Equinox Gold Announces Termination of Earn-in JV Agreement on Brazil Greenfields Concessions
13 August 2018 - 12:57PM
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.
“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 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
ir@equinoxgold.com.
Equinox Gold Contacts
Christian Milau, CEORhylin Bailie, Vice
President Investor RelationsTel: +1 604-558-0560Email:
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.
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.
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