Equity Metals (EQTY.V) has been drilling at the Camp Deposit and the George Lake target of its flagship Silver Queen gold-silver project. At the Camp Deposit, two different drill holes both intersected very high grade silver mineralization, as you can see below.
While the bonanza grade mineralization was encountered in 0.7 meter intervals, it’s worth noticing in both cases these narrow intervals were part of wider intervals of 3.5 meters and 2.3 meters respectively. Meanwhile the high-grade mineralization in hole SQ24-124 stated at less than 150 meters down hole and the location of the mineralization helps the company to build lateral continuity in one of the veins it was able to previously model. Also keep in mind this is an ‘early’ release: both holes continued at depth but assay results for the deeper zones are still outstanding.
The company also released assay results from the George Lake target (shown below). Hole 113 is pretty interesting mainly due to the exceptionally high gold grade but then a little bit further away, in hole 111, the base metal grades are picking up while the gold value dropped off pretty severely.
And that’s exactly what Equity Metals needs: grade. Silver Queen is, and will always be a narrow vein system which means the grade needs to make up for the potential mining dilution in a production scenario.
Disclosure: The author has a long position in Equity Metals. Equity is a sponsor of the website. Please read the disclaimer.
