Equinox Exploration Corp.
TSX VENTURE : EQX

Equinox Exploration Corp.

September 05, 2012 08:30 ET

Equinox Exploration Corp. Reports Grab Samples From 0.01% to 22.49% Copper From Its Binghampton Copper Queen Project in West Central Arizona

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2012) - Equinox Exploration Corp. (TSX VENTURE:EQX) (Equinox) has received assay results from preliminary grab sampling on the Halfmoon Trend, the fourth potential massive sulfide zone at its Binghamton Copper Queen volcanogenic massive sulfide (VMS) Project near Prescott, Arizona within the Arizona Copper Belt. Key points are:

  • The Halfmoon Trend is 1.3 kilometres long, 100 to 200 metres wide and open at both ends. Prospecting and sampling found 11 shafts, 7 adits, 9 trenches and 14 prospect pits along the trend.
  • Grab rocks samples from the outcrops and the various workings along the Halfmoon Trend ranged from 0.01% Cu to 22.49% Cu.
  • Complete sampling details can be found in the following table.
  • The results from the HELITEM EM survey remain outstanding.

The samples are grab samples of visible oxide copper mineralization from the various dumps, workings and outcrops. The copper mineralization encountered in listed in the table. The minerals are: malachite (mal), azurite (az), tenorite (ten), chalcocite (chal), chalcopyrite (cpy) and bornite (bon). Other minerals noted included: sphalerite (sph), galena (gal) and pyrite (py).

Where noted the copper mineralization was 1 to 5 metres wide with multiple parallel copper zones within the 100 to 200 metre wide trend. Mild to strong silica replacement of the hosting schist was common through the length of the trend.

Halfmoon Trend Samples

Sample Location Mineralization %Cu ppm Cu ppb Au
HM-1 shaft dump mal, cpy, chal, ten 4.249 163.2
HM-2 trench dump mal 9358.5 63.0
HM-3 outcrop mal, az, ten 2.406 531.8
HM-4 outcrop mal, az 2.245 1.2
HM-5 outcrop mal 3134.1 <0.5
HM-6 outcrop mal, ten 4122.2 23.5
HM-7 Halfmoon dump mal, cpy, bor, chal, ten 4.071 37.6
HM-8 outcrop mal, ten 3240.8 7.4
HM-9 dozer cut mal, az, bor, ten, gal, sph 19.897 283.7
HM-10 adit dump py, sph 172.4 71.9
HM-11 shaft dump 505.7 144.3
HM-12 prospect cut mal, ten, bor, sph 5.379 35.0
HM-13 prospect cut mal, ten, sph 22.485 231.0
HM-14 outcrop mal, ten, sph 3.249 53.7
HM-15 dozer cut mal 13.107 523.8
HM-16 outcrop mal 5412.9 6.8
HM-17 trench mal, cpy 5.950 88.1
HM-18 shaft mal, chal, ten 10.325 267.3
HM-19 shaft mal, az, ten 15.014 464.1
HM-20 shaft dump mal 8207.1 29.1
HM-21 shaft dump mal 14.564 456.7
HM-23 adit dump mal 6.085 16.7
HM-24 shaft dump mal, az, bor, ten, chal, cpy 17.088 1793.2
HM-25 prospect cut mal, cpy 2.494 129.3
HM-26 prospect cut mal, chal 4.055 510.1
HM-27 prospect cut mal 7.407 644.4
HM-28 shaft dump 274.9 5.3
HM-29 outcrop mal 4.378 30.5
HM-30 adit dump mal, ten 10.771 175.9
HM-31 shaft dump mal, ten 15.849 281.5
HM-32 prospect cut mal, ten 6.333 69.3
HM-33 prospect cut mal, ten 15.318 325.1
HM-34 prospect cut mal 766.8 3.3
HM-35 adit dump mal, ten, chal, cpy 19.185 133.0
HM-36 prospect cut mal 8.876 261.8
HM-37 prospect cut mal 2.266 5.7
HM-38 prospect cut mal 8.413 48.4
HM-39 prospect cut mal, ten 2333.1 77.5
HM-40 prospect cut mal, az, ten 4.619 29.8
HM-41 shaft dump mal, az, bor, ten, chal, cpy 4.878 92.7
HM-42 prospect cut mal, ten, az 1.554 484.5
HM-43 dozer cut mal, ten, az 9.463 25.3
HM-44 prospect cut mal 9948.6 20.1
HM-45 prospect cut mal, ten, az, chal, cpy 4.453 358.8
HM-46 adit dump 226.7 1.5
HM-47 adit dump 60.7 1.8

The Halfmoon Trend is the fourth VMS zone located on the 2,032 hectare Binghampton Copper Queen property, along with the previously developed Binghampton and Copper Queen mines and the Fraction Trend discovered in the earlier reported excavator trenching program.

Equinox is continuing exploration at Binghamton Copper Queen, sampling the surface trenches in greater detail and channel sampling the accessible underground workings at the Copper Queen Mine. This sampling program in combination with the awaited results from the airborne EM survey will assist in directing the upcoming diamond drill program later in the year.

"We continue to be surprised and excited with the grades of copper found in our sampling programs, as we continue to explore and examine the consolidated property. We look forward to further results and our up-coming drill program," stated Vic Nielsen, President of Equinox Exploration Corp.

All samples have been 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.

Equinox is earning a 100-per-cent interest in the Binghampton property by making cash payments of $1.25-million and issuing five million shares over the next four years, subject to a 3-per-cent net smelter return royalty. Equinox has the right to purchase the royalty at a price of $1-million (U.S.) per 1 per cent. In addition, Equinox is obligated to pay $250,000 and issue a further one million shares on the filing of a National Instrument 43-101 resource estimate for the property.

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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