VANCOUVER, British Columbia, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX-V:EQX) (“Equinox Gold” or “the Company”) is pleased to announce positive results from an additional 24 shallow step-out and infill drill holes totalling 4,200 metres (“m”) that were drilled below the shallow, westernmost Piaba reserve pit and west along strike from existing reserves at the Company’s 100%-owned Aurizona Gold Mine (“Aurizona”) in Brazil.
Drilling Highlights
- 0.97 grams per tonne gold (“g/t Au”) over 19.0 m in hole D563
- 3.31 g/t Au over 4.6 m in hole D565
- 4.64 g/t Au over 9.0 m in hole D566
- 2.01 g/t Au over 19.0 m in hole D567
- 1.27 g/t Au over 25.9 m in hole D568
- 15.30 g/t Au over 1.0 m in hole D569
- 1.35 g/t Au over 17.0 m in hole D570
- 6.59 g/t Au over 6.0 m and 7.32 g/t Au over 5.0 m in hole D571
- 0.83 g/t Au over 17.0 m and 1.84 g/t Au over 8.0 m in hole D573
- 1.43 g/t Au over 9.0 m and 1.32 g/t Au over 10.0 m in hole D576
- 2.82 g/t Au over 7.0 m and 2.08 g/t Au over 22.0 m in hole D577
- 3.44 g/t Au over 8.0 m in hole D579
- 1.11 g/t Au over 11.0 m in hole D581
- 2.12 g/t Au over 10.0 m in hole D584
- 1.65 g/t Au over 34.0 m in hole D585
- 1.03 g/t Au over 34.0 m in hole D586
- For a map of drilling and highlight results, click here
- For an illustrative cross-section (Section 1700W), click here
- For a complete table of the Company’s 2017 exploration drill results to date, click here
“Drilling continues to confirm the potential for significant resource growth at Aurizona,” said Scott Heffernan, EVP Exploration of Equinox Gold. “The 2017 exploration program has primarily focused on testing under-drilled regions below the reserve pit and the extension of mineralization along strike to the west of the Piaba deposit. Results to date have been excellent, encountering significant mineralization below the shallow western end of the pit, extending mineralization up to 350 metres to the west along strike and encountering multiple shallow high-grade intersections.”
The Company completed over 14,000 m of drilling in Q4-2017, bringing the total for 2017 to over 22,000 m. Approximately 9,300 m of infill and step-out drilling was focused in the Piaba West area and 4,800 m tested six new near-mine targets with the remaining results to be released as they are available in Q1-2018. In addition to analyzing the remaining results of the 2017 drill program, Equinox Gold’s exploration team is currently integrating the results of regional geological mapping with the results of the airborne magnetic, radiometric and electromagnetic surveys that were flown by Company’s greenfields exploration joint venture partner, AngloGold Ashanti Holdings plc., to define future exploration targets.
For 2018 the Company’s exploration team has planned an aggressive 34,000 metre drill program focused on resource growth, target development and discovery that is expected to commence after the Tatajuba mining licence is awarded, likely in the second half of the year.
On behalf of the Board of Equinox Gold Corp.
“Christian Milau”
CEO & Director
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 long-term growth platform with 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 year-end 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.
Equinox Gold Contacts
Christian Milau, CEO
Rhylin Bailie, Vice President Investor Relations
Tel: +1 604-558-0560
Email: ir@equinoxgold.com
Qualified Person and Disclosure Statement
Scott Heffernan, M.Sc., P.Geo., the Company’s EVP Exploration and Qualified Person under National Instrument 43-101, has reviewed and verified that the technical information contained in this news release is accurate and approves the written disclosure of the same. Drill composites were calculated using cut-off values of 0.3 g/t, 1.0 g/t or 5.0 g/t gold as specified in the drill table and contain no more than 3 metres of internal waste. Drill intersections are calculated using uncut assays and are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be 60 to 90 percent of the reported lengths. All samples were submitted to ALS Chemex in Belo Horizonte, Brazil for sample preparation. Sample pulps were then sent to ALS Chemex in Lima, Peru for geochemical analysis for gold by fire assay of a 30-gram charge with an Atomic Absorption finish (AA) and for a 33 multi-element geochemical suite by 4-acid digestion and Inductively-Coupled Mass Spectrometry (ICP-MS). Samples with AA gold values over 10.0 g/t are re-assayed by Screen Metallics fire assay. Control samples (accredited standards, blanks and duplicate samples at the field and preparation stages) were inserted on a regular basis. Results were monitored upon receipt of assays.
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”, “expected”, “objective”, “underway”, “continues”, “potential” 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 the exploration strategy and potential at Aurizona, production potential 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 long-term 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 exploration strategy at Aurizona and the results of Aurizona exploration; the impact that Aurizona exploration will have on the project and the Aurizona mine life; the Company’s ability to complete the Castle Mountain prefeasibility study and the results of the study; the Company’s ability to complete construction at Aurizona and the timing to achieve production; 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.
