- Equus Mining (EQE) has intersected up to 269g/t silver from the Pegaso II target at the Cerro Bayo Project in Chile
- Seven holes were drilled at the Pegaso II target with focus on a 500-metre central portion of the one-kilometre long target
- Pleasingly, up to 269g/t silver and 5.11g/t gold was intersected in the same hole
- Closer spaced drilling has been planned along Pegaso II to further test the mineralised trend
- Equus also drilled one hole beneath the NE Taitao Pit to validate its geological model below the mineral resource reporting pit
- Up to 292g/t silver and 18.33g/t gold was intersected
- Equus is up 9.09 per cent on the market and shares are trading at 1.2 cents
Equus Mining (EQE) has intersected up to 269g/t silver from the Pegaso II target at the Cerro Bayo Project in Chile.
Pegaso II
The company has received partial assay results for two of the seven holes drilled.
All up, 1858.65 metres of drilling was completed over a 500-metre long central portion of the one-kilometre long Pegaso II target.
Best results come from hole 52 with results of 1.53 metres at 1.35g/t gold and 189.14g/t silver from 96 metres including 0.25 metres at 1.6g/t gold and 269g/t silver from 96.47 metres.
Additionally, up to 5.11g/t gold was intersected in the same hole.
Drilling to date has confirmed the extension of high-grade mineralisation in multiple areas along a significant portion of the one-kilometre long target.
Closer spaced drilling has been planned along Pegaso II to further test the mineralised trend.
NE Taitao Pit
Equus also drilled one hole beneath the NE Taitao Pit to validate its geological model below the mineral resource reporting pit.
Best results include 0.4 metres at 18.33g/t gold and 292g/t silver from 77.27 metres, 0.77 metres at 5.15g/t gold and 68.03g/t silver from 257.17 metres and 0.20 metres at 3.18g/t gold and 133g/t silver from 166.24 metres.
“These highly encouraging results further confirm our view that the Pegaso Targets hold compelling potential to host further high-grade ore shoots along trend and extending between centres of significant historical production and near processing infrastructure,” CEO Damien Koerber said.
“Results from the historical drilling, coupled with these results, are increasing the potential for the Pegaso Targets to add significantly higher-grade underground mineral resources to our recently announced inferred mineral resource at Taitao,” he added.
Equus is up 9.09 per cent on the market and shares are trading at 1.2 cents at 2:27 pm AEST.