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
News Provided by Newsfile via QuoteMedia
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
News Provided by Newsfile via QuoteMedia
The Terra Studio report from April 14, 2025, outlines several compelling reasons why Castle Minerals presents an attractive investment opportunity.
Strategic Location and Recent Discoveries
Castle's projects are located in northern Ghana, which hosts several major gold deposits including Cardinal Resources' 5.1 Moz Namdini deposit. The company's Kpali gold project has confirmed robust mineralization with impressive drill results including 12 m at 8.29 grams per ton (g/t) gold and 9 m at 4.81 g/t gold, while the Kandia gold project has demonstrated promising continuity with results like 7 m at 3.36 g/t gold.
Geological Advantage
The report emphasizes that Castle's Kpali area sits at the convergence of two major fertile greenstone belts and three regional-scale structures that host multi-million-ounce deposits in the region – a geological setting similar to higher-valued projects in West Africa.
Strong Leadership and Financial Position
The company is led by Stephen Stone, who previously grew the nearby Black Volta gold project to 2.80 million ounces of mineral resources. Following a recent AU$3 million placement, Castle Minerals is well-funded to continue its exploration activities.
For the full analyst report, click here.
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In addition to gold climbing to record highs, the US dollar sank to its lowest point in three years with the DXY dollar index falling to 99.3 points on Thursday.
Gold price chart, April 10, 2025, to April 17, 2025.
Gold price chart via the Investing News Network.
Gold prices have soared in recent weeks amidst the chaos caused by Donald Trump's tariff announcements on April 2.
Those measures included a 10 percent tariff on all but a handful of countries, including Canada and Mexico, with more severe reciprocal tariffs to come into effect this week. However, on April 9, Trump announced he would pause the additional tariffs for 90 days, saying more than 70 countries had contacted him to make deals.
Trump may have also been feeling pressure from economic advisors as a surge in treasury yields signaled a potential economic crisis brewing in the US bond market. Normally a safe haven during market volatility, the bond market saw a significant selloff this week as US tariffs and worries about the US economy's stability spooked traders.
Although the pause gave most countries some breathing room, tariffs against China were left on the table. After much back and forth, US tariffs levied against China have now increased to 145 percent.
The net effect of Trump's actions has been political and financial turmoil, sparking selloffs in major stock markets and pushing prices for safe-haven assets like gold to fresh records.
Additionally, China, Japan and South Korea agreed on March 30 to seek deeper free trade ties in response to the threat of tariffs from the US government. The deal marks a significant move by the three countries following decades of US diplomacy to maintain close relationships with Japan and South Korea.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Some have posited that the gold price may rise as high as US$4,000 or US$5,000 per ounce, and there are even those who believe that US$10,000 gold or even US$40,000 gold could become a reality.
These impressive price predictions have investors wondering, what is gold's all-time high (ATH)?
In the past year, gold has reached a new all-time high dozens of times. Find out what has driven it to these levels, plus how the gold price has moved historically and what has driven its performance in recent years.
Before discovering what the highest gold price ever was, it’s worth looking at how the precious metal is traded. Knowing the mechanics behind gold's historical moves can help illuminate why and how its price changes.
Gold bullion is traded in dollars and cents per ounce, with activity taking place worldwide at all hours, resulting in a live price for the metal. Investors trade gold in major commodities markets such as New York, London, Tokyo and Hong Kong. London is seen as the center of physical precious metals trading, including for silver. The COMEX division of the New York Mercantile Exchange is home to most paper trading.
There are many popular ways to invest in gold. The first is through purchasing gold bullion products such as bullion bars, bullion coins and rounds. Physical gold is sold on the spot market, meaning that buyers pay a specific price per ounce for the metal and then have it delivered. In some parts of the world, such as India, buying gold in the form of jewelry is the largest and most traditional route to investing in gold.
Another path to gold investment is paper trading, which is done through the gold futures market. Participants enter into gold futures contracts for the delivery of gold in the future at an agreed-upon price.
In such contracts, two positions can be taken: a long position under which delivery of the metal is accepted or a short position to provide delivery of the metal. Paper trading as a means to invest in gold can provide investors with the flexibility to liquidate assets that aren’t available to those who possess physical gold bullion.
One significant long-term advantage of trading in the paper market is that investors can benefit from gold’s safe-haven status without needing to store it. Furthermore, gold futures trading can offer more financial leverage in that it requires less capital than trading in the physical market.
Interestingly, investors can also purchase physical gold via the futures market, but the process is complicated and lengthy and comes with a large investment and additional costs.
Aside from those options, market participants can invest in gold through exchange-traded funds (ETFs). Investing in a gold ETF is similar to trading a gold stock on an exchange, and there are numerous gold ETF options to choose from. For instance, some ETFs focus solely on physical gold bullion, while others focus on gold futures contracts. Other gold ETFs center on gold-mining stocks or follow the gold spot price.
It is important to understand that you will not own any physical gold when investing in an ETF — in general, even a gold ETF that tracks physical gold cannot be redeemed for tangible metal.
With regards to the performance of gold versus trading stocks, gold has an interesting relationship with the stock market. The two often move in sync during “risk-on periods” when investors are bullish. On the flip side, they tend to become inversely correlated in times of volatility. There are a variety of options for investing in stocks, including gold mining stocks on the TSX and ASX, gold juniors, precious metals royalty companies and gold stocks that pay dividends.
According to the World Gold Council, gold's ability to decouple from the stock market during periods of stress makes it “unique amongst most hedges in the marketplace.” It is often during these times that gold outperforms the stock market. For that reason, it is often used as a portfolio diversifier to hedge against uncertainty.
Gold price chart, December 31, 2024, to April 14, 2025.
Chart via the Investing News Network.
The gold price peaked at US$3,354.10 per ounce, its all-time high, during trading on April 16, 2025.
What drove it to set this new ATH? Gold set its latest high price of 2025 on April 16 as markets and the US dollar fell and gold purchasing in China continued to ramp up significantly in response to US tariffs on the country.
The gold price has set a string of new highs this month alone amid high market volatility as markets react to the latest tariff decisions from US President Donald Trump and the escalating trade war between the US and China. As of April 11, Trump has now raised US tariffs on Chinese imports to 145 percent and China has raised its tariffs on US products to 125 percent.
Two days earlier, Trump paused his higher "Liberation Day" tariffs on any countries that did not reciprocate in response. However, the blanket 10 percent tariffs still stand, as do the 25 percent tariffs on the automotive sector.
This string of record-breaking highs this year are caused by several factors.
Increased economic and geopolitical turmoil caused by the new Trump administration has been a tailwind for gold this year, as well as a weakening US dollar, sticky inflation in the country and increased safe haven gold demand.
Since coming into office in late January, Trump has threatened or enacted tariffs on many countries, including currently paused blanket tariffs on long-time US allies Canada and Mexico and tariffs on the European Union. Trump has also implemented 25 percent tariffs on all steel and aluminum imports.
As for the effect of these wide-spread tariffs raising prices for the American populace, Trump has reiterated his sentiment that the US may need to go through a period of economic pain to enter a new "golden age" of economic prosperity. Elon Musk's call to audit the gold holdings in Fort Knox has also brought attention to the yellow metal.
Five year gold price chart, April 13, 2020, to April 14, 2025.
Chart via the Investing News Network.
Despite these recent runs, gold has seen its share of both peaks and troughs over the last decade. After remaining rangebound between US$1,100 and US$1,300 from 2014 to early 2019, gold pushed above US$1,500 in the second half of 2019 on a softer US dollar, rising geopolitical issues and a slowdown in economic growth.
Gold’s first breach of the significant US$2,000 price level in mid-2020 was due in large part to economic uncertainty caused by the COVID-19 pandemic. To break through that barrier and reach what was then a record high, the yellow metal added more than US$500, or 32 percent, to its value in the first eight months of 2020.
The gold price surpassed that level again in early 2022 as Russia's invasion of Ukraine collided with rising inflation around the world, increasing the allure of safe-haven assets and pulling the yellow metal up to a price of US$2,074.60 on March 8, 2022. However, it fell throughout the rest of 2022, dropping below US$1,650 in October.
Although it didn't quite reach the level of volatility as the previous year, the gold price experienced drastic price changes in 2023 on the back of banking instability, high interest rates and the breakout of war in the Middle East.
After central bank buying pushed the gold price up to the US$1,950.17 mark by the end of January, the US Federal Reserve’s 0.25 percent rate hike on February 1 sparked a retreat as the dollar and Treasury yields saw gains. The precious metal went on to fall to its lowest price level of the year at US$1,809.87 on February 23.
The banking crisis that hit the US in early March caused a domino effect through the global financial system and led to the mid-March collapse of Credit Suisse, Switzerland’s second-largest bank. The gold price jumped to US$1,989.13 by March 15. The continued fallout in the global banking system throughout the second quarter of the year allowed gold to break above US$2,000 on April 3, and go on to flirt with a near-record high of US$2,049.92 on May 3.
Those gains were tempered by the Fed’s ongoing rate hikes and improvements in the banking sector, resulting in a downward trend in the gold price throughout the remainder of the second quarter and throughout Q3. By October 4, gold had fallen to a low of US$1,820.01 and analysts expected the precious metal to drop below US$1,800.
That was before the October 7 attacks by Hamas on Israel ignited legitimate fears of a much larger conflict erupting in the Middle East. Reacting to those fears, and to rising expectations that the Fed would begin to reverse course on interest rates, gold broke through the important psychological level of US$2,000 and closed at US$2,007.08 on October 27. As the Israel-Hamas fighting intensified, gold reached a then new high of US$2,152.30 during intraday trading on December 3.
That robust momentum in the spot gold price has continued into 2024, chasing new highs on fears of a looming US recession, the promise of Fed rate cuts on the horizon, the worsening conflict in the Middle East and the tumultuous US presidential election year. By mid-March, gold was pushing up against the US$2,200 level.
That record-setting momentum continued into the second quarter of 2024 when gold broke through US$2,400 in mid-April on strong central bank buying, sovereign debt concerns in China and investors expecting the Fed to start cutting interest rates. The precious metal went on to hit US$2,450.05 on May 20.
Throughout the summer, the hits have just kept on coming.
The global macro environment is highly bullish for gold in the lead up to the US election. Following the failed assassination attempt on Trump and a statement about coming interest rate cuts by Fed Chair Jerome Powell, the gold spot price hit a new all-time high on July 16 at US$2,469.30. One week later, news that President Joe Biden would not seek re-election and would instead pass the baton to Vice President Kamala Harris eased some of the tension in the stock markets and strengthened the US dollar. This also pushed the price of gold down to US$2,387.99 on July 22.
However, the bullish factors supporting gold over the past year remain in play, and the spot price for gold went on to breach US$2,500 on August 2 on a less than stellar US jobs report; it closed just above the US$2,440 level. A few weeks later, gold pushed past US$2,500 once again on August 16, closing above that level for the first time ever after the US Department of Commerce released data showing a fifth consecutive monthly decrease in a row for homebuilding.
The news that the Chinese government issued new gold import quotas to banks in the country following a two month pause also helped fuel the gold price rally. Central bank gold buying has been a significant tailwind for the gold price this year, and China's central bank has been one of the strongest buyers.
Market watchers expected the Fed to cut interest rates by a quarter point at their September meeting, but news on September 12 that the regulators were still deciding between the expected cut or a larger half-point cut led gold prices on a rally that carried through into the next day, bringing gold prices near US$2,600.
At the September 18 Fed meeting, the committee ultimately made the decision to cut rates by half a point, news that sent gold even higher. By Friday, September 20, it moved above US$2,600 and held above US$2,620.
In October, gold breached the US$2,700 level and continued to set new highs on a variety of factors, including further rate cuts and economic data anticipation, the escalating conflict in the Middle East between Israel and Hezbollah, and economic stimulus in China — not to mention the very close race between the US presidential candidates.
While the gold price fell following Trump's win in early November and largely held under US$2,700 through the end of the year, it began trending upwards in 2025 to the new all-time high discussed earlier in the article.
Gold has seen upward momentum in the last year on a variety of factors.
In 2025, the gold price was on the rise early in the new year as Trump and his team began to talk seriously about a wide-ranging set of tariffs on several countries in the run up and following his inauguration on January 20.
On January 29, the Bank of Canada shaved 25 basis points off its policy interest rate, marking its sixth consecutive decrease, and announced plans to end quantitative tightening.
On the same day, the Fed opted to leave interest rates unchanged. The following day, Trump said he would very likely be placing 25 percent tariffs on Mexico and Canada as of February 1, alongside tariffs on the EU and China.
Gold price set new highs in all currencies alongside a weakening US dollar, the Fed leaving interest rates unchanged, a rush to safe haven assets and the looming threat of Trump's tariffs on February 1.
Additionally, new US economic data showed inflation-adjusted gross domestic product in the country increased an annualized 2.3 percent in the fourth quarter of 2024 after rising 3.1 percent in the third quarter.
Some other factors supporting gold to new highs include Trump threatening to annex Greenland, Canada and the Panama Canal, Trump's proposed resettlement of Palestinians out of the Gaza Strip to develop it into "the Riviera of the Middle East," a suggestion that has been condemned globally, and him appearing to side with Putin against Ukrainian President Volodymyr Zelenskyy regarding Russia's invasion of Ukraine.
What's next for the gold price is never an easy call to make. There are many factors that affect the gold price, but some of the most prevalent long-term drivers include economic expansion, market risk, opportunity cost and momentum.
Economic expansion is one of the primary gold price contributors as it facilitates demand growth in several categories, including jewelry, technology and investment. As the World Gold Council explains, “This is particularly true in developing economies where gold is often used as a luxury item and a means to preserve wealth.”
Market risk is also a prime catalyst for gold values as investors view the precious metal as the “ultimate safe haven,” and a hedge against currency depreciation, inflation and other systemic risks.
Going forward, in addition to the Fed, inflation and geopolitical events, experts will be looking for cues from factors like supply and demand. In terms of supply, the world’s five top gold producers are China, Australia, Russia, Canada and the US. The consensus in the gold market is that major miners have not spent enough on gold exploration in recent years. Gold mine production has fallen from around 3,200 to 3,300 metric tons each year between 2018 and 2020 to around 3,000 to 3,100 metric tons each year between 2021 and 2023.
On the demand side, China and India are the biggest buyers of physical gold, and are in a perpetual fight for the title of world’s largest gold consumer. That said, it's worth noting that the last few years have brought a big rebound in central bank gold buying, which dropped to a record low in 2020, but reached a 55 year high of 1,136 metric tons in 2022.
The World Gold Council has reported that central bank gold purchases in 2023 came to 1,037 metric tons, marking the second year in a row above 1,000 MT. In the first half of 2024, the organization says gold purchases from central banks reached a record 483 metric tons.
“I expect the Fed’s rate-cutting cycle to be good for gold, but central bank buying has been and remains a major factor," Lobo Tiggre, CEO of IndependentSpeculator.com, said in an email to the Investing News Network (INN) at the beginning of Q4.
David Barrett, CEO of the UK division of global brokerage firm EBC Financial Group, is also keeping an eye on central bank purchases of gold.
“I still see the global central bank buying as the main driver — as it has been over the last 15 years,” he said in an email to INN. "This demand removes supply from the market. They are the ultimate buy-and-hold participants and they have been buying massive amounts."
In addition to central bank moves, analysts are also watching for escalating tensions in the Middle East, a weakening US dollar, declining bond yields, and further interest rate cuts as factors that could push gold higher as investors look to secure their portfolios.
“When it comes to outside factors that affect the market, it’s just tailwind after tailwind after tailwind. So I don’t really see the trend changing,” Coffin said.
Randy Smallwood of Wheaton Precious Metals (TSX:WPM,NYSE:WPM) told INN in March 2025 that gold is seeing support from many factors, including central bank buying, nervousness around the US dollar and stronger institutional interest. According to Smallwood, he is seeing an influx of fund managers wanting to learn about precious metals.
Check out more of INN's interviews to find out what experts have said about the gold price during its 2025 bull run and where it could go next.
As a final note on the price of gold and buying gold bullion, it’s important for investors to be aware that gold price manipulation is a hot topic in the industry.
In 2011, when gold hit what was then a record high, it dropped swiftly in just a few short years. This decline after three years of impressive gains led many in the gold sector to cry foul and point to manipulation.
Early in 2015, 10 banks were hit in a US probe on precious metals manipulation. Evidence provided by Deutsche Bank (NYSE:DB) showed “smoking gun” proof that UBS Group (NYSE:UBS), HSBC Holdings (NYSE:HSBC), the Bank of Nova Scotia (NYSE:BNS) and other firms were involved in rigging gold and silver rates in the market from 2007 to 2013.
Not long after, the long-running London gold fix was replaced by the LBMA gold price in a bid to increase gold price transparency. The twice-a-day process, operated by the ICE Benchmark Administration, still involves a variety of banks collaborating to set the gold price, but the system is now electronic.
Still, manipulation has by no means been eradicated, as a 2020 fine on JPMorgan (NYSE:JPM) shows. The next year, chat logs were released in a spoofing trial for two former precious metals traders from the Bank of America’s (NYSE:BAC) Merrill Lynch unit. They show a trader bragging about how easy it is to manipulate the gold price.
Gold market participants have consistently spoken out about manipulation. In mid-2020, Chris Marcus, founder of Arcadia Economics and author of the book “The Big Silver Short,” said that when gold fell back below the US$2,000 mark after hitting close to US$2,070, he saw similarities to what happened with the gold price in 2011.
Marcus has been following the gold and silver markets with a focus specifically on price manipulation for nearly a decade. His advice? “Trust your gut. I believe we’re witnessing the ultimate ’emperor’s really naked’ moment. This isn’t complex financial analysis. Sometimes I think of it as the greatest hypnotic thought experiment in history.”
While we have the answer to what the highest gold price ever is as of now, it remains to be seen how high gold can climb, and if the precious metal can reach as high as US$5,000, US$10,000 or even US$40,000.
Even so, many market participants believe gold is a must have in any investment profile, and there is little doubt investors will continue to see gold price action making headlines this year and beyond.
This is an updated version of an article first published by the Investing News Network in 2020.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
