Equinox Gold Announces Termination of Earn-in JV Agreement on Brazil Greenfields Concessions
August 13, 2018
Equinox Gold Corp. (TSX-V: EQX, OTC: EQXFF) (“Equinox Gold” or “the Company”) announces that AngloGold Ashanti Holdings plc (“AngloGold”) has terminated the earn-in joint venture at Equinox Gold’s Aurizona greenfields concessions in Brazil. As such, Equinox Gold will retain its 100% interest in the approximately 1,800 km2 greenfield concessions.
Equinox Gold has received all data acquired through AngloGold’s exploration activities. AngloGold spent approximately US$9 million at the greenfields concessions since commencing exploration in August 2016, completing more than 43,000 line-kilometres of high-resolution aeromagnetic, radiometric, and electromagnetic surveying over the entire property, approximately 10,000 metres of drilling on eight targets, and extensive soil geochemistry and geologic mapping surveys. AngloGold also applied considerable effort to social engagement, establishing strong communication and relationships with local landowners that Equinox Gold will maintain with the objective of restarting regional exploration efforts in the future.
“AngloGold’s exploration programs have significantly advanced regional geological models and have highlighted several untested targets that warrant further exploration,” said Scott Heffernan, Executive Vice President Exploration of Equinox Gold. “While our current priority in the region is near-mine exploration at the Aurizona Gold Mine to expand the reserve and resource base, we will continue to review and interpret AngloGold’s exploration data to prioritize regional exploration targets for future drilling, on our own or with a joint venture partner.”
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 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 Gold Mine in Brazil with the objective of pouring gold by year-end 2018, and the Company is advancing its Castle Mountain Gold Mine in California with the objective of commissioning Phase 1 operations by the end of 2019. 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 firstname.lastname@example.org.
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.
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”, “objective”, “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, 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 commence commissioning and achieve production at Castle Mountain; 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.