Significant Reserve Growth at Fazenda Gold Mine
Equinox Gold has extended the operational life of its Fazenda gold mine in Bahia State, Brazil, by seven years to 2033. The Canadian mining company reported a 142% increase in proven and probable mineral reserves, now totaling 763,000 ounces of contained gold. This update accounts for the extraction of 242,000 ounces since the last estimate in 2021 and reflects 13.2 million tonnes of ore.
Exploration Success and Future Potential
Scott Heffernan, Equinox Gold’s EVP of Exploration, stated: “Results from focused exploration at Fazenda over the last three years have exceeded our expectations, delivering significant mine life extension and resource growth net of mining depletion. These results provide a strong foundation for evaluating expansion opportunities.”
Measured and indicated mineral resources have surged by 418% to 1.524 million ounces, with inferred resources rising 68% to 266,000 ounces. This growth stems from 197,098 meters of drilling across 1,599 holes between January 2021 and December 2023.
The current mine plan includes contributions from nine open-pit and three underground mining areas. Key deposits, including CLX and Canto 2, account for the majority of reserves and resources, while new areas like Barrocas Southwest, Papagaio, and Raminhos have been integrated into the updated plan.
Expansion and Exploration Plans
Equinox Gold has approved a 60,000-meter diamond drilling program for 2025, aiming to further explore underground and open-pit opportunities at Fazenda and assess the broader greenstone belt, which includes its Santa Luz Mine to the north.
With this robust reserve and resource update, Fazenda is positioned for strong production over the next decade, enhancing its role in Equinox Gold’s portfolio.
