Special Report: Rock chip sampling has returned high-grade silver results from three Pegaso group targets at Equus Mining’s flagship Cerro Bayo silver-gold project in Chile.

Sampling across the Pegaso II, Pegaso III and Pegaso IV targets, part of a group of ‘brownfields’ targets identified following a review of historical data, returned a peak value of 4.6 grams per tonne (g/t) gold and 2,810g/t silver.

Equus Mining (ASX:EQE) managing director John Braham says the results provide the company with further confidence in the compelling brownfields potential of the Cerro Bayo project as the targets sit along trend from several of the more significant, historical high-grade silver and gold producing mines.

“We are highly encouraged by both the large scale of the Pegaso targets and the high-grade results returned from both surface geochemistry and limited historical drilling and we are looking forward to further definition of drill targets on the back of pending rock chip sampling results,” he added.

Results are pending from samples taken over the Pegaso III target and along mapped extensions of the Pegaso II and III targets.

The company has designed a 25-hole diamond drilling program to test the Pegaso II, III and IV targets as part of its dual-track strategy to advance both greenfields and brownfields exploration in parallel with re-evaluating existing resource potential near the plant.

Greenfields drilling is scheduled to kick off in late August targeting more gold and silver beneath and along strike from previously reported high-grade intercepts at the Droughtmaster prospect.


Sampling results highlight silver potential of Pegaso targets

Pegaso targets with location of rock-chip samples within the mapped vein hosting trends Pic: Supplied

The five Pegaso targets cover a cumulative strike length of 3.5km and are within 2km of the project’s 1,500-tonne-per-day flotation plant that has been on care and maintenance since June 2017.

Their potential is highlighted by the attractive rock chip samples that have been assayed so far.

Pegaso II hosts the top result received to date and has an average grade of 0.8g/t gold and 408g/t silver from the 19 samples collected.

Six samples with an average grade of 0.5g/t gold and 71g/t silver including a peak value of 0.4g/t gold and 149g/t silver were collected from Pegaso III, where results from a further 26 rock chip samples taken over veining that hosts visible silver bearing sulphide minerals are pending.

Meanwhile, 27 samples collected from Pegaso IV returned an average grade of 0.7g/t gold and 93g/t silver including a peak value of 4.92g/t gold and 45g/t silver.



This article was developed in collaboration with Equus Mining, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.