A new reserve estimate issued by Equinox late Tuesday showed a 142% increase in Fazenda’s contained gold to 763,000 oz., enough to support mining to 2033. This increase is net of 242,000 oz. of mining depletion since its previous reserve update in 2021, the Vancouver-based miner said.
In addition, the measured and indicated resource count at Fazenda has risen significantly, up 418% to 1.524 million oz. in contained gold. The average grade of the reserves and resources also increased by 22% and 25%, respectively.
The updated reserves and resources incorporate more than 197,000 metres (1,599 holes) of drilling completed between 2021-2023, as well as additional geotechnical information, updated mining costs and gold price forecasts for the mine design.
“Results from focused exploration at Fazenda over the last three years have exceeded our expectations, delivering significant mine life extension and resource…
