Equity Extends New Mineralization; Including 7.7 metres (est TT) of 0.9g/t Au, 57g/t Ag, 1.4% Pb and 6.5% Zn (11.2g/t AuEq or 445g/t AgEq) at the Sveinson Deposit, Silver Queen Project, BC
- The drilling program extended new mineralization in the Sveinson Deposit and the Camp Deposit.
- Assay results from the George Lake target are pending.
- Drilling is currently suspended due to wildfire risk.
- None.
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2023) - Equity Metals Corporation (TSXV: EQTY) (FSE: EGSD) (OTCQB: EQMEF) ("Equity") reports final assays from its Spring 2023 core drilling program on the Company's
Sveinson Deposit: Drilling returned multiple gold and base-metal-enriched intercepts including:
- a 1.5 metre (est. TT) interval grading 1.5g/t Au, 89g/t Ag,
1.5% Pb and16.2% Zn (11.2g/t AuEq or 914g/t AgEq) within a 7.7 metre interval averaging 0.9g/t Au, 57g/t Ag,1.4% Pb and6.5% Zn (5.4g/t AuEq or 445g/t AgEq) from drillhole SQ23-086; and
- a 2.2 metre (est. TT) interval grading 0.9g/t Au, 27g/t Ag,
1.2% Pb and2.9% Zn (3.1g/t AuEq or 252g/t AgEq) from drillhole SQ23-084.
These results are from two of four holes that tested a 200-metre drilling gap in the Sveinson deposit (see Figure 2 and Table 1). Each of the four holes contain multiple intercepts, which help to build continuity to depths of up to 350 metres below surface in several veins initially identified in 2022 drilling.
Camp Deposit: Drill highlights include:
- a 0.7 metre (est. TT) interval grading 742g/t Ag,
0.7% Pb and0.6% Zn (9.7g/t AuEq or 790g/t AgEq) from drill hole SQ23-082.
This interval is one of two higher-grade silver intercepts from drill hole SQ23-082 that extend mineralization in the Camp Deposit an additional 100 metres laterally to the west, beyond which it remains open for further drill testing. Mineralization was also identified near the top of hole SQ23-081 and is similar in tenor to previously reported intercepts in drill holes SQ23-079 and -080, confirming a blind shallow target north of the main vein set under alluvium.
George Lake Target
The Company also reported that it has now completed 2,324 metres of new core drilling in 7 holes on the George Lake target as part of its 2023 Summer drill program. Drilling has confirmed visual mineralization around historical intercepts adjacent to the Bulkley Crosscut (historic underground workings) and extends the lateral projection of mineralization approximately 400 metres to the southeast and up to 250 metres below surface. Mineralization remains open along strike and at depth. Assay results from this drilling and over 1,400 soil samples, which were collected on the property in June, are pending and are anticipated in the coming weeks.
Drilling is currently suspended due to wildfire risk in the area but will resume on the Cole Lake target once conditions allow.
VP Exploration Rob Macdonald commented, "Work on the Silver Queen project through 2023 continues the systematic delineation of new mineralization throughout the property through a combination of extending currently known veins as well as drill testing new targets developed through compilation of historical data and recent surface work on the property. The property already contains a significant existing mineral resource base that was updated in 2022, doubling the earlier 2019 resource, which we believe will increase with the further development and exploration of these new targets. Today's news appears to support our view."
Figure 1: Plan Map of targets on the Silver Queen vein system, BC
To view an enhanced version of this graphic, please visit:
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Figure 2: Plan of the Camp/Sveinson targets showing Spring '23 drilling and mineralized solids used to define the deposits
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Table 1: Summary Composites from Spring '23 Drilling on the Camp-Sveinson Targets
Hole # | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) | AgEq (g/t) | |
ETT(m) | |||||||||||
Camp Target - New Assays | |||||||||||
SQ23-081 | 35.5 | 39.4 | 3.9 | 2.5 | 0.4 | 23 | 0.02 | 0.8 | 2.2 | 2.1 | 172 |
inc. | 39.0 | 39.4 | 0.4 | 0.3 | 1.7 | 87 | 0.10 | 4.5 | 11.1 | 10.0 | 822 |
SQ23-082 | 300.7 | 301.3 | 0.7 | 0.5 | 0.0 | 525 | 0.01 | 0.4 | 0.7 | 6.9 | 566 |
SQ23-082 | 316.5 | 317.5 | 0.9 | 0.7 | 0.0 | 742 | 0.03 | 0.7 | 0.6 | 9.7 | 790 |
SQ23-082 | 347.6 | 349.9 | 2.3 | 1.6 | 0.0 | 139 | 0.02 | 0.1 | 0.4 | 2.0 | 161 |
SQ23-083 | 130.0 | 131.7 | 1.7 | 1.3 | 0.2 | 12 | 0.00 | 0.3 | 2.7 | 1.8 | 145 |
SQ23-083 | 139.5 | 140.0 | 0.6 | 0.4 | 1.4 | 50 | 0.01 | 0.8 | 2.1 | 3.3 | 270 |
Sveinson Target - New Assays | |||||||||||
SQ23-084 | 135.4 | 136.2 | 0.8 | 0.6 | 1.9 | 85 | 0.67 | 2.7 | 9.3 | 9.4 | 768 |
SQ23-084 | 169.6 | 172.4 | 2.8 | 2.2 | 0.9 | 27 | 0.02 | 1.2 | 2.9 | 3.1 | 252 |
inc. | 170.6 | 171.9 | 1.3 | 1.0 | 1.4 | 43 | 0.04 | 2.0 | 4.8 | 5.1 | 420 |
SQ23-085 | 149.3 | 149.5 | 0.3 | 0.2 | 1.8 | 59 | 0.10 | 3.7 | 5.0 | 6.4 | 528 |
SQ23-085 | 343.0 | 343.4 | 0.5 | 0.3 | 1.2 | 30 | 0.02 | 1.0 | 6.2 | 5.0 | 409 |
SQ23-085 | 434.5 | 437.0 | 2.5 | 1.5 | 0.5 | 29 | 0.06 | 0.7 | 2.2 | 2.2 | 183 |
SQ23-086 | 13.3 | 13.6 | 0.3 | 0.2 | 0.3 | 192 | 2.68 | 0.2 | 0.5 | 6.5 | 533 |
SQ23-086 | 236.1 | 246.5 | 10.4 | 7.7 | 0.9 | 57 | 0.09 | 1.4 | 6.5 | 5.4 | 445 |
inc. | 236.8 | 241.7 | 4.9 | 3.6 | 0.9 | 64 | 0.03 | 1.4 | 9.8 | 7.1 | 581 |
inc. | 236.8 | 238.8 | 2.0 | 1.5 | 1.5 | 89 | 0.04 | 1.5 | 16.2 | 11.2 | 914 |
SQ23-086 | 261.4 | 262.6 | 1.3 | 0.9 | 0.2 | 112 | 0.98 | 0.2 | 0.7 | 3.3 | 267 |
SQ23-086 | 435.3 | 436.3 | 1.1 | 0.8 | 0.4 | 128 | 2.42 | 0.3 | 0.7 | 5.6 | 462 |
SQ23-086 | 515.7 | 516.5 | 0.8 | 0.6 | 0.9 | 35 | 0.23 | 0.3 | 1.8 | 2.6 | 212 |
SQ23-087 | 183.4 | 184.0 | 0.6 | 0.4 | 0.8 | 24 | 0.08 | 1.0 | 3.9 | 3.5 | 287 |
SQ23-087 | 282.3 | 286.1 | 3.8 | 2.3 | 0.3 | 14 | 0.02 | 0.7 | 0.9 | 1.3 | 103 |
inc. | 285.0 | 286.1 | 1.1 | 0.7 | 0.3 | 24 | 0.03 | 1.5 | 1.8 | 2.0 | 167 |
SQ23-087 | 306.8 | 307.1 | 0.4 | 0.2 | 0.0 | 62 | 0.02 | 0.0 | 10.2 | 5.8 | 476 |
Samples were analyzed by FA/AAS for gold and 48 element ICP-MS by MS Analytical, Langley, BC. Silver (>100ppm), copper, lead and zinc (>
Pb and
About Silver Queen Project
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 (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 18,852ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 sq km area. An updated NI43-101 Mineral Resource Estimate with effective date December 1st, 2022 was detailed in a News Release issued on Jan 16, 2023, which can be found by clicking here and the full Technical Report can be found on SEDAR and the Company's website.
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.
About Equity Metals Corporation
Equity Metals Corporation is a member of the Malaspina-Manex Group. The Company owns
Robert Macdonald, MSc. P.Geo, is VP Exploration of Equity Metals Corporation and a Qualified Person as defined by National Instrument 43-101. He is responsible for the supervision of the exploration on the Silver Queen project and for the preparation of the technical information in this disclosure.
On behalf of the Board of Directors
"Joseph Anthony Kizis, Jr."
Joseph Anthony Kizis, Jr., P.Geo
President, Director, Equity Metals Corporation
For further information, visit the website at https://www.equitymetalscorporation.com; or contact us at 604.641.2759 or by email at ir@mnxltd.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Equity Metals Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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