
Equinox Gold Extends Fazenda Mine Operations Until 2033
Equinox Gold Extends Fazenda Mine Operations to 2033
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) has announced a significant extension of its Fazenda mine operations in Brazil, with mining activities now projected to continue until 2033. This development follows a substantial increase in the mine's reserve base, more than doubling due to successful exploration efforts reported by Mining.com. The Fazenda mine, located in the Maria Preta district of Bahia, has been a pivotal site for gold production since 1984, yielding over 3.3 million ounces of gold till date.
Key Reserve and Resource Increases
The new reserve estimate released by Equinox reveals a staggering 142% rise in contained gold at Fazenda, reaching 763,000 ounces. This increase accounts for a depletion of 242,000 ounces due to mining activities since 2021. Additionally, the mine's measured and indicated resources have soared by 418% to 1.524 million ounces of contained gold, as reported by the company. These figures are bolstered by improvements in average grades, with reserves and resources experiencing a 22% and 25% increase, respectively.
Investments in Exploration and Future Plans
According to data from the IndexBox platform, Equinox's focused exploration endeavors since assuming ownership of the mine in 2020 have significantly exceeded expectations. Over 197,000 meters of drilling, involving 1,599 holes, were completed between 2021 and 2023. This intensive activity has improved geological models and increased connectivity between mineralized horizons, particularly in the Canto unit.
Future Exploration Initiatives
The company is set to further bolster its exploration efforts with a 60,000-meter diamond drill program slated for 2025. This initiative aims to replace existing mineral reserves and facilitate further resource growth in proximity to the mine. In addition to near-mine exploration, Equinox plans to assess the broader greenstone belt region extending to its Santa Luz mine in the north.
The extension of operations at Fazenda mine reflects Equinox's strategic emphasis on exploration and resource management, positioning the company for continued success in Brazil's mining sector.
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LIST OF TABLES
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LIST OF FIGURES
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- Market Size And Growth
- Per Capita Consumption
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- Production, In Physical Terms, 2012–2024
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- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, 2012–2024