Reserves and Resources

Mineral Reserves & Resources

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PROVEN & PROBABLE MINERAL RESERVES

  Proven Probable Proven and Probable
Mine/Project Tonnes (kt) Grade (g/t) Contained gold (koz) Tonnes (kt) Grade (g/t) Contained gold (koz) Tonnes (kt) Grade (g/t) Contained gold (koz)
Aurizona 12,399 1.51 600 7,379 1.51 358 19,778 1.51 958
Castle Mountain 136,611 0.58 2,559 60,977 0.51 1,004 197,589 0.56 3,563
Mesquite 115 1.05 4 37,700 0.54 654 37,815 0.54 658
Los Filos 26,168 0.91 768 78,052 1.44 3,626 104,220 1.31 4,395
Leach pad inventory           114     114
RDM 5,647 0.73 133 19,079 1.08 656 24,726 0.99 789
Fazenda 2,632 1.77 150 2,756 1.91 169 5,387 1.84 319
Pilar 961  1.51 47  6,044  1.13  219 7,005 1.18 266
Santa Luz 21,578 1.39 966 3,361 1.01 109 24,939 1.34 1,075
Total Proven & Probable     5,227     6,909     12,137

MEASURED & INDICATED MINERAL RESOURCES (inclusive of reserves)

Mine Measured Indicated Measured and Indicated
Tonnes (kt) Grade (g/t) Contained gold (koz) Tonnes (kt) Grade (g/t) Contained gold (koz) Tonnes (kt) Grade (g/t) Contained gold (koz)
Aurizona 14,264 1.52 697 20,066 1.7 1,097 34,330 1.62 1,793
Castle Mountain 160,711 0.58  2,989 81,377 0.51  1,344 242,089 0.56  4,333
Mesquite 165 0.85 5 110,644 0.44 1,567 110,809 0.44 1,571
Los Filos 114,631 0.77 2,851 211,678 1.02 6,922 326,309 0.93 9,773
RDM 3,195 0.77 79 36,107 1.02 1,181 39,303 1.00 1,259
Fazenda 4,870 2.17 339 2,670 2.55 219 7,540 2.30 558
Pilar 2,389 3.50 269 13,479 2.13 922 15,868 2.33 1,191
Santa Luz 31,063 1.36 1,362 9,696 1.96 610 40,760 1.54 1,971
Total Measured & Indicated 331,288   8,591 485,717   13,860 817,008   22,449

INFERRED RESOURCES

Mine Tonnes (kt) Grade (g/t) Contained Gold (koz)
Aurizona 17,267 1.98 1,100
Castle Mountain 171,395 0.40 2,210
Mesquite 73,980 0.32 752
Los Filos 98,204 0.83 2,633
RDM 8,305 1.50 401
Fazenda 6,040 2.45 476
Pilar 20,399 3.21 2,108
Santa Luz 7,265 2.07 483
Total Inferred 402,855   10,163

Notes to Mineral Reserves & Resources

CIM (2014) Definition Standards were followed for Mineral Reserves. Mineral Resources are inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Tonnage and grade measurements are in metric units. Contained gold is reported as troy ounces. Mineral resources do not include factors such as mining dilution or mining recovery. Summation errors may be present due to rounding. See Cautionary Notes on this website.
 
Details of cut-off grades, bulk densities, mining widths, dilution, mining factors and process recovery assumptions applied to Mineral Reserves and Mineral Resources are provided in the Technical Reports for each mine/project.
 
The June 30, 2020 Mesquite Mineral Reserves and Mineral Resources update was based on technical information regarding the Mesquite property originally reported in the “Technical Report on the Mesquite Gold Mine, California, U.S.A.” (the “Mesquite Technical Report”) dated March 18, 2020 with an effective date of December 31, 2019, prepared by AGP Mining Consultants Inc. and also incorporates newly acquired data. The Qualified Persons as defined by National Instrument 43-101 who prepared or supervised the preparation of the information contained in the report are Bruce Davis, FAusIMM (BD Resource Consulting, Inc.), Nathan Robison, PE (Robison Engineering Company Inc.), Ali Shahkar P.Eng. (Lions Gate Geological Consulting Inc.), Robert Sim, P.Geo. (SIM Geological Inc.), Jefferey Woods, SME MMAS (Woods Process Services, LLC) and Gordon Zurowski, P.Eng (AGP).  Mineral Resources were restricted between the June 30, 2020 Reserve pit designs and the ultimate resource limiting pit shell based on a gold price of $1,500/oz, mining cost of $1.60/t mined and a processing cost of $2.26/t ore and G&A was $0.77/t ore placed. Gold recoveries had an assumed recovery of 75% for oxide and 35% for non-oxide materials. The cut-off grade varied by material type from 0.09 g/t for oxide and oxide-transition and 0.18 g/t for non-oxide transition and non-oxide materials. Waste dump material has an assumed recovery of 75% and cut-off grade of 0.14 g/t. Ali Shahkar P.Eng. of Lions Gate Geological Consulting Inc. is the Qualified Person under NI 43-101 responsible for the in-situ mineral resource estimation. Robert Sim, P.Geo. of SIM Geological Inc. is the Qualified Person under NI 43-101 responsible for the waste dump mineral resource estimation. Numbers may not total due to rounding. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Mineral Reserve estimate has an effective date of June 30, 2020 and is based on the Mineral Resource estimate dated June 30, 2020 prepared by Lions Gate Geological Consulting Inc. The Mineral Reserve calculation was completed under the supervision of Gordon Zurowski, P.Eng. of AGP, who is a Qualified Person as defined under NI 43-101. Mineral Reserves are stated within the final design pit based on a $1,350/oz gold price. The cut-off grade varied by material type from 0.14 g/t for oxide and 0.31 g/t for non-oxide materials. The mining cost averaged $1.60/t mined, processing costs are $2.26/t ore and G&A was $0.77/t ore placed. The ore recoveries were 75% for oxide and 35% for non-oxide materials. The June 30, 2020 Mesquite Mineral Reserves and Mineral Resources update was based on technical information regarding the Mesquite property originally reported in the “Technical Report on the Mesquite Gold Mine, California, U.S.A.” (the “Mesquite Technical Report”) dated March 18, 2020 with an effective date of December 31, 2019, prepared by AGP Mining Consultants Inc. The Qualified Persons as defined by National Instrument 43-101 who prepared or supervised the preparation of the information contained in the report are Bruce Davis, FAusIMM (BD Resource Consulting, Inc.), Nathan Robison, PE (Robison Engineering Company Inc.), Ali Shahkar P.Eng. (Lions Gate Geological Consulting Inc.), Robert Sim, P.Geo. (SIM Geological Inc.), Jefferey Woods, SME MMAS (Woods Process Services, LLC) and Gordon Zurowski, P.Eng (AGP). Numbers may not sum due to rounding. Drill composites were calculated using cut-off values of 0.14 g/t and contain no more than 5 metres of internal waste. Drill intersections are calculated using uncut assays and reported as drilled thickness. All samples were submitted to American Assay Lab in Reno, NV for sample preparation and analysis. All samples were crushed and pulverized from which a 1 kg sample pulp was taken for the following analyses: a 50-gram fire assay for gold; a 48 multi-element geochemical suite by 5-acid digestion and Inductively-Coupled Mass Spectrometry (ICP-MS); and a total sulphur and sulphide sulphur analysis. Samples with fire assay gold values over 10.0 g/t gold are re-assayed bye Screen Metallics fire assay. Control samples (accredited standards, blanks, and duplicate samples at the field and preparation stages) were inserted on a regular basis and results were monitored upon receipt of assays.
 
The Aurizona Mineral Reserves and Mineral Resources were reported in the “Technical Report on the Aurizona Gold Mine” (the “Aurizona Technical Report”) dated April 27, 2020 with an effective date of January 24, 2020, prepared by AGP Mining Consultants Inc. The Qualified Persons as defined by National Instrument 43-101 who prepared or supervised the preparation of the information contained in the report are Eleanor Black, P.Geo. and Trevor Rabb, P.Geo, of Equity Exploration Consultants Ltd. and Neil Lincoln and Gordon Zurowski of AGP Mining Consultants Inc. Mineral Resources are reported exclusive of Mineral Reserves. The Mineral Resource statement was prepared by Trevor Rabb, P.Geo. of Equity Exploration Consultants Ltd. who is a Qualified Person as defined by National Instrument 43-101. Mineral Resources from the Piaba Open-Pit, Piaba Underground and Boa Esperança have an effective date of December 31, 2019. Mineral Resources from Tatajuba have an effective date of January 24, 2020. Mineral Resources are reported using a gold price of $1,500/oz. Open-pit Mineral Resources are reported using a cut-off grade of 0.6 g/t gold and are constrained using an optimized pit generated using Lerchs-Grossman pit optimisation algorithm using $1,500/oz gold price, costs of $2.32/t mining, up to $12.13/t processing, $2.84/t G&A and gold recovery up to 92.6%. Underground Mineral Resources are reported using a cut-off grade of 1.0 g/t gold and constrained by using a 1.0 g/t gold confining solid. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Mineral Reserve estimate has an effective date of December 31, 2019 and is based on the Mineral Resource estimate dated December 31, 2019 for Aurizona completed by Equity Exploration. The Mineral Reserve calculation was completed under the supervision of Gordon Zurowski, P.Eng. of AGP Mining Consultants, who is a Qualified Person as defined under NI 43-101. Mineral Reserves are stated within the final design pits based on a $1,350/oz gold price. The cut-off grade used was 0.6 g/t gold for Piaba and Piaba East and 0.41 g/t gold for Boa Esperança. The mining cost averaged $2.32/t mined, processing costs are $9.98/t for laterite/saprolite, $10.28/t for transition and $12.13/t for fresh rock. G&A was $2.84/t ore processed. The ore recoveries were 92.6% for laterite/saprolite, 92.1% for transition and 89.2% for fresh rock. Numbers may not sum due to rounding. See Cautionary Notes. Section 24 of the Aurizona Technical Report includes reference to a preliminary economic assessment (“PEA”) of the potential to development an underground mine at Aurizona. The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results contemplated in the PEA will be realized.
 
The Castle Mountain Mineral Reserve and Mineral Resource Estimates were disclosed in the "NI 43-101 Technical Report on the Preliminary Feasibility Study for the Castle Mountain Project" prepared by Kappes, Cassiday and Associates with an effective date of July 16, 2018, which is available for download on SEDAR at www.sedar.com. The Mineral Reserve estimate with an effective date of June 29, 2018 is based on the Mineral Resource estimate with an effective date of March 29, 2018 that was prepared by Don Tschabrun, SME RM of Mine Technical Services. The Mineral Reserve was estimated by Global Resource Engineering, LLC with supervision by Terre Lane, MMSA, SME RM. Mineral Reserves are estimated within the final designed pit which is based on the $850/oz pit shell with a gold price of $1,250/oz. The minimum cut-off grade was 0.14 g/t gold and 0.17 g/t gold for Phases 1 and 2, respectively. Average life of mine costs are $1.39/tonne mining, $2.11/tonne processing, and $0.80/tonne processed G&A. The average process recovery was 72.4% for ROM and 94% for Mill/CIL. The Mineral Resource is based on a gold cut-off grade of 0.17 g/t. The Mineral Resource is contained within an LG shell limit using a $1,400 gold price as well as cost and recovery parameters presented in the technical report. 
 
The Los Filos Mineral Reserve and Mineral Resource Estimates were disclosed in the "Independent Technical Report for the Los Filos Mine Complex, Mexico" by SRK Consulting (Canada) Inc., and dated March 11, 2019 with an effective date of October 31, 2018. Dr. G. Arseneau, P.Geo., E. Olin, RM-SME, T. Olson, FAusIMM, N. Winkelmann, FAusIMM, N. Lincoln, P.Eng., M. Rykaart, P.Eng., D. Nicholas, P.E. are the Qualified Persons that prepared or supervised preparation of the information contained in the Technical Report.
 
The RDM Mineral Reserve and Mineral Resource Estimates were disclosed in the “Technical Report on the Riacho dos Machados Gold Mine, Minas Gerais, Brazil” by Roscoe Postle Associates Inc., and dated March 27, 2020 with an effective date of May 31, 2018. H.M. Miranda, MBA, ChMc (RM), M.B. Mathisen, C.P.G. and K.A. Altman, Ph.D., P.E., are the Qualified Persons that prepared or supervised preparation of the information contained in the Technical Report.
 
The Fazenda Mineral Reserve and Mineral Resource Estimates were disclosed in the “Technical Report on the Fazenda Brasileiro Mine, Bahia State, Brazil” by Roscoe Postle Associates Inc., and dated March 26, 2020 with an effective date of May 31, 2018. Mark B. Mathisen, C.P.G., H.M. Miranda, MBA, ChMC (RM), R.L. Michaud, P.Eng. and A.P. Hampton, P.Eng. are the Qualified Persons that prepared or supervised preparation of the information in the Technical Report.
 
The Pilar Mineral Reserve and Mineral Resource Estimates were disclosed in the “Technical Report on the Pilar Operations, Goiás State, Brazil” by Roscoe Postle Associates Inc., and dated March 26, 2020 with an effective date of May 31, 2018. M.B. Mathisen, C.P.G., P.A. Geusebroek, P.Geo., H.M. Miranda, MBA, ChMC (RM), R.L. Michaud, P.Eng., and A.P. Hampton, P.Eng. are the Qualified Persons that prepared or supervised preparation of the information contained in the Technical Report.
 
The Santa Luz Mineral Reserve and Mineral Resource Estimates were disclosed in an Equinox Gold press release dated November 9, 2020. The scientific and technical information concerning the Santa Luz Project is summarized, derived, or extracted from the “NI 43-101 Technical Report on the Santa Luz Project, Bahia State, Brazil” with an effective date of June 30, 2020 which is jointly being prepared by Roscoe Postle Associates Inc. (“RPA”), now part of SLR Consulting Ltd (“SLR”), Ausenco Engineering Canada Inc. (“Ausenco”) and the Equinox Gold Technical Services group. Qualified Persons (“QPs”) are Mark Mathisen, C.P.G. and Robert Michaud, P.Eng., both of SLR; Hugo Ribeiro, MAusIMM(CP), Mine Planning and Geology Manager, Santa Luz Mine, for Equinox Gold; and Stephen La Brooy, FAusIMM, and Robert Raponi, P.Eng., both of Ausenco.  Mineral Resources were prepared by Mark Mathisen based on the geological model prepared by Equinox Gold geologists, which SLR reviewed and agreed when preparing the block model. Mineral Reserves, mine plan and mining sections of the study were prepared by or under the supervision of Hugo Ribeiro. The metallurgical testwork, process design and process plant information were prepared by or under the supervision of Stephen La Brooy and Robert Raponi. The study is being summarized into a technical report that will be filed with Canadian securities regulatory authorities before December 24, 2020 and will be available at that time for review on Equinox Gold’s website, on SEDAR and on EDGAR.
 

 

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