- Equus Mining (EQE) has received assays from drilling at the Pegaso targets and Droughtmaster prospect, which are part of the Cerro Bayo Project in Chile
- A 25-hole drilling program is being conducted at the five Pegaso targets, targeting extensions to historical high-grade results
- Pleasingly, initial results have confirmed the extension of high-grade mineralisation along strike
- Additionally, results from drilling at Droughtmaster have defined a 250-metre-long mineralised trend, which will be followed up with a 3000-metre program
- Company shares are down 3.33 per cent and trading at 1.5 cents
Equus Mining (EQE) has received the first batch of assay results from drilling at Pegaso II and III targets, which are part of the Cerro Bayo Project in Chile.
These targets represent two of five high-priority brownfield targets that span 3.5 kilometres.
The 25 -hole stage one drilling program is designed to target extensions to high-grade historical drill intercepts, are interpreted to extend individually over approximately one kilometre.
Assays have been received for one hole which intercepted multiple mineralised vein and breccia structures. This confirms the extension of high-grade mineralisation along strike.
The hole returned outstanding results, such as 2.05 metres at 6.61g/t gold and 44.2g/t silver from 9.1 metres including 0.25 metres at 46.8g/t gold, 287g/t silver from 10.9 metres, 0.35 metres at 3.44g/t gold and 75.6g/t silver from 81.5 metres, and 0.59 metres at 4.04g/t gold and 252g/t silver from 88.65 metres.
“These first results are an outstanding start to our inaugural drilling program at the Pegaso targets and serve to confirm our interpretation that compelling potential exists for high-grade ore shoots along major host structures which extend between centres of significant historical production,” Chief Operating Officer Damien Koerber said.
A further 22 holes are planned between now and June to test the most prospective portions of the Pegaso targets.
Additionally, Equus has received results from the last three holes drilled at the Droughtmaster prospect. This stage two program targeted multiple gold-silver mineralised vein structures.
Results include 0.62 metres at 17.28g/t gold and 271g/t silver from 73.5 metres, and 3.81 metres at 20.4g/t gold and 55.5g/t silver from 109 metres including 1.06 metres at 62.58g/t gold and 129.3g/t silver from 112 metres.
These results have defined a 250-metre-long mineralised trend that Equus will follow up with a 3000-metre drilling program.
Company shares are down 3.33 per cent and trading at 1.5 cents at 3:12 pm AEDT.