Mr. Christian Milau reports
EQUINOX GOLD ANNOUNCES TERMINATION OF EARN-IN JV AGREEMENT ON BRAZIL GREENFIELDS CONCESSIONS
AngloGold Ashanti Holdings PLC has terminated the earn-in joint venture at Equinox Gold Corp.'s Aurizona greenfields concessions in Brazil. As such, Equinox Gold will retain its 100-per-cent interest in the approximately 1,800-square-kilometre greenfield concessions.
Equinox Gold has received all data acquired through AngloGold's exploration activities. AngloGold spent approximately $9-million (U.S.) 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."
About Equinox Gold Corp.
Equinox Gold is a Canadian mining company with a multimillion-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 under way 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.
Qualified person and disclosure statement
Scott Heffernan, MSc, PGeo, the company's executive vice-president of 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.
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