Equus Mining Limited announced standout gold and silver drill results from a newly defined high grade zone peripheral to the Taitao Pit. Importantly, this zone was previously interpreted as being part of a localised stockwork zone within the December 2020 Taitao Inferred Mineral Resource. This zone now forms a large potential exploration target extending from the margins of the existing Taitao Mineral Resource towards the Pegaso II and III Targets at the Cerro Bayo Project, Chile.
Partial results (approximately 25%) have been received from the 1st of 3 holes (CBD080- CBD082) completed to date on the central eastern margin of the Taitao Pit. The intercept in hole CBD082 represents an interpreted new, high grade vein-breccia hosted within a large scale, low angle easterly dipping fault, the surface expression of which broadly corresponds to the Taitao Pit. This fault is interpreted to extend down dip at depth towards the sub vertical dipping Pegaso II and III structures and presents a series of highly prospective additional targets below the current level of drilling. Assay results have been received for holes CBD058-CBD078 completed over the Pegaso II-V targets for which the principal high-grade results include: Pegaso II CBD061: 0.81m @ 3.81 g/t Au and 267 g/t Ag (7.37 g/t Au eq3) from 89.91m. CBD062: 0.92m @ 3.83 g/t Au and 257 g/t Ag (7.26 g/t Au eq3) from 87.62m; CBD063: 1.31m @ 3.51 g/t Au, 106.1 g/t Ag (4.92 g/t Au eq3) from 187.39m; CBD068: 0.75m @ 3.48 g/t Au, 257.0 g/t Ag (6.91 g/t Au eq3) from 153.05m; CBD070: 0.71m @ 1.1 g/t Au, 568 g/t Ag (8.66 g/t Au eq3) from 102.65m 0.89m @ 1.1 g/t Au and 291 g/t Ag (4.98 g/t Au eq3) from 145.0m 2.62m @ 1.8 g/t Au and 229 g/t Ag (4.89 g/t Au eq3) from 166.81m. Pegaso V: CBD064: 0.22m @ 12.55 g/t Au and 1790 g/t Ag (36.4 g/t Au eq3) from 27.14m. The Pegaso II target is one of eight brownfields targets (Pegaso II to IX) defined to date that extend along a series of major northwest trending faults, four of which (Pegaso II-V) extend along trend from 4 principal historic mines (Delia, Branca, Fabiola and Coyita). Collectively these mines comprise remaining resources/past production of approximately 560,000 oz Au eq3. In Pegaso II, drilling to date has confirmed the extension of high-grade mineralisation in the upper levels of four principal subparallel veins along a significant portion of the 1km long trend between the Delia NW Mine and the Taitao Pit. These results build on results from previously reported holes drilled including: CBD052: 1.66m @ 2.88 g/t Au and 152.25 g/t Ag (4.91 g/t Au eq3) from 189.02m; CBD056: 2.77m @ 1.09 g/t Au, 263.34 g/t Ag (4.6 g/t Au eq3) from 55.95m Results returned for 2 of 3 holes completed along the Pegaso III structure intersected wide intervals of brecciation and stockwork veining interpreted to be high level and returned results up to 0.2m @ 1.78 g/t Au and 172 g/t Ag (4.1 g/t Au eq3) from 29.36m in CBD058. Modelling of gold and silver grades of veins, vein geometries and rock types more favorable to host wider veining intersected in drilling indicate increasing potential for wider veining and increasing grades of veining at depth. Final assays remain pending for holes CBD076-CBD082 drilled on the Pegaso II, V, Taitao and Andaluz Targets.