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Message: Equinox Gold drills 21 m of 84.3 g/t Au at Aurizona

Equinox Gold drills 21 m of 84.3 g/t Au at Aurizona

 

2018-03-08 07:07 ET - News Release

 

Mr. Christian Milau reports

EQUINOX GOLD ANNOUNCES POSITIVE RESULTS FROM NEAR-MINE EXPLORATION DRILLING AT AURIZONA

Equinox Gold Corp. has released positive drilling results from near-mine exploration at the company's 100-per-cent-owned Aurizona gold mine in Brazil. Broad intervals of economic grade gold mineralization, including ultrahigh-grade gold values up to 1,005 grams per tonne gold, were intersected near surface at the Genipapo, Micote and Mestre Chico targets. The company tested six near-mine exploration targets with 45 holes totalling 5,500 metres.

Genipapo drill highlights:

 

  • 1.89 grams per tonne gold over 6.0 metres in hole D552;
  • 1.18 g/t Au over 60.0 m in hole D626;
  • 0.87 g/t Au over 22.0 m in hole D627;
  • 0.70 g/t Au over 24.0 m in hole D631.

 

Micote drill highlights:

 

  • 3.28 g/t Au over 9.0 m and 1.90 g/t Au over 11.0 m in hole D554;
  • 84.3 g/t Au over 21.0 m, including 1,005 g/t Au over one m and 735 g/t Au over one m, in hole D612.

 

Mestre Chico drill highlights:

 

  • 1.05 g/t Au over 30.0 m in hole D600;
  • 1.56 g/t Au over 16.0 m and 8.50 g/t Au over 5.0 m in hole D615.

 

"The bulk of recent exploration work at Aurizona has successfully focused on resource growth at the Piaba West target," said Scott Heffernan, executive vice-president of exploration of Equinox Gold. "Concurrently, near-mine exploration drilling has highlighted three targets east of the Piaba gold deposit with significant near-surface gold mineralization, clearly demonstrating the growth potential at Aurizona."

The Genipapo target, located east and north of the Piaba gold deposit, measures several square kilometres in area and covers numerous northwest-southeast-trending gold-in-soil and geophysical anomalies. Drilling focused on the largest gold-in-soil anomaly, measuring 500 m by 1,000 m, and has now intersected gold mineralization on three distinct structures within a 400 m wide corridor. The northwest-southeast orientation of these mineralized structures is new and unique to this portion of the Piaba trend.

Drilling at Micote, located several kilometres to the east along trend from Piaba, successfully tested a typical east-northeast-south-southwest-trending structure over a strike length of 200 m before being truncated by a northwest-southeast-trending fault. Recent mapping and historical drilling suggest that the zone might be displaced approximately 100 m to the northwest. Of note, drilling returned two ultrahigh-grade gold assays of 1,005 g/t Au and 735 g/t Au from within a broader zone of 84.3 g/t Au over 21.0 m. Exploration composites are calculated on uncapped assay values. The samples are from the saprolite zone where surficial processes can significantly enrich gold content. Applying the 40 g/t Au cap that was used for saprolitic material in the Piaba resource estimate would change the interval to 5.29 g/t Au over 21.0 m.

Drilling at the Mestre Chico target was limited to an area measuring 100 m by 100 m. The target is associated with a north-northeast-south-southwest shear zone where several structures converge forming a complex fault system associated with rare felsic plutonic rocks.

The exploration team at Aurizona is currently focused on updating geologic models and refining plans for future drill campaigns, including a first pass drill program at the Tatajuba target that the company plans to commence in the second half of 2018.

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 long-term growth platform with a diverse portfolio of gold and copper assets in North and South America. Construction is under way at the company's Aurizona project in Brazil with the objective of pouring gold by year-end 2018, and a prefeasibility study is under way at the company's Castle Mountain project in California with the objective of restarting production.

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. Drill composites were calculated using cut-off values of 0.3 g/t, 1.0 g/t or 5.0 g/t gold as specified in the drill table and contain no more than three metres of internal waste. Drill intersections are calculated using uncut assays and are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be 60 to 90 per cent of the reported lengths. All samples were submitted to ALS Chemex in Belo Horizonte, Brazil, for sample preparation. Sample pulps were then sent to ALS Chemex in Lima, Peru, for geochemical analysis for gold by fire assay of a 30-gram charge with an atomic absorption finish (AA) and for a 33-multielement geochemical suite by four-acid digestion and inductively coupled mass spectrometry (ICP-MS). Samples with AA gold values over 10.0 g/t are reassayed by screen metallics fire assay. Control samples (accredited standards, blanks and duplicate samples at the field and preparation stages) were inserted on a regular basis. Results were monitored upon receipt of assays.

We seek Safe Harbor.

© 2018 Canjex Publishing Ltd. All rights reserved.

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