Vancouver, British Columbia, November 9, 2016 – Equitas Resources Corp. (“Equitas” or the “Company”) (TSXV: EQT) (US: EQTRF) (Frankfurt: T6UN) is pleased to provide an update to its shareholders regarding short and medium term objectives.
The primary objective for the Company will remain on advancing the Cajueiro gold project (“Cajueiro”), located in northern Brazil, to production as quickly as possible. Cajueiro currently has Indicated Resources of 8.64Mt @ 0.77g/t for 214,000oz Au and Inferred Resources of 9.53Mt @ 0.66g/t for 204,000oz Au in sulphides and an additional 1.37Mt @ 1.78g/t in oxides (as saprolite) for 78,400oz Au. The sulphide resources remain open at depth and several gold-in-soil anomalies remain untested by drilling. Whilst the Company has been granted a Trial Mining License for the project, environmental permits are still pending. Applications have been submitted to the relevant regulatory agencies and are awaiting approval.
Equitas has 11 other gold projects in Brazil, most of which are located within the Juruena gold belt, in the states of Matto Grosso and Para, which have had little or no previous drilling. In the short term, the Company is planning an aggressive exploration program at several of these projects including Crepori and Nova Canaa. The Company also intends to offer a number of projects for joint venture and at the same time capitalize on its experience within the region and ramp up its efforts at identifying and acquiring other projects which have the potential to become significant gold mines.
Alan Carter, Interim President & CEO of Equitas stated, “we have an enviable portfolio of gold projects within the prolific Juruena belt, a region which reportedly produced a total of 7-10Moz of gold historically, mainly from placer workings. Several of our projects exhibit significant potential and we intend to aggressively advance those projects, whilst at the same time pursuing our primary objective of advancing Cajuiero to production as rapidly as possible.”
NI 43-101 Disclosure
Everett Makela, P. Geo., VP Exploration and Director of Equitas Resources Corp., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
For more information on Equitas Resources Corp., please contact Investor Relations at 604-681-1568 or email@example.com.
On Behalf of the Board of Directors,
EQUITAS RESOURCES CORP.
Interim President & CEO
Neither the 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 press release.
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding advancing Cajuiero to production rapidly; uncertainty as to approval for environmental permits; the planning of an aggressive exploration program; finding joint venture partners and the ramping up of efforts to acquire other projects are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that references to mineral resources that are not mineral reserves do not have demonstrated economic viability and assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward- looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.