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Message: Equinox Gold drills 32.3 m of 1.6 g/t Au at Castle

Equinox Gold drills 32.3 m of 1.6 g/t Au at Castle

 

2018-02-15 09:49 ET - News Release

 

Mr. Christian Milau reports

EQUINOX GOLD ANNOUNCES NEW EAST RIDGE DISCOVERY AT CASTLE MOUNTAIN MINE

Equinox Gold Corp. has discovered significant gold mineralization at the East Ridge target, peripheral to the current resource pit at the company's 100-per-cent-owned Castle Mountain gold mine in California. A channel sampling program covering a portion of the East Ridge target identified extensive, previously unrecognized gold mineralization on surface that is corroborated by three of the best drill results from the Q4 2017 exploration program.

East Ridge drill highlights:

 

  • 1.60 grams per tonne gold over 32.3 metres and 1.08 grams per tonne gold over 17.7 metres in hole 261C;
  • 0.65 gram per tonne gold over 34.6 metres in hole 282C;
  • 1.27 grams per tonne gold over 62.3 metres in hole 284C.

 

The company completed 27 holes totalling 9,230 metres during the fourth quarter of 2017 and obtained additional positive results from drilling designed to test the margins of the current modelled resource pit and below the historical open pits (JSLA, Jumbo and Oro Belle).

Additional drilling highlights:

 

  • 0.39 gram per tonne gold over 32.6 metres in hole 260C;
  • 0.51 gram per tonne gold over 35.1 metres in hole 262C;
  • 0.63 gram per tonne gold over 18.6 metres in hole 265C;
  • 0.35 gram per tonne gold over 32.0 metres in hole 268C;
  • 1.40 grams per tonne gold over 9.30 metres and 0.35 gram per tonne gold over 35.2 metres in hole 271C;
  • 0.33 gram per tonne gold over 73.5 metres in hole 274C;
  • 0.60 gram per tonne gold over 64.0 metres, 0.70 gram per tonne gold over 27.9 metres and 0.35 gram per tonne gold over 65.7 metres in hole 275C;
  • 1.10 grams per tonne gold over 31.9 metres in hole 276C;
  • 1.01 grams per tonne gold over 44.4 metres and 1.49 grams per tonne gold over 21.6 metres in hole 283C;
  • 0.45 gram per tonne gold over 24.7 metres, 0.56 gram per tonne gold over 58.3 metres and 0.75 gram per tonne gold over 15.2 metres in hole 285C;
  • 0.74 gram per tonne gold over 14.9 metres in hole 286C.

 

"Drilling continues to confirm the potential for significant resource growth at Castle Mountain," said Scott Heffernan, executive vice-president, exploration, of Equinox Gold. "The 2017 phase 2 drilling program focused on testing new geological concepts, underdrilled regions below the resource pit, and potential extensions of mineralization along strike to the north of the Oro Belle pit and east of the Oro Belle and Jumbo pits, in particular at the East Ridge target. Results to date have been excellent, encountering ore-grade mineralization over significant widths near the margins and outside of the current resource pit."

The company drilled 58,100 metres at Castle Mountain in 2017 (see previous Castle Mountain press releases on SEDAR under Newcastle Gold's profile). The Castle Mountain exploration team is currently integrating the results of the 2017 program with detailed geological mapping and updating the existing 3-D geological model of the deposit to gain an improved understanding of the controls on mineralization. Additionally, a regional geological mapping and prospecting program is under way and the company intends to drill more than 30,000 metres later in 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 America 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, 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 0.2 gram per tonne gold, 1.2 grams per tonne gold or 5.0 grams per tonne gold as specified in the drill table and contain no more than approximately five metres (15 feet) of internal waste. Drill intersections are calculated using uncut assays and are reported as drilled thicknesses. All samples were submitted to Inspectorate Labs in Reno, Nev., for sample preparation. Sample pulps were then sent to Sparks, Nev., for geochemical analysis for gold by fire assay of a 30-gram charge with an atomic absorption finish (AA). Samples with AA gold values over 10.0 grams per tonne gold were reassayed by screen metallics fire assay. Surface samples are collected using a portable gas-powered rock saw and submitted for gold by fire assay of a 30-gram charge and a multielement geochemical suite of 53 elements by aqua regia digestion and analysis by inductively coupled mass spectrometry (ICP-MS). 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.

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