It could be a good idea for investors to take a closer look at Equity Metals Corporation (OTCMKTS:EQMEF) today after the company announced yesterday that it submitted a technical report that had been created as per the requirements of the Canadian Securities Administrators’ National Instrument.
On Friday, EQMEF stock surged 2.36% to $0.1232 with more than 316.55K shares, compared to its average volume of 159.21K shares. The stock moved within a range of $0.1117 – 0.1296 after opening trade at $0.1182.
Technical Report on Silver Queen Project Provides Significant Increase in Ag-Au-Zn Mineral Resources for Equity Metals Corporation
The report, titled “Technical Report and Updated Mineral Resource Estimate of the Silver Queen Property, Omineca Mining Division, British Columbia”, had been prepared by P&E Mining Corporation Inc, Metallurgical Process Consultants Ltd and Kirkham Geosystems Ltd . It was dated for January 16, 2023. It was a significant new announcement from the company and one that could bring the Equity Metals stock into focus among investors.
The latest Mineral Resource Estimate is an updated one and provides details with regards to the down-dip as well as lateral extensions at the modelled NG-3 and No 3 veins. It should be noted that those veins had actually been included in the original Mineral Resource Estimate that had been created back in 2019. The report provided by the company is in line with the press release titled “Equity Metals Announces a Significant Increase to the Mineral Resource Estimate at the Silver Queen Project, BC” from the company back on December 1, 2022.
President Joe Kizis comments, “At the time we assumed management of the Company in Q3 of 2019, we felt there were clear opportunities to quickly add significantly to the 2019 MRE at Silver Queen, and we are proud to report our success at a very low cost of $0.15/oz of added AgEq or $11/oz of added AuEq. The MRE remains open for additional delineation west of the Camp Resource and within the Sveinson Resource. In addition, there are several targets that have only been tested by a few drill holes and remain very attractive areas for new discoveries and MRE increase.”