Equity Metals

Equity Metals Corporation (TSXV:EQTY) is a precious metals company bringing modern exploration techniques to its flagship Silver Queen gold–silver property, which is 100-percent owned by the company and royalty-free. The company’s Silver Queen project is located within the well-mineralized Skeena Arch region of the Stikine Terrane, a major metallogenic belt running through British Columbia associated with gold-rich deposits that helped give rise to the Omineca Mining Division.

The Silver Queen property has seen more than 100 years of historic exploration and development since 1912, including intermittent mining and over 500 historic drill holes with more than 9,000 meters of underground workings. The property is located in the well-established Omineca Mining Division, which hosts significant mining infrastructure developed by previous operators. The property is located in the heart of the district and has nearby access to electricity, roads, railways, and skilled labor from the town of Houston.

The rich mineralization and existing infrastructure in the area have attracted a number of major mining companies to the Omineca Mining Division including Teck Resources Limited (TSX: TECK.A, NYSE: TECK), Imperial Metals (TSX:III), Centerra Gold (TSX:CG) and Newmont Goldcorp (TSX:NGT, NYSE:NEM). At nearly 19,000 hectares, Equity Metals’ Silver Queen project is one of the larger land packages in the region, hosting a 2019 NI 43-101 resource estimate in the Indicated category of 85,000 ounces of gold, 5.2 million ounces of silver, 5 million pounds of copper, 17 million pounds of lead and 114 million pounds of zinc, and a slightly lesser amount in the Inferred category.

Equity Metals has identified more than 20 epithermal gold veins on the Silver Queen property. Three of these veins are targeted for exploration drilling with the goal of doubling the current mineral resource. The first phase of 10 holes was recently completed, and initial assays should begin to be received early in October, with additional assays received over subsequent months due to lab delays resulting from Covid-19 restrictions. A second phase of drilling is now being planned and is expected to begin in Q4. The company has already secured a five year exploration permit that includes 50 drill sites and 6 kilometers of additional exploration trials. Silver Queen is expected to provide year-round road access and will be evaluated for the potential of an underground mine.

Equity Metals is also working to develop the Monument Diamond Project and the WO Project, although at a much slower pace to maintain focus on the Silver Queen asset. The Monument Project is located in the Lac de Gras district, which is 300 kilometers north of Yellowknife and has been developed by DHK Diamonds Inc. and Kennecott Canada Exploration Inc. Equity Metals acquired the property in 2004 and has since discovered eight diamond-bearing kimberlites. The WO Project is located near the Monument property and contains an Indicated National Instrument 43-101 resource of 19.5 Mt at a grade of 0.94 c/t for a total of 18.2 million carats of diamonds.

Dr. Alan Wainwright, an experienced geologist and an expert in porphyry and vein mineralization, officially joined Equity Metals as a consultant in April 2020. He is expected to aid in exploration designed to “better understand controls of mineralization via detailed alteration studies and additional mapping,” at Silver Queen. The company intends to leverage the findings from his studies to refine additional high-grade targets.

Equity Metals owns 100 percent interest in the Silver Queen project with no underlying royalties. The company’s board of directors and management team bring decades of mining exploration, discovery, and development experience to the table, including many significant North American projects. The company also benefits from significant support provided by the Manex Resource Group, where Vice President Robert W.J. Macdonald operates as the Vice President of Geological Services.

Equity Metals’ Company Highlights

• Flagship Silver Queen project is located in the Omineca Mining Division, surrounded by major mining companies including Teck Resources, Imperial Metals, and Newmont Goldcorp.
• Silver Queen hosts a 2019 NI 43-101 Indicated resource estimate of 85,000 ounces of gold, 5.2 million ounces of silver, 5 million pounds of copper, 17 million pounds of lead and 114 million pounds of zinc.
• Region surrounding Silver Queen hosts nearby infrastructure including electricity, roads, and railways and has hosted more than 100 years of historical mining.
• Directed by an experienced management team with an extensive track record of mining exploration, discovery, and development, including porphyry and vein mineralization experts such as Dr. Alan Wainwright.
• Owns 100 percent interest in the Silver Queen Project with no underlying royalties.
• WO Project contains an Indicated National Instrument 43-101 resource of 19.5 Mt at a grade of 0.94 c/t for a total of 18.2 million carats of diamonds.
• Monument Diamond project hosts 12 known kimberlites, with extraction samples in 2007 producing 955 diamonds from 2,201.7 kg of kimberlite.

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