Equity Metals extends No. 3 Vein on Silver Queen Property, British Columbia

Equity Metals Corp. [TSXV: EQTY] reported final 2024 assay results from the No.3 North target on its 100%-owned Silver Queen Au-Ag project, British Columbia.

Sixteen core holes totaling 5,952 metres were completed on the No. 3 North Target from two setups as part of the Fall 2024 drill program, which had the goal of extending No. 3 mineralization along strike.

Assay highlights from these final eight holes on this target include: A 2.7-metre (Est. TT) interval grading 0.3 g/t Au, 174 g/t Ag, 1.2% Cu, 0.2% Pb and 3.8% Zn (507 g/t AgEq or 7.1 g/t AuEq), including a 0.6-metre (est. TT) interval averaging 0.5 g/t Au, 362 g/t Ag, 3.0% Cu, 0.4% Pb and 7.7% Zn (1,089 g/t AgEq or 15.2 g/t AuEq) from SQ24-141. A 3.6-metre (Est. TT) interval grading 0.4 g/t Au, 68 g/t Ag, 0.1% Cu, 1.1% Pb and 5.3% Zn (386 g/t AgEq or 5.4 g/t AuEq), including a 1.6-metre (est. TT) interval averaging 0.7 g/t Au, 119 g/t Ag, 0.1% Cu, 2.0% Pb and 10.3% Zn (713 g/t AgEq or 10.0 g/t AuEq) from SQ24-140; and

A 0.7-metre (Est. TT) interval grading 6.4 g/t Au, 720 g/t Ag, 2.3% Cu. 0.5% Pb and 3.6% Zn (1,609 g/t AgEq or 22.5 g/t AuEq) from SQ24-142.

These results continue to confirm both grade and tenor of mineralization beyond the northern end of the No. 3 Vein resource model, extending the projections of the No. 3 and No. 2 veins along an additional 400 metres northwest of the previously modelled mineralization. The No. 2 vein is intersected in multiple drill holes and occurs in the footwall of the No. 3 Vein at a slightly oblique orientation. The No. 3 vein was tested to over 250 metres below surface while the No. 2 Vein was tested to over 400 metres below surface. Both structures remain open laterally and to depth and will be further tested as part of the 2025 drilling program.

VP Exploration Rob Macdonald, commented, “The Fall 2024 drill program on the Silver Queen Property has successfully extended mineralization on the No. 3 Vein set, which still remains open along strike and at depth for further testing in 2025. This is a new target area for the Company, and with continued success, will be accretive to the existing mineral resources identified in the four known deposits currently delineated on the property. Mineralization remains open both laterally and at depth and is immediately adjacent to, and down dip from, existing historic underground workings, which would likely reduce development costs in an underground mining scenario.”

Joe Kizis, President, added, “We are pleased with the results of our 2024 program which outlined mineralization that will expand the Silver Queen resource. No. 3 North was identified as an area that has geologic similarities to the strongest part of the No. 3 resource farther south, where higher grades and vein thicknesses occur. Exploration plans for 2025 are fully funded, and we will continue the process of resource expansion both laterally and down dip of the modelled mineral resources as well as test new geologically attractive areas, such as where a blind vein was discovered in one hole at the North Camp target during 2024.”

Forty-two core holes totalling 17,209 metres were completed as part of Equity’s 2024 exploration program. Drilling resulted in the delineation of a 550-metre strike-length for mineralization in the George Lake target and a 400-metre strike-length for mineralization in the No. 3 North target, as well as several extensions of earlier identified veins in the Camp Deposit and a new discovery in the Camp North target.

Work in 2025 will continue to incorporate the 2024 drill data into revised exploration and resource models toward a Mineral Resource update to be prepared in 2025, as well as continued, further exploration drilling on the property-wide and ever-expanding Silver Queen vein systems.

The No. 3 Vein is the single largest deposit currently identified on the Silver Queen property and with its southern extension, the NG-3 Vein, account for 65% of the currently modelled mineral resources on a AgEq basis. Any extensions to the No. 3 Vein will be highly accretive to the current mineral resource. The updated NI43-101 Mineral Resource Estimate with effective date December 1, 2022 is detailed in a News Release issued on January 16, 2023.

The Silver Queen Property consists of 46 mineral claims, 17 crown grants, and two surface crown grants totalling 18,871ha 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 under-explored.

Equity Metals is a member of the Malaspina-Manex Group. The company owns 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.