Equity Metals Corporation (TSX-V:EQTY, OTCQB:EQMEF) said it is planning a new drill program to test new targets on its Silver Queen property.
Throughout 2023, Equity Metals conducted core drilling to extend known mineralized veins and identify new mineralization, aiming to bolster the project's resource base. The Silver Queen resource demonstrated a substantial increase in the 2022 estimate compared to 2019.
Drilling at George Lake and Cole Lake, two exciting targets not included in the current resource, could lead to encouraging news from Silver Queen.
In 2023, the company sank 26 core holes totaling 9,989 meters, and collected 1,437 soil sediment samples. Assay results for the final six holes are pending.
This year, drilling will focus on resource expansion and delineation of mineralization at various targets, including George Lake and Cole Lake. An initial 6,000 meters of drilling is planned to test new targets.
Additionally, the company said it issued incentive stock options, allowing directors, officers, and consultants to acquire 3.65 million common shares at an exercise price of $0.12 per share. The options are valid for a five-year period.