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Equity Metals Corp V.EQTY

Alternate Symbol(s):  EQMEF

Equity Metals Corporation is engaged in the acquisition, exploration and development of mineral and diamond properties in British Columbia, Saskatchewan and the Northwest Territories. It owns a 100% interest, with no underlying royalty, in the Silver Queen project, located along the Skeena Arch in the Omineca Mining Division, British Columbia. The property hosts high-grade, precious- and base-metal veins related to a buried porphyry system, which has been only partially delineated. It has a controlling joint venture interest (57.49%) in the Monument Diamond project, NWT, strategically located in the Lac De Gras district within 40 kilometers (km)of both the Ekati and Diavik diamond mines. It also has royalty and working interests in other Canadian properties. Its WO Project is located in the Lac de Gras area, over 300 km north-northeast of the city of Yellowknife in the Northwest Territories, Canada. Its La Ronge Silica Project is an historic sand quarry located in central Saskatchewan.


TSXV:EQTY - Post by User

Bullboard Posts
Comment by PDMitchellon Sep 24, 2008 10:21pm
461 Views
Post# 15482749

RE: SIX KIMBERLITE PIPES SAMPLED FOR 2.2 TONNES AT

RE: SIX KIMBERLITE PIPES SAMPLED FOR 2.2 TONNES ATAre they good results?  I guess that depends on your perspective.  In my opinion it's amazing and  it's a  very good result that they found three new kimberlites.  Most exploration for kimberlites comes up empty; the odds against finding  kimberlite in, say, 1,000 drill holes is incredibly high.  So I think these are very good results for a month or so of drilling (not all of which was exploration for new kimberlites; some was concerned with sampling previously found kimberlites).

Do they contain diamonds?  Are any or all economic?  That remains to be seen.  The core samples are at the lab and we should know within weeks or perhaps months if any or all of these new kimberlites contains diamonds.  We do know that all other [is it nine kimberlites previously?] kimberlites on the Monument property are diamoniferous so it's a good bet that the three new discoveries are.  But we'll not know until the lab report appears.

All in all IMO the results are very good but today's market seems to have provided investors other things to think about.  Obviously it's a gamble but one rich kimberlite could be worth Billions; what does that work out to on a per share basis?



Bullboard Posts