Equity Extends the NG-3 Vein to over 300 Metres Strike-Length; Intersects 3.7m Averaging 4.9g/t Au, 75g/t Ag (6.3g/t AuEq) at Silver Queen Project, BC
Equity Extends the NG-3 Vein to over 300
Metres Strike-Length; Intersects 3.7m
Averaging 4.9g/t Au, 75g/t Ag (6.3g/t AuEq) at
Silver Queen Project, BC
Vancouver, British Columbia--(Newsfile Corp. - April 28, 2022) -
Equity Metals Corporation (TSXV:
EQTY) ("Equity")
reports several intersections of high-grade gold and silver from six holes which tested
the NG-3 target area on the Silver Queen property, BC. Equity's drilling has now 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 historic intercepts drilled by previous management
and earlier drilling by Equity, and mineralization remains open along strike and dip.
Drilling Highlights:
a
1.5 metre
interval grading
11.7g/t Au
,
167g/t Ag,
0.4% Cu,
0.1% Pb and 0.2% Zn
(14.5g/t
AuEq or 1,089g/t AgEq)
within
a
3.7 metre
interval averaging
4.9g/t Au,
75g/t Ag,
0.2% Cu,
0.1% Pb and 0.3% Zn
(6.3g/t AuEq or 472g/t AgEq)
from drill hole
SQ22-067;
and
a
0.3 metre
interval grading
14.2g/t Au
, 82g/t Ag,
0.2% Cu,
0.3% Pb and 0.2% Zn
(15.8g/t AuEq
or 1,185g/t AgEq)
within
a
1.2 metre
interval averaging
3.7g/t Au,
31g/t Ag, 0.1% Cu,
0.1% Pb
and 0.1% Zn
(4.3g/t AuEq or 322g/t AgEq)
from drill hole
SQ22-069.
The NG-3 vein is the eastern segment of a 2.5 km-long east-west trending composite structure which
includes the Camp Vein, Sveinson and parts of the No. 3 Vein targets (see Figure 1). Drilling on the
property by Equity Metals over the last 18 months of exploration has confirmed multiple mineralized veins
along the full strike-length of the host structural 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 89.3m averaging 0.1% Au, 2.1g/t Ag,
0.2% Cu and 0.04% Mo in drill hole SQ22-071 starting at 389.8 metres down hole. The mineralized
interval is characterized by increased quartz veining, strong sericite-alteration with elevated pyrite
content and correlates with the transition into the previously identified Itsit Porphyry system.
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 km-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 '22 program consisted of 13 core holes totaling 4,382 metres, including six holes (2,431m) at
the NG-3 target and seven holes (1,931m) on the Camp and Sveinson targets. Assay results are
pending and anticipated in the coming days for the remaining four holes, three which tested the west
side of the Camp target and a single hole which is a step-out from a high-grade intercepts in the
Sveinson target.
Figure 1: Plan Map of targets on the Silver Queen vein system, BC.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5566/121884_d1349c69c47e7a36_002full.jpg
Figure 2: Longitudinal Section of the NG-3 Target looking north.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5566/121884_d1349c69c47e7a36_003full.jpg
Table 1: Summary Composites from Drilling on the NG-3 Target
Hole #
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Pb
(%)
Zn
(%)
AuEq
(g/t)
AgEq
(g/t)
Comments
NG-3 Target
SQ22-066
216.9
217.4
0.5
3.4
99
0.4
0.2
0.9
5.7
431
SQ22-066
302.6
303.2
0.6
0.6
254
1.6
0.1
3.3
7.7
580
SQ22-066
345.5
347.0
1.5
2.6
0
0.0
0.0
0.0
2.6
196
SQ22-066
422.0
422.3
0.3
1.4
55
0.0
0.1
5.5
4.9
369
SQ22-067
233.3
234.3
1.0
0.2
102
0.6
0.8
2.7
4.1
304
30%
Dilution
inc.
233.3
233.6
0.3
0.4
210
1.4
2.0
4.1
7.9
593
SQ22-067
307.2
310.9
3.7
4.9
75
0.2
0.1
0.3
6.3
472
36.5%
Dilution
inc.
308.9
310.4
1.5
11.7
167
0.4
0.1
0.2
14.5
1089
SQ22-068
113.3
113.9
0.7
1.2
47
0.1
0.1
0.3
2.2
164
SQ22-068
265.5
265.8
0.3
3.6
125
0.2
0.1
0.1
5.5
412
SQ22-069
317.9
319.1
1.2
3.7
31
0.1
0.1
0.1
4.3
322
58%
Dilution
inc.
318.8
319.1
0.3
14.2
82
0.2
0.3
0.2
15.8
1185
SQ22-069
321.7
322.0
0.3
3.8
213
0.1
0.5
0.3
7.1
530
SQ22-070
434.8
435.1
0.4
0.5
40
0.0
0.1
2.1
2.2
161
SQ22-071
57.6
58.7
1.1
0.8
131
1.4
0.1
0.6
4.7
354
inc.
58.4
58.7
0.3
2.0
417
4.3
0.4
1.3
13.8
1036
SQ22-071
392.0
393.5
1.5
0.8
41
0.1
0.2
0.5
1.8
133
Hole #
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Mo
(%)
Re
(g/t)
CuEq
(%)
AuEq
(g/t)
Comments
NG-3 Target - Porphyry Intercepts
SQ22-071
389.8
479.00
89.3
0.1
2.1
0.2
0.04
0.4
0.6
0.8
0.25% CuEq
Cutoff
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 $1,500/oz Au, $20/oz Ag, $2.75/lb Cu, $1.00/lb Pb and $1.10/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 initial NI43-101 Mineral Resource Estimate was detailed in a News
Release issued on July 16th, 2019 and is hosted by the No. 3 Vein, which is traced by drilling for
approximately 1.2km and then to the southeast where it transitions into the NG-3 Vein close to the buried
Itsit copper-molybdenum porphyry.
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 Manex Resource Group Company. Manex provides exploration,
administration, and corporate development services for Equity Metals' two major mineral properties, the
Silver Queen Au-Ag-Zn-Cu project,
located in central B.C., and the
Monument Diamond project
,
located in Lac De Gras, NWT. The Company also has a 1% royalty (Greenwood Royalty) and a 100%
working interest in the
La Ronge Silica Project
.
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 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 project owners are Equity Metals Corporation (57.49%), Chris and Jeanne Jennings
(22.11%); and Archon Minerals Ltd. (20.4%). Equity Metals is the operator of the project.
The 100% controlled
La Ronge Silica Project
is an historic sand quarry located in central
Saskatchewan, approximately 60 kilometers south-southeast of La Ronge, Saskatchewan and 210
kilometers west of Flin Flon, Manitoba. Preliminary studies indicate the silica deposit may be developed
into a simple and profitable, low-cost mining and washing operation to produce high-purity silica (>98%
SiO2), a specialty product for the EV battery industry.
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
.
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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
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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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