Equity Metals Corporation, formerly known as New Nadina Explorations Limited, is a junior mining firm focused on precious metals and diamond resources. Equity Metals Corporation was incorporated in April 1964 with its head office in Vancouver, British Columbia. The natural resource miner is listed on the TSX Venture Exchange where its ordinary shares are traded under the stock quote EQTY.
The company is a low-risk-taker at the exploration stage. The principal business of the company involves exploration and evaluation of gold and silver hosting mineral and diamond-producing mineral assets.
The Vancouver-based miner owns a 100 per cent stake in the Silver Queen Project sitting within the Omineca Mining District in southern Houston. The project lies in the prolific Skeena Arch and is contiguous to historical mines, producing mines and advanced exploration mine fields.
The mineralization at the Silver Queen site includes gold, silver, zinc and copper elements. It is a flagship project of the company with 45 mineral tenures and 17 crown-granted claims circling a total area of approximately 18,851.76 hectares.
The company also operates the Monument Diamond Project (joint venture) situated along the southern edge of Lac De Gras, Northwest Territories in Canada. The project consists 12 primary diamond-producing kimberlites and hosts various newly identified kimberlites -- Trio, Gemini, Sparky, Genie, and Bling.
Equity Metals hold a 57.40 per cent stake in the project while the remaining is owned by other partners -- Chris and Jeanne Jennings (22.11 per cent) and Archon Minerals Ltd. (Stu Blusson) (20.4 per cent). The Project is subject to one per cent net smelter royalty each to International Royalty Corp and DHK Diamonds Inc.
The company has an indirect interest of 10.3 per cent in the WO Project via DHK Diamonds Inc., in which it holds a 43.37 per cent stake. De Beers Canada Inc. owns the majority stake of 72.13 per cent while the remaining 17.57 per cent is held by Archon Minerals Limited.
The WO Diamond Project is a joint venture comprising eight leases spread on a land package of 5,816.55 hectares in the Lac de Gras region. The Project is located nearly 300 kilometers north-north-eastern of Yellowknife. Equity Metals Corporation is focused on exploration and development programs to discover and evaluate new prospects.