VANCOUVER, Sept. 23, 2015 /CNW/ - Equitas Resources
Corp. (TSXv: EQT) (FSE: T6UN) ("Equitas" or the "Company") is
pleased to provide an update for its Phase 2 program on the Garland
nickel-copper property in Labrador,
Canada. Due to initial results from current ground
geophysical work Equitas has acquired additional claims to the west
adjoining the Garland property. Twelve anomalies have now been
identified and the Company has commenced drilling.
The 2015 Phase 2 field program at the Garland project kicked off
on August 23rd, with field
crews arriving at the recently completed 25-person field camp near
the west end of Tasiuluk lake, at the northern end of the property.
Despite being hampered by poor weather conditions limiting
helicopter operations, significant progress has been made in the
evaluation of conductivity anomalies detected by the VTEM survey
flown in March.
Further interpretation from final processing of the B-field Tau
component of the VTEM data has resulted in three new conductive
signatures being identified at O, P and Q (see attached map). Tau
anomalies can reflect more conductive bodies with slowly decaying
signal, typical of large massive sulphide bodies.
Geological mapping and prospecting have been completed over all
of the conductivity target areas except anomaly M. No possible
sources for the underlying conductivity have been identified in the
outcrops examined to date. 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.
A total of 39 km of line-cutting has been completed over the
anomalies. Large Loop PEM surveying by Crone Geophysics has been
completed at anomalies A, B, C and Q. At anomalies A and B, the
response signatures have been explained by highly magnetic
lithologies coupled with low VTEM bird height, creating an apparent
conductivity anomaly termed Super Para-Magnetic effect (SPM). These
targets are of no further interest.
At anomaly C, surveying with Crone PEM resulted in the
definition of a good quality E-W trending conductor, flat-lying
with minimum core dimensions of 15m by 300m, occurring 70m below
surface. Definition of this response helps to validate the
interpreted Southern Response Trend (SRT, see attached map), an
multi-km E-W trending area of conductivity, magnetic and structural
features straddling a large E-W offset of the Archean-Proterozoic
suture, analogous in scale, morphology and setting to the Voisey's
Bay Intrusive Complex and related mineralization. This sparked the
recent staking of license 023365M, consisting of a 132 claim block
comprising 3,311 hectares, designed to cover the western extension
of the SRT. Interpretation of the PEM data over the large
conductive signature at Q is ongoing.
Springdale Forest Products have commenced drilling with borehole
GP15-001 (collar at 582975E, 622376N, NAD 27 – UTM Zone 20N, Az.
290, Dip -55). This NQ borehole is designed to test VTEM anomaly D,
part of 2 km trend of variable conductivity, coincident with a
Ni-Cu-Co lake sediment anomaly, and resident in an E-W structure of
the Gardar-Voisey's Bay Fault set. An update on drilling will be
made available once all results have been compiled and
interpreted.
Commenting on the results, VP Exploration Everett Makela stated,
"I am pleased with the progress of the Phase 2 campaign to date.
After initial slow start-up due to poor weather conditions, we are
executing our plan to fully test the conductivity responses this
year. 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-km
Southern Response Trend has led to a shift of exploration focus to
this area. We will continue to provide updates on results as they
become available".
NI 43-101 Disclosure
Everett
Makela, P. Geo., VP Exploration for Equitas Resources Corp.,
a Qualified Person as defined by National Instrument 43-101,
supervised the preparation of the technical information in this
news release.
About Equitas Resources Corp.
Equitas Resources is a
Canadian-based mineral exploration company with a focus on nickel,
copper, platinum group metals (PGM) and cobalt. The Companies
Garland Property is 23,386 hectares and located in the Voisey's Bay
district of Labrador, Canada.
On Behalf of the Board of Directors,
EQUITAS RESOURCES CORP.
"Kyler Hardy"
Kyler
Hardy
President
Tel: 604.681.1568
info@equitasresources.com
Neither TSX Venture Exchange nor it Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
Statements in this document
which are not purely historical are forward-looking statements,
including any statements regarding beliefs, plans, expectations or
intentions regarding the future. It is important to note that
actual outcomes and the Company's actual results could differ
materially from those in such forward-looking
statements. Risks and uncertainties include economic,
competitive, governmental, environmental and technological factors
that may affect the Company's operations, markets, products and
prices. Factors that could cause actual results to
differ materially include that we are unable to raise sufficient
interest in the financing; that we may not be able to raise
sufficient funds to complete our intended exploration and
development; and that despite encouraging data there may be no
commercially exploitable mineralization on our properties. Except
as required by law, we do not undertake to update these forward
looking statements.
SOURCE Equitas Resources Corp.