Equinox Gold Provides Construction Update for its Aurizona Gold Mine
VANCOUVER, British Columbia, June 14, 2018 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX-V:EQX) (OTC:EQXGF) (“Equinox Gold” or the “Company”) is pleased to provide an update on construction progress at its Aurizona Gold Mine in Brazil (“Aurizona”). Construction remains on schedule to pour gold by late 2018 with the expectation of producing on average 136,000 ounces of gold per year, and construction spending is tracking in-line with the US$146 million project budget.
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Construction and Mining Progress
- More than 2,000 days with no lost-time incidents
- Overall project is 55% complete and EPCM (engineering, procurement and construction management) activities are 70% complete
- Plant construction is 45% complete and progressing on a number of areas including grinding, crushing, leaching, the thickener, and installation of agitators in the CIP circuit
- Concrete work is 70% complete
- Engineering is complete
Construction progress at Aurizona is documented in a photo gallery on Equinox Gold’s website at www.equinoxgold.com and a number of photos are included at the end of this news release.
The concrete foundations and pedestals for the SAG and ball mills are complete and ready for mill installation, which is expected to commence at the end of June. Concrete work is underway in the surge bin area, 90% complete in the leaching and thickening areas and 50% complete in the crusher area. Structural steel erection in the grinding area has commenced and the thickener tank is 90% complete. Refurbishment of the existing CIP circuit and detox tanks is complete while refurbishment of other equipment such as pumps, agitators, screens and motors is 90% complete.
Engineering is complete and all major contracts have been awarded, including the mining fuel supply contract and the construction contract for electrical and instrumentation installation. Overall procurement of equipment and materials is 70% complete, all major purchase orders have been awarded and the majority of equipment will have been delivered to site by the end of August. More than 80% of the anticipated 1,230 tonnes of structural steel is on site.
Pre-production mining activities, focused on removing waste from two locations in the Piaba pit and developing access roads, commenced in mid-April and are progressing on schedule. The mining contractor has removed more than 600,000 tonnes of waste to date and roadwork is underway in preparation for ore mining in Q3-2018.
On Behalf of the Board of Equinox Gold Corp.
“Christian Milau”
CEO & Director
Equinox Gold Contacts
Christian Milau, CEO & Director
Rhylin Bailie, Vice President Investor Relations
Tel: +1 604-558-0560
Email: ir@equinoxgold.com
About Equinox Gold
Equinox Gold is a Canadian mining company with a multi-million-ounce gold resource base, near-term and growing gold production from two past-producing mines in Brazil and California, and a diverse portfolio of gold and copper assets in North and South America. Construction is underway at the Company’s Aurizona project in Brazil with the objective of pouring gold by late 2018, and a prefeasibility study is underway at the Company’s Castle Mountain project in California with the objective of restarting production. Further information about Equinox Gold’s current portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
Cautionary Notes and Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “will”, “will have been”, “to be”, “expected”, “objective”, “expectation”, “underway” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this news release include, but are not limited to, statements regarding construction activities underway at Aurizona, anticipated production from the Aurizona Gold Mine and Castle Mountain Gold Mine, the Castle Mountain prefeasibility study, the potential for other assets of the Company, and the growth potential of the Company. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company’s periodic filings with Canadian securities regulators, and assumptions made with regard to the Company’s ability to complete construction at Aurizona on time and on budget or at all; the timing to achieve production; the Company’s ability to extend the Aurizona mine life, develop the underground potential of the deposit or identify new mineralization in the Aurizona district; the Company’s ability to complete the Castle Mountain prefeasibility study and the results of the study; and the Company’s ability to achieve its expected growth and production potential. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/fe6df4ba-7232-4321-b9f8-ee62509dc9e4
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http://www.globenewswire.com/NewsRoom/AttachmentNg/1156dbcc-65a2-48bf-84dc-61c90dd5b53f
http://www.globenewswire.com/NewsRoom/AttachmentNg/26e1f463-8e4d-497c-bdc1-21b04648331e
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