Equity Reports Additional High-Grade Mineralization at the Camp and Sveinson Targets, Silver Queen Project, BC; Drilling Resumes
Equity Reports Additional High-Grade
Mineralization at the Camp and Sveinson
Targets, Silver Queen Project, BC; Drilling
Resumes
Vancouver, British Columbia--(Newsfile Corp. - May 18, 2022) -
Equity Metals Corporation (TSXV:
EQTY) ("Equity")
reports thick intercepts of mineralization in both lateral step-outs to the Camp Vein
and at depth in the Sveinson Target from recent drilling on the Silver Queen property, BC.
Drill highlights Include:
a
0.6 metre
interval grading
2.1g/t Au
,
1,705g/t Ag, 4.3% Cu, 1.6% Pb
and
4.1% Zn (32.9g/t
AuEq or 2,470g/t AgEq)
within
a
1.2 metre
interval averaging
1.0g/t Au, 802g/t Ag
,
2.1% Cu
,
0.8% Pb and
2.0% Zn (15.8g/t AuEq or 1,183g/t AgEq)
from drillhole
SQ22-072;
a
0.3 metre
interval grading 0.1g/t Au,
2,043g/t Ag
, 1.0% Pb and 0.6% Zn
(28.1g/t AuEq or
2,110g/t AgEq)
within
a
7.7 metre
interval averaging
274g/t Ag,
0.1% Pb and 0.3% Zn
(3.9g/t
AuEq or 294g/t AgEq)
from drillhole
SQ22-073;
and
a
0.3 metre
interval grading
1,496g/t Ag
, 0.1% Cu, 0.1% Pb and 0.6% Zn
(20.4g/t AuEq or
1,534g/t AgEq)
within
a
3.8 metre
interval averaging
219g/t Ag,
and 0.1% Zn
(3.0g/t AuEq or
225g/t AgEq)
from drillhole
SQ22-075.
These assay results are from the final four holes of the Winter '22 drill program on the Camp, Sveinson
and NG-3 targets. Bonanza-grade mineralization was identified in all three of these holes (SQ22-073, -
074 and -075) along the western margin of the Camp Vein target, extending the lateral projection of
several veins for an additional 40 metres with intercepts up to 150 metres below surface. Several
intercepts form composites of thicker mineralized intervals up to 7.7 metres downhole. Mineralization in
the Camp Vein target remains open to the west and at depth, which will be further tested in 2022.
A fourth hole (SQ22-072) tested an approximate 200 metre width of the Sveinson target, intersecting
three main clusters of mineralized veins to depths of up to 335 metres below surface. These represent
significant step-outs from previously drilled intercepts in the western portion of the Sveinson target.
Intercepts are generally more gold-enriched than intercepts in the Camp Vein and return higher base
metal contents.
VP Exploration Rob Macdonald commented,
"These results mark the completion of the Winter '22 drill
program on the Silver Queen project, which successfully confirmed a 300 metre projection of the NG-
3 vein to depths of up to 390 metres below surface; identified the western and currently open-ended
projection of the Camp Vein target; and confirmed the continuity of several gold-silver-mineralized
structures in the transition eastward from the Camp Vein into the Sveinson target. Compilation of this
and earlier data continues toward the preparation of a mineral resource update in the coming months.
Numerous veins remain open for testing across the 6 sq. km. target area, which will form the basis of
additional drill testing in 2022."
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/5566/124413_8cd1bcf774ae4b11_002full.jpg
Figure 2: Plan View Camp-Sveinson Targets showing AgEq values in composites. Note the
multiple veins structures identified through the Camp and Sveinson targets.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5566/124413_8cd1bcf774ae4b11_003full.jpg
New Drilling on Silver Queen
The Company also reported that following the completion of the winter drill program, an additional
1,500m core hole program on the Silver Queen property is now underway. Drilling will continue to test the
western extension of the Camp Vein target and the western margin of the Sveinson Target structure, and
drilling should be completed over the coming weeks.
President Joe Kizis explained,
"This limited drilling program is specifically testing three possible vein
projections that are based on our on-going modeling. These are projections of veins beyond the limits
of drilling that will be included in our independent resource and success in these holes should provide
us with the guidance to further expand the resource base at Silver Queen during our planned Fall
2022 drilling."
Table 1: Summary Composites from Winter '22 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)
Comments
SQ22-072
82.5
83.2
0.7
4.5
232
0.5
0.1
0.2
8.4
633
SQ22-072
160.7
162.5
1.8
0.7
47
0.8
0.1
0.5
2.7
200
43% dilution
inc.
160.7
161.5
0.8
1.5
68
1.3
0.1
0.8
4.5
339
SQ22-072
215.7
216.6
0.9
1.5
31
0.0
1.3
5.6
5.3
400
SQ22-072
348.2
350.2
2.0
0.7
19
0.1
0.2
2.0
2.1
161
60% dilution
inc.
348.2
348.7
0.5
1.7
40
0.0
0.7
6.7
5.9
445
SQ22-072
377.7
378.8
1.1
0.8
199
0.5
3.6
3.1
7.3
544
inc.
377.7
378.1
0.4
1.3
427
1.0
7.1
3.2
13.2
989
SQ22-072
385.4
386.4
1.0
0.3
72
0.0
1.4
6.7
5.4
402
SQ22-072
396.0
397.2
1.2
1.0
802
2.1
0.8
2.0
15.8
1183
inc.
396.3
396.8
0.6
2.1
1705
4.3
1.6
4.1
32.9
2470
SQ22-073
71.2
72.6
1.4
0.2
228
0.0
0.1
0.8
3.7
277
inc.
71.5
71.8
0.3
0.3
396
0.1
0.1
2.2
6.9
516
SQ22-073
91.1
92.9
1.8
0.0
139
0.0
0.0
0.1
1.9
143
37% Dilution
inc.
92.7
92.9
0.3
0.0
717
0.0
0.0
0.1
9.7
726
SQ22-073
138.1
139.9
1.8
0.1
173
0.0
0.1
0.4
2.7
201
inc.
138.1
138.4
0.3
0.6
301
0.0
0.2
0.6
5.0
374
SQ22-073
161.7
169.4
7.7
0.0
274
0.0
0.1
0.3
3.9
294
inc.
169.1
169.4
0.3
0.1
2043
0.0
1.0
0.6
28.1
2110
SQ22-074
44.3
44.8
0.5
1.2
1470
0.1
0.2
0.8
21.3
1600
SQ22-074
78.2
78.9
0.7
0.0
184
0.0
0.0
0.0
2.5
187
SQ22-074
206.3
206.5
0.3
0.7
54
0.0
0.8
4.3
3.9
295
SQ22-075
36.9
37.2
0.3
0.0
679
0.1
0.0
0.1
9.3
698
SQ22-075
81.4
85.2
3.8
0.0
219
0.0
0.0
0.1
3.0
225
inc.
84.4
84.6
0.3
0.0
1496
0.1
0.1
0.6
20.4
1534
SQ22-075
158.8
159.4
0.7
0.2
169
0.0
3.4
6.8
7.4
556
inc.
159.2
159.4
0.3
0.4
390
0.1
7.0
16.1
17.0
1275
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
.
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
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