Equus Mining Limited (ASX: EQE) has uncovered outstanding high-grade gold and silver drill results following compilation and initial re-logging of historical drill data from a highly prospective zone titled Pegaso VII Target at its 100% owned Cerro Bayo Project in Chile.
This work has highlighted a series of high-priority drill targets along a vein corridor mapped over an approximate 450m width x 1.4km length, located 2.5km to the northeast of the Cerro Bayo processing plant.
Highlights
Pegaso VII Target – Historic Drill Results
- DGA009: ▪ 1.13m @ 166.06 g/t AuEq1 (95.51 g/t Au, 5291.05 g/t Ag) from 235.50m
- DGA012: ▪ 1.70m @ 35.46 g/t AuEq1 (13.76 g/t Au, 1627.61 g/t Ag) from 259.10m
- CRH-44: ▪ 1.48m @ 39.00 g/t AuEq1 (5.55 g/t Au, 2508.95 g/t Ag) from 36.37m
- DGA010: ▪ 1.00m @ 39.44 g/t AuEq1 (20.86 g/t Au, 1393.46 g/t Ag) from 169.15m
- DGA019: ▪ 5.45m @ 5.13 g/t AuEq1 (4.53 g/t Au, 45.09 g/t Ag) from 322.30m
- DGA029: ▪ 1.45m @ 9.41 g/t AuEq1 (2.04 g/t Au, 552.96 g/t Ag) from 127.00m
Follow up drilling
Planned follow-up drilling totalling 2,500m will test the geometry and continuity of high-grade mineralisation over a vertical interval of +250m, both along strike and at depth, throughout a +400m long portion of the Pegaso VII vein corridor. In parallel, given that a large proportion (approximately 75%) of the historical drill core was not analysed, and recent re-logging has defined significant unsampled drill core intervals hosting veining, a detailed programme of historic drill core sampling is in process.
“Follow up of the very high-grade historic drill results of the large, under-explored Pegaso VII target provides an exciting addition to the company’s pipeline of high impact exploration targets, which include the nearby large scale Appaloosa Vein Breccia and Pegaso I-VI structures,” Chief Operating Officer, Damien Koerber, said.
“Importantly for the Pegaso VII Target, high grade drill results from historic, relatively wide spaced drilling extend over a deep vertical interval of up to 250m, many of which remain open laterally and at depth.
“Furthermore, re- logging of drill core has defined significant intervals hosting veining which weren’t sampled historically, which, subsequent to assaying, may define wider zones of mineralisation than are currently understood.”
The Pegaso VII target is located 2.5km to the north-east of the Cerro Bayo plant infrastructure and sits one km in a subparallel north west trend from the partially exploited Coyita Mine (approximately 140kOz AuEq1 @ 6.6 g/t AuEq in mine production/remaining NI 43.101 resources).
