Equity Metals Corp. [EQTY-TSXV; EQMEF-OTCQB; EGSD-FSE] reported results of several intersections of high-grade gold and silver from six holes that tested the NG-3 target area on the 100%-owned Silver Queen property 43 km south of Houston, central British Columbia.
Equity’s drilling has confirmed the extension of the NG-3 vein to over 300 metres of strike and to depths of up to 240 metres below surface. The holes have established internal continuity between historical intercepts drilled by previous management and earlier drilling by Equity, and mineralization remains open along strike and dip.
Drilling highlights include a 1.5-metre interval grading 11.7 g/t gold, 167 g/t silver, 0.4% copper, 0.1% lead and 0.2% zinc (14.5 g/t AuEq (gold equivalent) or 1,089 g/t AgEq (silver equivalent) within a 3.7-metre interval averaging 4.9 g/t gold, 75 g/t silver, 0.2% copper, 0.1% lead and 0.3% zinc (6.3 g/t AuEq or 472 g/t AgEq) from drill hole SQ22-067.
Drill hole SQ22-069returned a 0.3-metre interval grading 14.2 g/t gold, 82 g/t silver, 0.2% copper, 0.3% lead and 0.2% zinc (15.8 g/t AuEq or 1,185 g/t AgEq) within a 1.2-metre interval averaging 3.7 g/t gold, 31 g/t silver, 0.1% copper, 0.1% lead and 0.1% zinc (4.3 g/t AuEq or 322 g/t AgEq).
The NG-3 vein is the eastern segment of a 2.5-km-long, east-west-trending composite structure that includes the Camp vein, Sveinson and parts of the No. 3 vein targets. Drilling on the property by Equity Metals over the past 18 months of exploration has confirmed multiple mineralized veins along the full strike length of the host structure and tested some portions to depths of up to 400 metres below surface. Numerous targets within the structure zone remain to be extended laterally and to depth, which will form the basis of future exploration drilling on the property in 2022.
Drilling on the eastern end of the NG-3 target also intersected 89.3 metres averaging 0.1 g/t gold, 2.1 g/t silver, 0.2% copper and 0.04% molybdenum in drill hole SQ22-071 starting at 389.8 metres down hole.
Vice-president of exploration Rob Macdonald commented: “Drilling continues to return high-grade gold and silver values at multiple target areas along the main 2.5-kilometre-long mineralized corridor targeted by Equity over the previous 18 months of drilling on the Silver Queen property. The confirmation of Cu-Mo porphyry-styled mineralization at the Itsit target further highlights the presence of a large and widespread epithermal/porphyry mineralizing system. Multiple vein targets remain untested throughout the property, and numerous veins require follow-up drilling to extend mineralization both laterally and to depth as Equity continues its systematic evaluation of this district-scale property.”
The winter 2022 program consisted of 13 core holes totalling 4,382 metres, including six holes (2,431 m) at the NG-3 target and seven holes (1,931 m) at the Camp and Sveinson targets. Assay results are pending and anticipated in the coming days for the remaining four holes, three of which tested the west side of the Camp target and a single hole that is a stepout from a high-grade intercept in the Sveinson target.
Equity Metals is a Manex Resource Group company. Manex provides exploration, administration and corporate development services for Equity Metals’ two major mineral properties: the Silver Queen project and the 57.49%-owned Monument diamond project located in Lac De Gras, Northwest Territories.