VANCOUVER, Dec. 20, 2018 /CNW/ - Equinox Gold Corp. (TSX-V: EQX, OTC: EQXFF) ("Equinox Gold" or the "Company") is pleased to report that the new crusher at its Aurizona Gold Mine in Brazil ("Aurizona") has been energized and dry tested with the expectation of putting first ore through the system in early January 2019.
The project is nearly complete and on schedule to achieve commercial production around the end of Q1-2019.
- Crusher circuit including vibrating feeder has been energized and dry tested
- Commissioning team ramping up and training programs are underway
- Engineering and procurement activities are complete
- Tailings storage facility is complete
- Powerline sub-station upgrades are complete and awaiting final verification by the state utility
- Ancillary buildings and facilities are complete
- At the end of November, processing plant construction was 90% complete
- Concrete work is complete
- Structural steel erection is 96% complete
- Equipment and plate work installation is 86% complete
- Piping is 76% complete
- Electrical and instrumentation is 50% complete
- Pre-production mining is nearing completion
- More than 6.4 million tonnes of material moved
- 730,000 tonnes of ore stockpiled and ready for commissioning
The construction team is focused on piping, electrical and instrumentation. The main transmission line is ready to provide full energization to all equipment, and site-wide distribution circuits to local electrical rooms are being commissioned to enable testing of individual equipment components.
Equinox Gold commenced full-scale construction at Aurizona in January 2018 and pre-production mining in April 2018. Approximately US$116 million was spent at the end of November 30, 2018, including fiscal 2017 spending related to construction activities. The project remains fully funded. In addition to existing cash reserves, the Company has US$10 million remaining to draw against its US$85 million construction credit facility.
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.
On Behalf of the Board of Equinox Gold Corp.
CEO & Director
About Equinox Gold
Equinox Gold is a Canadian mining company with a multi-million-ounce gold reserve base, gold production from its Mesquite Gold Mine in California, and near-term production growth from two past-producing mines in Brazil and California. Construction is well advanced at the Company's Aurizona Gold Mine in Brazil with the objective of achieving commercial production around the end of Q1-2019, and the Company is advancing its Castle Mountain Gold Mine in California with the objective of ramping-up Phase 1 operations in early 2020. Further information about Equinox Gold's portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at [email protected].
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"). All statements other than statements of historical fact are forward-looking statements. The use of the words "expectation", "on track", "around the end", "underway", "awaiting", "nearing", "ready", "enable", "objective", "advancing" 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 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 and achieve production, and the timing to achieve production; the Company's ability to advance Castle Mountain and achieve production, and the timing to achieve production; the Company's ability to successfully operate Mesquite; 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.
SOURCE Equinox Gold Corp.
For further information: Equinox Gold Contacts: Christian Milau, CEO & Director, Rhylin Bailie, Vice President Investor Relations, Tel: +1 604-558-0560, Email: [email protected]