Equinox Gold delivers exceptional results in Brazil
The Aurizona Gold Mine in Brazil. Source: Equinox Gold Corp.
Equinox Gold Corp. [EQX-TSXV; EQXGF-OTC] on Monday January 18 released positive drill results from the Piaba Underground and Genipapo target areas at the company’s 100%-owned Aurizona Gold Mine in Brazil.
Having achieved commercial production in July, 2019, Aurizona is an open-pit gold mine with average life-of-mine production estimated at 130,000 ounces per year.
The company has planned a $7.3 million exploration program for Aurizona this year, including 49,000 metres of drilling, with the objective of further expanding the Piaba resource and advancing the numerous high-priority, high-potential near-mine and regional targets in the Aurizona district.
In addition, a prefeasibility study is underway to assess the potential to operate an underground mine concurrent with the existing open-pit mine. Completion of the study is targeted for late 2021.
“The 2020 Piaba underground program delivered exceptional results, with 96% of the holes intersecting significant gold mineralization. Drilling extended over 3.0 kilometres of strike of the currently 4.0 kilometre-long Piaba deposit and tested depths up to 1.0 kilometre below surface,” said Scott Heffernan, Executive Vice-President, Exploration.
“These results further strengthen the company’s conviction that the Piaba underground deposit represents a substantial opportunity to both extend the mine life and increase annual production at Aurizona,” he said. Drilling at the Genipapo target also continues to demonstrate the potential to define open-pit, near-surface saprolite resources that could further extend the Aurizona mine life.
Piaba drilling highlights include 5.56 g/t gold over 24 metres, including 9.85 g/t gold over 11.0 metres.
Genipapo, located approximately 1.0-km northeast of the Piaba open-pit mine, is the most advanced of three targets, including Micot and Mestre Chico that have the potential to host a series of smaller, near-surface deposits
Three phases of reverse circulation drilling (5,489 metres in 74 holes) were completed at Genipapo in 2020 to follow up on drilling discoveries made in 2018. Results continue to demonstrate the potential to develop Genipapo as open-pit feed for the Piaba mill.
Genipapo drilling highlights include 1.43 g/t gold over 25 metres and 1.41 g/t gold over 90 metres, including 11.0 g/t gold over 4.0 metres.
More recently the company cemented its status as the leading America’s focused gold producer by agreeing to acquire the Premier Gold Mines Ltd. in a friendly all-stock deal worth $612 million.