by Greg Klein | September 23, 2015
New anomalies, new land and new drilling mark the latest news from Equitas Resources’ (TSXV:EQT) Garland nickel-copper project in Labrador, the company announced September 23. Phase II geophysics revealed three additional anomalies, bringing the total so far to 12 and prompting Equitas to stake another 3,311 hectares of land. Drilling has now begun on the property, which the company believes is prospective for mineralization similar to Voisey’s Bay, 30 kilometres northwest. Equitas has Garland undergoing modern exploration techniques for the first time.
The three new conductive signatures result from interpretation of the VTEM data’s B-field Tau component, the company stated, adding that “Tau anomalies can reflect more conductive bodies with slowly decaying signal, typical of large massive sulphide bodies.”
With mapping and prospecting complete over all conductivity targets except the M anomaly, “no possible sources for the underlying conductivity have been identified in the outcrops examined to date,” Equitas noted. “This is not unexpected, considering the interpreted depths of the VTEM anomalies, significant overburden cover and the exploration model that considers favourable target rocks to be overlain by younger ferrodiorite and ferrogranite intrusions.”
At the C anomaly, the company explained, surveying found a “good quality east-west trending conductor” that helps validate the interpreted Southern Response Trend, described as a “multi-kilometre, east-west trending area of conductivity, magnetic and structural features straddling a large east-west offset of the Archean-Proterozoic suture, analogous in scale, morphology and setting to the Voisey’s Bay intrusive complex and related mineralization.”
The find inspired Equitas to stake additional ground to the west. Meanwhile interpretation of data over the large conductive signature at Q continues.
The program’s first drill hole tests anomaly D, part of a two-kilometre trend of variable conductivity that coincides with a nickel-copper-cobalt lake sediment anomaly and sits within an east-west structure of the Gardar-Voisey’s Bay Fault set.
“After initial slow start-up due to poor weather conditions, we are executing our plan to fully test the conductivity responses this year,” said VP of exploration and Voisey’s veteran Everett Makela. “The three additional anomalies at O, P and Q increase our odds for success, and we are adjusting the program to accommodate exploration of these targets. Recent interpretation of the multi-kilometre Southern Response Trend has led to a shift of exploration focus to this area.”
Last week the company closed the final tranche of a private placement totalling $2 million.