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Equity Metals Corporation (TSXV: EQTY,OTC:EQMEF) ("Equity") reports initial assay results from the Summer '25 drill program on its 100% owned Silver Queen Au-Ag project, British Columbia, which include new assays from five holes that tested the extension of the No. 3 North target.
Assay highlights from the first five holes include:
A 3.5 metre (Est. TT) interval grading 2.3g/t Au, 167g/t Ag, 1.3% Cu, 0.3% Pb and 2.0% Zn (536g/t AgEq or 7.4g/t AuEq) including a 0.7 metre (est. TT) interval averaging 2.8g/t Au, 491g/t Ag, 4.5% Cu, 0.8% Pb and 6.1% Zn (1,374g/t AgEq or 19.0g/t AuEq) from SQ25-148;
A 1.7 metre (Est. TT) interval grading 3.7g/t Au, 39g/t Ag, 0.2% Cu, 0.5% Pb and 13.8% Zn (788g/t AgEq or 10.9g/t AuEq) including 0.9 metre (est. TT) interval averaging 6.3g/t Au, 30g/t Ag, 0.2% Cu, 0.2% Pb and 18.7% Zn (1,123g/t AgEq or 15.5g/t AuEq) from SQ25-148; and
A 2.4 metre (Est. TT) interval grading 0.6g/t Au, 12g/t Ag, and 7.4% Zn (305g/t AgEq or 4.2g/t AuEq) including a 0.5m interval grading 1.8g/t Au, 39g/t Ag, and 34.9% Zn (1,331g/t AgEq or 18.4g/t AuEq) from SQ24-151.
These results represent the first set of intercepts from drill targets that tested down-dip of previously reported mineralization identified in 2024 drilling. Mineralization along this 150-metre segment has now been extended to over 350 metres below surface, and drilling confirms the down-dip continuity of the No. 3 Vein in this area. Several additional veins have been intersected in drilling and include a copper-enriched hanging wall vein and deeper vein intercepts that correlate with the No. 2 vein, which is described in historical records and was intersected in 2024 drilling. All of the veins remain open for further delineation and extension.
VP Exploration Rob Macdonald commented, "Drilling on the northern extension of the No 3 Vein continues to build on the impressive results of the company's 2024 drilling program, developing continuity in the lateral and down-dip projections. These are the first assays returned from the 2025 program and drilling is ongoing. With 5,040 metres currently completed of the planned 6,000 metre program, the Company anticipates more positive news flow over the coming months."
Figure 1: Plan of Silver Queen project area
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Figure 2: No.3 North Longitudinal Section showing historical and 2024-25 drill intercepts. Historical Intercepts are semi-transparent. Drill holes with assays pending are shown in green
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2025 Drilling Summary
Drilling in 2025 continues to confirm the grade, tenor and lateral extension of mineralization beyond the northern end of the No. 3 Vein resource model. Fifteen core holes totalling 5,040 metres have been completed to date of a planned 6,000 metre program. Work in 2025 will continue to incorporate the new drill data into revised exploration and resource models, in anticipation of a Mineral Resource update to be prepared in late 2025 and to continue exploration on the ever-expanding Silver Queen vein system continuing into 2026.
The No. 3 Vein system contains the single largest resource currently identified on the Silver Queen property, and with its southern extension, the NG-3 Vein, accounts for 65% of the currently modelled mineral resource on a AgEq basis. Any extensions to the No. 3 Vein remain highly accretive to the current mineral resource. The updated NI43-101 Mineral Resource Estimate with effective date December 1st, 2022 is detailed in a News Release issued on Jan 16, 2023, which can be found by clicking here and the full Technical Report can be found on SEDAR and the Company's website.
Table 1: Select Composites from 2024 Drilling on the No. 3 North Target
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Notes: drill core 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. Downhole composites calculated using a 80g/t AgEq (1g/t AuEq) cut-off and Au 70%, Ag 80%, Cu 80%, Pb 81% and Zn 90%.
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 and the George Lake Vein, camp infrastructure, and a maintained Tailings Facility.
The Silver Queen Property consists of 46 mineral claims, 17 crown grants, and two surface crown grants totalling 18,871ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 sq km area. 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 member of the Malaspina-Manex Group. The Company owns 100% interest, with no underlying royalty, in the Silver Queen project, located along the Skeena Arch in the Omineca Mining Division, British Columbia. The property hosts high-grade, precious- and base-metal veins related to a buried porphyry system, which has been only partially delineated. The Company also has a controlling JV interest (57.49%) in the Monument Diamond project, NWT, strategically located in the Lac De Gras district within 40 km of both the Ekati and Diavik diamond mines. As well, the Company has an option to acquire a 100% interest in the Arlington Property, located within the Boundary District of south-central British Columbia where 2025 exploration work consisted of geophysics and diamond drilling designed to identify and delineate an apparent gold system. The Company is fully funded to undertake proposed 2025 exploration and development at Silver Queen and Arlington.
Robert Macdonald, MSc. P.Geo, is VP Exploration of Equity Metals Corporation and a Qualified Person as defined by National Instrument 43-101. He is responsible for the supervision of the exploration on the Silver Queen project and for the preparation of the technical information in this disclosure. He has approved the release of 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 corpdev@mnxltd.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Equity Metals Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261880
