Equinox Gold announces inaugural gold pour at Greenstone mine in Canada

Equinox Gold announces inaugural gold pour at Greenstone mine in Canada
Equinox Gold announces inaugural gold pour at Greenstone mine in Canada

Equinox Gold has announced the inaugural pour of gold at its Greenstone mine in Ontario, Canada. The initial pour produced 1,800oz of gold from the full recovery circuit, and as planned. This achievement underscores the mine’s potential as the company’s largest and lowest-cost producer.

Location and projections

Located in Geraldton, Ontario, about 275 kilometers northeast of Thunder Bay, the Greenstone mine is expected to become one of the largest gold mines in Canada. With expected annual production of around 400,000oz in the first five years and an average of 360,000oz per year over an initial mine life of 14 years, the Greenstone Mine is projected to be a major contributor to the gold industry.

Strategic Alliances

The Greenstone Mine is located on the traditional territories of four First Nations and the Métis Nation of Ontario. These communities have been an integral part of the development of the project through long-term relationship agreements, which include aspects of environmental management, employment and training, commercial opportunities and financial participation. This collaborative approach demonstrates Equinox Gold’s commitment to responsible mine operation and respect for local communities.

Acquisition history

Equinox Gold’s acquisition was initially 50% in April 2021, then increased to 60% and finally acquired the remaining 40% in April 2024. Additionally, the company conducted a feasibility study for the Greenstone project after acquiring Premier Gold in December 2020. These strategic steps have led to large-scale construction at the mine and the announcement of the inaugural gold pour.

CEO Comments

Equinox Gold President and CEO Greg Smith expressed his satisfaction with this milestone achieved: “This first gold pour represents another key step towards achieving commercial production at the Greenstone mine. “This is a proud moment for everyone involved and I extend my congratulations to the entire Greenstone team.” Likewise, Smith highlighted that they hope to increase commercial production in the third quarter of this year, providing sustained value from the Greenstone mine to all interested parties.

 
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