drilling control systems

Equity Drills 0.3 Metres Grading 10,117g/t AgEq within a 3.7 Metre Interval Averaging 1,148g/t AgEq on the Camp Vein Target, Silver Queen Project, BC; Further Assays Pending and Drilling Continues

 

Equity Metals Corporation (TSXV: EQTY) ("Equity") reports today additional assays from the first three holes of Equity's September 2021 drill program that continue to return Bonanza-grade silver intercepts from the Camp Vein target, Silver Queen Project, BC.

 

New highlight intercepts include:

 
  • a 0.3 metre interval grading 10,085g/t Ag, 0.17g/t Cu, 0.1% Pb and 0.3% Zn (10,117g /t AgEq) within a 3.7 metre interval averaging 1,143g/t Ag, and 0.1% Zn (1,148g/t AgEq) from drill hole SQ21-034;  
  •  
  •  a 0.5 metre interval grading 2,247/t Ag, 0.1g/t Au, 0.1% Cu, 0.2% Pb and 0.6% Zn (2,295g/t AgEq) within a 3.5 metre interval averaging 739g/t Ag, 0.1% Pb, and 0.6% Zn (752g/t AgEq) from drill hole SQ21-032; and
  •  
  • a 1.0 metre interval grading 296/t Ag, 0.8g/t Au, 1.7% Pb and 2.9% Zn (521g/t AgEq) from drill hole SQ21-033.
  •  

These assay intervals significantly add to the rushed assay results from these three holes first reported in NR-10-21, dated October 7, 2021. The previously reported values include:

 
  • a 1.4 metre interval grading 1,218g/t AgEq from drill hole SQ21-032; 
  •  
  • a 2.1 metre interval averaging 537g/t AgEq from drill hole SQ21-033; and
  •  
  • a 0.4 metre interval grading 1,307g/t AgEq from drill hole SQ21-034. 
  •  

Full summary assay results are included below in Table 1. Assays from nine samples from drill hole SQ21-034 are pending, as is a concentrate analysis of the highlight 10,085g/t silver interval for verification purposes.

 

Drilling in this area has now successfully confirmed up-dip continuity in three of the four modelled veins identified on the northwestern margin of the Camp Vein target as well as potentially additional hangingwall and footwall veins. Mineralization is open and untested to the west and projects both eastward and down-dip into previously identified vein intercepts.

 

Eighteen new core holes and an extension of an earlier hole, totalling 4,636 metres, were completed on the Camp Vein Target as part of the September 2021 program. Full assays from 16 of these holes are pending with further assay results expected over the coming weeks and extending into the New Year.

 

The Company also reports that drilling resumed on the property in late October and is now testing a 1,000 metre-long, east-southeast trending segment of a target structure which forms the eastern projection of the Camp Vein Target and transitions into the No. 5, Switchback and No. 3 vein systems (See Figure 1). Seven core holes, totalling 2,718 metres, have been completed to date with step-outs of up to 850 metres laterally from previously completed drilling from the September program. Numerous vein intercepts have been identified in these holes. Logging and sampling of the core is proceeding with initial assay results anticipated in early 2022. Drilling on the property will continue into December.

 

VP Exploration Rob Macdonald commented, "Equity's management is very encouraged by both these early assay returns from recent drilling on the Camp Vein target and with the visual core results from current drilling on the No. 5 - Switchback segment. The Bonanza-grade intercepts continue to confirm the high-grade potential of the vein system, and new drilling has confirmed the lateral projection of the mineralized structures for up to 1,000 metres along strike, resulting in the identification of multiple new targets for continued exploration and potentially rapid resource expansion of the Silver Queen vein system. Assay results are now pending for 24 holes with new drilling on the No. 5 - Switchback targets continuing into December."

 

A total of 56 drill holes for 17,339 metres has now been completed by Equity Metals on the Silver Queen property in five successive phases of exploration drilling starting in late 2020. Five separate target areas have been tested and thick intervals of high-grade gold, silver and base-metal mineralization have been identified in each of the Camp Vein, No. 5, No. 3, and NG-3 Vein systems.

 

 

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/5566/104848_c819b05fb4eeca67_002full.jpg

 

Numerous veins occur throughout the property forming an extensive conjugate set of northwest and east-southeast-trending mineralized structures. The No. 3 vein is the largest known vein set and has been extensively drilled, accounting for the majority of the current 2019 NI43-101 mineral resources identified on the property. Other veins have received more limited, and typically shallow, historic drilling but have encountered encouraging intercepts of precious and base metals. Several will be tested in the ongoing 2021/2022 exploration program. Up to 15,000 metres of drilling are planned and permitted for the current program that began in September in order to test 2.5 kilometres through the Camp Vein, the No. 5 Vein, the Switchback Vein and NG-3 Vein systems, as well as several less defined veins. Drilling is planned to continue through the Fall and into early 2022.

 

Table 1: Summary Composites from September-21 Drilling on the Camp Vein Target.

 
                                                                                                                                                                                                                                                                                                                                                                                   
Hole #From
 (m)
To
 (m)
Interval (m)Au
 (g/t)
Ag
 (g/t)
Cu
 (%)
Pb
 (%)
Zn
 (%)
AuEq
 (g/t)
AgEq
 (g/t)
 Comments 
SQ21-03230.632.01.40.110970.20.52.216.21218Previously Released
SQ21-03248.652.13.50.07390.00.10.210.0752New Assays - 34% Dilution
inc.48.649.10.50.122470.10.20.630.62295
and inc.51.752.10.50.022340.00.10.229.92246
SQ21-032180.6183.42.80.3420.00.41.31.7129New Assays
inc.183.0183.40.40.8600.01.14.84.6345
SQ21-03335.437.21.80.02000.00.01.63.5261New Assays
SQ21-033114.5116.62.10.61380.02.37.37.2537Previously Released
inc.115.8116.60.81.13420.05.418.217.41302
SQ21-033175.8176.81.00.82960.01.72.96.9521New Assays
SQ21-033192.8194.41.70.5300.00.73.22.8212New Assays
SQ21-03429.030.81.80.14030.10.01.46.2468Previously Released
inc.30.430.80.40.310870.30.14.617.41307
SQ21-03447.050.73.70.011430.00.00.115.31148New Assays - 37% Dilution
inc.48.648.90.30.0100850.20.10.3134.910117CON ANALYSIS PENDING
ASSAYS PENDING
 


 

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

 

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

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. Most of the existing resource is hosted by the No. 3 Vein, which is traced by drilling for approximately 1.2km and to the southeast transitions into the NG-3 Vein close to the buried Itsit copper-molybdenum porphyry.

 

An initial NI43-101 Mineral Resource Estimate (see Note 1 below) was detailed in a News Release issued on July 16th, 2019, and using a CDN$100 NSR cut-off, reported a resource of:

 
  •  Indicated - 244,000ozs AuEq: 85,000ozs Au, 5.2Mozs Ag, 5Mlbs Cu, 17Mlbs Pb and 114Mlbs Zn; and
  •  
  •  Inferred - 193,000ozs AuEq: 64,000ozs Au, 4.7Mozs Ag, 5Mlbs Cu, 16Mlbs Pb and 92Mlbs Zn.
  •  

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.

 
  1. The 2019 Silver Queen Resource Estimate was prepared following CIM definitions for classification of Mineral Resources and identified at a CDN$100/NSR cut-off, an indicated resource of 815Kt averaging 3.2g/t Au, 201g/t Ag, 1.0% Pb, 6.4% Zn and 0.26% Cu and an inferred resource of 801Kt averaging 2.5g/t Au, 184g/t Ag, 0.9% Pb, 5.2% Zn and 0.31% Cu. Grade capping on Ag and Zn was performed on 0.75m to 1.24m length composites. Au, Cu and Pb required no capping. ID3 was utilized for grade interpolation for Au and Ag while ID2 was utilized for Cu, Pb and Zn. Grade blocks were interpreted within constraining mineralized domains using and array of 3m x 1m x 3m blocks in the model. A bulk density of 3.56 t/m³ was used for all tonnage calculations. Approximate US$ two-year trailing average metal prices as follows were used: Au $1,300/oz, Ag $17/oz, Cu $3/lb, Pb $1.05/lb and Zn $1.35/lb with an exchange rate of US$0.77=C$1.00.

The C$100/tonne NSR cut-off grade value for the underground Mineral Resource was derived from mining costs of C$70/t, with process costs of C$20/t and G&A of C$10/t. Process recoveries used were Au 79%, Ag 80%, Cu 81%, Pb 75% and Zn 94%. AuEq and AgEq are based on the formula: NSR (CDN) = (Cu% * $57.58) + (Pb% * $19.16) + (Zn% * $30.88) +(Au g/t * $39.40) + (Ag g/t * $0.44) - $78.76.

 

Mineral Resources are not Mineral Reserves, do not have demonstrated economic viability and may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. Inferred Mineral Resources have a lower level of confidence than Indicated Mineral Resources and may not be converted to a Mineral Reserve but may be upgraded to an Indicated Mineral Resource with continued exploration. The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines.

 

The Mineral Resource Estimate was prepared by Eugene Puritch, P.Eng., FEC, CET and Yungang Wu, P.Geo., of P&E Mining Consultants Inc. ("P&E") of Brampton, Ontario, Independent Qualified Persons ("QP"), as defined by National Instrument 43-101. P&E Mining suggests that an underground mining scenario is appropriate for the project at this stage and has recommended a CDN$100/tonne NSR cut-off value for the base-case resource estimate.

 

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/104848

 

 

News Provided by Newsfile via QuoteMedia

Equity Metals

Equity Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Equity Metals

Equity Metals

Keep reading...Show less

Advancing high-grade, district-scale silver and gold assets in British Columbia

Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Equity Metals

Equity Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×