Equity drills 3.9 g/t AuEq over 7.7 metres at Silver Queen, British Columbia

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Equity Metals Corp. [EQTY-TSXV; EQMEF-OTCQB] has drilled 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 100%-owned Silver Queen property, 43 km south of Houston, central British Columbia.

Drill highlights include a 0.6-metre interval grading 2.1 g/t gold, 1,705 g/t silver, 4.3% copper, 1.6% lead and 4.1% zinc (32.9 g/t AuEq (gold equivalent) or 2,470 g/t AgEq (silver equivalent) within a 1.2-metre interval averaging one g/t Au, 802 g/t Ag, 2.1% Cu, 0.8% Pb and 2% Zn (15.8 g/t AuEq or 1,183 g/t AgEq) from drill hole SQ22-072.

Drill hole SQ22-073 returned a 0.3-metre interval grading 0.1 g/t Au, 2,043 g/t Ag, 1% Pb and 0.6% Zn (28.1 g/t AuEq or 2,110 g/t AgEq) within a 7.7-metre interval averaging 274 g/t Ag, 0.1% Pb and 0.3% Zn (3.9 g/t AuEq or 294 g/t AgEq).

Drill hole SQ22-075 returned a 0.3-metre interval grading 1,496 g/t Ag, 0.1% Cu, 0.1% Pb and 0.6% Zn (20.4 g/t AuEq or 1,534 g/t AgEq) within a 3.8-metre interval averaging 219 g/t Ag and 0.1% Zn (3 g/t AuEq or 225 g/t AgEq).

These assay results are from the final four holes of the winter 2022 drill program on the Camp, Sveinson and NG-3 targets. Bonanza-grade mineralization was identified in all three holes (SQ22-073, SQ22-074 and SQ22-075) along the western margin of the Camp vein target, extending the lateral projection of several veins for an additional 40 metres with intercepts of up to 150 metres below surface. Several intercepts form composites of thicker mineralized intervals of up to 7.7 metres down hole. 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.

Rob Macdonald, vice-president of exploration, commented: “These results mark the completion of the winter 2022 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 six-square-kilometre target area, which will form the basis of additional drill testing in 2022.”

Following the completion of the winter drill program, an additional 1,500 metre core hole program on the Silver Queen property is now under way. 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 ongoing modelling. 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.”

Equity Metals is a Manex Resource Group company that provides exploration, administration and corporate development services for Equity Metals’ two major mineral properties: the Silver Queen gold-silver-zinc-copper project and the Monument diamond project, located in Lac De Gras, Northwest Territories. The company also has a 1% royalty (Greenwood royalty) and a 100% working interest in the La Ronge silica project.

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