Equinox Gold Announced Results of Updated Feasibility Study for Los Filos Expansion

SEATTLE (Scrap Monster): Equinox Gold Corp. announced the results of an updated feasibility study for expansion at its Los Filos Mine Complex in Mexico.

The new feasibility study is in connection with continued development of the Bermejal Underground deposit and construction of a 10,000 tonnes per day carbon-in-leach (CIL) processing plant at the Mine Complex. The proposed expansion would result in extension of mine life by additional 14.5 years. Furthermore it will lift the average annual production to 280,000 ounces of gold over the period from 2023 to 2036, at -2036) at an all-in sustaining cost of $1,081 per ounce, said the company press release.

The feasibility study assumes that construction of the CIL plant will commence next year and will be commissioned within 18 months, so as to be able to direct higher-grade ore to it by mid-2024. Meantime, the company has not still approved the construction of the CIL plant.

Commenting on the development, Greg Smith, President & CEO of Equinox Gold said that the company is pleased with the results of the feasibility study, although it has not decided to proceeds with the expansion. A final decision will be taken after considering market conditions, the operating stability of the region as well as availability and cost of capital, he added.

The Los Filos Mine Complex has produced 3.4 million ounces of gold since it commenced operations in 2005.

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