Equity Metals (TSXV: EQTY) announced that it has received a five-year, area-based exploration permit for its 100%-owned Silver Queen Au-Ag project in British Columbia, western Canada.
In a press release, Equity said the permit allows for drilling exploration from 50 drill sites throughout the property and the construction of up to 6 kilometres of additional exploration trails.
Silver Queen consists of 45 mineral claims, 17 crown grants, and two surface crown grants totalling 18,852-hectares with no underlying royalties
“Initial drilling on the property will focus on the systematic resource expansion on a historic high-grade precious-metal-enriched epithermal vein system as well as the identification of new mineral discoveries to further increase existing mineral resources,” the media brief reads. “Three separate vein structures are targeted for exploration drilling in 2020, with the near- to mid-term objective of doubling the existing mineral resource on the property.”
Silver Queen is located 40 kilometres south of the city of Houston in the Skeena Arch region. An initial NI 43-101 Mineral Resource Estimate reported an indicated resource of 244,000 ounces AuEq: 85,000 ounces Au, 5.2M ounces Ag, 5M pounds Cu, 17M pounds Pb and 114M pounds Zn; and inferred resource of 193,000 ounces AuEq, 64,000 ounces Au, 4.7M ounces Ag, 5M pounds Cu, 16M pounds Pb and 819 pounds Zn.