EQ Resources Limited ('EQR' or 'the Company') is pleased to announce the results of a further 37 Infill Reverse Circulation Drill holes ('RC' holes), totaling 1,437m of drilling and targeting the main benches of the Andy White Open Pit.
Drilling from the current pit floor at the 295-305m level reveals four main zones of mineralization, covering a 100m strike and 80m width. This section is part of the main vein system, known to extend for 1.2km along strike with substantial width. Parallel and to the north lies the Iron Duke Vein system, similar in scale but currently defined only at the inferred resource level. Both vein systems extend an additional 80m below the planned Pit II depth of 250m RL. Further evaluations will be conducted to assess deeper extensions. EQR's CEO, Kevin MacNeill, commented: 'The main ore body level at the Iolanthe-Bluff-Wayback-Johnson vein system shows outstanding results. Although mining will commence next year on most of these benches, it is pleasing to see that the excellent infill results align well with our Pit II design. The consistency of these veins confirmed in this round of drilling provide us very promising targets for underground vein mining, and the extensions of these zones to the west will constitute a substantial part of our underground ore body.'
Contact:
Kevin MacNeill
Chief Executive Officer
Tel: 0412 036 231
Email peter@nwrcommunications.com.au
About the Company
EQ Resources Limited is a leading tungsten mining company dedicated to sustainable mining and processing practices. The Company is listed on the Australian Securities Exchange, with a focus on expanding its world-class tungsten assets at Mt Carbine in North Queensland (Australia) and at Barruecopardo in the Salamanca Province (Spain). The Company leverages advanced minerals processing technology and unexploited resources across multiple jurisdictions, with the aim of being a globally leading supplier of the critical mineral, tungsten. While the Company also holds gold exploration licences in New South Wales (Australia), it aims to create shareholder value through the exploration and development of its current project portfolio whilst continuing to evaluate corporate and exploration opportunities within the new economy and critical minerals sector globally.
Competent Person's Statements
EQ Resources' exploration and resource work is being managed by Mr. Tony Bainbridge, AusIMM. Mr. Bainbridge is engaged as a contractor by the Company and is not 'independent' within the meaning of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr. Bainbridge has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in JORC Code 2012. The technical information contained in this announcement relating exploration results are based on, and fairly represents, information compiled by Mr. Bainbridge.
Forward-looking Statements This announcement 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. Particular risks applicable to this announcement include risks associated with planned production, including the ability of the Company to achieve its targeted production outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates.
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