Greenstone pours first gold

Sandstorm Gold has confirmed the first gold pour by Equinox Gold at the Greenstone mine near Geraldton, Ontario, Canada.

Executive Nolan Watson said the inaugural gold pour was achieved on schedule, producing 1,800 ounces of gold from the full recovery circuit.

Equinox announced last month that ore had been introduced into the grinding circuit, and more than 1.5 million tonnes of ore had been stockpiled for commissioning. Progressively higher-grade ore will now be fed into the mill as production ramps up toward planned throughput of 27,000 tonnes per day.

Commercial production is targeted for the third quarter of this year.

Earlier this month, Equinox closed its acquisition of the remaining 40% of Greenstone Gold Mine GP Inc. from certain funds managed by Orion Mine Finance Management in a US$705 million deal. Equinox now holds 100% ownership of the Greenstone mine.

The consolidated Greenstone is now Equinox Gold’s largest mine, producing an expected average of 400,000 ounces of gold per year over the first five years and an average 360,000 oz. of gold per year over its initial 14-year mine life. It is expected to be one of the world’s lowest-cost open-pit gold mines.

Source: Sandstorm Gold

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