Major highlights include:
Initial assay results identify eight intersections of 1.16 g/t Au or greater;
Two high-grade intervals of 24.26 g/t Au over 2m, and 18.86 g/t Au over 2m;
A broader separate near-surface interval of 12m @ 1.42 g/t Au;
The exploration program is being extended with diamond drilling, auger drilling and trenching to further delineate and expand on the intersections achieved to date;
To date 733 of 757 trench assays have been received, and all drill core results are still outstanding.
Chris Harris, President and CEO of Equitas, said “We are very encouraged by the strong trenching results from the Baldo area, with results ranging from 1.16 g/t Au up to 24.26 g/t Au. This provides good support for the Company’s focus on fast track gold production and potential for further upgrading of the resource.
"The team has completed the initial exploration programme on time, and on budget, and with these exciting results we have decided to extend our drilling programme. We are well positioned for further news with all of our drilling results yet to come in.”
The exploration program announced on May 26th has been completed on time and within budget. Work completed includes 31 HQ diamond drill holes totaling 1585m, and 1680m of trenching in nine trenches, conducted over the current area of focus within the Baldo Zone of the Cajueiro Project.
To date 733 gold assays have been received out of a total of 757 trench samples, standards, blanks and duplicates currently submitted. As well all assays from the diamond drilling are pending.
The trenching program targeted gold mineralization in near-surface saprolite, the oxidized equivalent of hydrothermally altered bedrock structures hosting gold mineralization with associated pyrite and quartz veining. Assays received to date, for trenches TCBL_0001 to 0005 inclusive, a portion of TCBL_0006, and TCBL_0008, have identified eight discrete intervals of interest.
Observations of the high grade areas in trenches TCBL_0003 and TCBL_0004 indicate that this mineralization and associated alteration may have been focused by a combination of NE and EW deformation events. Further delineation of the high-grade intervals is in progress with diamond drilling, auger drilling and trench sampling.
Final results and an updated structural interpretation will be announced when completed. It is anticipated that a follow-up program of resource definition and further exploration will commence once all results have been received and incorporated into the model.
Commenting on the program results to date, VP Exploration Everett Makela states “Results so far have confirmed our expectation that the oxidized saprolite component of the bedrock mineralization at Baldo is host to significant gold concentrations.
"All eight of the intersections achieved to date are worthy of follow-up, as the saprolite can be directly excavated on surface and trucked to a processing plant, without the need for drilling and blasting. The high grade intervals in trenches TCBL_0003 and TCBL_0004 appear to represent a corresponding increase in structural complexity that adds an exciting new element to the Baldo environment. I would also emphasize that a majority of the assay results have yet to be received, so there is considerable new information still to come from this exploration program.”
Additional Targets at Baldo
Previous mapping and surface sampling has revealed the Baldo area as host to widespread gold mineralization in the saprolite. To date three additional target signatures similar to the current focus area have been identified. Targets will be reviewed in detail and ranked in preparation for upcoming exploration programs.
