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Vancouver-based Equitas
Resources Corp. (TSX-V: EQT FSE
: T6U1) is a Canadian junior mining
company actively working to develop
their DAY Copper-Gold Porphyry
Project, located in northwest
British Columbia in an area known as
the “Toodoggone Region”, located
approximately 380 Km NW of Prince
George.
The Toodoggone
region itself is an important area
renowned in BC Mining history and
also coming under increasing
attention for ongoing development.
Included in the list of projects
active in the region are Kemmess
North, Kemmess South, Mount Milligan
and Kmanika.
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The Day Property
is a large, known copper-gold
porphyry that was discovered and
previously drilled by Falconbridge
in the 1970s and results obtained at
that time suggest that Day Property
occurrence grades are nearly three
times that of producing mines and
economic projects in the area.
During the Falconbridge time, eight
holes were drilled and results
included Hole DDH 74-1 where assays
showed 0.67% Cu and 0.93 grams per
tonne (g/t) Au over 58.83 meters and
Hole DDH 74-4 where assays showed
0.61% Cu and 1.92 g/t Au over 14.94
meters.
The Day Property,
which consists of 19 contiguous
claims covering 7,119.51 hectares,
is hosted by altered dactite
porphyry that contains significant bornite and
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chalcopyrite
associated with quartz flooding.
The project contains several
porphyry exploration hallmarks such
as: anomalous copper-gold
geochemistry in soil; higher
magnetic susceptibility; and strong
IP chargeability.
There are five
historical showings, and three
primary showings at the Day Property
including the Day Showing, the
Porcupine Showing and the Roy
Showing.
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An NI43-101 Technical Report on the Day Project was filed in March, 2011 and company President
Jay Roberge commented at that time,
“...We are pleased to
receive the technical report
and look forward to
advancing the project
through the recommendations
set forth in the report. It is our intention to
commence field work as soon as the
weather permits.”.
For report
availability, access the company
website at
www.equitasresources.com
The company began
a two-phase exploration program in late spring 2011 including a heli-borne |
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magnetic
survey, followed by
ground work, surface sampling,
ground surveying and mapping.
Their exploration is on-going and an
update on their activities should be
out very soon as the window for
exploration comes to the end in
north central British Columbia.
The Day Project
is located in a relatively remote
area best accessible at present by
helicopter. However, roads into
several regional projects are
relatively close to Day, water
supplies are more than adequate and
power lines are presently available
in the vicinity. An all season road
and power line runs from Prince
George up to the Kemess South Mine.
The Day Project is located 12 kms
from the road and power lines.
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Equitas was able
to report on September 26, 2011 that
it has successfully completed the
second tranche of its private
placement originally announced in
July, 2011. The gross total raised
through these offerings was C$2.26
million and it is worth noting that
$1.35 million represents a strategic
investment by Yield Gold Group Ltd.,
a wholly-owned subsidiary of Hong
Kong and Shanghai listed Zijin
Mining Group Company.
This
strategic investment by Zijin provides Equitas
access to further capital and
expertise from this multi-billion
dollar company – the largest
producer of gold and third largest
producer of copper in China.
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Equitas is now in
the process of building shareholder
value through planned future drill
programs, expanding current assets
in British Columbia, and developing
year-round exploration strategies.
Equitas is led by
a management team which includes
President Jay Roberge and Directors
Steve Williams, Jody Dahrouge, Chris
Grove and Steve Khan.
A complete
in-depth study on Equitas is
underway.
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