along with assays from the Cane Creek and Skyline wells. Anson plan to use these results from all of the Clastic Zone horizons and the Mississippian Units to upgrade the Project’s existing JORC Resource estimate (see ASX Announcement 11 May 2020).

Table 1: The assay results obtained for the Clastic Zones sampled in the Long Canyon Unit 2 re-entry.

Figure 1: Plan showing the AOI for Indicated and Inferred for the additional Clastic zones that will result from the assay results obtained from the Long Canyon Unit 2 re-entry.

Anson’s resource expansion drilling campaign is focused on delivering a significant resource upgrade at the Project and incorporates separate “Eastern” and “Western” expansion strategies.

The completion of the current phase of drilling at the Cane Creek 32-1 and Long Canyon No. 2 wells will constitute the completion in full of the “Eastern” component of the Resource expansion strategy.

The Company then plans to further expand the Paradox Resource by re-entering historic holes in the western areas of the Project, which are currently only classified as Inferred Resources or an Exploration Target (see Figure 1).

The execution of the “Western” expansion strategy has the potential to deliver a significant further increase in Resource tonnages and grades, from the additional Clastic Zones at the wells in this area, where there are no recorded assays.

Click here for the full ASX Release

This article includes content from Anson Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

This syndicated article was originally published by the Canadian ETF Market. The Investing News Network (INN) believes it may be of interest to readers; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

According to the ancient Chinese philosophy, Feng Shui, five elements make up the totality of ecosystems in nature. Earth, fire, metal, water, and wood are believed to lead all-natural phenomena worldwide. Among these, water is one of the most widely used commodities that we have mistakenly taken for granted. Water is not only essential for life itself, but it plays a crucial role in most economic activities. The former U.S. President Dwight Eisenhower was once quoted saying, “among these treasures of our land is water, fast becoming our most valuable, most prized, most critical resource.”

The “Human Right to Water and Sanitation” was officially recognized by the United Nations on July 28th, 2010. Furthermore, water use has evolved to play an essential role in almost all economic activities. It can be found in different applications ranging from manufacturing to consumer staples, food and beverages, healthcare, and agriculture.

The water demand has increased 600% globally in the last 100 years. The current global water demand of 4,600 km^3 per year is expected to increase by 20% to 30% by 2050, up to 5,500 to 6,000 km^3 per year.[1]

As water covers 70% of the planet’s surface, people assume that there is enough water to satisfy all human needs. A common misconception that is sadly far from the truth. As 97%[2] of the planet‘s water is saltwater, it cannot be used for crop irrigation, industrial use, or even drinking. In fact, only about 1% (93,113 Km3) of the remaining 3% of freshwater is readily available for human use. That is without accounting for the negative impact climate change will no doubt have on the Earth’s resources. It is now evident that the growing demand for fresh and clean water outpaces the limited supply.

Water sustainability is under increasing scrutiny. Estimates by the World Resources Institute suggest that 66% of the world’s population could be living under water-stressed conditions by 2025. Unsurprisingly, the United Nations has placed water at the center of sustainable development.

Expanding economies, a growing population, and changing consumption habits further exacerbate the problem. Demand for clean water is ever increasing – after all, almost 8 billion humans on this planet need water – yet water shortages and pollution are an all-too-common occurrence in today’s world. Given the critical importance a robust water supply will play in our future survival. There is clearly an urgent need for the public and private sectors to align and invest in water infrastructure.

The United States President Joe Biden signed a USD$1.1 trillion infrastructure bill on November 15th last year. The bipartisan bill turned law will allocate the funds directly to states with infrastructure projects over ten years. The bill devoted USD$55 billion to water and wastewater infrastructure projects, especially given that growing climate risk has put a strain on aging water infrastructure.

Responsible investors who want to have a role in water stewardship can purchase water stocks. They comprise companies that generate revenue from water-related activities such as utilities, filtration and treatment, and equipment makers that manufacture pumps and pipes needed to transport water.

Alternatively, investors can bet on the future value of the Nasdaq Veles California Water Index (NQH2O). NQH2O Index is an established benchmark index for water prices that provides greater transparency, oversight, and price discovery for the water industry and its participants. These futures contracts trade on The Chicago Mercantile Exchange and track the water prices in California.

Exchange-traded funds also provide opportunities to invest in the water theme. Rather than navigate the complexities of picking individual securities, ETFs offer investors an easy and convenient way to gain exposure to several water-focused businesses through a single basket of stocks that trades on an Exchange.

The NEO ETF Screener identifies the iShares Global Water Index ETF (CWW) as the sole ETF investing in the 'Water’ theme. According to Trackinsight’s thematic taxonomy, the water theme belongs to the Natural trend, which captures the investment opportunity in any of the ‘Rising Urbanization’ and ‘Environmental Changes' megatrends.

The iShares Global Water Index ETF (CWW) is Canada’s first and only water ETF. Assets under management reached CAD$317 million[3] while attracting CAD$18 million of investors' capital year-to-date. This fund is designed to track the performance of the S&P Global Water Index. CWW can help portfolio diversification, allowing investors to express their views on global water equities. It invests in 50 stocks covering the entire sector. They are selected based on the relative importance of the global water industry within their business models. This fund is likely to see support moving forward, having 51.97%[4]of total assets invested in the U.S. It can be a beneficiary of the USD$55 billion that is set to be spent on water and wastewater infrastructure in the USD$1.1 trillion bill. Moreover, the fund is globally diversified, investing the remaining assets as follows: 20.24% in the United Kingdom, 6.92% in Switzerland, 4.97% in France, and 13.68% across six different countries. CWW costs 0.66% a year to own while following a distributing dividend policy where it distributes generated income to shareholders.

[1] Reassessing the projections of the World Water Development Report | Clean Water

[2] How Much Water is There on Earth? | U.S. Geological Survey

[3] Fund AUM and flow data is as of June 2nd.

[4] Fund holdings’ data is as of June 6th.

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