Equus Mining Limited ('Equus' or 'Company') (ASX: EQE) is pleased to announce high-grade gold and silver results from mapping and channel sampling throughout an important 5km x 8km vein structural corridor in the central portion of its 100% owned Cerro Bayo Project.
This work has highlighted numerous high-priority vein targets that remain untested by drilling throughout this corridor, which has produced approximately 615Koz AuEq 1,2 averaging 8 g/t AuEq1 from 6 mines during 2002-2008
Damien Koerber, Chief Operating Officer, Equus Mining Commented: 'During the temporary cessation of drilling activities at Cerro Bayo, the Company's focus on systematic field mapping and surface geochemical sampling has delivered some exciting new discoveries of high-grade gold-silver veins which have not been sampled nor drill tested to date by historic exploration. Additionally, further review and modelling of historical data has generated a series of highly prospective, underexplored drill targets including follow-up of very high-grade historic precious metal drill intersects, particularly for silver, at the Pegaso VII Target.
SURFACE CHANNEL SAMPLING RESULTS
Surface exploration including mapping and geochemical surface sawn channel and continuous rock chip sampling has been focused throughout a 5km x 8km vein corridor in the central portion of its 100% owned Cerro Bayo Project from which historic production during 2002-2008 from 6 mines totals approximately 615Koz AuEq 1,3 averaging 8 g/t AuEq1 . This work has highlighted numerous high-priority vein targets that remain untested by drilling throughout this corridor, some of which have not received any historic exploration including mapping or surface sampling
PEGASO VII TARGET- HISTORIC CORE RE-LOGGING AND SAMPLING RESULTS
As previously reported4 , the Pegaso VII target is located 2.5km to the north-east of the Cerro Bayo plant infrastructure and sits in a subparallel northwest trend 1km from the partially exploited Coyita Mine (approximately 140kOz AuEq1 @ 6.6 g/t AuEq1 in mine production/remaining NI 43.101 resources5 ). A total of 14,134.67m in 64 holes were drilled on the Pegaso VII target by previous operators, initiating in 2004 and for which the majority (>90%) was completed prior to 2013. A large proportion of historic drilling was concentrated in the southern 400m of a 450m wide x 1400m corridor throughout which high-grade mineralization was intersected along, north-south and northnorthwest trends over a vertical interval of +250m.
Detailed re-logging and sampling of unsampled historic drill core hosting stockwork veining and brecciation was conducted to support geological modeling of vein geometries and follow-up drill program design. This work comprised of 330 core samples from which 66 samples returned results > 0.2 g/t AuEq1 , including 14 samples > 0.5 g/t AuEq1 and 5 samples > 1 g/t AuEq1 with the highest value returned of 0.52m @ 5.34 g/t AuEq1 (4.72 g/t Au, 47 g/t Ag). From the above work, a high priority drill target corridor has been defined extending to the north and down dip of the highest grade DGA009 which remains open for at least 400m along a northwest to north northwest trending vein corridor that historic drilling did not effectively testReporting of Historic Results The above historical results include exploration and production results collected between approximately 2000-2016. The mining and exploration activity was undertaken up until approximately 2009 by Coeur d'Alene Mines Corporation (now Coeur Mining or 'Coeur') and Mandalay Resources from 2010 to 2016. As per ASX requirements, Equus notes that a minor portion of the drill results dating prior to 2005 are not reported in accordance with the National Instrument 43.101 or JORC Code 2012; a competent person has not done sufficient work to disclose the corresponding exploration results in accordance with the JORC Code 2012; it is possible that following further evaluation and/or exploration work that the confidence in the prior reported exploration results may be reduced when reported under the JORC Code 2012; that nothing has come to the attention of Equus that questions the accuracy or reliability of the former owner's exploration results, but Equus is in the process of independently validating the former owner's exploration results and therefore is not to be regarded as reporting, adopting or endorsing those results. The levels of gold and silver reported, from past drilling activity, is a key factor in guiding Equus's exploration strategy. The previous drilling activity, which produced these results, involved multiple diamond drill holes and check assaying, providing Equus with confidence that the results are reliable, relevant and an accurate representation of the available data and studies undertaken by previous exploration activity. Proposed verification work includes further drilling and resampling of historical drill core which Equus is currently undertaking.
Contact:
Tel: +61 400 852 245
Email: jbraham@equusmining.com
The information in this report that relates to Exploration Results for the Cerro Bayo Project is based on information compiled by Damien Koerber. Mr Koerber is a fulltime employee to the Company. Mr Koerber is a Member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Koerber has a beneficial interest as shareholder of Equus Mining Limited and consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
EQUUS MINING LIMITED 
