Equinox Exploration Corp.
TSX VENTURE : EQX

Equinox Exploration Corp.

November 27, 2012 08:30 ET

Equinox Exploration Corp. Continues Drilling and Reports Grab Samples from 0.31% to 22.10% Copper from Its Binghampton Copper Queen Project in West Central Arizona

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 27, 2012) - Equinox Exploration Corp. (TSX VENTURE:EQX) (Equinox) continues to drill at its Binghampton Copper Queen volcanogenic massive sulfide (VMS) Project near Prescott, Arizona within the Arizona Copper Belt. Equinox is also reporting assay results from preliminary grab sampling on the Binghampton Trend, Belgium Trend and an unnamed intermediate transition zone. Key points are:

  • A total of five diamond drill core holes have been drilled to date at Copper Queen and two reverse circulation drill holes have been completed one each at Binghampton and Belgium:
    • CBH-101 was drilled vertical to a depth of 399 feet
    • CBH-102 was drilled vertical to a depth of 290 feet
    • CBH-103 was drilled at -75 degrees at 275° to a depth of 504 feet
    • CBH-106 was drilled vertical to a depth of 191 feet
    • CBH-107 was drilled at -60 degrees 087° to a depth of 199 feet
    • BBH-201 was drilled vertical to a depth of 595 feet at Binghampton
    • BBH-202 was drilled vertical to a depth of 330 feet at Belgium
  • Core and reverse circulation chip samples have been shipped to the ALS Minerals lab in Winnemucca, Nevada for analysis.
  • Surface sampling consisted of grab sampling of visible copper mineralization from outcrop, prospect pits, trenches or dumps. Complete sampling details can be found in the following table.
    • The Binghampton Trend is 1000 metres long and 50 to 100 metres wide and open to the north. Visible copper mineralization ranged from 2 to 30 metres in width. Grab rock sampling located copper oxide minerals and copper arsenate minerals with grades ranging from 0.23% to 15.60% copper.
    • The Belgium North Trend is 200 metres long with visible copper mineralization ranging from 2 to 5 metres in width. Grab rock sampling located copper oxide minerals and copper arsenate minerals with grades ranging from 0.81% to 14.05% copper.
    • The Binghampton Belgium Transition Zone requires further surface exploration to ascertain its relationship to the Binghampton and Belgium zones. Visible copper mineralization ranged from 1 to 5 metres in width. Grab rock sampling located copper oxide minerals and copper arsenate minerals with grades ranging from 0.07% to 5.54% copper.

Mild to strong silica replacement of the hosting schist was common through the length of the Binghampton trend. The schist strikes 4 to 9 degrees and dips 70 to 88 degrees to the west. Silica replacement was not noted in the transition zone samples where the schist exhibited a similar strike and dip to that of the Binghampton Zone.

Binghampton, Belgium and Transition Trend Samples

Sample Sample Cu Zone Mineralization ppm Cu % Cu ppb Au
Binghampton Zone
BH-100 outcrop 30 metres azurite, malachite, tenorite 4.52 84
BH-101 prospect dump 2-4 metres malachite pyrite 6040 147
No BH-102
BH-103 outcrop 30 metres copper arsenites (olivenite and conichalicite) 3710 5
BH-104 outcrop 30 metres copper arsenites (olivenite and conichalicite) 3050 2
BH-105 outcrop 30 metres copper arsenites (olivenite and conichalicite) 3.38 7
BH-106 prospect pit 30 metres azurite, malachite, tenorite 2.72 21
BH-107 outcrop 30 metres malachite olivenite tenorite 4.68 95
BH-108 outcrop 30 metres malachite tenorite 15.60 274
BH-109 outcrop 30 metres malachite tenorite 1.17 71
BH-110 trench 30 metres azurite, malachite, tenorite, chalcocite 22.10 590
BH-111 outcrop 30 metres malachite tenorite 12.90 207
BH-112 outcrop 30 metres malachite tenorite olivenite conichalicite 4.23 400
BH-113 outcrop 30 metres azurite malachite tenorite olivenite conichalicite 5.10 77
BH-114 outcrop 10 metres malachite olivenite conichalicite 5980 7
BH-115 outcrop 2 metres malachite conichalicite 3590 9
BH-116 outcrop 2 metres malachite conichalicite 7060 4
BH-117 outcrop 5 metres malachite conichalicite 3.37 1200
BH-118 outcrop 2 metres malachite conichalicite 2290 17
BH-119 outcrop 2 metres malachite conichalicite 3810 10
Binghampton Belgium Transition Zone
BB-1 outcrop 1 metres malachite 3610 1
BB-2 outcrop 2 metres malachite tenorite 1.72 14
BB-3 outcrop 1 metres malachite, chalcopyrite, bornite, chalcocite 2.85 12
BB-4 outcrop 1 metres malachite 3.45 15
BB-5 outcrop 1 metres malachite tenorite 4.92 31
BB-6 outcrop 1 metres malachite tenorite chalcanthite 2.41 30
BB-7 outcrop 2 metres malachite tenorite 3420 4
BB-8 outcrop 1 metres malachite, chalcopyrite, bornite, chalcocite 4740 17
BB-9 outcrop 1 metres malachite tenorite chalcocite olivenite conichalicite 5.54 36
BB-10 outcrop 1 metres malachite tenorite 1.01 25
BB-11 outcrop galalite malachite 5.83 69
BB-12 outcrop 3 metres malachite tenorite 3.18 66
BB-13 outcrop 5 metres malachite tenorite galalite olivenite 3950 3
BB-14 outcrop leached sulfides 732 39
Belgium North Zone
B-100 outcrop 3 metres malachite tenorite 8580 41
B-101 outcrop 2 metres azurite, malachite, tenorite 2.68 406
B-102 shaft dump 2 metres azurite, malachite, tenorite 8150 467
B-103 trench 4 metres azurite, tenorite 3.37 828
B-104 road cut 2 metres azurite, malachite, tenorite, chalcocite, chalcopyrite 14.05 9800

"Our surface sampling programs continue to locate exciting copper grades. We are looking forward to the first assay results from continuing diamond core and reverse circulation programs," stated Vic Nielsen, President of Equinox Exploration Corp.

All grab samples were sent to Acme Analytical Labs in Vancouver, B.C., an ISO9001 certified lab. All results for copper reported in this news release were from ICP MS, with samples yielding greater than 1 per cent copper re-analyzed by ICP ES. At this preliminary stage of the exploration program, the Company is relying on laboratory's internal QA/QC procedures supplemented by Company inserted blanks.

In addition, the board of directors has granted 300,000 incentive stock options to directors, officers and employees at a price of 20 cents with a five-year term, expiring on November 26, 2017.

About Equinox Exploration Corp.

Equinox Exploration Corp. is a publicly traded corporation listed on the TSX-Venture Exchange (TSX VENTURE:EQX) and is engaged in mineral exploration and development in the United States and Chile. The major focus is on copper exploration properties in the Southwest United States where management has extensive experience and a proven track record of discovery. To find out more about Equinox visit its website at www.EquinoxExploration.com.

R. Tim Henneberry, P.Geo., on the Advisory Board of Equinox, is the Qualified Person as defined in National Instrument 43-101 who has reviewed and approved the technical content of this news release.

On behalf of the Board of Directors of Equinox Exploration Corp.

Roy Fuller-Director

Forward-Looking Statement

This news release includes certain statements that may be deemed "forward-looking statements". Forward-looking information includes, but is not limited to: statements with respect to the effect and estimated timeline of the drilling and assay results on the Company; the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting; government regulation of mining operations; potential future expansion of the PFNP; environmental risks; unanticipated reclamation expenses; and title disputes or claims. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: unsuccessful exploration results; changes in metals prices; changes in the availability of funding for mineral exploration; unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.

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