Equity Metals hits high-grade silver mineralization in first hole of the 2023 exploration campaign

Equity Metals (EQTY.V) has released assay results from the first hole drilled on its flagship Silver Queen silver-gold project in British Columbia. The company has completed the first phase of its spring exploration program, and the assay results of a portion of the first hole are now available (assay results are still pending from the lower part of hole SQ23-079).

The assay results that have been released so far were found in the top 300 meters of the hole, which was a down-dip step out hole from SQ22-078 (which returned 5.2 meters with an average grade of 778 g/t silver-equivalent). The upper zone of the hole contained two distinct zones of mineralization with 1.2 meters containing 460 g/t silver-equivalent (within a 2.6 meter interval which had an average grade of 291 g/t silver-equivalent) while a slightly deeper interval encountered 0.3 meters of 1,581 g/t silver-equivalent within a 2.1 meter interval with an average grade of 446 g/t silver-equivalent.

A total of nine holes have been drilled so far as part of the Spring exploration program, and drilling has now been paused until the results from those nine hols are in (those holes mainly focused on the westward strike extension of the Camp Target and the potential extensions of the Sveinson vein set). Meanwhile, other exploration activities are still ongoing and the company’s field team is gearing up to complete a soil sampling program with about 1,400 soil samples to be taken over a 6 square kilometer area. Drilling will resume in mid-June to target the Cole Lake and George vein targets at Silver Queen. These vein targets have been drill-tested before as historical drill holes have identified several hundreds of meters of strike length and Equity Metals will now conduct its own drill program on these targets.

We expect to see additional assay results to be released over the next few weeks and hopefully the designed drill program will indeed add tonnes and ounces to the currently known resource at Silver Queen.

Disclosure: The author has a long position in Equity Metals. Equity is a sponsor of the website. Please read our disclaimer.

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