Equity Metals Corporation
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
Suite 1100, 1199 West Hastings Street Vancouver, BC Canada V6E 3T5 |
| Tel No.： | 604-684-9384 |
| Fax No.： | 604-684-0642 |
| Web Site： | www.equitymetalscorporation.com |
| E-mail： | joness@mnxltd.com |
| Contact Person： | Jay Oness |
| Position： | Corporate Development |
| Traded Market： | TSX-V | OTCQB | FSE |
| Traded Symbol： | EQTY | EQMEF | EGSD |
| Outstanding Shares： | 131.50 million |
| 52 Week High： | $ 0.28 |
| 52 Week Low： | $ 0.035 |
| Present Price： | Click Here |
Equity Metals is a Malaspina-Manex Group company. The Company owns 100-per-cent interest, with no underlying royalty, in the flagship Silver Queen project, located along the Skeena Arch in the Omineca mining division, British Columbia, Canada. The property hosts high-grade precious and base metal veins related to a buried porphyry system, which has been only partially delineated.
The Company also has a controlling joint venture interest (57.49 per cent) in the Monument diamond project, Northwest Territories, Canada, strategically located in the Lac De Gras district within 40 km of both the Ekati and Diavik diamond mines. The Company also has royalty and working interests in other Canadian properties, which are being evaluated further to determine their value to the Company.
Investment Highlights
- High-grade resource open for expansion at its Silver Queen Project in B.C.
- Exceptional assay results demonstrate exploration upside across several veins
- New NI 43-101 Mineral Resource Estimate (Dec-22) increases: Indicated Resources +180% AgEq; Inferred Resources +30% AgEq over 2019 estimate
- Funded with targets identified for continued exploration and project advancement in 2023
- Experienced management and geological team with a proven track record
- Prospective diamond assets in a prolific diamond producing district
Silver Queen Project December 2022 Resource Estimate
- Indicated: 21.0Mozs Ag, 237Kozs Au, 18Mlbs Cu, 48Mlbs Pb and 267Mlbs Zn (62.8Mozs AgEq or 765Kozs AuEq)
- Inferred: 10.3Mozs Ag, 50Kozs Au, 10Mlbs Cu, 23Mlbs Pb and 84Mlbs Zn (22.5Mozs AgEq or 273Kozs AuEq)
Silver Queen Project, British Columbia, Canada
The Silver Queen project is a premier gold-silver property with over 100 years of historic exploration and development. The property is surrounded by major mines and deposits, and is located adjacent to power, roads and rail with significant mining infrastructure. The property contains a historic decline into the No. 3 vein, camp infrastructure and a maintained tailings facility.
The Silver Queen property consists of 45 mineral claims, 17 Crown grants and two surface Crown grants totalling 18,852 hectares with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a six-square-kilometre area. An updated NI 43-101 mineral resource estimate was detailed in a news release issued on Dec. 1, 2022, and effectively doubled the mineral resources on the project on a silver equivalency basis with contributions from four separate veins.
More than 20 different veins have been identified on the property, forming an extensive network of zoned Cretaceous- to Tertiary-age epithermal veins. The property remains largely underexplored.
High-grade NI 43-101 Mineral Resource (2022)
- 62.8 Moz AgEq grading 565 g/t AgEq (indicated)
- 22.5 Moz AgEq grading 365 g/t AgEq (inferred)
Ongoing drilling demonstrates expansion
- 25,659 m (78 holes) completed by Equity Metals in 2020-22
- Drilling to test extensions of the Camp and Sveinson deposits, Cole Lake and George Lake Targets commenced in April 2023
- The program will consist of up to 6000 metres of drilling in two separate phases to be carried out through the Spring and early Summer. (See news release April 11, 2023)
- Equity identified bonanza grade silver from early drilling
Initial drilling targeted extensions of the Camp and Sveinson targets and returned:
- A shallow 1.2-metre interval grading one gram per tonne gold, 42 g/t silver, 1.3% lead and 7% zinc (5.6 g/t gold equivalent or 460 g/t silver equivalent) within a 2.6-metre interval averaging 0.6 g/t Au, 30 g/t Ag, 1.1% Pb and 4.3% Zn (3.6 g/t AuEq or 291 g/t AgEq) from drill hole SQ22-079;
- A deeper 0.3-metre interval (estimated true thickness (TT)) grading 0.1 g/t Au, 1,462 g/t Ag, 2.8% Pb and 0.7% Zn (19.3 g/t AuEq or 1,581 g/t AgEq) within a 2.1-metre interval averaging 0.1 g/t Au, 308 g/t Ag, 1.3% Pb and 2.2% Zn (5.5 g/t AuEq or 446 g/t AgEq) from drill hole SQ22-079.
Drill hole SQ23-079 tested a down-dip step-out from the previously reported mineralization in drill hole SQ22-078 (see in NR-10-22; Sept 8, 2022), confirmed the vertical projection of the previously reported mineralization from this hole and identified an unrecognized shallow vein located approximately 100 metres north of the initial targets.
Nine holes totalling 4,038 metres have been completed in this phase of work. Drilling will now pause for several weeks while surface work continues on the property and will resume in mid-June to test the George and Cole Lake vein targets which have been historically drill tested but never incorporated into the NI 43-101 Mineral Resource Estimate for the property.
This new drilling confirms the continued extension of high-grade silver mineralization and the identification of a new vein in the Camp Target. In addition, Equity Metals has encountered encouraging visuals from offset drilling along the Sveinson Target. Multiple veins remain to be tested on the property and that process will start again with the next phase of drilling scheduled to begin in early summer. (See news release May 17, 2023)
Management and Directors
Lawrence Page, LLB, KC, Chairman & Director
Director/officer of several public prominent exploration and mining companies
Major Projects and Mines involvement: Penasquito, Mexico; Hemlo and Eskay Creek, Canada
Joseph A. Kizis Jr., MSc., P.Geo., President & Director
President, Director, Bravada Gold Corporation
40 years experience in exploration for gold, silver, copper, molybdenum, lead and zinc in BC and abroad
Major Projects involvement: Wind Mountain, NV; Buffalo Valley, NV; Mount Hope, NV; Homestake Ridge, BC
Robert W.J. Macdonald, MSc., P.Geo., Vice President of Exploration
VP Geological Services, Manex Resource Group
Major Projects involvement: Cerro Las Minitas, Mx; Homestake Ridge, BC
Killian Ruby, CPA, CA, BSc. (Acc), Chief Financial Officer & Director
President and CEO of Malaspina Consultants & Manex Resource Group
Assurance Partner at Wolrige Mahon LLP
Served as Senior Manager of KPMG LLP
Arie Page, LLB, Corporate Secretary
Corporate Secretary for several public resource companies including Southern Silver Exploration Corp.
Courtney Shearer, B.Sc. (Eng.), MBA, CPA, CMA, Director
Served as Director and Consultant, San Gold Corporation
John Kerr, BASc., P.Eng., Director
50 years experience in discovery and development of significant mineral deposits in North America
Major Projects involvement: Santa Fe, NV; Calvada, NV; Mindora, NV; Ming Mine, NL; Rambler East, NL; Frasergold Deposit, BC
On May 15, 2024, Equity Metals Corp. proposes to undertake a non-brokered flow-through private placement consisting of 10.5 million charity/premium flow-through units (FT) at 29.5 cents for gross proceeds of $3,097,500. Each FT unit will comprise one flow-through common share and one-half of one non-flow-through warrant. Each whole warrant entitles the holder thereof to purchase one non-flow-through common share for a period of three years at a price of 29.5 cents.
The proceeds received from the sale of the FT units will be focused on the initial delineation of two new targets located to the northeast of, and not included in, the earlier 2022 updated mineral resource estimate on the Silver Queen gold/silver project in British Columbia. A 6,000-plus-metre drill program is currently under way and these additional funds allow for drilling to continue well into summer on the Cole and George Lake veins systems, which have been partially tested by historical and Equity drilling. In the current program, three core holes have been completed on the George Lake target, and samples from two of these holes have been submitted for analyses. Assays are pending and are anticipated over the coming weeks.
On April 29, 2024, Equity Metals Corp.'s crews have mobilized in preparation for the 2024 exploration season on its 100-per-cent-owned Silver Queen Ag-Au (gold-silver) project, located in central British Columbia.
Up to 6,500 metres of drilling are planned in this first phase of work, which will focus on the George Lake vein system (Figures 1). The George Lake veins were initially identified in limited historical drilling and were only partially tested by Equity's drilling in 2023. The veins remain open for expansion and will be tested along a potential 600 metre strike-length and up to 400m depth in the upcoming drill program.
The company has also prioritized several new targets to be further developed during 2024 in preparation for drilling, including a newly identified polymetallic soil anomaly located north of the Camp Deposit. Drilling will commence in early May and will continue into late June/early July.
On January 29, 2024, The following incumbent directors were re-elected at Equity Metals Corp.'s annual general meeting held on Jan. 25, 2024: Joseph A. Kizis, Lawrence Page, Killian Ruby, Courtney Shearer and John Kerr. In addition, the shareholders reappointed Davidson & Company LLP, chartered accountants, as auditor of Equity Metals and approved the company's rolling incentive stock option plan, pursuant to which a maximum of 10 per cent of the issued shares will be reserved for issuance under the plan. The plan is subject to TSX Venture Exchange acceptance.
The following officers were reappointed subsequent to the annual general meeting: Mr. Kizis as president, Mr. Page as chairman, Robert Macdonald as vice-president of exploration, Jay Oness as vice-president of corporate development, Mr. Ruby as chief financial officer and Arie Page as corporate secretary.
On January 15, 2024, Equity Metals Corp. has released assays from the final six holes on the Cole Lake target and a single hole from the Camp target, which were completed as part of the company's fall 2023 core drilling program on its 100-per-cent-owned Silver Queen gold-silver (Au-Ag) project, British Columbia.
Assay results from the Cole Lake drilling returned multiple intercepts of strongly enriched precious and base metals, including:A 0.3 metre (est. TT) interval grading 0.9/t Au, 102g/t Ag, 0.2% Cu, 0.7% Pb and 17.5% Zn (11.3g/t AuEq or 921g/t AgEq) within a 2.5 metre (est. TT) interval averaging 0.3g/t Au, 50g/t Ag, 0.1% Cu, 0.5% Pb and 3.2% Zn (2.7g/t AuEq or 220/t AgEq) from the Cole Vein in drillhole SQ23-099;A 0.6 metre (est TT) interval grading 0.9g/t Au, 51g/t Ag, 0.3% Cu, 0.5% Pb and 8.5% Zn (6.3 AuEq or 514g/t AgEq) from the Cole Vein in drillhole SQ23-100; andA 1.0 metre (est. TT) interval averaging 1.1g/t Au, 177g/t Ag, 1.1% Cu, 0.5% Pb and 1.2% Zn (5.6g/t AuEq or 454g/t AgEq) within a 2.6 metre (est. TT) interval averaging 0.5g/t Au, 80g/t Ag, 0.7% Cu, 0.2% Pb and 0.5% Zn (2.7g/t AuEq or 223g/t AgEq) from a footwall vein of the Cole Vein in drillhole SQ23-103.
These highlights are from the final six of nine core holes that tested the Cole Lake Vein system (Figure 1). Drilling included a second vertical fan of three holes that tested the NW-SE-trending Cole Vein approximately 200 metres to the southeast of Equity's earlier reported drilling on the target (see NR-18-23; dated December 13, 2023) and two holes that tested the NNW-SSE-trending Cole Shear. A sixth hole tested a 50m step-out to the northwest of Equity's earlier drilling on the Cole Vein (Figure 2).
On January 04, 2024, Equity Metals Corp. has granted incentive stock options to directors, officers and consultants to purchase 3.65 million common shares of the company at an exercise price of 12 cents per share, exercisable for a period of five years. The stock options are subject to the terms and conditions of Equity Metals' stock option plan and the policies of the TSX Venture Exchange.
On December 22, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Dec. 20, 2023.
Number of shares: 8.5 million flow-through shares
Purchase price: 19 cents per flow-through share
Warrants: 8.5 million share purchase warrants to purchase 8.5 million shares
Warrant exercise price: 18 cents for a five-year period from the date of issuance
Number of placees: seven placees
Total pro group involvement: 203,343 (one pro group)
On December 20, 2023, Equity Metals Corp. has closed a non-brokered flow-through private placement by issuing 8.5 million premium flow-through units at a price of 19 cents per unit for gross proceeds of $1,615,000. Each Unit consists of one flow-through common share and one share purchase warrant. Each warrant entitles the holder thereof to purchase one non-flow-through common share for a period of 5 years at a price of $0.18.
The gross proceeds received from the sale of Units will be used for the 2024 exploration program on the Silver Queen Ag-Au project in British Columbia, Canada.
On December 13, 2023, Equity Metals Corp. has released encouraging assays from the 100-per-cent-owned Silver Queen gold-silver project in British Columbia in its initial three holes from the fall 2023 core drilling program on the Cole Lake target.
These latest drill results at the Cole Lake target returned multiple intercepts of strongly enriched precious and base metals, including:
- A 1.0 metre (est. TT) interval averaging 1.0/t Au, 287g/t Ag, 0.3 per cent Cu, 0.5 per cent Pb and 4.0 per cent Zn (7.0g/t AuEq or 576g/t AgEq) within an 8.9 metre (est. TT) interval averaging 0.3g/t Au, 66g/t Ag, 0.1 per cent Cu, 0.3 per cent Pb and 1.2 per cent Zn (1.9g/t AuEq or 157g/t AgEq) from the Cole Vein in drillhole SQ23-095;
- A 1.9 metre (est. TT) interval averaging 0.2g/t Au, 325g/t Ag, 0.2 per cent Cu, 1.2 per cent Pb and 1.6 per cent Zn (5.7g/t AuEq or 467g/t AgEq) within a 3.8 metre (est. TT) interval averaging 0.2g/t Au, 212g/t Ag, 0.2 per cent Cu, 0.9 per cent Pb and 1.3 per cent Zn (4.0g/t AuEq or 328g/t AgEq) from the Cole Vein in drillhole SQ23-096; and
- A 0.7 metre (est TT) interval averaging 2.0g/t Au, 89g/t Ag, 0.2 per cent Cu, 7.9 per cent Pb and 17.2 per cent Zn (14.7 AuEq or 1206g/t AgEq) within a 2.4 metre (est. TT) interval averaging 0.9g/t Au, 33g/t Ag, 0.1 per cent Cu, 2.4 per cent Pb and 5.0 per cent Zn (4.8g/t AuEq or 391g/t AgEq) from a hangingwall vein in drillhole SQ23-097.
On November 28, 2023, Equity Metals Corp. has released encouraging assays from the final four holes from the George Lake target, tested during its summer 2023 core drilling program on the company's 100-per-cent-owned Silver Queen Ag-Au (silver-gold) project, located in central British Columbia. These new assays expand mineralization, adding to the first three holes from George Lake reported in NR-16-23, dated Oct. 4, 2023. Mineralization remains open laterally and at depth, and no mineralization from the George Lake target was included in Equity's most recently announced mineral resource update on the Silver Queen project.
These latest drill results at the George Lake target returned multiple intercepts of precious and base metals, including:
- A 0.9-metre (estimated true thickness (TT)) interval averaging 7.1 grams per tonne (g/t) Au, 56 g/t Ag, 0.2 per cent copper (Cu), 1.5 per cent lead (Pb) and 6 per cent zinc (Zn) (11.6 g/t gold equivalent (AuEq) or 946 g/t silver equivalent (AgEq)) within a three-metre (estimated TT) interval, averaging 2.5 g/t Au, 31 g/t Ag, 0.4 per cent Cu, 0.5 per cent Pb and 2.5 per cent Zn (4.8 g/t AuEq or 394 g/t AgEq) starting at 320.2 metres downhole from drill hole SQ23-093;
- A 0.9-metre (estimated TT) interval averaging 1.2 g/t Au, 98 g/t Ag, 0.1 per cent Cu, 2.6 per cent Pb and 17.7 per cent Zn (12.3 g/t AuEq or 1,002 g/t AgEq) within a 3.6-metre (estimated TT) interval, averaging 0.4 g/t Au, 32 g/t Ag, 1.1 per cent Pb and 5.6 per cent Zn (4.1 g/t AuEq or 333 g/t AgEq) starting at 322.2 metres downhole from drill hole SQ23-094; and
- A 0.5-metre (est TT) interval averaging 10.4 g/t Au, 115 g/t Ag, 0.6 per cent Cu, 0.9 per cent Pb and 1.4 per cent Zn (13.7 g/t AuEq or 1,118 g/t AgEq) starting at only 12.3 metres down hole in drill hole SQ23-094.
On October 04, 2023, Equity Metals Corp. has released encouraging assays from the first three holes of its summer 2023 core drilling program on the company's 100-per-cent-owned Silver Queen silver-gold project, located in central British Columbia. The new assays are Equity's first test of the George Lake target, which was last tested by both surface and underground drilling in the late 1980s.
Drilling at the George Lake target returned multiple intercepts of precious and base metals, including:
- A 0.3-metre (estimated true thickness (TT)) interval averaging 4.1 grams per tonne gold, 824 g/t silver, 0.7 per cent copper, 3.4 per cent lead and 18.4 per cent zinc (25.4 g/t gold equivalent or 2,076 g/t silver equivalent) within a 1.5-metre (estimated TT) interval grading 1.3 g/t Au, 226 g/t Ag, 1 per cent Cu, 1.7 per cent Pb and 6.6 per cent Zn (9.2 g/t AuEq or 755 g/t AgEq) from drill hole SQ23-090;
- A 0.2-metre (estimated TT) interval grading 0.5 g/t Au, 1,570 g/t Ag, 1.9 per cent Cu, 0.7 per cent Pb and 5.6 per cent Zn (25.3 g/t AuEq or 2,071 g/t AgEq) within a 1.4-metre (estimated TT) interval grading 1.2 g/t Au, 284 g/t Ag, 0.3 per cent Cu, 0.3 per cent Pb and 1.8 per cent Zn (6.1 g/t AuEq or 502 g/t AgEq) from drill hole SQ23-089.
On August 17, 2023, Equity Metals Corp. has closed its previously announced flow-through private placement by issuing a total of 6,263,112 flow-through units at a price of 13 cents per flow-through unit for gross proceeds of $814,204.56. Each FT Unit consists of one flow-through common share and one-half of one share purchase warrant, with each whole warrant entitling the holder thereof to purchase one non-flow-through common share for a period of 3 years at a price of $0.20.
The proceeds received from the sale of the FT Units will be used for work programs on the Company's Silver Queen, Au-Ag, exploration property, in British Columbia.
On August 09, 2023, Equity Metals Corp. has released final assays from its spring 2023 core drilling program on the company's 100-per-cent-owned Silver Queen silver-gold project, located in central British Columbia. The new assays extend new mineralization in several areas: the west side of the Camp deposit; a blind, hangingwall vein north of the main Camp veins; and a previously undrilled portion of the Sveinson deposit.
Sveinson deposit: drilling returned multiple gold and base metal-enriched intercepts including:
- A 1.5-metre (estimated true thickness (TT)) interval grading 1.5 grams per tonne gold, 89 g/t silver, 1.5 per cent lead and 16.2 per cent zinc (11.2 g/t gold equivalent or 914 g/t silver equivalent) within a 7.7-metre interval averaging 0.9 g/t Au, 57 g/t Ag, 1.4 per cent Pb and 6.5 per cent Zn (5.4 g/t AuEq or 445 g/t AgEq) from drill hole SQ23-086;
- A 2.2-metre (estimated TT) interval grading 0.9 g/t Au, 27 g/t Ag, 1.2 per cent Pb and 2.9 per cent Zn (3.1 g/t AuEq or 252 g/t AgEq) from drill hole SQ23-084.
These results are from two of four holes that tested a 200-metre drilling gap in the Sveinson deposit. Each of the four holes contains multiple intercepts, which help to build continuity to depths of up to 350 metres below surface in several veins initially identified in 2022 drilling.
Camp deposit: drill highlights include:
- A 0.7-metre (estimated TT) interval grading 742 g/t Ag, 0.7 per cent Pb and 0.6 per cent Zn (9.7 g/t AuEq or 790 g/t AgEq) from drill hole SQ23-082.
On August 04, 2023, Equity Metals Corp. is increasing the previously announced non-brokered private placement of securities and is now issuing up to a total of 6,263,112 flow-through units at a price of 13 cents per flow-through unit for gross proceeds of $814,204.56. Each FT Unit will be comprised of one flow-through common share and one-half of one non-flow-through warrant. Each whole warrant entitles the holder thereof to purchase one non-flow-through common share for a period of 3 years at a price of $0.20.
The proceeds received from the sale of the FT Units will be focused on the initial delineation of two new targets located to the northeast of, and not included in, the earlier 2022 updated Mineral Resource estimate on the Silver Queen, gold/silver project, in British Columbia. These additional funds allow for drilling to continue well into summer on the Cole and George Lake veins systems, which have been partially tested by historical drilling.
June 30, 2023, Equity Metals Corp. proposes to undertake a non-brokered private placement of securities to raise total gross proceeds of up to $550,000.
June 20, 2023, Equity Resumes Drill Program at the Silver Queen Project, BC
June 6, 2023, Equity Expands the Western Camp Vein with Intercepts Including 0.8 Metres of 1,952 g/t Ag, 0.1% Pb and 0.2% Zn (24.1 g/t AuEq or 1,971 g/t AgEq) Within a Wider Interval at the Silver Queen Project, BC
May 17, 2023, Equity Intersects High-Grade Silver, Including 0.3 Metres of 0.1g/t Au, 1,462 g/t Ag, 2.8% Pb and 0.7% Zn (19.3 g/t AuEq or 1,581g/t AgEq) in the Camp Target, Silver Queen Project, BC as Drilling Resumes on the Property