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Conquest Closes Private Placement, Settles Debt for Shares and, Plans to Commence Exploration at Golden Rose
Conquest Closes Private Placement, Settles Debt for Shares and, Plans to Commence Explorat...
About this update from Conquest Resources Limited
[{"type":"text","content":"\n\n\n\nConquest Closes Private Placement, Settles Debt for Shares and, Plans to Commence Exploration at Golden Rose\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Jan. 29, 2018\n\n\n\n\n\n/NEWS RELEASE FOR IMMEDIATE DISSEMINATION IN CANADA ONLY.  NOT FOR DISTRIBUTION IN UNITED STATES OF AMERICA./\n\n\n\nTORONTO, Jan. 29, 2018 /CNW/ - Conquest Resources Limited (TSX-V: \"CQR\") (\"Conquest\" or \"the Company\") reports that the Company has completed its non-brokered, private placement for gross proceeds of $535,281.\n\n\n \n \n\n \nConquest has issued 10,705,620 shares to investors in the private placement representing 9% of the total issued and outstanding shares of the Company for gross proceeds of $535,281.  Insiders of Conquest subscribed for 3,000,000 shares ($150,000) in the private placement.\n\nAt least $350,000 of the total $535,281 private placement will be used for exploration at Golden Rose, while the remaining proceeds will be used for the general expenses of the Company.\n\nTHE GOLDEN ROSE PROPERTY AT EMERALD LAKE, ONTARIO\n\nOn December 7, 2017, Conquest acquired a 100% interest in the Golden Rose Property located 65 kilometres northeast of Sudbury, Ontario.  The patented and staked mining claims measure 770 hectares in size which encompass the former Golden Rose gold mine and highly prospective North and South banded iron formations at Emerald Lake.\n\nConquest's exploration strategy for the Golden Rose Property targets gold mineralization in Algoman-type banded iron formation and Archean-aged greenstone volcanics in search of orogenic gold deposits at three distinct mine-, property- and regional- scales.\n\nConquest is undertaking the compilation of new geological modeling that is focused on the folded and faulted stratigraphy of prospective Archean-aged banded iron formations which transect the width of the property over a seven-kilometer strike length.  More than six kilometres of underground workings and 450 drill holes, in addition to surface mapping, geochemistry and g...