- Equus Mining (EQE) intersects high-grade gold and silver from the Pegaso targets at the Cerro Bayo Project in Chile
- Results have only been received for the Pegaso II target which saw grades peak at 7.07g/t gold and 656g/t silver
- Close spaced drilling has been planned to further test this target in the second half of the year
- Results for Pegaso III, IV and V are pending and are expected in due course
- Equus has ended the day 8.33 per cent in the red with shares trading at 1.1 cents
Equus Mining (EQE) has intersected high-grade gold and silver from the Pegaso targets at the Cerro Bayo Project in Chile.
Additionally, a second diamond drill rig has been secured to speed-up exploration of high priority targets.
Results have been received from a further seven holes drilled over a 600-metre-long portion of the one-kilometre-long target.
Best results include 0.24 metres at 7.07 grams of gold per tonne (g/t) and 63.8g/t silver from 187.56 metres; and 0.38 metres at 5.84g/t gold and 656g/t silver from 169.27 metres.
Drilling to date has confirmed the extension of high-grade mineralisation in multiple structures along a significant portion of the trend.
Results are pending for an additional three holes which are expected to be received in due course.
Closer spaced drilling has been planned to further test Pegaso II during the remainder of the year.
Results are pending for four holes, for 993.6 metres, drilled across the Pegaso III, IV and V targets.
Encouraging visual indications of high-level mineralisation has been intersected.
Chief Operating Officer Damien Koerber says the company is pleased by the encouraging results received.
“The Pegaso targets continue to provide encouraging evidence that the high-grade mineralisation from historical mining areas is present in multiple structures along the majority of the one-kilometre-long target between the Delia NW Mine and the Taitao Pit,” Mr Koerber said.
“Armed with these results and an additional diamond drill rig now on site we can begin to accelerate our exploration efforts on our growing pipeline of high priority targets.”
Equus has ended the day 8.33 per cent in the red with shares trading at 1.1 cents in a $30.01 million market cap.