Equity Metals boosts indicated silver resources by 297% at the Silver Queen project in BC
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(Kitco News) - Equity Metals (TSXV: EQTY) today released an updated independent mineral resource estimate (MRE) for the Silver Queen project, located in British Columbia, Canada.
In its press release, the company said that the MRE update features a significant increase in contained silver ounces in both the Indicated (+297%) and Inferred (+117%) categories, which is supported in large part by the addition of strongly silver enriched mineralization from the Camp Veins.
Highlights of the updated MRE include increase in Indicated category by 187% to 62.8Mozs AgEq or by 214% to 765Kozs AuEq, which consists of 21.0Mozs Ag (+297%), 237Kozs Au (+179%), 18Mlbs Cu (+288%), 48Mlbs Pb (+178%) and 267Mlbs Zn (+134%).
The company also reported increase in Inferred category by 30% to 22.5Mozs AgEq or by 41% to 273Kozs AuEq, which consists of 10.3Mozs Ag (+117%), 50Kozs Au (-21%), 10Mlbs Cu (+79%), 23Mlbs Pb (+45%) and 84Mlbs Zn (-9%).
President Joe Kizis commented, "At the time we assumed management of the Company in Q3 of 2019, 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 $0.15/oz of added AgEq or $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."
The Silver Queen project is a gold-silver property with over 100 years of historical exploration and development and is located adjacent to power, roads and rail with significant mining infrastructure that was developed under previous operators. The property contains two historical declines into the No. 3 Vein, camp infrastructure, and a maintained tailings facility.
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