Equity Metals Corporation (TSXV: EQTY) ("Equity") reports thick intercepts of mineralization in both lateral step-outs to the Camp Vein and at depth in the Sveinson Target from recent drilling on the Silver Queen property, BC.
Drill highlights Include:
These assay results are from the final four holes of the Winter '22 drill program on the Camp, Sveinson and NG-3 targets. Bonanza-grade mineralization was identified in all three of these holes (SQ22-073, -074 and -075) along the western margin of the Camp Vein target, extending the lateral projection of several veins for an additional 40 metres with intercepts up to 150 metres below surface. Several intercepts form composites of thicker mineralized intervals up to 7.7 metres downhole. Mineralization in the Camp Vein target remains open to the west and at depth, which will be further tested in 2022.
A fourth hole (SQ22-072) tested an approximate 200 metre width of the Sveinson target, intersecting three main clusters of mineralized veins to depths of up to 335 metres below surface. These represent significant step-outs from previously drilled intercepts in the western portion of the Sveinson target. Intercepts are generally more gold-enriched than intercepts in the Camp Vein and return higher base metal contents.
VP Exploration Rob Macdonald commented, "These results mark the completion of the Winter '22 drill program on the Silver Queen project, which successfully confirmed a 300 metre projection of the NG-3 vein to depths of up to 390 metres below surface; identified the western and currently open-ended projection of the Camp Vein target; and confirmed the continuity of several gold-silver-mineralized structures in the transition eastward from the Camp Vein into the Sveinson target. Compilation of this and earlier data continues toward the preparation of a mineral resource update in the coming months. Numerous veins remain open for testing across the 6 sq. km. target area, which will form the basis of additional drill testing in 2022."
Figure 1: Plan Map of targets on the Silver Queen vein system, BC
To view an enhanced version of Figure 1, please visit:
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Figure 2: Plan View Camp-Sveinson Targets showing AgEq values in composites. Note the multiple veins structures identified through the Camp and Sveinson targets.
To view an enhanced version of Figure 2, please visit:
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New Drilling on Silver Queen
The Company also reported that following the completion of the winter drill program, an additional 1,500m core hole program on the Silver Queen property is now underway. Drilling will continue to test the western extension of the Camp Vein target and the western margin of the Sveinson Target structure, and drilling should be completed over the coming weeks.
President Joe Kizis explained, "This limited drilling program is specifically testing three possible vein projections that are based on our on-going modeling. These are projections of veins beyond the limits of drilling that will be included in our independent resource and success in these holes should provide us with the guidance to further expand the resource base at Silver Queen during our planned Fall 2022 drilling."
Table 1: Summary Composites from Winter '22 Drilling on the Camp-Sveinson Targets
| Hole # | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) | AgEq (g/t) | Comments |
| SQ22-072 | 82.5 | 83.2 | 0.7 | 4.5 | 232 | 0.5 | 0.1 | 0.2 | 8.4 | 633 | |
| SQ22-072 | 160.7 | 162.5 | 1.8 | 0.7 | 47 | 0.8 | 0.1 | 0.5 | 2.7 | 200 | 43% dilution |
| inc. | 160.7 | 161.5 | 0.8 | 1.5 | 68 | 1.3 | 0.1 | 0.8 | 4.5 | 339 | |
| SQ22-072 | 215.7 | 216.6 | 0.9 | 1.5 | 31 | 0.0 | 1.3 | 5.6 | 5.3 | 400 | |
| SQ22-072 | 348.2 | 350.2 | 2.0 | 0.7 | 19 | 0.1 | 0.2 | 2.0 | 2.1 | 161 | 60% dilution |
| inc. | 348.2 | 348.7 | 0.5 | 1.7 | 40 | 0.0 | 0.7 | 6.7 | 5.9 | 445 | |
| SQ22-072 | 377.7 | 378.8 | 1.1 | 0.8 | 199 | 0.5 | 3.6 | 3.1 | 7.3 | 544 | |
| inc. | 377.7 | 378.1 | 0.4 | 1.3 | 427 | 1.0 | 7.1 | 3.2 | 13.2 | 989 | |
| SQ22-072 | 385.4 | 386.4 | 1.0 | 0.3 | 72 | 0.0 | 1.4 | 6.7 | 5.4 | 402 | |
| SQ22-072 | 396.0 | 397.2 | 1.2 | 1.0 | 802 | 2.1 | 0.8 | 2.0 | 15.8 | 1183 | |
| inc. | 396.3 | 396.8 | 0.6 | 2.1 | 1705 | 4.3 | 1.6 | 4.1 | 32.9 | 2470 | |
| SQ22-073 | 71.2 | 72.6 | 1.4 | 0.2 | 228 | 0.0 | 0.1 | 0.8 | 3.7 | 277 | |
| inc. | 71.5 | 71.8 | 0.3 | 0.3 | 396 | 0.1 | 0.1 | 2.2 | 6.9 | 516 | |
| SQ22-073 | 91.1 | 92.9 | 1.8 | 0.0 | 139 | 0.0 | 0.0 | 0.1 | 1.9 | 143 | 37% Dilution |
| inc. | 92.7 | 92.9 | 0.3 | 0.0 | 717 | 0.0 | 0.0 | 0.1 | 9.7 | 726 | |
| SQ22-073 | 138.1 | 139.9 | 1.8 | 0.1 | 173 | 0.0 | 0.1 | 0.4 | 2.7 | 201 | |
| inc. | 138.1 | 138.4 | 0.3 | 0.6 | 301 | 0.0 | 0.2 | 0.6 | 5.0 | 374 | |
| SQ22-073 | 161.7 | 169.4 | 7.7 | 0.0 | 274 | 0.0 | 0.1 | 0.3 | 3.9 | 294 | |
| inc. | 169.1 | 169.4 | 0.3 | 0.1 | 2043 | 0.0 | 1.0 | 0.6 | 28.1 | 2110 | |
| SQ22-074 | 44.3 | 44.8 | 0.5 | 1.2 | 1470 | 0.1 | 0.2 | 0.8 | 21.3 | 1600 | |
| SQ22-074 | 78.2 | 78.9 | 0.7 | 0.0 | 184 | 0.0 | 0.0 | 0.0 | 2.5 | 187 | |
| SQ22-074 | 206.3 | 206.5 | 0.3 | 0.7 | 54 | 0.0 | 0.8 | 4.3 | 3.9 | 295 | |
| SQ22-075 | 36.9 | 37.2 | 0.3 | 0.0 | 679 | 0.1 | 0.0 | 0.1 | 9.3 | 698 | |
| SQ22-075 | 81.4 | 85.2 | 3.8 | 0.0 | 219 | 0.0 | 0.0 | 0.1 | 3.0 | 225 | |
| inc. | 84.4 | 84.6 | 0.3 | 0.0 | 1496 | 0.1 | 0.1 | 0.6 | 20.4 | 1534 | |
| SQ22-075 | 158.8 | 159.4 | 0.7 | 0.2 | 169 | 0.0 | 3.4 | 6.8 | 7.4 | 556 | |
| inc. | 159.2 | 159.4 | 0.3 | 0.4 | 390 | 0.1 | 7.0 | 16.1 | 17.0 | 1275 | |
Samples were analyzed by FA/AAS for gold and 48 element ICP-MS by MS Analytical, Langley, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP-ES analysis, High silver overlimits (>1000g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. Silver >10,000g/t re-assayed by concentrate analysis, where a FA-Grav analysis is performed in triplicate and a weighed average reported. Composites calculated using a 80g/t AgEq (1g/t AuEq) cut-off and
About Silver Queen Project
The Silver Queen Project is a premier gold-silver property with over 100 years of historic exploration and development and is located adjacent to power, roads and rail with significant mining infrastructure that was developed under previous operators Bradina JV (Bralorne Mines) and Houston Metals Corp. (a Hunt Brothers company). The property contains an historic decline into the No. 3 Vein, camp infrastructure, and a maintained Tailings Facility.
The Silver Queen Property consists of 45 mineral claims, 17 crown grants, and two surface crown grants totalling 18,852ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 sq km area. An initial NI43-101 Mineral Resource Estimate was detailed in a News Release issued on July 16th, 2019 and is hosted by the No. 3 Vein, which is traced by drilling for approximately 1.2km and then to the southeast where it transitions into the NG-3 Vein close to the buried Itsit copper-molybdenum porphyry.
More than 20 different veins have been identified on the property, forming an extensive network of zoned Cretaceous- to Tertiary-age epithermal veins. The property remains largely under explored.
About Equity Metals Corporation
Equity Metals Corporation is a Manex Resource Group Company. Manex provides exploration, administration, and corporate development services for Equity Metals' two major mineral properties, the Silver Queen Au-Ag-Zn-Cu project, located in central B.C., and the Monument Diamond project, located in Lac De Gras, NWT. The Company also has a 1% royalty (Greenwood Royalty) and a 100% working interest in the La Ronge Silica Project.
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 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. The project owners are Equity Metals Corporation (57.49%), Chris and Jeanne Jennings (22.11%); and Archon Minerals Ltd. (20.4%). Equity Metals is the operator of the project.
The 100% controlled La Ronge Silica Project is an historic sand quarry located in central Saskatchewan, approximately 60 kilometers south-southeast of La Ronge, Saskatchewan and 210 kilometers west of Flin Flon, Manitoba. Preliminary studies indicate the silica deposit may be developed into a simple and profitable, low-cost mining and washing operation to produce high-purity silica (>98% SiO2), a specialty product for the EV battery industry.
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 ir@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/124413
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Equity Metals Corporation (TSXV: EQTY) ("Equity") reports several intersections of high-grade gold and silver from six holes which tested the NG-3 target area on the Silver Queen property, BC. Equity's drilling has now confirmed the extension of the NG-3 Vein to over 300 metres of strike and to depths of up to 240 metres below surface. The holes have established internal continuity between historic intercepts drilled by previous management and earlier drilling by Equity, and mineralization remains open along strike and dip.
Drilling Highlights:
The NG-3 vein is the eastern segment of a 2.5 km-long east-west trending composite structure which includes the Camp Vein, Sveinson and parts of the No. 3 Vein targets (see Figure 1). Drilling on the property by Equity Metals over the last 18 months of exploration has confirmed multiple mineralized veins along the full strike-length of the host structural and tested some portions to depths of up to 400 metres below surface. Numerous targets within the structure zone remain to be extended laterally and to depth, which will form the basis of future exploration drilling on the property in 2022.
Drilling on the eastern end of the NG-3 target also intersected 89.3m averaging 0.1% Au, 2.1g/t Ag, 0.2% Cu and 0.04% Mo in drill hole SQ22-071 starting at 389.8 metres down hole. The mineralized interval is characterized by increased quartz veining, strong sericite-alteration with elevated pyrite content and correlates with the transition into the previously identified Itsit Porphyry system.
Vice-President of Exploration, Rob Macdonald, commented, "Drilling continues to return high-grade gold and silver values at multiple target areas along the main 2.5 km-long mineralized corridor targeted by Equity over the previous 18 months of drilling on the Silver Queen property. The confirmation of Cu-Mo-porphyry -styled mineralization at the Itsit target further highlights the presence of a large and widespread Epithermal/Porphyry mineralizing system. Multiple vein targets remain untested throughout the property and numerous veins require follow-up drilling to extend mineralization both laterally and to depth as Equity continues its systematic evaluation of this district-scale property."
The Winter '22 program consisted of 13 core holes totaling 4,382 metres, including six holes (2,431m) at the NG-3 target and seven holes (1,931m) on the Camp and Sveinson targets. Assay results are pending and anticipated in the coming days for the remaining four holes, three which tested the west side of the Camp target and a single hole which is a step-out from a high-grade intercepts in the Sveinson target.
Figure 1: Plan Map of targets on the Silver Queen vein system, BC.
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Figure 2: Longitudinal Section of the NG-3 Target looking north.
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Table 1: Summary Composites from Drilling on the NG-3 Target
| Hole # | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) | AgEq (g/t) | Comments |
| NG-3 Target | |||||||||||
| SQ22-066 | 216.9 | 217.4 | 0.5 | 3.4 | 99 | 0.4 | 0.2 | 0.9 | 5.7 | 431 | |
| SQ22-066 | 302.6 | 303.2 | 0.6 | 0.6 | 254 | 1.6 | 0.1 | 3.3 | 7.7 | 580 | |
| SQ22-066 | 345.5 | 347.0 | 1.5 | 2.6 | 0 | 0.0 | 0.0 | 0.0 | 2.6 | 196 | |
| SQ22-066 | 422.0 | 422.3 | 0.3 | 1.4 | 55 | 0.0 | 0.1 | 5.5 | 4.9 | 369 | |
| SQ22-067 | 233.3 | 234.3 | 1.0 | 0.2 | 102 | 0.6 | 0.8 | 2.7 | 4.1 | 304 | 30% Dilution |
| inc. | 233.3 | 233.6 | 0.3 | 0.4 | 210 | 1.4 | 2.0 | 4.1 | 7.9 | 593 | |
| SQ22-067 | 307.2 | 310.9 | 3.7 | 4.9 | 75 | 0.2 | 0.1 | 0.3 | 6.3 | 472 | 36.5% Dilution |
| inc. | 308.9 | 310.4 | 1.5 | 11.7 | 167 | 0.4 | 0.1 | 0.2 | 14.5 | 1089 | |
| SQ22-068 | 113.3 | 113.9 | 0.7 | 1.2 | 47 | 0.1 | 0.1 | 0.3 | 2.2 | 164 | |
| SQ22-068 | 265.5 | 265.8 | 0.3 | 3.6 | 125 | 0.2 | 0.1 | 0.1 | 5.5 | 412 | |
| SQ22-069 | 317.9 | 319.1 | 1.2 | 3.7 | 31 | 0.1 | 0.1 | 0.1 | 4.3 | 322 | 58% Dilution |
| inc. | 318.8 | 319.1 | 0.3 | 14.2 | 82 | 0.2 | 0.3 | 0.2 | 15.8 | 1185 | |
| SQ22-069 | 321.7 | 322.0 | 0.3 | 3.8 | 213 | 0.1 | 0.5 | 0.3 | 7.1 | 530 | |
| SQ22-070 | 434.8 | 435.1 | 0.4 | 0.5 | 40 | 0.0 | 0.1 | 2.1 | 2.2 | 161 | |
| SQ22-071 | 57.6 | 58.7 | 1.1 | 0.8 | 131 | 1.4 | 0.1 | 0.6 | 4.7 | 354 | |
| inc. | 58.4 | 58.7 | 0.3 | 2.0 | 417 | 4.3 | 0.4 | 1.3 | 13.8 | 1036 | |
| SQ22-071 | 392.0 | 393.5 | 1.5 | 0.8 | 41 | 0.1 | 0.2 | 0.5 | 1.8 | 133 | |
| Hole # | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Mo (%) | Re (g/t) | CuEq (%) | AuEq (g/t) | Comments |
| NG-3 Target - Porphyry Intercepts | |||||||||||
| SQ22-071 | 389.8 | 479.00 | 89.3 | 0.1 | 2.1 | 0.2 | 0.04 | 0.4 | 0.6 | 0.8 | 0.25% CuEq Cutoff |
Samples were analyzed by FA/AAS for gold and 48 element ICP-MS by MS Analytical, Langley, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP-ES analysis, High silver overlimits (>1000g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. Silver >10,000g/t re-assayed by concentrate analysis, where a FA-Grav analysis is performed in triplicate and a weighed average reported. Composites calculated using a 80g/t AgEq (1g/t AuEq) cut-off and
About Silver Queen Project
The Silver Queen Project is a premier gold-silver property with over 100 years of historic exploration and development and is located adjacent to power, roads and rail with significant mining infrastructure that was developed under previous operators Bradina JV (Bralorne Mines) and Houston Metals Corp. (a Hunt Brothers company). The property contains an historic decline into the No. 3 Vein, camp infrastructure, and a maintained Tailings Facility.
The Silver Queen Property consists of 45 mineral claims, 17 crown grants, and two surface crown grants totalling 18,852ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 sq km area. An initial NI43-101 Mineral Resource Estimate was detailed in a News Release issued on July 16th, 2019 and is hosted by the No. 3 Vein, which is traced by drilling for approximately 1.2km and then to the southeast where it transitions into the NG-3 Vein close to the buried Itsit copper-molybdenum porphyry.
More than 20 different veins have been identified on the property, forming an extensive network of zoned Cretaceous- to Tertiary-age epithermal veins. The property remains largely under explored.
About Equity Metals Corporation
Equity Metals Corporation is a Manex Resource Group Company. Manex provides exploration, administration, and corporate development services for Equity Metals' two major mineral properties, the Silver Queen Au-Ag-Zn-Cu project, located in central B.C., and the Monument Diamond project, located in Lac De Gras, NWT. The Company also has a 1% royalty (Greenwood Royalty) and a 100% working interest in the La Ronge Silica Project.
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 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. The project owners are Equity Metals Corporation (57.49%), Chris and Jeanne Jennings (22.11%); and Archon Minerals Ltd. (20.4%). Equity Metals is the operator of the project.
The 100% controlled La Ronge Silica Project is an historic sand quarry located in central Saskatchewan, approximately 60 kilometers south-southeast of La Ronge, Saskatchewan and 210 kilometers west of Flin Flon, Manitoba. Preliminary studies indicate the silica deposit may be developed into a simple and profitable, low-cost mining and washing operation to produce high-purity silica (>98% SiO2), a specialty product for the EV battery industry.
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 ir@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/121884
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Equity Metals Corporation (TSXV: EQTY) ("Equity") reports analyses and initial test work on its 100% controlled La Ronge Silica Project, an historic sand quarry located in central Saskatchewan, approximately 60 kilometers south-southeast of La Ronge, Saskatchewan and 210 kilometers west of Flin Flon, Manitoba.
Preliminary studies indicate the silica deposit may be developed into a simple and profitable, low-cost mining and washing operation to produce high-purity silica (>98% SiO2), a specialty product. The sand can be mined very efficiently due to its unconsolidated nature. High-purity silica can be converted into silicon, which is being tested by the electric-car industry to replace or augment carbon in battery anodes to dramatically extend the time between charging. Other possible conventional uses exist in the ceramics and glass industries.
The Company acquired the lease as possible fracking sand; however, never mined the deposit. Historic mining was minimal and the extent of the silica deposit is open in all directions and at depth. Equity recognized the purity of the silica and its potential use as a low-cost material to produce silicon for the expected increase in demand due to electrification requirements. In October 2021, Equity initiated a sampling program to evaluate the deposit. Ten representative sites were sampled within the quarry, and sufficient material was collected to derive an average purity of the sand - see location of samples on the attached plan map of the quarry.
The samples were first analyzed by whole-rock analysis for SiO2, Al2O3, LOI (loss-on-ignition, organic material) and other elements. Average results of the 10 samples indicated 96.2% SiO2 and over 2% Al2O3. Assuming that much of the Al2O3 was in the form of clay and that LOI represented organics, a process was developed to wash all 10 samples in the lab and then to re-analyze the residual sample by whole-rock analysis. The result produced an average of 98.1% SiO2, with a range of 96.1 - 99.2%, and with 0.98% Al2O3 and less than 0.1% LOI. The washing process lost a relatively minor percentage of the original samples, approximately 12% of the total sample (2% clay + LOI and 10% SiO2 lost). X-ray diffraction (XRD) has determined that 100% of the material identified by XRD is quartz.
President Joe Kizis commented, "Our Silver Queen precious/base-metal property in BC will remain Equity's main focus; however, these results from the La Ronge Silica property are very encouraging and suggest it may become a "third leg" value to Equity, in addition to Silver Queen and the diamond properties.
"The Electric Vehicle industry recognizes the need to reduce frequency of battery charging in order to be widely accepted by the general public, and much progress on that front has been reported recently by adding silicon. High-purity silica is the feedstock to produce silicon, and now that we have this positive test work, we can investigate potential markets and partnerships for this specialty silica product."
Figure 1: Plan Map of showing sample locations, La Ronge Silica Project, Saskatchewan
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Table 1: Whole-rock analyses of pre- and post-washed samples, La Ronge Silica Quarry
To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/5566/120137_equitytable1.jpg
Samples were submitted to SRC Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan. A 100-gram portion of each sample was subjected to a Lithium Metaborate Fusion process and then analyzed for 16 metallic elements and LOI by ICP Whole Rock analytic techniques. 10 metal results were converted to weight percent of the original sample and then calculated to specific and probable mineral form. The remaining 6 metals are expressed as ppm content of the original sample. On receipt of these initial results, a 100-gram portion of each sample was subjected to a wash and screen process. The +63-micron fraction was re-analyzed by ICP Whole Rock analysis for the same 16 metals and LOI, with similar conversions and calculations as above. Four samples were selected analyzed for quartz content by X-Ray Diffraction. An aliquot of each sample was ground and irradiated with Cu Kα radiation in a Bruker D4 Endeavor X-ray diffractometer (XRD) operating at 1.6kW power. The raw diffraction data was processed for mineral identification and quantification. Quartz abundance was calculated using whole-pattern fitting algorithms with peak intensities scaled with internally consistent relative intensity.
About Equity Metals Corporation
Equity Metals Corporation is a Manex Resource Group Company. Manex provides exploration, administration, and corporate development services for Equity Metals' two major mineral properties, the Silver Queen Au-Ag-Zn-Cu project, located in central B.C., and the Monument Diamond project, located in Lac De Gras, NWT. The Company also has a 1% royalty (Greenwood Royalty) and a 100% working interest in the La Ronge Silica Project.
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 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. The project owners are Equity Metals Corporation (57.49%), Chris and Jeanne Jennings (22.11%); and Archon Minerals Ltd. (20.4%). Equity Metals is the operator of the project.
The 100% controlled La Ronge Silica Project is an historic sand quarry located in central Saskatchewan, approximately 60 kilometers south-southeast of La Ronge, Saskatchewan and 210 kilometers west of Flin Flon, Manitoba. Preliminary studies indicate the silica deposit may be developed into a simple and profitable, low-cost mining and washing operation to produce high-purity silica (>98% SiO2), a specialty product for the EV battery industry.
John R. Kerr, P.Eng, BASc (geology), is a Director 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 La Ronge Silica project, and prepared and approved disclosure of the technical information in this news release.
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 ir@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/120137
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Equity Metals Corporation (TSXV: EQTY) ("Equity") reports several intersections of high-grade gold and silver in three holes from the Camp and Sveinson target areas on the Silver Queen property, BC, indicating continuity of veins within the two target areas.
Drilling highlights include:
The drill intercepts are from the first three of thirteen core holes from the Winter '22 program, which tested both the Camp/Sveinson and NG-3 vein systems. The three holes tested the eastern margin of the Camp Vein target where it transitions into the 1km-long the Sveinson Extension, which was drill tested by 12 holes during the Fall of 2021 (assays previously reported, see Figures 1 and 2). Drilling confirmed the lateral projection of several shallow veins (
The Winter '22 program consisted of 13 core holes totaling 4,382 metres, including six holes (2,431m) at the NG-3 target and seven holes (1,931m) on the Camp and Sveinson targets. Assay results are pending and anticipated over the coming 6 to 8 weeks for six NG-3 holes and for the remaining four holes, three which tested the west side of the Camp target and a single hole which is a step-out from a high-grade gold intercept in the Sveinson target.
President Joe Kizis commented, "We have enjoyed nice news flow of high-grade intercepts from our drilling programs since 2020, and we are now in the process of modeling those intercepts from the Camp Vein in preparation for a maiden resource on that target, which will add to the existing 2019 resource on the No. 3 Vein and will support our initial evaluation that additional deposits exist to be discovered on this target-rich property. The Camp Vein resource is expected to be completed in mid-2022."
Figure 1: Plan Map of targets on the Silver Queen vein system, BC
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5566/118628_ad67d32f749949a8_002full.jpg
Figure 2: Longitudinal View of the Sveinson Target showing AgEq/m values
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5566/118628_ad67d32f749949a8_003full.jpg
Table 1: Summary Composites from Drilling on the Camp/Sveinson Targets
| Hole # | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) | AgEq (g/t) | Comments |
| Camp Vein | |||||||||||
| SQ21-062 | 317.0 | 317.6 | 0.6 | 0.0 | 101 | 0.0 | 0.0 | 2.5 | 2.7 | 201 | |
| Sveinson Target | |||||||||||
| SQ22-063 | 68.0 | 69.2 | 1.2 | 0.2 | 142 | 0.6 | 0.1 | 0.1 | 3.0 | 223 | |
| SQ22-063 | 250.8 | 251.4 | 0.7 | 13.6 | 690 | 5.9 | 0.1 | 0.2 | 30.3 | 2273 | |
| SQ22-063 | 325.5 | 327.3 | 1.8 | 1.8 | 90 | 0.6 | 0.3 | 1.1 | 4.4 | 334 | |
| inc. | 326.6 | 326.8 | 0.3 | 3.0 | 426 | 3.7 | 0.3 | 1.2 | 14.1 | 1054 | |
| SQ22-063 | 334.8 | 335.3 | 0.4 | 6.2 | 598 | 6.6 | 0.1 | 0.3 | 22.6 | 1698 | |
| SQ22-063 | 342.1 | 343.0 | 0.9 | 4.4 | 403 | 2.1 | 0.2 | 3.4 | 14.3 | 1070 | |
| SQ22-064 | 147.4 | 148.6 | 1.3 | 0.1 | 59 | 0.2 | 0.1 | 2.7 | 2.5 | 185 | 46% dilution |
| inc. | 148.4 | 148.6 | 0.3 | 0.1 | 90 | 0.4 | 0.1 | 7.0 | 5.3 | 401 | |
| SQ22-064 | 202.8 | 203.2 | 0.4 | 3.3 | 1226 | 2.1 | 1.2 | 3.9 | 24.8 | 1857 | |
| SQ22-065 | 69.3 | 72.1 | 2.8 | 1.7 | 22 | 0.1 | 0.1 | 1.7 | 3.1 | 233 | 35% dilution |
| inc. | 69.3 | 69.6 | 0.3 | 12.1 | 46 | 0.0 | 0.3 | 2.1 | 14.0 | 1048 | |
| SQ22-065 | 177.8 | 178.1 | 0.3 | 1.8 | 31 | 0.1 | 2.0 | 4.5 | 5.5 | 415 | |
Samples were analyzed by FA/AAS for gold and 48 element ICP-MS by MS Analytical, Langley, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP-ES analysis, High silver overlimits (>1000g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. Silver >10,000g/t re-assayed by concentrate analysis, where a FA-Grav analysis is performed in triplicate and a weighed average reported. Composites calculated using a 80g/t AgEq (1g/t AuEq) cut-off and
About Silver Queen Project
The Silver Queen Project is a premier gold-silver property with over 100 years of historic exploration and development and is located adjacent to power, roads and rail with significant mining infrastructure that was developed under previous operators Bradina JV (Bralorne Mines) and Houston Metals Corp. (a Hunt Brothers company). The property contains an historic decline into the No. 3 Vein, camp infrastructure, and a maintained Tailings Facility.
The Silver Queen Property consists of 45 mineral claims, 17 crown grants, and two surface crown grants totalling 18,852ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 sq km area. An initial NI43-101 Mineral Resource Estimate was detailed in a News Release issued on July 16th, 2019 and is hosted by the No. 3 Vein, which is traced by drilling for approximately 1.2km and then to the southeast where it transitions into the NG-3 Vein close to the buried Itsit copper-molybdenum porphyry.
More than 20 different veins have been identified on the property, forming an extensive network of zoned Cretaceous- to Tertiary-age epithermal veins. The property remains largely under explored.
About Equity Metals Corporation
Equity Metals Corporation is a Manex Resource Group Company. Manex provides exploration, administration, and corporate development services for Equity Metals' two major mineral properties, the Silver Queen Au-Ag-Zn-Cu project, located in central B.C., and the Monument Diamond project, located in Lac De Gras, NWT.
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 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. The project owners are Equity Metals Corporation (57.49%), Chris and Jeanne Jennings (22.11%); and Archon Minerals Ltd. (20.4%). Equity Metals is the operator of the project.
The Company also has royalty and working interests in other Canadian properties, which are being evaluated further to determine their value to the Company.
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 ir@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/118628
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Equity Metals Corporation (TSXV: EQTY) ("Equity") reports drill results with multiple +500gt Ag-eq intervals (see attached table below) from the western portion of the Sveinson target on the Silver Queen property, BC. Highlights include hole SQ21-059 which returned multiple high-grade gold-silver-polymetallic intercepts, including:
The drill intercepts are from the final six of twelve core holes which tested the western half of the 1-kilometre long Sveinson target during the Fall of 2021 (see Figures 1 and 2). Drilling was widely spaced, but successfully intersected multiple shallow veins at less than 100 metres below surface, as well as deeper vein intercepts up to 400 metres below surface. Veins were intersected across the full 150 metre width of the Sveinson structural zone, with preliminary 3D modeling indicating continuity between these drill holes and the earlier released holes from the eastern end of the target area and previously reported holes from the Camp and No. 3 vein targets.
The Sveinson target is a broad east-west-trending structural zone which forms the transition from the strongly silver-enriched Camp target to the west into the gold-enriched southern portion of the No. 3 target to the east. Four separate veins, initially modelled from the Camp target, project into the Sveinson target and were primary targets of this most recent drill testing.
VP Exploration Rob Macdonald commented, "These most recent drill results continue to establish the continuity of high-grade mineralization in the Camp/Sveinson targets, extending mineralization to over 1.25 kilometres in strike-length and not only confirming the presence of multiple mineralized structures, but also the high-grade tenor of both silver and gold mineralization."
The company also reports it has completed its Winter'22 drill program on the property. The program consisted of 13 core holes totaling 4,382 metres, including six holes (2,431m) at the NG-3 target and seven holes (1,931m) on the Camp and Sveinson targets. Logging and sampling are in progress. Assay results are pending and anticipated over the coming 6 to 8 weeks.
Figure 1: Plan Map of targets on the Silver Queen vein system, BC
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5566/115334_8e5b79f2b4fe99f5_002full.jpg
Figure 2: Longitudinal View of the Sveinson Target showing AgEq/m values.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5566/115334_8e5b79f2b4fe99f5_003full.jpg
Table 1: Summary Composites from September2021 Drilling on the Sveinson Target.
| Hole # | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) | AgEq (g/t) | Comments |
| SQ21-056 | 47.9 | 48.4 | 0.5 | 0.5 | 44 | 0.2 | 1.9 | 3.2 | 3.8 | 285 | |
| SQ21-056 | 122.3 | 123.0 | 0.7 | 1.5 | 38 | 1.0 | 0.1 | 0.7 | 3.6 | 270 | |
| SQ21-057 | 125.6 | 129.5 | 3.9 | 0.8 | 23 | 0.0 | 0.8 | 1.9 | 2.5 | 187 | 26% Dilution |
| inc. | 125.6 | 126.5 | 0.8 | 2.0 | 54 | 0.1 | 1.8 | 5.7 | 6.5 | 489 | |
| SQ21-057 | 234.3 | 234.8 | 0.5 | 0.1 | 978 | 0.0 | 0.5 | 0.3 | 13.5 | 1011 | |
| SQ21-057 | 266.0 | 267.2 | 1.2 | 2.2 | 145 | 0.0 | 6.0 | 7.6 | 10.7 | 802 | 21% Dilution |
| inc. | 266.5 | 267.2 | 0.7 | 3.5 | 248 | 0.0 | 10.2 | 9.8 | 16.4 | 1233 | |
| SQ21-057 | 466.5 | 466.8 | 0.3 | 0.9 | 47 | 0.4 | 0.1 | 9.7 | 6.9 | 518 | |
| SQ21-057 | 477.9 | 479.5 | 1.5 | 0.7 | 63 | 1.1 | 0.0 | 0.0 | 2.9 | 218 | |
| SQ21-058 | 110.7 | 111.0 | 0.3 | 0.1 | 36 | 0.1 | 0.1 | 11.7 | 6.6 | 494 | |
| SQ21-058 | 301.4 | 303.4 | 2.0 | 0.6 | 52 | 0.0 | 0.7 | 3.5 | 3.4 | 257 | 26% Dilution |
| inc. | 302.4 | 303.4 | 1.0 | 0.6 | 79 | 0.0 | 0.9 | 5.8 | 5.0 | 379 | |
| SQ21-059 | 31.5 | 32.0 | 0.6 | 0.5 | 147 | 1.1 | 0.5 | 1.8 | 5.0 | 377 | |
| SQ21-059 | 94.1 | 96.7 | 2.6 | 3.8 | 509 | 0.8 | 1.1 | 4.3 | 14.2 | 1064 | |
| inc. | 95.0 | 96.0 | 1.0 | 9.5 | 1355 | 2.1 | 2.5 | 10.6 | 36.6 | 2746 | |
| inc. | 95.6 | 96.0 | 0.4 | 22.5 | 3473 | 5.6 | 2.5 | 1.8 | 77.8 | 5837 | |
| SQ21-059 | 99.6 | 101.1 | 1.5 | 0.9 | 141 | 0.2 | 0.2 | 0.3 | 3.2 | 242 | |
| SQ21-059 | 204.4 | 205.5 | 1.0 | 17.5 | 25 | 0.0 | 0.1 | 0.8 | 18.2 | 1368 | 48% Dilution |
| inc. | 204.4 | 204.7 | 0.3 | 59.3 | 78 | 0.0 | 0.3 | 2.0 | 61.5 | 4612 | |
| SQ21-059 | 302.9 | 304.0 | 1.1 | 3.1 | 20 | 0.1 | 0.1 | 0.3 | 3.7 | 275 | |
| SQ21-059 | 307.6 | 308.4 | 0.8 | 1.5 | 106 | 0.2 | 0.5 | 3.1 | 4.9 | 371 | |
| SQ21-060 | 91.4 | 91.6 | 0.2 | 1.1 | 104 | 0.1 | 17.8 | 2.7 | 12.0 | 899 | |
| SQ21-060 | 215.6 | 216.8 | 1.3 | 0.4 | 16 | 0.1 | 0.9 | 1.1 | 1.7 | 129 | |
| inc. | 216.6 | 216.8 | 0.3 | 1.2 | 44 | 0.0 | 4.5 | 4.0 | 5.9 | 442 | |
| SQ21-060 | 289.3 | 289.6 | 0.4 | 2.1 | 51 | 0.1 | 0.3 | 1.8 | 4.0 | 301 | |
| SQ21-061 | 230.4 | 231.4 | 1.0 | 0.3 | 83 | 0.0 | 3.3 | 3.5 | 4.7 | 354 | |
| SQ21-061 | 285.6 | 286.2 | 0.6 | 2.3 | 131 | 0.0 | 6.1 | 8.2 | 11.0 | 827 | |
| SQ21-061 | 288.9 | 289.2 | 0.3 | 1.3 | 118 | 0.0 | 4.1 | 5.8 | 7.6 | 572 | |
| |
Samples were analyzed by FA/AAS for gold and 48 element ICP-MS by MS Analytical, Langley, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP-ES analysis, High silver overlimits (>1000g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. Silver >10,000g/t re-assayed by concentrate analysis, where a FA-Grav analysis is performed in triplicate and a weighed average reported. Composites calculated using a 80g/t AgEq (1g/t AuEq) cut-off and
About Silver Queen Project
The Silver Queen Project is a premier gold-silver property with over 100 years of historic exploration and development and is located adjacent to power, roads and rail with significant mining infrastructure that was developed under previous operators Bradina JV (Bralorne Mines) and Houston Metals Corp. (a Hunt Brothers company). The property contains an historic decline into the No. 3 Vein, camp infrastructure, and a maintained Tailings Facility.
The Silver Queen Property consists of 45 mineral claims, 17 crown grants, and two surface crown grants totalling 18,852ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 sq km area. An initial NI43-101 Mineral Resource Estimate was detailed in a News Release issued on July 16th, 2019 and is hosted by the No. 3 Vein, which is traced by drilling for approximately 1.2km and then to the southeast where it transitions into the NG-3 Vein close to the buried Itsit copper-molybdenum porphyry.
More than 20 different veins have been identified on the property, forming an extensive network of zoned Cretaceous- to Tertiary-age epithermal veins. The property remains largely under explored.
About Equity Metals Corporation
Equity Metals Corporation is a Manex Resource Group Company. Manex provides exploration, administration, and corporate development services for Equity Metals' two major mineral properties, the Silver Queen Au-Ag-Zn-Cu project, located in central B.C., and the Monument Diamond project, located in Lac De Gras, NWT.
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 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. The project owners are Equity Metals Corporation (57.49%), Chris and Jeanne Jennings (22.11%); and Archon Minerals Ltd. (20.4%). Equity Metals is the operator of the project.
The Company also has royalty and working interests in other Canadian properties, which are being evaluated further to determine their value to the Company.
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 ir@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/115334
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Prospect Ridge Resources' compelling investment value proposition stems from the company's robust growth ambitions driven by its highly prospective assets near the renowned Golden Triangle region, and a management team with substantial technical expertise.
Prospect Ridge (CSE:PRR,OTC:PRRSF,FRA:OED) is a precious metals exploration company focused on key projects in Northern British Columbia near the prolific Golden Triangle. The Golden Triangle in northwest British Columbia has been a hub for mineral exploration and mining endeavors for over 150 years. The company owns 100 percent of both the Knauss Creek property and the Holy Grail property.
The Knauss Creek property resembles the high-grade mineralization found in the historical Dorreen mine. Exploration at Knaus Creek has revealed high-grade mineralization comprising gold, silver, copper, lead and zinc. The Copper Ridge zone, which is in the southern part of the Knauss Creek property, is particularly interesting. In 2023, a total of 241 samples were collected from this area which extended the Copper Ridge mineralized zones over an east-west strike length of 1,550 meters, a north-south strike of 850 meters, and a height difference of 470 meters.
Prospect Ridge Resources has also completed an inaugural drilling program at the Copper Ridge zone to test high-priority targets covering an area of 1,550 metres by 850 metres.
The other property, Holy Grail, has also historically produced high-grade gold and silver from placer mining. Prospecting results at the Holy Grail property showed exceptional promise, uncovering significant discoveries of gold, silver, copper, lead and zinc.
Prospect Ridge benefits from a team of professionals boasting extensive expertise in geology and mining. The company is led by Micheal Iverson, CEO, who has more than three decades of experience in mining exploration. The management team has a proven track record of executing several successful exploration and development projects, including Fortuna Silver Mines and NioGold Mining’s Marban project.
The Knauss Creek property, situated 35 kms north of Terrace, BC, spans 2,944. It has excellent infrastructure access, proximity to Highway 16, numerous logging roads traversing it, and the Canadian National Railway passing through.
The property is home to the historical Dorreen mine. Various showings on the property, including the Jay Veins, Hugin, Kandy and Copper Ridge, contain gold, silver, copper, lead and zinc mineralization. The current focus is on the Copper Ridge zone, a high-grade polymetallic mineralization zone spanning 1,500 meters.
Assays from outcrop samples gathered during the 2023 prospecting season have revealed numerous high-grade gold, silver and copper findings. Highlights from rock outcrop sampling, include:
Consequently, the Copper Ridge zone has been extended, now measuring an east-west length of 1,550 meters, a north-south strike length of 850 meters, and a vertical difference of 470 meters. Field data suggests the veins follow a north-south orientation and dip towards the east.
The interpretation suggests the zone comprises a network of mineralized veins arranged like a ladder hosted within a dioritic intrusion.
The company has completed an inaugural drilling program to evaluate drill-ready targets like the Copper Ridge zone, the Leon’s Legacy and Dorreen Mine showings.
The Holy Grail property is located 10 km north of Terrace, BC, and forms a horseshoe that encloses the fully owned Knauss Creek property in its southeastern part. It currently spans 70,109 hectares. The property is easily accessible via a highway, multiple serviced roads, logging roads, and ATV trails that cross cut it.
Prospecting results from the Holy Grail property displayed remarkable potential through substantial findings of gold, silver, copper, lead and zinc. Key highlights of the results include:
Michael Iverson has over three decades of experience in public and private capital markets. He also has significant experience in the mining industry, having founded Niogold Mining and Fortuna Silver Mines. At Niogold, he spearheaded the acquisition and exploration of an expansive land parcel in Val D’Or, leading to the company's acquisition by Oban Mining, presently known as Osisko Mining , at a substantial premium to its market capitalization. At Fortuna, he played a vital role in the company's prosperous evolution into a silver producer with operational mines in Peru and Mexico. Iverson, over his entire career spanning three decades, has achieved, in aggregate, market capitalizations in excess of $1 billion.
Yan Ducharme is a professional geologist with over 25 years of experience in greenfield and brownfield exploration projects in Quebec, Ontario, Africa and South America. He was on the exploration team at SEMAFO and Cambior/Iamgold and was an exploration manager at NioGold (then vice-president exploration), Canadian Malartic, SOQUEM, and Wesdome Gold Mine. He worked in underground mines and open pits. Ducharme obtained a masters in earth sciences from the University of Quebec in Montreal.
Jasmine Lau is a seasoned finance and accounting expert with a wealth of experience as a CFO in the mineral exploration and resource sector, having worked on projects across the globe. She was employed in internal audit at Teck Resources and Deloitte, where she focused on audits of public mining and resource companies. Lau is a CPA, CA, and holds a Bachelor of Commerce degree from the University of British Columbia.
Simon Ridgway is the CEO of Rackla Metals, a Vancouver-based junior gold exploration company listed on the TSX Venture Exchange since September 2011. He is also the CEO, president and director of Volcanic Gold Mines, a Vancouver-based company engaged in gold and silver property acquisition and exploration.
Michael Michaud is a professional geologist with over 30 years of experience. He is an expert in developing and executing regional and mine-site exploration strategies across diverse deposit types in North and South America, Africa, Asia and Europe. Michaud is the vice-president of exploration at Wesdome Gold Mines. He also held roles at several firms, including Iamgold, St Andrew Goldfields, SRK Consulting and North American Palladium. Michaud holds an honors B.Sc. from the University of Waterloo and an M.Sc. from Lakehead University.
Toby Lim has been a practicing solicitor since 1997, focusing on corporate and securities law. He received a Bachelor of Commerce degree with honours from the University of British Columbia in 1992, followed by a Bachelor of Laws degree from Osgoode Hall Law School in Ontario in 1996.
Jacques Brunelle has over three decades of involvement in the North American mining sector. He has held executive positions as president and director in publicly traded companies, including Niogold Mining, where he served in 2003, culminating in a successful acquisition by Osisko Mining in 2016. Throughout his career, Brunelle has raised substantial funds for exploration and equity financing initiatives in both public and private enterprises.
Bradley Scharfe has over 25 years of experience in North America's capital markets. Scharfe has led financing endeavors throughout his career and assembled robust companies across various sectors, including resources and commodities. He specializes in raising, deploying and managing venture capital for companies in their early growth stages. Previously, Scharfe served as a venture capital stockbroker with Canaccord Capital, a leading Canadian investment firm. Scharfe holds a Bachelor of Arts degree from the University of Toronto, where he majored in commerce and economics.
Key Points
Remorse Target
High-grade iron
In addition to the lab results for the first drillhole previously reported 1, the Company is pleased to announce the completion of drilling and that follow-up results in subsequent drillholes confirm the presence of high-grade iron at the Remorse Target. New results include:
WARDH00180 16m @ 32.6% Fe from 93m (pXRF)
WARDH00169 20m @ 32.3% Fe from 120m (pXRF)
and 11m @ 30.8% Fe from 182m (pXRF)
WARDH00166 7m @ 32.8% Fe from 96m (Lab)
WARDH00171 8m @ 30.1% Fe from 130m (pXRF)
* Portable XRF (pxrf) results are not comparable in reliability to authorised laboratory results and should be not relied on for quantitative purposes outside indicative demonstrations of potential order of magnitude of enrichments.
Background
TEM has completed the first phase of RC drilling at the Remorse Target of its flagship Yalgoo Project. In total, 21 RC holes were drilled for 4,005m. Samples have been Boxscanned (pXRF) and submitted to the lab and final assay results are expected in December 2024.
The previously reported iron intercept from the first hole drilled at Remorse was WARDH00160 of 32m @ 30.0% Fe from 96m (including 7m @ 37% Fe) (Lab).
The Remorse Target is part of Tempest's broader Yalgoo Project which spans over 1,000 square kilometres of prospective terrain for base metals, precious metals and iron ore.
Figure 01: Section through iron mineralisation WARDH00180
Figure 02: Section through iron mineralisation WARDH00169 and WARDH00163-165.
All samples collected have been analysed using a Boxscan unit which includes a mounted portable X-ray fluorescence (pXRF). Although not as accurate as laboratory analysis, pXRF data when collected in a quality and consistent manner can also exhibit high accuracy and precision. The pXRF data has been compared with assays received to date (>800 samples) and has an average variance of -4.2% and a median of -4.3%. The results indicate the accuracy is considered acceptable for current exploration reporting purposes (and potentially an overall slight underestimation by pXRF).
Remaining assay results are due in December and are expected to correlate strongly with the pxrf results announced.
As previously advised, the drill program design was focused on the strong base metal geochemical anomaly exhibited at the Remorse Target 2. The planned holes were focused strongly on testing the 'hanging wall' stratigraphy at Remorse and were not initially focused on the newly identified iron layer. However, the program did result in the 4 most northerly drill holes intercepting the main magnetite layer and numerous holes intercepting adjacent magnetite-rich layers.
The widely spaced drilling shows continuity and consistency over more than 2 kilometres and identical iron-rich stratigraphy outcrops can be traced over an extensive 5-kilometre zone correlating with the original Remorse Target footprint.
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