Equitas Resources (EQT.V) has released an updated exploration plan for its Crepori gold asset in Brazil’s Para state. Even though the entire region has been mined by artisanal miners in the eighties, Equitas’ land claims have never been drilled before despite being located in the Tapajos Gold Belt, which ists two existing gold mines and four advanced-stage gold exploration projects.
Equitas has now been working on a surface exploration program, and it’s encouraging to see 5 of the 10 samples returned gold values of in excess of 8 g/t, which makes the Crepori project a new top priority target to discover a high-grade gold vein system. Equitas is now planning to complete an IP program as well as magnetic survey to shortlist targets that will have to be drill-tested with a diamond drill program.
Equitas is working on completing a private placement in an attempt to raise C$500,000. The placement will consist of 11.11 million units priced at C$0.045, with each unit consisting of one share and a full warrant exercisable at C$0.08 within eighteen months after the issue date. Insiders of the company plan to subscribe for a substantial part of this offering (which is really nice to see), but Equitas will give non-insiders priority.
Go to Equitas’ website
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