The mining plan envisages contract mining operations during the first four years, while pre-stripping and grade control operations will be primarily undertaken using the company’s own mining fleet. The stockpiled low-grade material mined from the Oro Belle and Jumbo pits from previous operations will serve as the initial feed for the project, while the feed for the second phase will be sourced from the Main Trend and South Domes pits. Mining and ore processing at Castle MountainĬonventional open-pit methods of mining will be applied at the gold mine. Gold mineralization is bound by post‐mineral faulting related to the San Andreas fault system.The proven and probable ore reserves at Castle Mountain mine are estimated to be 197.6Mt of ore, containing 3.6Moz of graded at 0.56g/t Au. The district is covered by a thin veneer (up to 300 feet) of Tertiary and Quaternary sediments, shed from the south slope of the Chocolate Mountains. Gold mineralization is hosted in Mesozoic gneisses that are intruded by biotite/muscovite rich granites. The Mesquite Mine comprises two subparallel, Oligocene‐age deposits: Big Chief-Vista and Rainbow. The Mesquite Mine district lies on the southwest flank of the Chocolate Mountains, in amphibolite grade metamorphic rocks of the upper plate of the Vincent‐Chocolate Mountain Thrust. Ongoing efforts at Mesquite are focused on Mineral Resource growth at the Brownie, Vista East 2 and Rainbow deposits, as well as the conversion of Mineral Resources to Mineral Reserves via metallurgical test work, heap leach optimization studies, and the assessment and design of new leach pads to support mine life extension. In addition, there are a number of exploration targets within the Mesquite mine boundary, both within and adjacent to existing open pits. Since acquiring Mesquite in 2018, Equinox Gold has significantly extended the mine life by drilling historical waste dumps and historical leach pads to identify mineralization that is economic at current gold prices. Non-sustaining capital of $16 million is mostly for lease payments for the mining fleet ($13 million) with the remainder allocated to exploration. Sustaining capital of $5 million is primarily for open-pit waste stripping. Production at Mesquite in 2023 is forecast at 80,000 to 90,000 ounces of gold with all-in sustaining costs between $1,415 to $1,480 per ounce of gold sold. While this will reduce production in 2023, exploration and permitting will continue to enable mine life extensions beyond 2023. To reduce costs during 2023, mining at Mesquite has pivoted to a small-pit approach to reduce waste stripping. Inflationary during 2022 hit Mesquite particularly hard, since the mine’s most significant consumables of diesel, cyanide and lime experienced massive price increases. Since then, strong gold prices and exploration success have significantly extended the mine life, bringing consistent cash flow to the Company and substantial value to Equinox Gold shareholders. The Company acquired Mesquite in October 2018, immediately transforming Equinox Gold from a developer to a gold producer. Mesquite was Equinox Gold’s first operating mine. Mesquite has produced more than five million ounces of gold since it commenced operations in 1986, with annual gold production averaging approximately 125,000 ounces over the last 10 years. Mesquite is an open pit, run-of-mine heap leach gold mine located in Imperial County, California, USA, approximately 200 mines of our Castle Mountain Mine, 16 miles west of the state border with Arizona and 24 miles north of the border with Mexico.
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