VANCOUVER, June 8, 2011 /CNW/ - Equitas Resources Corp. (TSXv: EQT) (FSE: T6U1) (the "Company") is pleased to announce the
commencement of a two-phase Exploration Program on the Company's 7,100
hectare DAY Copper-Gold Porphyry Project located in the Toodoggone
region of the Quesnel Porphyry Belt in north-central British Columbia.
The Company has contracted Geo Data Solutions Inc. ("GDS") to complete a
heli-bourne magnetic survey at 100 meter spacing for a total of 916
line kilometers. GDS is preparing to mobilize and estimates the
heli-bourne survey to begin within the next two weeks. This will be
followed up by ground work that may include but not limited to IP / MT
work, surface sampling, ground surveying and mapping.
It is anticipated that Phase 2 of the 2011 Exploration Program will
include a drill program to test known copper-gold porphyry and VMS
targets, confirmed and refined during the Phase 1 exploration work. The
Company has engaged Dahrouge Geological of Edmonton, AB to manage the
drill program based on the initial heli-bourne survey and ground work,
with details of the follow-up work to be provided as Phase 1
exploration work progresses.
On March 3, 2011, the Company announced and released an initial NI
43-101 report for the DAY Copper-Gold Porphyry Project (available on
SEDAR). The Company conducted extensive review and analysis of
available historical exploration and historical drilling data completed
on the property in 1974 by Falconbridge (now Xstrata plc) and
subsequent work completed by Skeena Resources in the early 1990s. This
initial work program is based on the recommendations included in the NI
About the DAY Copper-Gold Project
The Day occurrence is located in north-central British Columbia and is
host to significant porphyry copper-gold mineralization. The occurrence
was discovered and previously drilled by Falconbridge. Drilling in the
early 1970's produced several significant intersections including drill
hole D-74-1 with 0.67% copper and 0.84 g/t gold across 58.83 meters and
drill hole DDH-74-4 of 0.61% copper and 1.920 g/t gold. Skeena
Resources Ltd. reported results including 0.54% copper and 0.704 g/t
gold in drill hole DDH-92-1 located 50 meters dues east of DDH-74-4.
The project is located in the Toodoggone region of the Quesnel Porphyry
Belt in north central British Columbia, approximately 190 km north of
Smithers, BC, and 50 km south of Northgate Mineral's (TSX:NGX) Kemess
South Mine. Before its closure in March 2011, the Kemess South Mine was
the 5th largest mine in BC producing 40.7 million pounds of copper and 100,789
ounces of gold in 2010. Other notable porphyry projects in the belt
include: Northgate Minerals Corp's. Kemess Underground Project,
Thompson Creek Metals Corp's. (TSX:TCM) Mount Milligan Project
(acquired from Terrane Metals for ~$650 million in November 2010), and
Serengeti Resources Inc's (TSXv:SIR) Kwanika Project.
DAY Copper-Gold Project Highlights:
Copper-gold porphyry situated in the Toodoggone region of north-central
Discovered in 1972 by Falconbridge; which drilled eight holes (totaling
1360 meters) including: DDH 74-1: 0.67% Cu, 0.93 g/t Au over 58.83
Target displays porphyry exploration hallmarks:
Hosted by an altered dacite porphyry that contains significant bornite
and chalcopyrite associated with quartz flooding.
Anomalous copper/gold geochemistry in soil (>200 ppm Cu; >50 ppb Au)
Higher magnetic susceptibility (800 nT above background in the area)
Strong IP chargeability
Soil geochemistry, and grid-controlled geophysics, have outlined three
extension targets to the Day Zone:
Northern copper/gold soil anomaly, with coincident angular mineralized
Southern copper soil anomaly, parallel but weaker than the northern
Northern magnetic anomaly, with associated IP chargeability anomaly
north of and subparallel to the Day zone.
Other porphyry deposits in region:
* Closed March 2011; ** As of December 31, 2010; *** As of October 2009;
Source on all data from respective company websites as of date of this
Jody Dahrouge, P. Geo., a qualified person under National Instrument
43-101 reviewed and approved the technical disclosure in this news
About Equitas Resources Corp.
Equitas Resources is a junior exploration and development company
focused on creating shareholder value through discovery. The Company is
at the early stage of this value creation process with its DAY
Copper-Gold Porphyry Project located in the Toodoggone region of the
Quesnel Porphyry Belt in north-central British Columbia.
On Behalf of the Board of Directors
Equitas Resources Corp.
President & Director
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.
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, but are not limited to, economic,
competitive, governmental, environmental and technological factors that
may affect the Company's operations, markets, products and prices.
Readers should refer to the risk disclosures outlined in the Company's
Management Discussion and Analysis of its audited financial statements
filed with the British Columbia Securities Commission.
SOURCE Equitas Resources Corp.
For further information:
please visit the Company's website at http://www.equitasresources.com, or email firstname.lastname@example.org