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Equity Metals Corporation (TSXV: EQTY) ("Equity" or the "Company") reports that drilling is underway on the 100% owned 18,871 ha Silver Queen Property, northern British Columbia. Four holes totaling 1,422 metres of the planned 18 hole, 6,000 metre 2025 drill program have been completed to date, with the current holes testing down-dip of higher-grade mineralized intercepts from the 2024 drilling (see Figure 2 and 2024 highlights below). Subsequent drilling will continue testing along strike, up to 400 metres laterally to the northwest. Drill core is being logged and sampled for analyses with assays anticipated in the coming weeks.
The 2025 drill program is a continuation of drilling completed in Q4/24, which successfully confirmed both the grade and tenor of mineralization beneath historical underground workings beyond the northwestern end of No. 3 resource blocks. Drilling at that time extended the projection of the No. 3 Vein for 400 metres strike-length and to over 250 metres depth below surface. Mineralization remains open both laterally and at depth, and expanding projections of that mineralization is the target of the current 2025 drill program on the property.
Previously reported highlights from the 2024 Drill program include:
- A 7.6 metre (Est. TT) interval grading 1.1g/t Au, 42g/t Ag, 0.7% Pb and 4.4% Zn (431g/t AgEq or 5.8g/t AuEq) from SQ24-136;
- A 3.3 metre (Est. TT) interval grading 2.8g/t Au, 66g/t Ag, 1.4% Pb and 6.9% Zn (710g/t AgEq or 9.6g/t AuEq from SQ24-130; and
- A 2.7 metre (Est. TT) interval grading 0.3g/t Au, 174g/t Ag, 1.2% Cu, 0.2% Pb and 3.8% Zn (507g/t AgEq or 7.1g/t AuEq) from SQ24-141
Note: Assays first reported in News Releases NR-15-24 and NR-01-25 dated December 15, 2024 and January 15, 2025 respectively.
The No. 3 Vein hosts the single largest resource currently identified on the Silver Queen property and with its southern extension, the NG-3 Vein, account for 65% of the currently modelled mineral resources on a AgEq basis. Therefore, any extensions to the No. 3 Vein will be highly accretive to the current mineral resource. The updated NI43-101 Mineral Resource Estimate with effective date December 1st, 2022 is detailed in a News Release issued on Jan 16, 2023, which can be found by clicking here and the full Technical Report can be found on SEDAR+ and the Company's website.
VP Exploration Rob Macdonald commented, "Equity continues the process of systematic extension of the No. 3 Vein set, which remains open along strike and at depth. The 2025 drill program builds on earlier 2024 exploration encouragement, and with continued success, will be accretive to the existing mineral resources identified in the four known precious metal deposits currently delineated on the property. Work in 2025 will continue to incorporate the 2024-25 drill data into revised exploration and resource models toward a Mineral Resource update to be prepared in Q4/25 as Equity continues to develop the ever-expanding Silver Queen vein systems."
Figure 1: Plan of Silver Queen project area
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Figure 2: No.3 North Longitudinal Section showing historical and 2024-25 drill intercepts. Historical Intercepts are semi-transparent. Assays for the 2025 intercepts are pending.
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Arlington Property Update
The company also reports that drilling continues on the Arlington property, located in South central B.C. Seven core holes totalling 2,651 metres have been completed to date of an anticipated nine-hole program. Drilling has tested three separate "hot-spot" clusters of strongly anomalous Au-Ag-As values within the larger South Fresh Pots soil anomaly (Figure 3). Geophysical features identified in a DCIP geophysical survey conducted earlier this year have greatly enhanced targeting at both the South and North Fresh Pot areas.
Additional surface sampling and mapping towards further drill target definition are also planned for the North Fresh Pots, Rona and other target areas on the property. Work will continue through the month of June and into parts of July.
Figure 3: Current drill hole distribution on the Arlington property
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About Equity Metals Corporation
Equity Metals Corporation is a member of the Malaspina-Manex Group. The Company owns 100% interest, with no underlying royalty, in the Silver Queen project, located along the Skeena Arch in the Omineca Mining Division, British Columbia. The property hosts high-grade, precious- and base-metal veins related to a buried porphyry system, which has been only partially delineated. The Company also has a controlling JV interest (57.49%) in the Monument Diamond project, NWT, strategically located in the Lac De Gras district within 40 km of both the Ekati and Diavik diamond mines. As well, the Company has an option to acquire a 100% interest in the Arlington Property, located within the Boundary District of south-central British Columbia where 2025 exploration work is planned, consisting of geophysics and diamond drilling designed to identify and delineate an apparent gold system. The Company is fully funded to undertake proposed 2025 exploration and development at Silver Queen and Arlington.
Robert Macdonald, MSc. P.Geo, is VP Exploration of Equity Metals Corporation and a Qualified Person as defined by National Instrument 43-101. He is responsible for the supervision of the exploration on the Silver Queen project and for the preparation of the technical information in this disclosure.
On behalf of the Board of Directors
"Joseph Anthony Kizis, Jr."
Joseph Anthony Kizis, Jr., P.Geo
President, Director, Equity Metals Corporation
For further information, visit the website at https://www.equitymetalscorporation.com; or contact us at 604.641.2759 or by email at corpdev@mnxltd.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Equity Metals Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256863
