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, and related processing infrastructure centred within a 285km2 mining claim package. The transaction uniquely positions the Company amongst its exploration peers, allowing it to leverage a fully permitted plant and tailings dam, a significant existing resource base, compelling exploration results and a large, highly prospective land package in the Deseado Massif which is considered one of the premier epithermal gold-silver mining provinces globally.
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 the large newly interpreted, large scale Appaloosa Breccia exploration target beneath the historic 1.4km long Taitao Pit, for which results include3 (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
1 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
3 9th May 2023 Half Yearly Report and Accounts