Equity Metals receives first assays from Cole Lake target at Silver Queen in B.C.

The first drill hole assays are in from the Cole Lake target at the wholly owned Silver Queen project belonging to Equity Metals (TSXV: EQTY; otcqb: eqmef), and they show multiple intercepts of strongly enriched precious and base metals, says the company. The nine-hole program targeted the northwest-southeast-trending Cole vein and the north-northwest-south-southeast trend Cole shear in the Omineca mining Division, south of Houston, B.C.

Results of the first three holes with estimated true widths include:

• A 1-metre interval averaging 1.0 g/t gold, 287 g/t silver, 0.3% copper, 0.5% lead, and 4.0% zinc (7.0 g/t gold equivalent or 576 g/t silver equivalent) within an 8.9 metre interval averaging 0.3 g/t gold, 66 g/t silver, 0.1% copper, 0.3% lead, and 1.2% zinc (1.9 g/t gold equivalent or 157 g/t silver equivalent) from the Cole Vein in drillhole SQ23-095;
• A 1.9-metre interval averaging 0.2 g/t gold, 325 g/t silver, 0.2% copper, 1.2% lead, and 1.6% zinc (5.7 g/t gold equivalent or 467 g/t silver equivalent) within a 3.8-metre interval averaging 0.2 g/t gold, 212 g/t silver, 0.2% copper, 0.9% lead, and 1.3% zinc (4.0 g/t gold equivalent or 328 g/t silver equivalent) from the Cole Vein in drillhole SQ23-096; and
• A 0.7-metre interval averaging 2.0 g/t gold, 89 g/t silver, 0.2% copper, 7.9% lead, and 17.2% zinc (14.7 g/t gold equivalent or 1206 g/t silver equivalent) within a 2.4-metre interval averaging 0.9 g/t gold, 33 g/t silver, 0.1% copper, 2.4% lead, and 5.0% zinc (4.8 g/t gold equivalent or 391 g/t silver equivalent) from a hanging wall vein in drillhole SQ23-097.

These three holes form a vertical fan and confirm both the overall tenor and thickness in the main Cole vein to depth of about 250 metres, said Equity. The mineralization remains open at depth and laterally for which pending assays will provide further information.

VP exploration Rob Macdonald commented, "We are very pleased with the initial drill results from the Cole Lake target, which confirms both historical results from the mineralized zone and continues to highlight the further exploration potential, both laterally and to depth of not only the Cole vein itself, but also of several additional hanging wall structures.”

Mineralization from neither the Cole Lake target nor the George Lake target (which was also drilled) are included in the current Silver Queen resource estimate made in 2022. Those numbers include 62.8 million oz. silver equivalent in material grading 565 g/t silver equivalent, plus 22.5 million oz. silver equivalent in material grading 365 g/t silver equivalent.

More details are posted on www.EquityMetalsCorporation.com.