Equity Metals (EQTY.V) released an exploration update last week with the assay results of five holes drilled on the Silver Queen project.

Holes 22 and 23 were drilled as lateral step-outs and down-dip of the No3 Vein block model with hole 22 testing the southeastern edge and hole 23 testing the area about 50 meters down dip of hole 22. Both holes intersected high-grade mineralization with 4.7 meters (true width) containing almost 1.4 kilos of silver-equivalent per tonne including a narrower interval of 2 meters (again, true width) containing in excess of 2.3 kilos of silver per tonne. Hole 23 also intersected the mineralization with an interval of 1.6 meters (true width) containing 1,124 g/t AgEq.

As you can see on the image above, both holes also intersected very narrow intervals of high-grade material but those 0.2 and 0.4 meter intervals are obviously not nearly as important as the wider intervals.

Holes 19 and 21 on the other hand tested the area between the No3 and NG3 Veins as Equity Metals is trying to establish if there’s continuity between both zones. Both holes indeed did intersect mineralization, but with just 0.4 meters of true width there’s more work needed to figure out if the zones can be connected in a way that makes sense. But as you can see below, Equity Metals obviously just ‘had’ to figure out the structures.

Equity still has to report on the assay results of holes 24 and 25 which were drilled closer to the NG3 Vein and it will be interesting to see if perhaps the widths pick up again.

A total of 13 holes were drilled on the Silver Queen property as part of the Phase III drill program, and as Equity has now released the assay results of five holes, we are expecting to see assay results from an additional eight holes in the next few weeks.

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

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