VANCOUVER, March. 27, 2015
/CNW/ - Equitas Resources Corp. (TSXv: EQT FSE: T6UN) (the
"Company or "Equitas") is pleased to announce the completion of
Phase 1 airborne EM exploration on the Garland Property in
Labrador, Canada which is located
less than 30kms south-east of the Voisey's Bay Mine.
Phase 1 field work comprised of a 645 line-kilometer utilizing
Geotech's exclusive and industry-leading VTEM™ (Versatile
Time-Domain Electromagnetic) airborne survey. The EM and magnetic
data was collected in order to define electromagnetic anomalies
that may be associated with sulphide mineralization. Final
results of the survey are expected in approximately four weeks. The
final results will be integrated with historical airborne gravity
data from previous operators, which will allow for a better
distinction of targets from the EM survey.
Historic Exploration at the Garland Property
The
Garland Property was explored by 10 separate companies, primarily
between the years 1995 to 1999. At the time, individual claim
blocks were relatively small with multiple owners, which was not
conducive to a regional exploration strategy that would have
allowed for the systematic exploration of the area.
Exploration methods focused on out-dated frequency-domain airborne
Electromagnetic ("EM") surveys over isolated areas, and which have
very shallow depth penetration capabilities (estimated at 75
metres). Further, reconnaissance rock sampling and mapping
covered only a fraction of the Property.
Recently, in-between 2000 to 2007, parts of the property and
areas to the west were explored by Vale Canada Limited (and its
predecessors). Exploration methods included a regional
Airborne Gravity Gradiometer ("AGG") survey, with follow-up Induced
Polarity ("IP") ground-EM surveys, and ground reconnaissance
sampling. This exploration resulted in the identification of
several localized targets, but only one drill-hole was reported for
the Property. Despite the absence of significant Ni-Cu-Co
mineralization, the drill hole verified the suitability of the
region to host a Voisey's Bay-style deposit. The drill hole
encountered, "a sequence of variably textured gabbro-norites with
trace very fine-grained disseminated sulphides locally."
NI 43-101 Disclosure
Neil
McCallum, P. Geo., Dahrouge Geological Consulting Ltd., a
Qualified Person as defined by National Instrument 43-101,
supervised the preparation of the technical information in this
news release.
About Equitas Resources
Equitas Resources Corp.
is a Canadian-based mineral exploration company. The Company is
engaged in the acquisition, exploration and development of mineral
properties with a main focus on nickel. It's Garland Property is
located less than 30 kms south-east of Vale's Voisey's Bay mine in
Labrador, Canada. This property
encompasses 25,050hectares and the region has the potential for new
discoveries utilizing advanced exploration technologies.
On Behalf of the Board of Directors,
EQUITAS RESOURCES CORP.
"KYLER HARDY"
Kyler
Hardy
President and Director
Tel: 604.681.1568
info@equitasresources.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.
It is important to note that actual outcomes and the Company's
actual results could differ materially from those in such
forward-looking statements. Forward looking statements in this news
release include, but are not limited to, that data collected will
define electromagnetic anomalies; the anomalies, if defined will be
associated with sulphide mineralization; final results will be
available in four weeks and the current survey will allow for
better distinction of targets. Risks and uncertainties include
economic, competitive, governmental, environmental and
technological factors that may affect the Company's operations,
markets, products and prices. Factors that could cause actual
results to differ materially may include misinterpretation of data;
that we may not be able to get equipment or labour as we need it;
that we may not be able to raise sufficient funds to complete our
intended exploration and development; that our applications to
drill may be denied; that weather, logistical problems or hazards
may prevent us from exploration; that equipment may not work as
well as expected; that analysis of data may not be possible
accurately and at depth; that results which we or others have found
in any particular location are not necessarily indicative of our
properties; that we may not complete environmental programs
in a timely manner or at all; that market prices for nickel
may not justify commercial production costs; and that despite
encouraging data there may be no commercially exploitable
mineralization on our properties.
Readers should refer to the risk disclosures outlined in the
Company's MD&A (Management Discussion & Analysis) of its
audited financial statements filed with the British Columbia
Securities Commission.
SOURCE Equitas Resources Corp.