Equity Metals Corp. [EQTY-TSXV; EQMEF-OTCQB; EGSD-FSE] reported new assays from its spring 2023 core drilling program on the 100%-owned Silver Queen Ag-Au (silver-gold) project located in central British Columbia. The new assays continue to extend mineralization on the west side of the Camp vein deposit and confirm blind, hanging wall mineralization north of the main vein set.
Drill highlights include a 0.8-metre (estimated true thickness (TT)) interval beginning at 463.5 metres grading 1,952 g/t silver, 0.1% Pb (lead) and 0.2% Zn (zinc) (24.1 g/t AuEq or 1,971 g/t AgEq) within a 1.7-metre interval averaging 926 g/t silver, 0.1% Pb and 0.7% Zn (11.8 g/t AuEq or 964 g/t AgEq) from drill hole SQ23-080; and a 0.5-metre (estimated TT) interval beginning at 463.1 metres grading 490 g/t silver, 1.2% Pb and 2.4% Zn (7.8 g/t AuEq or 641 g/t AgEq) from drill hole SQ23-079.
These intercepts were returned from one of the more southerly veins within the Camp/Sveinson vein system and represent a 270-metre down-dip and a 140-metre lateral step-out from previous drilling. The intercept in drill hole SQ23-080 is the deepest bonanza-grade silver intercept identified in the Camp/Sveinson vein system to date, and reflects the continued exploration potential both at depth and laterally to the west within the southerly vein set.
Shallow gold- and base metal-rich mineralization intersected beginning at 30.5 m depth in the upper part of drill hole SQ23-080 is similar to that reported earlier from hole SQ23-079, and confirms a shallow, blind target in the hanging wall, north of the main vein set.
Nine holes totalling 4,038 metres were completed in the spring 2023 drill program, testing the westward strike extensions of the Camp target and a drilling gap within the Sveinson target. Final assays have been received from only two of the nine holes and additional assays are anticipated over the coming weeks.
A short surface soil sampling program is under way on the property and drilling is set to resume mid-June to test the George and Cole Lake vein targets. The George and Cole Lake veins have been partially tested by historical drilling, which identified several hundred metres of strike length at each target that projects to between 200 metres and 400 metres depth, respectively. Neither target has yet been incorporated into the NI 43-101 mineral resource estimate of the property.
Rob Macdonald, vice-president of exploration, commented: “The identification of both shallow hanging wall mineralization to the north of earlier discoveries and the deeper bonanza-grade intercepts in the south vein suggest a significantly wider and more extensive target zone than that identified by initial drilling on the Camp vein target. Mineralization remains open both laterally and to depth, and will be tested in upcoming drill programs. New drilling will start in the coming days as the company continues the work of systematic resource expansion on the property.”
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 (joint venture) (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 18,852 hectares, with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 km2 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 underexplored.
Equity Metals is a Malaspina-Manex Group company. The company owns a 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 joint venture interest (57.49%) in the Monument diamond project, Northwest Territories, strategically located in the Lac De Gras district within 40 km of both the Ekati and Diavik diamond mines. The company also has royalty and working interests in other Canadian properties, which are being evaluated further to determine their value to the company.