- Equity Metals Corporation (EQTY) has reported high-grade gold and silver results from its Phase 3 2021 drilling program at its Silver Queen Project
- Drill holes SQ21-022 and -023 tested both down-dip and lateral step-outs of the number 3 vein block mode
- Meanwhile drill hole SQ21-022 testing the southeastern edge of the block-model mineralization, roughly 30 metres from the nearest historic drill intercept
- Drill hole SQ21-023 tested an additional 50 metres down dip of SQ21-22
- Narrow, high-grade intercepts were returned in drill holes SQ21-019 and 021.
- Shares of Equity Metals were up 2.70 per cent to C$0.19 as of 12:59 p.m. EDT
Equity Metals Corporation (EQTY) has reported high-grade gold and silver results from its Phase 3 drilling program at its Silver Queen Project.
The assay results represent mineralized intercepts from the first main holes drilled as part of the company’s Phase 3 drilling program at the property. In total, 13 holes were done for a total of just over 4,991 metres.
Some of the assays results include a 2.5 metre interval averaging 15.6 grams per tonne (g/t) gold, 0.4 per cent copper, 3 per cent lead and 15.7 per cent zinc within a 5.9 metre interval.
This averaged 8.7 g/t gold and 339 g/t silver, 0.7 per cent copper, 1.8 per cent lead and 7.4 per cent zinc from drill hole SQ21-022.
Drill hole SQ21-023 returned results including a 2.3 metre interval averaging 6.1 g/t gold, 442 g/t silver, 0.3 per cent copper, 1 per cent lead and 4.1 per cent zinc.
Results are still pending from eight drill holes.
“Initial returns from Phase III drilling are very encouraging with some exceptional grades of both gold and silver in step-out drilling from the No. 3 Vein, and with more assays to follow,” Rob Macdonald, vice president of exploration at Equity Metals, said in a release.
“Data compilation and targeting are ongoing, utilizing our advancing understanding of the controls on mineralization at Silver Queen to identify shallow, under-explored drill targets, such as the ESE-trending Camp – No. 5 – Switchback Vein corridor. Some of these exciting additional targets will be tested in a 2021 Phase IV exploration drilling program, which will be announced in the coming weeks.”
Since late August of last year a total of 31 drill holes for 9,983 metres have now been done at the property in three phases of exploration.
Four different target areas have been tested and identified thick intervals of high-grade gold and silver and base metal mineralization in Camp Vein, No. 5 Vein and No. 3 Vein.
Shares of Equity Metals were up 2.70 per cent to C$0.19 as of 12:59 p.m. EDT.