Operator

Equinox Gold Corp.

Terms

3.0% – 5.0% NSR*

Acquisition Date

2009 / May / 15

The Aurizona Gold Project is located in Maranhão State in northern Brazil. Aurizona is an orogenic gold deposit hosted in a greenstone belt of the São Luis Craton. There are many mineralized bodies on the property, but work to date has focused on the Piaba and Tatajuba deposits on which the current resource is based.

The Aurizona mine was an active open-pit operation from 2010 to 2015, producing approximately 329 kozs of gold at an average grade of 1.3 g/t. Ore was processed through a gravity and carbon-in-leach plant with gold recoveries averaging 88%.

A Feasibility Study was released in August 2017 and outlined a mine restart plan involving an upgrade to the mill that provides for an 8,000 tpd crushing and grinding circuit that can treat all ore types. The average annual production is expected to be 136,000 ounces of gold over an initial 6.5 year mine life and commercial production is expected in 2019.

Aurizona reported 971,000 ounces of Proven and Probable Reserves as of December 2018 contained in 19.8 Mt of 1.5 g/t gold material (0.6 g/t cut-off). Exploration programs are ongoing at a number of drill-ready targets including Piaba West which has the potential to extend the existing Piaba deposit 900 metres to the southwest, and Tatajuba which is situated on the same Piaba structure and represents a potential four-kilometre extension along strike from Piaba West.

Recent Activities

May 2019
Equinox announced its first gold pour at the Aurizona Gold Mine.

March 2019
The total Measured & Indicated Resources (exclusive of reserves) increased to 692,000 ounces contained in 12.8 Mt at 1.68 g/t gold, including a new underground Indicated Resource of 460,000 ounces at 1.96 g/t gold. The updated mineral resource estimate incorporated 13,635 metres of shallow infill and step-out drilling focused on the western end of the Piaba deposit, completed since the release of the July 2017 Feasibility Study.

*Au ≤ $1,500 = 3% NSR
 Au $1,501-$2,000 = 4% NSR
 Au > $2,000 = 5% NSR

 

Aurizona Royalty Map
Aurizona Royalty Map