An emerging potential gold and silver producer

located within a world class epithermal silver-gold district in southern Chile

Equus Mining Limited (ASX:EQE)

Equus Mining is an ASX-listed gold and silver explorer with its core focus on the historical high-grade gold-silver producing Cerro Bayo mining district in southern Chile, which features historical production of 650koz Au, 45Moz Ag at average grades of 5.42 g/t AuEq1 (2.81 g/t Au, 196 g/t Ag). This district is located within the globally significant, high-grade epithermal gold-silver Deseado Massif province that hosts seven producing mines with combined past production and remaining resources of approximately 30Moz gold equivalent.

In December 2021, the Company acquired 100% ownership over the Cerro Bayo Project from Mandalay Resources. This includes ownership of a 0.5Mt/year flotation plant which is currently under care and maintenance, related processing infrastructure and a 280km2 mining claim package. This transaction marks an important milestone in Equus’ vision to become a potential near term significant producer, within what the Company views as a district that hosts compelling potential for discovery of significant additional high grade gold-silver resources.

In December 2020 the Company has reported an Inferred Mineral Resource estimate of 302,000oz AuEq @ 2.5 g/t AuEq2 peripheral to the historic Taitao Pit, located between 200m to 1,200m of the operational 0.5Mtpa flotation plant.

Recently the Company announced standout new drill intercepts from the margins and peripheral to the resource which comprise portions of a large newly interpreted, large scale exploration target beneath the historic 1.4km long Taitao Pit, including (refer to figure):

  • 4.14m @ 17.9 g/t AuEq1 (11.0 g/t Au, 520.0 g/t Ag) from 92.01m including
    2.64m @ 26.1 g/t AuEq1 (16.3 g/t Au, 736.1 g/t Ag) from 92.01m
  • 8.76m @ 8.05 g/t AuEq1 (4.9 g/t Au, 237.4 g/t Ag) from 70.44m
  • 4.89m @ 8.5 g/t AuEq1 (4.31 g/t Au, 313.9 g/t Ag) from 101.57m
  • 7.44m @ 5.68 g/t AuEq1 (4.59 g/t Au, 81.57 g/t Ag) from 117.46m

Gold Equivalent (AuEq) is based on the formula AuEq g/t = Au g/t + (Ag g/t / 75). 
2 ASX Announcement – 22nd Dec 2020 Maiden Inferred Resource Estimate at Cerro Bayo 

Section view showing a summary of Equus and historic drill results, interpreted mineralisation and exploration targets along and at intersections of low and high angle splays along the Appaloosa Fault and Pegaso I-II zones (west to east).