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Equitas Resources Corp.
Summary
| Project: | Cajueiro | |
|---|---|---|
| Deposit: | Crente | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 10/13/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-10-2016: Equitas Resources Corp. announces an Exploration/Drilling Update report for its Crente deposit at the Cajueiro project. Drilling results incl. 31.0m @ 1.12g/t Au from 90.0m. Vancouver, British Columbia, October 13, 2016 - Equitas Resources Cor | |
| Resources: | ||
| CP/QP: | [Overall Report]: Everett Makela (Internal) | |
| ABSTRACT: | Vancouver, British Columbia, October 13, 2016 - Equitas Resources Corp. (“Equitas” or the “Company”) (TSXV: EQT) (US: EQTRF) (Frankfurt: T6UN) reports on drilling results at Crente and provides a progress update for the 100%-owned Cajueiro Gold Project (“Cajueiro”) in Central Brazil. After conclusion of the 2016 Baldo drilling program, two additional holes (CJO_094 and CJO_095) totaling 252m were drilled below the old Garimpo pit at Crente, to provide in-fill in the near-surface environment, and to test an interpretation that suggested a significant steeply dipping mineralized trend intersected by historic borehole CJO_019-10 (31m @ 2.37 g/t Au, including 9.4m @ 4.15 g/t Au). The intervals achieved are typical of the Crente environment, hosted within a broad sericite-chlorite-quartz alteration package, emplaced along a 040o striking, -70o SE dipping shear, with later brittle deformation interpreted as the trigger for the mineralizing events. Gold mineralization is associated with quartz veining, massive veinlets of pyrite and disseminated pyrite within the altered rhyolitic package. Of note is that both intersections host a “core” of Au enrichment compared to the surrounding mineralized envelope. Commenting on the results of the drilling, VP Exploration Everett Makela stated “Results of the drilling have not shown any conclusive evidence for a higher-grade structure separate from the current Crente model. Instead, the broad, near-surface intervals of mineralization encountered in this round of drilling lend further support for the potential of Crente to represent a significant portion of the open-pit component at the Cajueiro Project.” | |
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