VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2012) - Equinox Exploration Corp. (TSX VENTURE:EQX) (Equinox) has received assay results from preliminary grab sampling on the Halfmoon Trend, the fourth potential massive sulfide zone at its Binghamton Copper Queen volcanogenic massive sulfide (VMS) Project near Prescott, Arizona within the Arizona Copper Belt. Key points are:
- The Halfmoon Trend is 1.3 kilometres long, 100 to 200 metres wide and open at both ends. Prospecting and sampling found 11 shafts, 7 adits, 9 trenches and 14 prospect pits along the trend.
- Grab rocks samples from the outcrops and the various workings along the Halfmoon Trend ranged from 0.01% Cu to 22.49% Cu.
- Complete sampling details can be found in the following table.
- The results from the HELITEM EM survey remain outstanding.
The samples are grab samples of visible oxide copper mineralization from the various dumps, workings and outcrops. The copper mineralization encountered in listed in the table. The minerals are: malachite (mal), azurite (az), tenorite (ten), chalcocite (chal), chalcopyrite (cpy) and bornite (bon). Other minerals noted included: sphalerite (sph), galena (gal) and pyrite (py).
Where noted the copper mineralization was 1 to 5 metres wide with multiple parallel copper zones within the 100 to 200 metre wide trend. Mild to strong silica replacement of the hosting schist was common through the length of the trend.
Halfmoon Trend Samples
Sample | Location | Mineralization | %Cu | ppm Cu | ppb Au |
HM-1 | shaft dump | mal, cpy, chal, ten | 4.249 | 163.2 | |
HM-2 | trench dump | mal | 9358.5 | 63.0 | |
HM-3 | outcrop | mal, az, ten | 2.406 | 531.8 | |
HM-4 | outcrop | mal, az | 2.245 | 1.2 | |
HM-5 | outcrop | mal | 3134.1 | <0.5 | |
HM-6 | outcrop | mal, ten | 4122.2 | 23.5 | |
HM-7 | Halfmoon dump | mal, cpy, bor, chal, ten | 4.071 | 37.6 | |
HM-8 | outcrop | mal, ten | 3240.8 | 7.4 | |
HM-9 | dozer cut | mal, az, bor, ten, gal, sph | 19.897 | 283.7 | |
HM-10 | adit dump | py, sph | 172.4 | 71.9 | |
HM-11 | shaft dump | 505.7 | 144.3 | ||
HM-12 | prospect cut | mal, ten, bor, sph | 5.379 | 35.0 | |
HM-13 | prospect cut | mal, ten, sph | 22.485 | 231.0 | |
HM-14 | outcrop | mal, ten, sph | 3.249 | 53.7 | |
HM-15 | dozer cut | mal | 13.107 | 523.8 | |
HM-16 | outcrop | mal | 5412.9 | 6.8 | |
HM-17 | trench | mal, cpy | 5.950 | 88.1 | |
HM-18 | shaft | mal, chal, ten | 10.325 | 267.3 | |
HM-19 | shaft | mal, az, ten | 15.014 | 464.1 | |
HM-20 | shaft dump | mal | 8207.1 | 29.1 | |
HM-21 | shaft dump | mal | 14.564 | 456.7 | |
HM-23 | adit dump | mal | 6.085 | 16.7 | |
HM-24 | shaft dump | mal, az, bor, ten, chal, cpy | 17.088 | 1793.2 | |
HM-25 | prospect cut | mal, cpy | 2.494 | 129.3 | |
HM-26 | prospect cut | mal, chal | 4.055 | 510.1 | |
HM-27 | prospect cut | mal | 7.407 | 644.4 | |
HM-28 | shaft dump | 274.9 | 5.3 | ||
HM-29 | outcrop | mal | 4.378 | 30.5 | |
HM-30 | adit dump | mal, ten | 10.771 | 175.9 | |
HM-31 | shaft dump | mal, ten | 15.849 | 281.5 | |
HM-32 | prospect cut | mal, ten | 6.333 | 69.3 | |
HM-33 | prospect cut | mal, ten | 15.318 | 325.1 | |
HM-34 | prospect cut | mal | 766.8 | 3.3 | |
HM-35 | adit dump | mal, ten, chal, cpy | 19.185 | 133.0 | |
HM-36 | prospect cut | mal | 8.876 | 261.8 | |
HM-37 | prospect cut | mal | 2.266 | 5.7 | |
HM-38 | prospect cut | mal | 8.413 | 48.4 | |
HM-39 | prospect cut | mal, ten | 2333.1 | 77.5 | |
HM-40 | prospect cut | mal, az, ten | 4.619 | 29.8 | |
HM-41 | shaft dump | mal, az, bor, ten, chal, cpy | 4.878 | 92.7 | |
HM-42 | prospect cut | mal, ten, az | 1.554 | 484.5 | |
HM-43 | dozer cut | mal, ten, az | 9.463 | 25.3 | |
HM-44 | prospect cut | mal | 9948.6 | 20.1 | |
HM-45 | prospect cut | mal, ten, az, chal, cpy | 4.453 | 358.8 | |
HM-46 | adit dump | 226.7 | 1.5 | ||
HM-47 | adit dump | 60.7 | 1.8 |
The Halfmoon Trend is the fourth VMS zone located on the 2,032 hectare Binghampton Copper Queen property, along with the previously developed Binghampton and Copper Queen mines and the Fraction Trend discovered in the earlier reported excavator trenching program.
Equinox is continuing exploration at Binghamton Copper Queen, sampling the surface trenches in greater detail and channel sampling the accessible underground workings at the Copper Queen Mine. This sampling program in combination with the awaited results from the airborne EM survey will assist in directing the upcoming diamond drill program later in the year.
"We continue to be surprised and excited with the grades of copper found in our sampling programs, as we continue to explore and examine the consolidated property. We look forward to further results and our up-coming drill program," stated Vic Nielsen, President of Equinox Exploration Corp.
All samples have been sent to Acme Analytical Labs in Vancouver, B.C., an ISO9001 certified lab. All results for copper reported in this news release were from ICP MS, with samples yielding greater than 1 per cent copper re-analyzed by ICP ES. At this preliminary stage of the exploration program, the Company is relying on laboratory's internal QA/QC procedures supplemented by Company inserted blanks.
Equinox is earning a 100-per-cent interest in the Binghampton property by making cash payments of $1.25-million and issuing five million shares over the next four years, subject to a 3-per-cent net smelter return royalty. Equinox has the right to purchase the royalty at a price of $1-million (U.S.) per 1 per cent. In addition, Equinox is obligated to pay $250,000 and issue a further one million shares on the filing of a National Instrument 43-101 resource estimate for the property.
About Equinox Exploration Corp.
Equinox Exploration Corp. is a publicly traded corporation listed on the TSX-Venture Exchange (TSX VENTURE:EQX) and is engaged in mineral exploration and development in the United States and Chile. The major focus is on copper exploration properties in the Southwest United States where management has extensive experience and a proven track record of discovery. To find out more about Equinox visit its website at www.EquinoxExploration.com.
R. Tim Henneberry, P.Geo., on the Advisory Board of Equinox, is the Qualified Person as defined in National Instrument 43-101 who has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors of Equinox Exploration Corp.,
Roy Fuller, Director
Forward-Looking Statement
This news release includes certain statements that may be deemed "forward-looking statements". Forward-looking information includes, but is not limited to: statements with respect to the effect and estimated timeline of the drilling and assay results on the Company; the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting; government regulation of mining operations; potential future expansion of the PFNP; environmental risks; unanticipated reclamation expenses; and title disputes or claims. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: unsuccessful exploration results; changes in metals prices; changes in the availability of funding for mineral exploration; unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS 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.
Contact Information:
Victor L. Nielsen
President/COO
(480) 288-6530
vnielsen@EquinoxExploration.com
Equinox Exploration Corp.
Clive Mostert
Corporate Communications
(780) 920-7670
CMostert@telus.net
www.EquinoxExploration.com