Equity Metals Company (TSXV: EQTY) (OTCQB: EQMEF) (“Fairness”) studies at the moment that the beforehand introduced Part III 4,000-metre drill program is underway on the Silver Queen Property, B.C., with this system specializing in the southeastern portion of the high-grade, gold-enriched No. 3 and NG-3 veins.
Assay outcomes from eight core holes drilled throughout Part II, accomplished in December 2020 as a comply with as much as a profitable Part I exploration program on the Camp Vein in addition to an preliminary drill take a look at of the close by No. 5 Vein, are nonetheless pending with receipt of all assay knowledge anticipated by the top of February.
Determine 1. Longitudinal Part of the No. 3 & NG-3 veins exhibiting NSR distribution, pierce-points of the 2020 present and 2021 Part III drill holes.
To view an enhanced model of Determine 1, please go to:
In different information, the corporate has initiated a ‘tow-mag’ survey (magnetometer survey pulled by snowmobile) at a 50m line spacing on two claims on the Monument Diamond challenge. The claims are situated to the north of the leases that make up the primary tenures of the property and the brand new survey will hyperlink up with current magnetics over the primary portion of the property. Along with finishing our magnetics protection, this work will meet our exploration and evaluation necessities for these claims and set the stage for follow-up surveying if new targets are recognized.
About Silver Queen Venture
The Silver Queen Venture is a premier gold-silver property with over 100 years of historic exploration and improvement situated adjoining to energy, roads and rail with important mining infrastructure that was developed beneath earlier operators Bradina JV (Bralorne Mines) and Houston Metals Corp. (a Hunt Brothers firm). The property incorporates a 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 floor crown grants totalling 18,852ha with no underlying royalties. Mineralization is hosted by a collection of epithermal veins distributed over a 6 sq km space. Many of the current useful resource is hosted by the No. 3 Vein, which is traced by drilling for about 1.2km and to the southeast transitions into the NG-3 Vein near the buried Itsit porphyry.
An preliminary NI43-101 Mineral Useful resource Estimate (see Observe 1 under) was detailed in a Information Launch issued on July sixteenth, 2019, and utilizing a CDN$100 NSR cut-off, reported a useful 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 92Mlbs Zn.
Greater than 20 totally different vein buildings have been recognized on the property, forming an intensive community of zoned Cretaceous- to Tertiary-age epithermal veins. The property stays largely beneath explored.
About Equity Metals Company
Equity Metals Company is a Manex Useful resource Group Firm. Manex gives exploration, administration, and company improvement companies for Equity Metals‘ two main mineral properties, the Silver Queen Au-Ag-Zn-Cu challenge, situated in central B.C., and the Monument Diamond challenge, situated in Lac De Gras, NWT.
The Firm owns 100% curiosity, with no underlying royalty, within the Silver Queen challenge, situated alongside the Skeena Arch within the Omineca Mining Division, British Columbia. The property hosts high-grade, precious- and base-metal veins associated to a buried porphyry system, which has been solely partially delineated. The Firm additionally has a controlling JV curiosity within the Monument Diamond challenge, NWT, strategically situated within the Lac De Gras district inside 40 km of each the Ekati and Diavik diamond mines The challenge house owners are Equity Metals Company (57.49%), Chris and Jeanne Jennings (22.11%); and Archon Minerals Ltd. (20.4%). Equity Metals is the operator of the challenge.
The Firm additionally has royalty and dealing pursuits in different Canadian properties, that are being evaluated additional to find out their worth to the Firm.
- The 2019 Silver Queen Useful resource Estimate was ready following CIM definitions for classification of Mineral Assets and recognized at a CDN$100/NSR cut-off, an indicated useful resource of 815Kt averaging 3.2g/t Au, 201g/t Ag, 1.0% Pb, 6.4% Zn and 0.26% Cu and an inferred useful resource of 801Kt averaging 2.5g/t Au, 184g/t Ag, 0.9% Pb, 5.2% Zn and 0.31% Cu. Grade capping on Ag and Zn was carried out on 0.75m to 1.24m size composites. Au, Cu and Pb required no capping. ID3 was utilized for grade interpolation for Au and Ag whereas ID2 was utilized for Cu, Pb and Zn. Grade blocks had been interpreted inside constraining mineralized domains utilizing and array of 3m x 1m x 3m blocks within the mannequin. A bulk density of three.56 t/m³ was used for all tonnage calculations. Approximate US$ two-year trailing common metallic costs as follows had been used: Au $1,300/oz, Ag $17/oz, Cu $3/lb, Pb $1.05/lb and Zn $1.35/lb with an trade fee of US$0.77=C$1.00.
The C$100/tonne NSR cut-off grade worth for the underground Mineral Useful resource was derived from mining prices of C$70/t, with course of prices of C$20/t and G&A of C$10/t. Course of recoveries used had been Au 79%, Ag 80%, Cu 81%, Pb 75% and Zn 94%. AuEq and AgEq are based mostly on the system: NSR (CDN) = (Cu% * $57.58) + (Pb% * $19.16) + (Zn% * $30.88) +(Au g/t * $39.40) + (Ag g/t * $0.44) – $78.76.
Mineral Assets will not be Mineral Reserves, do not need demonstrated financial viability and could also be materially affected by environmental, allowing, authorized, title, taxation, socio-political, advertising and marketing, or different related points. Inferred Mineral Assets have a decrease stage of confidence than Indicated Mineral Assets and might not be transformed to a Mineral Reserve however could also be upgraded to an Indicated Mineral Useful resource with continued exploration. The Mineral Assets had been estimated utilizing the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Requirements on Mineral Assets and Reserves, Definitions and Tips.
The Mineral Useful resource Estimate was ready by Eugene Puritch, P.Eng., FEC, CET and Yungang Wu, P.Geo., of P&E Mining Consultants Inc. (“P&E”) of Brampton, Ontario, Unbiased Certified Individuals (“QP”), as outlined by Nationwide Instrument 43-101. P&E Mining means that an underground mining situation is acceptable for the challenge at this stage and has really useful a CDN$100/tonne NSR cut-off worth for the base-case useful resource estimate.
Robert Macdonald, MSc. P.Geo, is VP Exploration of Equity Metals Company and a Certified Particular person as outlined by Nationwide Instrument 43-101. He’s chargeable for the supervision of the exploration on the Silver Queen challenge and for the preparation of the technical info on this disclosure.
On behalf of the Board of Administrators
“Joseph Anthony Kizis, Jr.”
Joseph Anthony Kizis, Jr. P.Geo
President, Director, Equity Metals Company
Neither TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this launch. This information launch might comprise forward-looking statements. Ahead-looking statements handle future occasions and circumstances and subsequently contain inherent dangers and uncertainties. Precise outcomes might differ materially from these at the moment anticipated in such statements. Elements that would trigger precise outcomes to vary materially from these in forward-looking statements embody the timing and receipt of presidency and regulatory approvals, and continued availability of capital and financing and basic financial, market or enterprise circumstances. Equity Metals Company doesn’t assume any obligation to replace or revise its forward-looking statements, whether or not because of new info, future occasions or in any other case, besides to the extent required by relevant regulation.
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