Equity Metals Corporation (TSX-V:EQTY, OTCQB:EQMEF) told investors it has mobilized crews and drilling has resumed in the second phase of drilling for 2023 at its 100%-owned Silver Queen silver-gold project in central British Columbia.
The company said in a statement that up to 4,000 metres of drilling will focus on the initial delineation of two new targets — the Cole and George Lake veins systems — located to the northeast of the 2022 updated Mineral Resource Estimate (MRE) on the property. The new targets are not included in the MRE, it added.
Historic drilling at the George Lake target identified several veins over a 120-metre strike length and up to 200 metres below surface, the company said, noting that the veins remain open laterally to the northwest-southeast and at depth for further delineation and extension during this phase of work.
At the Cole Lake target, historic drilling identified multiple vein intercepts over a 700-metre strike length and to depths of over 400 metres below surface. Mineralization at both targets remains strongly gold- and silver-enriched, often with significant concentrations of base metals.
”The Summer 2023 program marks our expansion to test two high-priority targets that have encouraging drill intercepts from historic drilling,” Equity Metals CEO Joe Kizis said.
“George Lake mineralization could be particularly significant as historic underground access exists, potentially providing a source of increased mill feed. Though currently flooded, that access could be dewatered for inexpensive access to another mineralized vein system.”
Equity Metals said it expects assays from the remaining seven drill holes of the nine-hole Phase 1 Spring 2023 drilling program to be released in the coming weeks.
Contact the author at stephen.gunnion@proactiveinvestors.com