Equity Metals Corp. (TSXV: EQTY; OTCQB: EQMEF; FSE: EGSD) has released initial assay results from its fall 2024 drilling program at the Silver Queen Au-Ag (gold-silver) project in British Columbia, confirming high-grade gold, silver, and base metals across several key target areas.
The company completed 16 core holes totaling 5,952 meters on the No. 3 North target as part of its fall 2024 drill program. The first batch of assay results reveals significant mineralization, including a 7.6-meter interval from hole SQ24-136 that assayed 1.1 g/t gold, 42 g/t silver, 0.7% lead, and 4.4% zinc (431 g/t silver equivalent or 5.8 g/t gold equivalent). Notably, this interval also includes a 1.6-meter section grading 2.3 g/t gold, 121 g/t silver, 2.7% lead, and 19.0% zinc (1,475 g/t silver equivalent or 19.8 g/t gold equivalent).
Another highlight comes from hole SQ24-130, which returned a 3.3-meter interval grading 2.8 g/t gold, 66 g/t silver, 1.4% lead, and 6.9% zinc (710 g/t silver equivalent or 9.6 g/t gold equivalent), including a 1.1-meter section averaging 4.7 g/t gold, 115 g/t silver, 2.7% lead, and 13.8% zinc (1,341 g/t silver equivalent or 18.0 g/t gold equivalent).
Additionally, hole SQ24-131 intersected a 2.4-meter interval grading 0.5 g/t gold, 376 g/t silver, 0.4% copper, and 0.1% zinc (473 g/t silver equivalent or 6.4 g/t gold equivalent).
These results confirm both the grade and tenor of mineralization extending beyond the northern end of the No. 3 vein resource model, with higher-grade gold and silver intercepts identified 100 meters below the current resource estimate, as well as 100 meters further northwest. The drilling also demonstrated strong continuity of the No. 3 vein, with high-grade copper-rich intercepts in the hangingwall, including 8.6 g/t gold, 790 g/t silver, and 3.2% copper over 0.3 meters (1,841 g/t silver equivalent or 24.8 g/t gold equivalent) from SQ24-136.
The No. 3 vein, which is the largest known deposit on the Silver Queen property, accounts for 65% of the current modeled mineral resources. The northern extension of the No. 3 vein is considered a new target area for the company, potentially extending the vein system by over 300 meters to the northwest, significantly enhancing the project’s resource potential.
Rob Macdonald, Vice President of Exploration, commented, “The northern extension of the No. 3 vein is a key focus of our 2024 drilling efforts. With mineralization remaining open both laterally and at depth, we see significant potential for resource expansion. The proximity to historical underground workings could reduce future development costs, should underground mining be pursued.”
The 2024 exploration program, which includes 42 core holes totaling 17,209 meters, has also identified mineralized strike lengths of 550 meters at the George Lake target and 400 meters at No. 3 North, along with extensions of previously identified veins at the Camp deposit and a new discovery at Camp North. Assays are pending for the final 10 drill holes from the 2024 program, expected in the coming weeks.
Looking ahead, the company plans to integrate the 2024 drilling results into updated exploration and resource models in preparation for a mineral resource update in 2025, as well as continued drilling to expand the Silver Queen vein system.
The Silver Queen project, which spans 18,871 hectares, is strategically located near power, roads, and rail infrastructure in British Columbia’s Omineca mining division. The property hosts more than 20 epithermal veins, with historical exploration dating back over 100 years. Equity Metals holds 100% ownership of the project, with no underlying royalties, and is fully financed for its 2025 exploration and development programs at Silver Queen and the Arlington Project.
Equity Metals Corp. is a member of the Malaspina-Manex Group and continues to advance its high-grade silver and gold exploration efforts at Silver Queen, where significant mineralization related to a buried porphyry system remains only partially delineated.
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