Equity Metals Corporation has announced that Kirkham Geosystems Ltd (KGL) and P&E Mining Consultants Inc. (P&”) have completed an updated independent mineral resource estimate (MRE) for the Silver Queen project, British Columbia, Canada. The MRE features lateral and down-dip extensions of the previously modelled No. 3 and NG-3 Veins, originally included in the 2019 MRE, and new, previously unmodelled mineralisation from the Camp and Sveinson targets. The MRE utilises a net smelter return (NSR) cut-off at CAN$100/t with updated metal pricing.
Highlights:
- Increase in indicated category by 187% to 62.8 million oz AgEq, or by 214% to 765 000 oz AuEq: 21.0 million oz Ag (+297%), 237 000 oz Au (+179%), 18 million lb Cu (+288%), 48 million lb Pb (+178%) and 267 million lb Zn (+134%).
- Increase in inferred category by 30% to 22.5 million oz AgEq or by 41% to 273 000 oz AuEq: 10.3 million oz Ag (+117%), 50 000 oz Au (-21%), 10 million lb Cu (+79%), 23 million lb Pb (+45%) and 84 million lb Zn (-9%).
President Joe Kizis commented:
“At the time we assumed management of the company in 3Q19, we felt there were clear opportunities to quickly add significantly to the 2019 MRE at Silver Queen, and we are proud to report our success at a very low cost of US$0.15/oz of added AgEq or US$11/oz of added AuEq. The MRE remains open for additional delineation west of the Camp target and within the Sveinson target. In addition, there are several targets that have only been tested by a few drill holes and remain very attractive areas for new discoveries and MRE increase.”