SURFACE

Equinox headed for Aurizona gold pour by year-end

Equinox Gold remains on track to pour first gold from the Aurizona project in Brazil

Staff Reporter

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Officials said in the report's highlights that, as of June 30, overall project progress was at 60%, while the plant was 51% complete.

With the SAG and ball mills now on-site, their installation is underway, and the stockpiling of ore at the project began in July.

Equinox has achieved full funding of US$146 million for Aurizona's construction budget, and as of the end of the June quarter, $64 million of that had been spent. That includes project construction expenses from the December quarter of 2017 as well.

When in operation, Aurizona is targeting average annual production of 136,000oz.

"While the Aurizona construction team is focused on achieving production, Equinox Gold's exploration team is focused on mine-life extension and district-scale opportunities," the company said.

In related news, Equinox also confirmed in the report that the prefeasibility study for its Castle Mountain project has been received. Its study partner reported the mine in California, US, is projected to have a 16-year mine life and could project 2.8 million ounces of gold from a reserve base of 3.6 million ounces.

The miner is targeting the commissioning of first phase production at Castle Mountain by the end of 2019 and is expecting to produce 45,000oz on average yearly over the mine's first three years.

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