- Small cap miner Equity Metals (EQTY) has hit bonanza grade silver during a step-out drill program at its Silver Queen project in British Columbia
- Recent exploration at the site returned a 0.3 metre interval at 56,115 grams per tonne silver, within a broader intersect at 12,448 grams per tonne silver across 1.65 metres
- The notable intersect came from a 50 metre step-out hole, which was following up a drill hole that hit 656 grams per tonne of silver during a previous program
- The mineralization identified by the drilling is relatively shallow and will be the subject of further drilling in the coming months
- Equity Metals (EQTY) is up 28.13 per cent and is trading at C$0.20 per share
Small cap miner Equity Metals (EQTY) has hit bonanza grade silver during a step-out drill program at its Silver Queen project in British Columbia.
The hole in question returned a 0.3 metre interval at 56,115 grams per tonne silver, within a broader intersect at 12,448 grams per tonne across 1.65 metres. The latter interval also intersected 0.2 grams per tonne gold, 1.1 per cent copper, 0.6 per cent lead and 1.2 per cent zinc.
The notable intersect came from a 50 metre step-out hole, which was following up a drill hole that hit 656 grams per tonne of silver during a previous program.
The impressive hit came as part of an 864-metre program, which was testing the site’s Camp Vein system
Vice President Exploration Rob Macdonald said commented on the impressive intercepts.
“the spectacular silver grades help to confirm both the tenor and quality of historical assay results from the 1980’s drilling, establish continuity within potentially traceable structures identified in both the modern and historic drilling and support the Company’s goal of developing new mineral resources on the Camp Vein target,” he added.
Rob went on to say that the mineralization identified is relatively shallow and is open for offset drilling, which will be the subject of further drilling in the coming months.
The Silver Queen project’s has more than 100 years of exploration history and substantial remaining infrastructure from its previous holders, which include Bradina JV and Houston Metals Corp.
The project covers 19,000 hectares and contains 45 mineral claims, 17 crown grants, and two surface crown grants.
The last mineral resource estimate, which was completed in mid-2019, calculated the site to contain up to 244,000 indicated ounces of silver. However, the company has not yet outline if this new intersect is likely to substantially expand this recent estimate.
Equity Metals (EQTY) is up 28.13 per cent and is trading at C$0.20 per share at 1:15 pm EDT.