Join our daily newsletter At The Bell to receive exclusive market insights
- Equus Mining (EQE) has received up to 4350g/t silver from rock-ship samples from the Pegaso targets at the Cerro Bayo Project in Chile
- Equus has now received results from a further 57 samples taken from the Pegaso II, Pegaso III, and Pegaso IV targets
- All of these results have confirmed both high-grade silver and gold mineralisation at the project
- The aim of this work is to further define mineralisation across these targets before a 5500-metre diamond drilling program can begin
- Equus is up 13.3 per cent and shares are currently trading for 1.7 cents each
Equus Mining (EQE) has received up to 4350g/t silver from rock-ship samples from the Pegaso targets at the Cerro Bayo Project in Chile.
This news follows the previous high of 2810g/t silver unearthed in late August.
Equus has now received results from a further 57 samples taken from the Pegaso II, Pegaso III, and Pegaso IV targets.
The aim of this work is to further define mineralisation across these targets before a 5500-metre diamond drilling program can begin.
Pegaso II
18 samples were collected from Pegaso II, averaging a grade of 0.2g/t gold and 49.5g/t silver.
Peak results include 0.9g/t gold and 239g/t silver.
Pegaso III
32 samples were collected from the Pegaso III target with an average grade of 2.9g/t gold and 506.5g/t silver.
Results peaked at 17.8g/t gold and 4350g/t silver which complement outcropping veining along a 300-metre strike length which remains largely unexplored by previous work.
Pegaso IV
The final seven samples were taken from the Pegaso IV target which averaged grades of 0.3g/t gold and 45.5g/t silver and peaked at 1g/t gold and 96.7g/t silver.
“The high-grade rock chip results from the Pegaso targets report to portions of vein structures that sit along strike from high-grade historical mines, and within close proximity to the Cerro Bayo flotation plant, but importantly remain underexplored by historical drilling,” Managing Director John Braham said.
“The Pegaso targets form part of the company’s duel-track strategy leveraging evaluation of existing resources and brownfield and greenfields discoveries to provide resource ounces for a near-term mine restart,” he added.
Equus is up 13.3 per cent and shares are trading for 1.7 cents each at 11:42 am AEST.
