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Equus Mining Ltd.
Summary
| Project: | Los Domos | |
|---|---|---|
| Deposit: | T7 | |
| Location: | Chile | |
| Commodities: | Gold-Silver-Lead-Zinc | |
| Date: | 6/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-6-2018: Equus Mining Ltd. announces an Exploration/Drilling Update report for its T7 deposit at the Los Domos project. JV - Drilling results incl. 44.00m @ 1.02g/t Au, 65g/t Ag, 1.4% Pb, 2.95% Zn, 0.2% Cu from 130.75m. Equus Mining Limited (‘Equus’) (AS | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Damien Koerber (Internal) | |
| ABSTRACT: | Equus Mining Limited (‘Equus’) (ASX: EQE) is pleased to announce high-grade drill results from recent drilling at the T7 Target located at EQE’s Los Domos epithermal project. This includes drill hole LDD-035 which has returned the most significant intercept, with high grade assay results, of all holes drilled to date at Los Domos. The T7 Target structure hosts a polymetallic multiphase, Intermediate Sulphidation epithermal style of mineralisation with significant values of Au, Ag, Pb, Zn and, in more recent drill holes, Cu. Preliminary interpretations of metal zonation from the more recent results suggest that a Au and Zn rich mineralization phase is becoming increasingly dominate to the northwest and at depth along the T7 Target structure in favourable, more competent lithologies Equus Mining Limited (Equus, ASX: EQE) the rights to acquire 100% of the Los Domos gold-silver project located in the XI Region of Chile from Terrane Minerals SpA under a staged earn-in agreement. With the completion of an initial 1,000m drill programme Terrane is now to transfer the Los Domos project assets into a Joint Venture (JV) Company in which Equus will hold an initial 51% (previously the requirement was 2000m). Equus then has a two-year option period to buy the remaining 49% interest in the JV Company by issuing Terrane $450,000 worth of Ordinary Shares at an issue price of 1.2c The Los Domos gold-silver project is well located 15km south of the township of Chile Chico and adjacent to the Cerro Bayo gold-silver mine. See Figure 5. This mine was until recently producing approximately 2 Mozpa of silver and 20 Kozpa gold or approximately two thirds nominal flotation plant capacity of 500ktpa throughput, however production has been suspended indefinitely and force majeure declared following a mine flooding event in June 2017 (ix). With an altitude range of 800m | |
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