Equinox Gold Corp.(TSX: EQX, NYSE American: EQX)(“Equinox Gold” or the “Company”) is pleased to announce that it has signed 20-year land access agreements with all three communities that host its Los Filos Mine in Guerrero, Mexico (“Los Filos”).

With these agreements in place, the Company has initiated activities to support the gradual restart of heap leach operations and is advancing technical studies to evaluate potential expansion opportunities.  

Darren Hall, Chief Executive Officer of Equinox Gold, commented:

“We appreciate the constructive engagement with the communities of Carrizalillo, Mezcala and Xochipala that host our multi-million-ounce Los Filos Mine.

 

“These new 20-year agreements reflect a shared commitment to responsible operations and sustainable benefits over time and provide an important foundation for strengthening our long-term relationship with the communities and fostering an environment that supports future investment and long-term value creation.

 

“With land access agreements in place, we will commence planning for the restart of heap leach operations, while continuing to pursue our exploration programs and technical and engineering studies to assess longer-term development options, including construction of a carbon-in-leach (“CIL”) processing facility.

 

“Los Filos is a world-class deposit, which based on the June 30, 2022 mineral reserve and resource estimation contains 5.4 million ounces of mineral reserves, 7.9 million ounces of measured and indicated mineral resources (exclusive of reserves), 3.2 million ounces of inferred mineral resources, and significant exploration upside.

 

“We believe there is meaningful potential to expand the resource base and increase annual production over time. Our technical work will include an assessment of opportunities to optimize and grow the operation, including evaluating increases to the envisioned CIL mill throughput relative to previous studies, as well as updating project economics and development plans.

 

“The 2022 technical report was prepared using a mineral reserve gold price assumption of US$1,450 per ounce, and we believe there may be opportunities to enhance project economics through updated metal prices, as well as optimized operating assumptions and technical parameters (see October 19, 2022 news release).

 

“We intend to advance this work through a phased, de-risking approach that reflects technical, operational, permitting and stakeholder considerations, while maintaining collaborative engagement with our community partners”.

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Disclosure

At the time of writing the author holds shares in Equinox Gold and Orla Mining.

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