Equinox Gold tables Brazil mine growth research study

Equinox Gold tables Brazil mine growth research study

Equinox Gold Corp. [EQX-TSXV, EQXGF-OTC] on Monday revealed the outcomes of a prefeasibility research study (PFS) for growth at its 100%- owned Aurizona Cash Cow in Brazil.

The PFS thinks about the addition of an underground mine below the existing Piaba pit in addition to the addition of 2 satellite open pit locations: Tatajuba and Genipapo. By mining the underground and open pit deposits simultaneously with the existing Piaba open pit, the growth would extend the Aurizona mine life to 11 years, with typical yearly production of 137,000 ounces of gold. Overall life of mine production is anticipated at 1.5 million ounces.

Peak production is anticipated to take place in years 2026 to 2029, balancing more than 160,000 ounces yearly. Expense quotes are pegged at US$803 per ounce typical life of mine expenses and US$944 typical all-in-sustaining expenses (AISC) from 2024 onward (and US$ 1,058 per ounce typical AISC life of mine).

On Monday, Equinox shares were mainly the same on the news, reducing 0.76%or $0.07 to $9.04 on volume of 447,080 The shares presently sell a 52- week series of $1750 and $7.53

Equinox Gold is a Canadian mining business with 7 running cash cow, building underway at a 8 website, a multi-million ounce gold reserve base and a clear course to accomplish one million ounces of yearly gold production from a pipeline of advancement and growth tasks.

Equinox runs totally in the Americas, with 2 residential or commercial properties in the United States, one in Mexico and 5 in Brazil.

The business has stated it anticipated to produce in between 470,000 and 530,000 ounces in this year at an AISC of in between US$975 and US$ 1,025 an ounce.

Just recently the business sealed its status as the leading America’s focused gold manufacturer by accepting obtain the Premier Gold Mines Ltd. in a friendly all-stock offer worth $612 million.

The deal was anticipated to offer a clear course to production for the Hardrock gold task in Ontarion, which consists of 5.54 million ounces of tested and possible gold reserves grading 1.27 g/t and will be established in a joint endeavor with Orion Mine Financing.

Hardrock is anticipated to produce 358,000 ounces of gold every year over a 14- year life-span, consisting of approximately 414,000 ounces every year in the very first 5 years.

On the other hand, upgraded mineral reserve and resource price quotes for Aurizona, including the brand-new underground and open pit deposits while balancing out 18 months of mining deficiency, reveal a 73%boost over a December 31, 2019 quote with 1.7 million ounces of gold in the tested and likely reserve classification, grading 1.60 g/t gold. Is 868,000 ounces of gold in the determined and shown resource classification, grading 1.49 g/t gold.