Recently announced on 20/07/16 exploration activities and proposed work at the Acacia Frazer project located in the Northern Territory, approximately 50kms south of Darwin.
The project area is situated within the northern part of the Pine Creek Orogen, which is host to several occurrences of gold, uranium and base metal mineralisation.
The Company believes the Acacia Frazer Project area has potential to host an economically viable mineralisation with substantial benefit to both exploration and potential development with excellent infrastructure, proximity and availability of skilled labour within a favourable mining jurisdiction.
Equator is also successfully renewing exploration licences and engaging technical staff to re‐evaluate and assess exploration potential on the Acacia Frazer Project.
The new management team has undertaken a number of desk top studies including interpretation of regolith and geomorphological mapping with satellite imagery and SRTM products. This work will be integrated with historical surface geochemistry and any newly acquired rock chip data as available in ongoing studies and proposed reconnaissance field activities.
In July and August 2016, the company intends to initiate reconnaissance mapping and surface sampling programs at the Acacia Frazer Project. Several areas of interest within the project area have been highlighted in ongoing desktop studies. The planned reconnaissance activities will assist in prioritising proposed follow‐up work based on prospectivity defined from desktop study results and other historical data.
Equator Resources holds about $1.9M cash in the bank (as of 30/06/16) and is now debt free.
