Equitas Resources Announces Three Jays 2013 Field Program Results for Nahmint Copper-Gold Property Near Port Alberni, BC
December 03 2013 - 8:00AM
Marketwired
Equitas Resources Announces Three Jays 2013 Field Program Results
for Nahmint Copper-Gold Property Near Port Alberni, BC
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 3, 2013) -
Equitas Resources Corp. (TSX-VENTURE:EQT) ("Equitas") is pleased to
announce the receipt and preliminary evaluation of geochemistry
results and geological mapping from the Three Jays Area 2013 Field
Program completed in October of 2013.
Jay Roberge, President & CEO of Equitas Resources Corp.
states, "We are very pleased with the conclusions of this
preliminary evaluation on the Three Jays Area which has added four
new, non-outcropping targets to three previously known and exposed
targets in the immediate area. The Three Jays Area is a priority
area for exploration drilling for the Nahmint Project in 2014. This
preliminary evaluation will now be integrated into a updated NI
43-101 report for the Nahmint Project to be filed upon
completion."
GPS-controlled 'B' horizon soil sampling was completed at 50 m
intervals and 100m line spacing, concurrently with geological
mapping, rock and stream moss mat sampling over the 2 km x 1 km
area of Three Jays North Grid.
Final geochemistry results were received on November 14-15, 2013
for the 6 stream moss mat, 303 soil and 35 rock samples taken
during the October 2013 field program at the Three Jays North Grid
on the Nahmint Property. All samples were received, prepared and
analyzed by AGAT Laboratories, using their industry standard sample
preparation methods for stream sediments, soils or rocks at AGAT's
Burnaby laboratory; and the 48 metal package by 4 acid digestion
and ICP/ICPMS finish, and the trace gold by Fire Assay/ICP finish
at their Mississauga laboratory. Geochemistry results from the 2013
program for target and indicator elements are statistically
summarized as follows:
Media (#) |
Moss (6) |
Soil (303) |
Rock (35) |
Element |
Mean |
Maximum |
Minimum |
Mean |
Maximum |
Minimum |
Mean |
Maximum |
Minimum |
Au ppb |
21 |
42 |
7 |
14.2 |
497 |
<1 |
6.7 |
58 |
<1 |
Cu ppm |
78.2 |
98.3 |
46.6 |
47.8 |
397 |
3.7 |
198 |
840 |
2.1 |
Mo ppm |
1.54 |
2.12 |
0.94 |
2.3 |
145 |
0.42 |
0.57 |
1.06 |
0.26 |
Co ppm |
38.2 |
64 |
11.5 |
10.8 |
106 |
0.89 |
35.9 |
55.4 |
0.64 |
Ni ppm |
53.2 |
90.5 |
28.4 |
19.9 |
498 |
1.1 |
81.6 |
151 |
0.8 |
Pb ppm |
11.9 |
16.1 |
8.0 |
8.4 |
27.8 |
2.5 |
2.4 |
7 |
0.7 |
Cd ppm |
4.6 |
13.8 |
0.35 |
0.19 |
8.37 |
0.02 |
0.12 |
0.71 |
0.04 |
Zn ppm |
136 |
225 |
60.1 |
45.4 |
752 |
13.6 |
76.3 |
161 |
4.4 |
As ppm |
36.1 |
127 |
4.9 |
21.6 |
754 |
0.5 |
2.4 |
7.5 |
0.6 |
Bi ppm |
0.09 |
0.13 |
0.08 |
0.18 |
0.67 |
0.04 |
0.4 |
0.29 |
<0.01 |
Te ppm |
0.04 |
0.07 |
0.03 |
0.10 |
3.65 |
<0.01 |
0.4 |
0.17 |
<0.01 |
At the Three Jays North Grid, geological mapping has identified
an elongate, 1.75 km x 250 m. flat-lying basin of Quatsino
limestone along the centre of the grid, overlying Karmutsen mafic
volcanics, intruded by steep, narrow felsic intrusive dykes, and
cut by block faulting.
Geochemistry data in the Three Jays Area from multiple soil
grids completed during different field programs since 2008 has been
merged and displays interesting areas and trends of elevated values
for target and indicator elements, with seven (7) potential target
areas identified and summarized as follows:
- JJJ Mine Target - centered at 362300E 543900N 550 m el. - This
350 m.diameter circular polymetallic soil anomaly has co-incident
elevated values in Au, Cu, Mo, Ni, Pb, Cd and As. It is centered
over the workings of the former Three Jays Mine, and therefore may
in part result from contamination by dispersion of mineralized rock
from the mine workings. The target is situated along the northeast
side of a steep canyon, probably representing a major fault. The
Three Jays Mine area has not been mapped using modern geological
and lithological terminology. Rock samples (11) taken from this
target area, mostly float or subcrop fragments taken from the old
mine dumps, have yielded highly elevated values up to 450 ppb Au,
152500 ppm (15.25%) Cu, 143 ppm Mo, 435 ppm Co, 115 ppm Ni, 58 ppm
Pb, 60 ppm Cd, 3360 ppm Zn, 615 ppm As, 37 ppm Bi, 36 ppm antimony
(Sb) and 5.3 ppm Te. This target area may extend northeast,
northwest and/or southwest to the subsequent three target areas,
respectively.
- JJJ NE Target - centered at 362500E 5434300 600 m el. - This
500 m by 200 m polymetallic soil anomaly is elongated in a NE-SW
orientation, and has co-incident elevated values in Au, Cu, Mo, Co,
Ni, Cd and As. It is centered 500 m northeast of the Three Jays
Mine, and follows contours along the east flank of a broad knoll. A
soil sample from this target yielded elevated highly elevated
values of 118 ppb Au, 148 ppm Cu, 145 ppm Mo, 754 ppm As, 752 ppm
Zn, 498 ppm Ni, 2.11 ppm Cd and 3.65 ppm Te. This target area was
mapped during the 2013 field program, and is underlain by the
block-faulted contact between Karmutsen mafic volcanics and a small
Quatsino limestone basin, both cut by a NE-trending felsic
intrusive dike. This target may be controlled by stratigraphic
and/or intrusive contacts. Rock samples (6) taken from this target
area yielded only slightly elevated values up to 304 ppm Cu, 6.3
ppm Pb, 88 ppm Ni, 44 ppm Co and 7.5 ppm Sb. Therefore, the source
of this soil geochemical anomaly is unexplained, unless it
represents an extension to the NE of the mineralization at the
Three Jays Mine.
- JJJ SW - centered at 362100E 5433650N 550 m el. - This 200 m
diameter circular polymetallic soil anomaly has co-incident
elevated values in Au and Cd only. It is centered only 250 m.SW of
the Three Jays Mine, across the steep (fault?) canyon, and along
the old trail from the Alberni Inlet to the upper mine workings.
This target was documented by previous workers, but has not been
mapped using modern geological and lithological terminology. Rock
samples (2) taken from this target area were only analyzed for Au,
silver (Ag) and Cu, but yielded highly elevated values up to 280
ppb Au, 58.9 ppm Ag and 150100 ppm (15.01%) Cu. This soil
geochemical anomaly may represent an extension to the SW of the
mineralization at the Three Jays Mine.
- JJJ NW - centered at 361800E 5434300N 750 m el. - This 400 m by
200 m polymetallic soil anomaly has co-incident elevated values in
Ni and As, flanked by elevated values in Co to the NW and SE, and
in Cu to the SE. The target is situated along the northeast side of
the same steep canyon as the Three Jays Mine, and 600 m. NW of the
Three Jays Mine. This target area was mapped during the 2013 field
program, is underlain by a small Quatsino limestone basin covered
with karst topography, and may be controlled by stratigraphy. Rock
samples (3) taken from this target area yielded only slightly
elevated values up to 434 ppm Cu, 128 ppm Ni and 42 ppm Co. This
soil geochemical anomaly may represent an extension to the NW of
the mineralization at the Three Jays Mine.
- Beach - centered at 363400E 5433500N 100-300 m el. - This 750 m
by 350 m polymetallic soil anomaly has a core zone of elevated Mo
values, flanked by elevated values of Cu and Co to the north and by
elevated values of Cu, Ni and Cd to the south. The target is
centred 1 km. SE of the Three Jays Mine downslope from the JJJ NE
Target, and was documented as an exploration target by the workers
at the Three Jays Mine over 75 years ago. This area has not been
mapped using modern geological and lithological terminology. Rock
samples (6) taken from this target area yielded elevated highly
elevated values up to 475 ppb Au, 61.8 ppm Ag, 210200 (20.02%) Cu,
186 ppm Co and 430 ppm As. This area may be open to the NW towards
the proposed Three Jays East Grid.
- Danylon - centered at 361400E 5434800N 700 m el. - This E-W
elongated 1 km x 300 m. polymetallic soil anomaly has a small core
of elevated Cu values, flanked by elevated Au values, and three
small areas with elevated values, two with Pb and one with Co. A
soil sample from this target yielded a highly elevated value of 497
ppb Au. The target follows the northern (downslope) side of the
upper portion of the Danylon Road, and therefore may be in part
result from contamination by dispersion of mineralized rock from
blasted outcrops. This target area was mapped during the 2013 field
program, and is underlain mainly by Karmutsen mafic volcanics, a
small area of Quatsino limestone in the west, and is cut by a
NE-trending felsic intrusive dike, and occasional, thin,
quartz-calcite-sulphide stockwork veins. The target is situated
along the northeast side of the same steep canyon as, and 1.5 km
northwest of, the Three Jays Mine. Rock samples (8) taken from this
target area yielded slightly elevated values up to 58 ppb Au, 840
ppm Cu and 132 ppm Ni. The target may be open to the west, and to
the north. Weakly mineralized mafic volcanics sampled in outcrop
and float within this target area do not adequately explain this
soil anomaly.
- Ridge - centered at 361000E 5434300N 850 m el - This arc-shaped
600 m x 500 m polymetallic soil anomaly is dominated by a Pb-only
elevated geochemistry values over its northern portion, flanked by
elevated values of Mo, Zn and As to the south. The target is draped
across the top of the highest ridge on the grid, and may be open to
the NW and to the SW. Rock samples (7) taken from this target area
yielded only slightly elevated values up to 348 ppm Cu, 134 ppm Ni,
5.1 ppm Pb, 161 ppm Zn, 0.29 ppm Bi and 2.59 ppm Antimony (Sb).
Weakly mineralized mafic volcanics sampled in outcrop within this
target area do not adequately explain this soil anomaly.
To summarize, the 2013 field program at the Three Jays Area of
the Nahmint Property has established 4 new, non-outcropping target
areas (JJJNE, JJJNW, Danylon and Ridge) to complement the 3
previously known and exposed target areas (JJJ Mine, JJJSW and
Beach) in the immediate area. The combined GPS-controlled
grid-based soil geochemistry and geological mapping program was
very useful in establishing the 4 new target areas. The Three Jays
Area of the Nahmint Property represents one of seven geophysical
target areas identified by the 2012 aeromagnetic survey completed
over the property, and the first of the seven targets with
geological mapping and soil geochemistry completed.
Follow up work at the Three Jays area planned for 2014 includes
construction of exploration trails, mechanized trenching and
diamond drilling, for which a permit for 25,000m of diamond
drilling, has been received from the BC Ministry of Energy and
Mines, pending posting of the required reclamation security.
Expansion of the soil geochemistry and geological mapping program
are also planned in the area. Follow up work for the rest of the
Nahmint Property includes additional grid-based soil geochemistry
and geological mapping over other geophysical targets, along with
property scale geological mapping.
The 2013 field program was supervised by Jacques Houle, P.Eng.,
who is also the qualified person as defined by NI43-101 for the
Company and the Property and has approved the contents of this news
release.
About Equitas Resources Corp.
Equitas Resources Corp. is a mineral exploration company that
specializes in acquiring, exploring and advancing mineral
properties. Equitas has a portfolio of base metal and precious
metal projects in British Columbia and the Northwest Territories.
For more information on the property portfolio and Equitas, please
visit www.equitasresources.com.
EQUITAS RESOURCES CORP.
On behalf of the Board
Jay Roberge, President/CEO/Director
Information set forth in this news release may involve
forward-looking statements under applicable securities laws.
Forward-looking statements are statements that relate to future,
not past, events. In this context, forward-looking statements often
address expected future business and financial performance, and
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"estimate", "expect", and "intend", statements that an action or
event "may", "might", "could", "should", or "will" be taken or
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this document include statements about the Property, the terms of
the Option Agreement, as amended, and Equitas' ability to meet its
obligations under the Option Agreement, as amended. By their
nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the following
risks: the need for additional financing for drilling, trenching,
and further exploration in 2014 as prescribed above; operational
risks associated with mineral exploration; fluctuations in
commodity prices; title matters; environmental liability claims and
insurance; reliance on key personnel; the potential for conflicts
of interest among certain officers, directors or promoters with
certain other projects; the absence of dividends; competition;
dilution; the volatility of our common share price and volume and
the additional risks identified in the management discussion and
analysis section of our interim and most recent annual financial
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certainty to forward-looking statements.
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adequacy or accuracy of this release.
Equitas Resources Corp.Jay RobergePresident/CEO/Director+1 (604)
681-1568www.equitasresources.com
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