Wednesday 28th September 2016

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Phase I encourages Equitas Resources’ winter drill campaign southeast of Voisey’s Bay

by Greg Klein | December 16, 2015

Bolstered by geophysics and its first round of drilling, Equitas Resources TSXV:EQT looks forward to continuing its search for Voisey’s Bay-type mineralization. Results announced December 16 show three areas of focus on Garland, a 23,386-hectare property 30 kilometres from Labrador’s historic nickel-cobalt-copper discovery. With the rig still on site and money in the bank, Equitas plans to resume drilling as soon as winter conditions allow.

Phase I encourages Equitas Resources’ winter campaign southeast of Voisey’s Bay

With positive autumn results and funding in place,
Equitas Resources plans winter drilling at Garland.

The company took on the newly assembled property earlier this year, based partly on the fact that the great nickel deposits of Sudbury, Norilsk, Thompson and Raglan occur in clusters. But Equitas also saw specific merits in these claims, which hadn’t previously undergone modern exploration. Now assays and geophysics instil further confidence in the project, says president Kyler Hardy.

“We think this is the start of something larger,” he says. “We’ve touched on something very exciting that can lead us to the bigger picture.”

Among highlights of the five-hole, 1,678-metre fall program was GP15-005, where two intercepts showed:

  • 0.08% nickel, 0.1% copper, 70 ppm cobalt and 1.33% sulphur over 4.6 metres, starting at 19.9 metres in downhole depth

  • 0.11% nickel, 0.14% copper, 93 ppm cobalt and 1.77% sulphur over 1.5 metres, starting at 54.5 metres

The intervals occurred within 69 metres of disseminated sulphides in a hole that revealed “an environment favourable for massive sulphide deposition,” said VP of exploration and Voisey’s veteran Everett Makela. Historic surface sampling found up to 0.15% nickel and 0.1% copper. Equitas has the area slated for a Crone pulse electromagnetic (PEM) survey when work resumes.

A downhole PEM probe of GP15-004 found “a complex anomalous response that may indicate a significant good quality conductor near the hole, in the modelled depth range for buried Voisey’s Bay-type deposits,” the company reported. Possible problems with the data call for an additional PEM survey prior to drilling.

On the property’s northern area, consulting geophysicist Alan King interprets a major east-west lineament as “representing the southern margin of the graben structure hosting the Voisey’s Bay mine.” The Garland structure coincides with VTEM anomalies and a nickel-copper-cobalt lake sediment anomaly “comparable to the anomalies adjacent to the Voisey’s Bay mineralization,” the company stated.

Overall, the autumn results give Equitas “three solid exploration focus areas for the next program, anticipated to commence as soon as safe lake ice and optimal late winter conditions are present,” Makela said. “We are fully funded for the next phase and have the economic and logistical advantages of a camp and drill rig already at site.”

Read more about Equitas Resources.

See a three-part infographic about Voisey’s Bay.

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