Equity Metals (EQTY.V) has released the assay results from a surface rock and soil sampling program on its Silver Queen project. The company focused on the Cole Lake and Barite veins as Equity Metals had already identified those veins as high priority targets to try to increase the current resources on the Silver Queen project. Those two veins were initially discovered and subsequently trenched, mapped and sampled in the Seventies and Eighties, but no follow-up activities have taken place other than a few small and shallow drill programs.

The company highlighted three specific assays (shown above) indicating the high-grade potential of these veins. Of course the best results were showcased but the table below shows the results of eight samples from the Cole Lake area.

Of course there are many more data points as the June sampling program consisted of in excess of 1,400 soil samples collected on a surface area of 2,500 by 1,500 meters. According to the company, the soil results ‘highlight the surface trace of the No. 3 Vein, the southern extension of the George Lake and Cole Lake veins, and the broad east-west trending structural corridor that hosts the Camp and Sveinson Deposits’.

VP Exploration Rob Macdonald was also pleased with the results stating ‘[…] successfully identified several high-potential exploration targets throughout the property. These new targets will be reviewed in the context of this new data, prioritized and tested in upcoming drill programs. Work on the property is set to re-start in the coming days with new targeting on the Cole Lake vein while assays are still pending from our earlier drilling.’

The company is planning to complete up to 3,000 meters of drilling to test two specific segments of the vein that has now been traced for a length of over 700 meters. This is the continuation of the spring drill program which had to be suspended due to wildfire risk. This now also allowed the labs to catch up and the assay results from the first five holes drilled at the George Lake target (which is just a few hundred meters away from Cole Lake) should be released within 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.

Comments are closed.