Equity Metals (EQTY.V) released the assay results from two holes drilled towards the west from the Camp Vein target. The holes were targeting additional mineralization towards the west and down-dip from the Camp vein target. The assay results of two holes, 35 and 36, were released with some good results.
2.3 meters of 604 g/t silver-equivalent is good, and although this was mainly fueled by an interval of 0.5 meters of 1,761 g/t silver-equivalent. This doesn’t mean there was a lot of smearing; even if you’d isolate that 0.5 meter interval, the residual 1.8 meters would still have an average grade of almost 300 g/t silver-equivalent.
Hole 36 also contained silver mineralization but not to the same extent as hole 35. Hole 36 encountered several zones that would meet the cutoff grade for an underground vein-type mine, but most intervals are relatively narrow although for instance 2 meters of 248 g/t silver-equivalent and 1.1 meters of 261 g/t silver-equivalent are still very decent.
The main takeaway from Equity’s update is the fact hole 35 is extending the vein system an additional 50 meters to the west from previous drill programs, while hole 35 reached a vertical depth of almost 200 meters which is deeper than the historical drill holes. The company still needs to release the assay results from one more hole from this zone (hole 49), which tested the footwall of the Camp Vein target. A total of 26 holes still has to be reported on, so Equity Metals will likely have a lot of news flow during this winter.
Disclosure: The author has a long position in Equity Metals. Equity Metals is a sponsor of the website. Please read our disclaimer.
