Join our daily newsletter At The Bell to receive exclusive market insights
- Equus Mining (EQE) has intersected high-grade gold and silver results from the Droughtmaster Prospect in Chile
- The company has received results for three of the seven holes drilled which aimed to target multiple gold-silver vein structures
- So far, up to 566g/t silver and 13.10g/t gold has been intersected
- These results are supportive of a strong silver-gold mineralised vein system and further drilling will be undertaken to target high-grade mineralised areas
- Furthermore, Equus is progressing well with the Taitao Pit resource estimate and mine restart study which is scheduled for completion at the end of November
- Equus has dropped 14.3 per cent on the market and shares are currently trading for 1.2 cents each
Equus Mining (EQE) has intersected high-grade gold and silver results from the Droughtmaster Prospect.
Droughtmaster is part of the Cerro Bayo Project which lies roughly 10 kilometres west of Chile Chico in Chile.
Equus has received results for three of the seven holes drilled which aimed to target multiple gold-silver vein structures at the prospect. The remaining four holes are awaiting assay.
Best results so far include 0.21 metres at 13.10g/t gold and 566g/t silver from 81.6 metres, and 2.05 metres at 2.36g/t gold and 151.4g/t silver from 56.4 metres including 0.42 metres at 9.86g/t gold and 469g/t silver from 58.03 metres.
These results are supportive of a strong silver-gold mineralised vein system and further drilling will be undertaken to target high-grade mineralised areas.
“Initial high-grade results relating to relatively shallow intercepts at Droughtmaster provide continued encouragement for the potential of the prospect to host significant high-grade, gold-silver mineralisation,” Chief Operating Officer Damian Koerber commented.
“Upon completion of the stage two follow-up program and compilation of final results, further drilling will be designed accordingly,” he said.
Further, Equus is progressing well with the Taitao Pit resource estimate and mine restart study.
The resource is scheduled for completion at the end of November.
“We are further encouraged by the good progress on our brownfields resource estimation at the Taitao Pit area and look forward to releasing a maiden resource later in Q4 2020,” Damian added.
Equus has dropped 14.3 per cent on the market and shares are trading for 1.2 cents each at 1:33 pm AEDT.
