TSX-V-listed Equinox Gold has completed an updated mineral resource estimate for its Aurizona gold mine, in Brazil, and an updated mineral reserve and resource estimate, as well as a technical report, for its Mesquite gold mine, in the US.
Aurizona’s measured and indicated resources increased by 50% to 692 000 oz of contained gold, while its underground inferred resources increased 115% to 1.1-million ounces of contained gold.
Mesquite’s measured and indicated resources increased 61% to 1.9-million ounces of contained gold, while the technical report showed net present value (discounted at 5%) of $203-million and demonstrated mine life extension potential.
Exploration executive VP Scott Heffernan said on Tuesday that the Aurizona resource update captured the success of the 2017/18 exploration programme, demonstrating the potential to expand the openpit resource base and develop an underground mine, the latter of which could extend production well beyond the current mine life.
Equinox Gold’s consolidated proven and probable reserves have increased 470% since year-end 2017 to 5.5-million ounces of gold.