Equitas Resources Corp. : Equitas Resources Announces Three Jays 2013 Field Program Results for Nahmint Copper-Gold Property near Port Alberni, BC
December 3, 2013 - London
Equitas Resources Corp. /Equitas Resources Corp. : Equitas Resources Announces Three Jays 2013 Field Program Results for Nahmint Copper-Gold Property near Port Alberni, BC . Processed and transmitted by NASDAQ OMX Corporate Solutions.The issuer is solely responsible for the content of this announcement.
December 3rd, 2013 - Equitas Resources Corp. (TSX-V: EQT) ("Equitas") is pleased to announce the receipt and preliminary evaluation of geochemistry results and geological mapping from the Three Jays Area 2013 Field Program completed in October of 2013.
Jay Roberge, President & CEO of Equitas Resources Corp. states, "We are very pleased with the conclusions of this preliminary evaluation on the Three Jays Area which has added four new, non-outcropping targets to three previously known and exposed targets in the immediate area. The Three Jays Area is a priority area for exploration drilling for the Nahmint Project in 2014. This preliminary evaluation will now be integrated into a updated NI 43-101 report for the Nahmint Project to be filed upon completion."
GPS-controlled 'B' horizon soil sampling was completed at 50 m intervals and 100 m.line spacing, concurrently with geological mapping, rock and stream moss mat sampling over the 2 km x 1 km area of Three Jays North Grid.
Final geochemistry results were received on November 14-15, 2013 for the 6 stream moss mat, 303 soil and 35 rock samples taken during the October 2013 field program at the Three Jays North Grid on the Nahmint Property.All samples were received, prepared and analyzed by AGAT Laboratories, using their industry standard sample preparation methods for stream sediments, soils or rocks at AGAT's Burnaby laboratory; and the 48 metal package by 4 acid digestion and ICP/ICPMS finish, and the trace gold by Fire Assay/ICP finish at their Mississauga laboratory.Geochemistry results from the 2013 program for target and indicator elements are statistically summarized as follows:
|Media (#)||Moss (6)||Soil (303)||Rock (35)|
At the Three Jays North Grid, geological mapping has identified an elongate, 1.75 km x 250 m. flat-lying basin of Quatsino limestone along the centre of the grid, overlying Karmutsen mafic volcanics, intruded by steep, narrow felsic intrusive dykes, and cut by block faulting.
Geochemistry data in the Three Jays Area from multiple soil grids completed during different field programs since 2008 has been merged and displays interesting areas and trends of elevated values for target and indicator elements, with seven (7) potential target areas identified and summarized as follows:
To summarize, the 2013 field program at the Three Jays Area of the Nahmint Property has established 4 new, non-outcropping target areas (JJJNE, JJJNW, Danylon and Ridge) to complement the 3 previously known and exposed target areas (JJJ Mine, JJJSW and Beach) in the immediate area.The combined GPS-controlled grid-based soil geochemistry and geological mapping program was very useful in establishing the 4 new target areas.The Three Jays Area of the Nahmint Property represents one of seven geophysical target areas identified by the 2012 aeromagnetic survey completed over the property, and the first of the seven targets with geological mapping and soil geochemistry completed.
Follow up work at the Three Jays area planned for 2014 includes construction of exploration trails, mechanized trenching and diamond drilling, for which a permit for 25,000m of diamond drilling, has been received from the BC Ministry of Energy and Mines, pending posting of the required reclamation security. Expansion of the soil geochemistry and geological mapping program are also planned in the area.Follow up work for the rest of the Nahmint Property includes additional grid-based soil geochemistry and geological mapping over other geophysical targets, along with property scale geological mapping.
The 2013 field program was supervised by Jacques Houle, P.Eng., who is also the qualified person as defined by NI43-101 for the Company and the Property and has approved the contents of this news release.
About Equitas Resources Corp.
Equitas Resources Corp. is a mineral exploration company that specializes in acquiring, exploring and advancing mineral properties. Equitas has a portfolio of base metal and precious metal projects in British Columbia and the Northwest Territories. For more information on the property portfolio and Equitas, please visit www.equitasresources.com or call +1(604)681-1568.
EQUITAS RESOURCES CORP.
On behalf of the Board
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Forward-looking statements in this document include statements about the Property, the terms of the Option Agreement, as amended, and Equitas' ability to meet its obligations under the Option Agreement, as amended. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing for drilling, trenching, and further exploration in 2014 as prescribed above; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Equitas undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
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Source: Equitas Resources Corp. via Globenewswire