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
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
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 100% owned Silver Queen Ag-Au project, located in central British
Columbia. The new assays extend new mineralization in several areas: the west side of the Camp
Deposit; a blind, hangingwall vein north of the main Camp veins; and a previously undrilled portion of the
Sveinson Deposit.
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
and
16.2% 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
and
6.5% 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
and
2.9% 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 and 0.6% 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:
https://images.newsfilecorp.com/files/5566/176538_f08d291794b019d0_002full.jpg
Figure 2: Plan of the Camp/Sveinson targets showing Spring '23 drilling and mineralized solids
used to define the deposits
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5566/176538_f08d291794b019d0_003full.jpg
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 (>1%)
overlimits assayed by ore grade ICP-ES analysis, High silver overlimits (>1000g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav.
Silver >10,000g/t re-assayed by concentrate analysis, where a FA-Grav analysis is performed in triplicate and a weighed average reported.
Composites calculated using a 80g/t AgEq (1g/t AuEq) cut-off and <20% internal dilution, except where noted. Reported intervals are core lengths,
true widths undetermined or estimated. Accuracy of results is tested through the systematic inclusion of QA/QC standards, blanks and duplicates
into the sample stream. AuEq and AgEq were calculated using prices of $1,800/oz Au, $22/oz Ag, $3.50/lb Cu, $0.95/lb Pb and $1.30/lb Zn. AuEq
and AgEq calculations did not account for relative metallurgical recoveries of the metals.
Pb and $1.30/lb Zn. AuEq and AgEq calculations did not account for relative metallurgical recoveries of the metals.
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 1
st
, 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 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 JV interest (57.49%) in the
Monument Diamond project
,
NWT
, 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.
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
.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/176538