Equity Metals (EQTY.V) has released assay results from its Phase III drill program on its Silver Queen polymetallic project in British Columbia. A total of five holes have now been reported on, and two of those holes were drilled on the so-called NG3 Vein, which appears to be a mineralized structure running parallel to the known No3 Vein. The highlights of those two holes are summarized below:

While the widths are very narrow with estimated true widths of 0.6 meters, 1.1 meters and 1.2 meters, the silver-equivalent grade (or gold-equivalent grade) is quite decent. According o VP Exploration Rob MacDonald, these first few holes on the NG3 Vein have now confirmed the continuity of the mineralized veins to at least 250 meters while maintaining a decent grade. As you may remember, holes 24 and 25 (clearly visible below) were drilled to effectively test the continuity, and as you can see on the second image, the intersected mineralization is clearly outside of the current NI43-101 compliant resource.

Equity also released the assay results from three holes drilled on the No3 Vein, summarized below. Once again, relatively (to very) narrow intervals but with good to excellent average grades.

These three holes are also important for the project as a whole as they expand the No3 Vein both down dip (for an additional 50 meters below surface) and laterally as well. This further expands the footprint of the No3 Vein and should add additional tonnes to the currently known resource.

Equity Metals has now completed almost 5,000 meters of drilling in the Phase III drill program, which brings the total amount of meters drilled since the start of the drill program in August 2020 to just under 10,000 meters. The company seems to be quite satisfied with the results so far as it has been able to expand the currently known mineralization and hopefully this will result in an expanded resource at Silver Queen. The intervals remain quite narrow, but the grades are quite good.


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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