Equus Mining (ASX: EQE) has drilled its most “significant” intercept to-date at its Los Domos silver, lead, zinc and gold project in Chile.
The intersection was taken from the T7 target and measured 44m grading 5.37 grams per tonne gold equivalent or 8.54% lead equivalent. The intersection comprised three higher grade intervals including a 9.7m stretch grading 15.06g/t gold equivalent or 23.96% lead equivalent.
The other two intervals in the 44m intersection were 23.30m at 9.03g/t gold equivalent or 14.37% lead equivalent, and 12.95m at 12.6 g/t gold equivalent or 20.05% lead equivalent.
More notable drill results from the T7 target came from two other holes, which encountered 7.40m grading 5.36 g/t gold equivalent or 8.53% lead equivalent, including 2.35m at 14.54g/t gold equivalent or 23.14% lead equivalent, while the third hole featured 2.70m at 4.24 g/t gold equivalent or 6.75% lead equivalent.
“The broad dimensions of the mineralisation outlined to date at Los Domos is becoming increasingly analogous to a number of other well known, large epithermal deposits such as the La Blanca epithermal vein deposit (Palmarejo project, Mexico),” the company told the market today.
“Preliminary interpretations of metal zonation from the more recent results suggest that a gold-and-zinc-rich mineralisation phase is becoming increasingly [dominant] to the north-west and at depth along the T7 target structure in favourable, more competent lithologies.”
Equus reported the average weighted grade in its T7 drill holes was 5.39g/t gold equivalent.
Assays from six other T7 holes, including the recently completed 40th hole, are currently pending.
Drilling has now defined mineralisation over 600m strike at T7, with Equus stating the structure remains “open along strike in both directions, and particularly at depth and potentially down-plunge towards both the south-east and north-west”. The average width of the mineralisation is about 7.9m for the main intercepts.
Back in April, the company extended the known T7 strike length to 535m.
The Los Domos project also includes the T1, T2, T5, T8 and T9 targets, with Equus flagging some mineralisation at the Mexican site could be suited to “direct shipping”.
Equus, which has a market capitalisation of A$24.89 million today, is hoping to earn a 100% stake in Los Domos from Terrane Minerals SpA within two years.
Equus’ securities were up 3.03% to A$0.034 by late afternoon.