Equity extends high-grade silver at Silver Queen, British Columbia

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Equity Metals Corp. [EQTY-TSXV; EQMEF-OTCQB] has reported high-grade silver drill intercepts from a 125-metre-long central segment of the Camp vein target on the 100%-owned Silver Queen project, British Columbia.

The intercepts are located to the east of previously reported high-grade silver results in drill holes SQ21-032 to -036, confirming continuity of mineralization down dip and along strike in four of the modeled vein zones. Mineralization is also open and untested to the west and projects eastward into previously identified vein intercepts and farther east into the Sveinson Vein target.

New highlight intercepts include drill hole SQ21-049 that returned a 0.3-metre interval grading 3,235 g/t silver, 0.6% lead and 2.3% zinc (3,349 g/t AgEq) within a 1.3-metre interval averaging 853 g/t silver, 0.2% lead and 0.8% zinc (900 g/t AgEq).

Drill hole SQ21-040 returned 0.9 metres grading 1,391 g/t silver, 0.15 g/t copper, 0.1% lead and 0.6% zinc (1,440 g/t AgEq) within 4.5 metres averaging 581 g/t silver, 0.5% lead and 1.5% zinc (663 g/t AgEq). Drill hole SQ21-041 returned 2.7 metres averaging 118 g/t silver, 0.4% lead and 2.9% zinc (268 g/t AgEq).

Intercepts in drill hole SQ21-049 have established continuity in three of the modelled veins down-dip and adjacent to drill holes SQ21-033 (previously reported 2.1 metres averaging 537 g/t AgEq) and SQ21-034 (previously reported 3.7 metres averaging 1,148 /t AgEq), while drill hole SQ21-040 is a deeper step-out, approximately 50 metres to the east of SQ21-049, and helps define continuity of several veins to up to 165 metres below surface.

A total of 63 drill holes for 19,645 metres in five successive phases of exploration drilling starting in late 2020 has now been completed by Equity Metals on the Silver Queen property. 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, Sveinson Extension, No. 3, and NG-3 Vein systems. Drilling will resume mid-January, focusing initially on the NG-3 target. Detailed drilling, including the intercepts reported here, will be utilized in developing a maiden resource on the Camp Vein target, expected in Q2 2022.

An initial NI 43-101 Mineral Resource Estimate was detailed July 16, 2019, and using a CDN$100 NSR cut-off, reported an Indicated Resource of 244,000 oz AuEq; 85,000 oz gold, 5.2M oz silver, 5M lbs copper, 17M lbs lead and 114M lbs zinc. Inferred Resources are 193,000 oz AuEq; 64,000 oz gold, 4.7M oz silver, 5M lbs copper, 16M lbs lead and 92M lbs zinc.

More than 20 different veins have been identified on the property, forming an extensive network of zoned Cretaceous- to Tertiary-age epithermal veins.


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