Equity Metals Corporation (TSX-V:EQTY, OTCQB:EQMEF) announced “encouraging” assay results from the final four holes drilled at the George Lake target on its 100% owned Silver Queen silver-gold project in British Columbia.
The company said the result comprised the thickest intercept of mineralization identified to date at the target and some of the highest gold grades, including relatively shallow gold-enriched mineralization identified at the top of drillholes SQ23-094 and SQ23-094 in a previously undetected vein that it said requires further drilling and delineation.
Highlights from the results included a 0.9-metre interval averaging 7.1 grams per ton (g/t) gold, 56 g/t silver, 0.2% copper, 1.5% lead and 6% zinc (11.6 g/t gold equivalent or 946 g/t silver equivalent within a 3-metre interval averaging 2.5 g/t gold, 31 g/t silver, 0.4% copper, 0.5% lead and 2.5% zinc (4.8 g/t gold equivalent or 394 g/t silver equivalent) starting at 320.2 metres downhole from drillhole SQ23-093.
Drillhole SQ23-094 returned a 0.9-metre interval averaging 1.2 g/t gold, 98 g/t silver, 0.1% copper, 2.6% lead and 17.7% zinc (12.3 g/t gold equivalent or 1,002 g/t silver equivalent) within a 3.6-metre interval averaging 0.4 g/t gold, 32 g/t silver, 1.1% lead and 5.6% zinc (4.1 g/t gold equivalent or 333 g/t silver equivalent) starting at 322.2 metres downhole.
Additionally, drillhole SQ23-094 returned a 0.5-metre interval averaging 10.4 g/t gold, 115 g/t silver, 0.6% copper, 0.9% lead and 1.4% zinc (13.7 g/t silver equivalent or 1,118 g/t silver equivalent) starting at only 12.3 metres downhole.
"These latest drill results clearly confirm the George Lake target as a new, under-explored mineralized zone that is open for resource expansion,” Equity Metals VP Exploration Rob Macdonald said in a statement.
“The target remains open laterally and to depth and is a primary target for further drill testing in 2024. Also, the identification of such robust gold grades in a previously unknown vein at shallow depths presents a new and compelling target for further drill testing, confirming our belief that unexposed veins beneath extensive areas of cover provide significant exploration potential.
“Additionally, we look forward to assay results from visually interesting holes drilled at the Cole Lake target, potentially providing further news flow from Silver Queen."
Across the whole property in 2023, the company said it completed 26 core holes with 9,989 metres drilled and 1,437 soil sediment samples were collected.
Equity Metals is a member of the Malaspina-Manex Group. It owns a 100% interest, with no underlying royalty, in the Silver Queen project, located along the Skeena Arch in the Omineca Mining Division, British Columbia.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on X, formerly known as Twitter, @emilyjjarvie