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Equity Metals Receives Five-year Exploration Permit and Prepares to Drill the Silver Queen Au-Ag Project, British Columbia
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2020) - Equity Metals Corporation (T...
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[{"type":"text","content":"Equity Metals Receives Five-year Exploration Permit and Prepares to Drill the Silver Queen Au-Ag Project, British ColumbiaVancouver, British Columbia--(Newsfile Corp. - June 1, 2020) - Equity Metals Corporation (TSXV: EQTY) (the \"Company\" or \"Equity Metals\") reported today receipt of a five-year, area-based exploration permit for its 100% owned Silver Queen Au-Ag Project, located near Houston in the well-mineralized Skeena Arch region of British Columbia. Initial drilling on the property will focus on the systematic resource expansion on an historic high-grade precious-metal-enriched epithermal vein system as well as the identification of new mineral discoveries to further increase existing mineral resources noted below. Three separate vein structures are targeted for exploration drilling in 2020, with the near- to mid-term objective of doubling the existing mineral resource on the property.The permit allows for drilling exploration from 50 drill sites throughout the property and the construction of up to 6 kilometres of additional exploration trails. All sites will be accessed from a year-round camp located on the Company's fee-simple land at the Silver Queen mine site, which is located only 40km south of Houston, British Columbia via the all-season Morice-Owen forest service road.An initial exploration program of consisting of: i) drilling up to 3000 metres in up to 20 core holes to target the No. 3 Vein and Camp Vein; ii) verification of select historical drill intercepts; iii) completion of sampling through the entirety of the alteration halos surrounding the high-grade veins in order to evaluate potential mineralization in the halo; and iv) step-out drilling down dip and along strike to extend mineralization. Other work on the property will include surface mapping, property-wide prospecting, alteration studies and re-logging of historical drill core.An initial NI43-101 Mineral Resource Estimate (see Note 1 below) was detailed in a News Release issued on July 16th, 2019, and using a CDN$100 NSR cut-off, reported a resource of:Indicated - 244,000ozs AuEq: 85,000ozs Au, 5.2Mozs Ag, 5Mlbs Cu, 17Mlbs Pb and 114Mlbs Zn; and Inferred - 193,000ozs AuEq: 64,000ozs Au, 4.7Mozs Ag, 5Mlbs Cu, 16Mlbs Pb and 819Mlbs Zn.Over 20 different veins have been identified on the property, forming an extensive network of zoned, Cretaceous- to ...