Equus Mining (ASX: EQE) has extended the strike length of its T7 target, part of the company’s Los Domos silver, lead, zinc and gold project in Chile.
The company identified visible mineralisation in several drill holes, which it claims extends the known strike length by 440m to 535m.
According to Equus, visible mineralised widths ranged in size from 2.80m to 26.35m and averaged 8.34m in size.
The more recent intercepts were confirmed using a handheld XRF device and observation. However, assays are pending.
Equus ran metallurgical tests on the same style of mineralisation in 2017 and achieved high recoveries of silver, lead, zinc and gold via a primary flotation circuit.
The company’s theory is the T7 Target contains similar mineralisation to that found at nearby San Jose and Cerro Morro deposits in the region.
T5, T8 and other targets
Equus is also exploring other targets across the project with the T5 target with drilling returning 1m grading 1.04 grams per tonne gold and 0.9m grading 93g/t silver within a 4.70m intersection that graded 0.35g/t gold, 19.8g/t silver, 200 parts per million lead and 376ppm zinc.
Meanwhile, surface mapping and sampling at the T8 target returned an average grade of 6.15g/t gold equivalent in the top 10 samples, which equates to 5.11g/t gold and 68g/t silver.
Equus plans to test both T5 and T8 by drilling at depth and along strike.
Assays remain outstanding for several targets including T1, T2, T7, T8 and T9. Equus has attributed this to busier than usual field season in Chile which has resulted in “significant delays” to companies securing results.
Los Domos project
Equus is earning a 100% interest in Los Domos under a staged agreement with the vendor Terrane Minerals SpA. Equus has completed 1,000m drilling, which locks-in a controlling 51% stake.
Equus now has a two-year period to buy the remaining 49% slice by issuing the Terrane A$450,000 worth of Equus shares at A$0.012 each.
The project is near the Cerro Bayo gold-silver mine that, until recently, was producing about 2 million ounces per annum of silver and 20,000oz of gold a year.
By mid-afternoon trade, Equus’ share price was up almost 7% to A$0.031.