Equinox Gold Announces Positive Drill Results from the Bahia Belt in Brazil
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NYSE-A: EQX
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NEWS RELEASE
Equinox Gold Announces Positive Drill Results from the Bahia Belt in Brazil
April 28, 2022 – Vancouver, BC – Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the
“Company”) is pleased to announce positive drill results from 2021 exploration drilling in the 70-km-long greenstone
belt in Bahia State, Brazil that hosts the Company’s 100%-owned Fazenda and Santa Luz gold mines (“Bahia Belt”).
Exploration has identified multiple near-mine and regional discoveries that highlight growth potential in the Bahia Belt.
“The 2021 exploration program in the Bahia Belt has led to the discovery of significant gold mineralization at
multiple targets within haulage distance to our existing mines,” said Scott Heffernan, EVP Exploration for Equinox
Gold. “Drilling at the Canto 2 target adjacent to our Fazenda Mine was particularly important, intersecting very high
grades and clearly highlighting the potential f or both open pit and underground resource growth and mine life
extension at Fazenda. Equinox Gold also secured exploration permits covering an additional 323 square km, bringing
the total land package in the Bahia Belt to nearly 1,300 square k m covering the majority of this highly prospective
but underexplored greenstone belt.
“The 2022 exploration program is well underway and includes over 70,000 metres of drilling across targets ranging
from early to advanced -stage exploration, a high-resolution airborne magnetic survey covering the entire Bahia
Belt, and geologic mapping and geochemical sampling to further refine targets in advance of drilling.”
BAHIA BELT 2021 EXPLORATION PROGRAM HIGHLIGHTS
Exploration targets in the Bahia Belt were identified by integrating multiple datasets including airborne geophysical
surveys, geologic mapping, outcrop and soil sampling, and historic al drilling. During 2021 Equinox Gold tested 17
targets throughout the Bahia Belt, drilling 56,918 metres (“m”) in 479 diamond and reverse circulation (“RC”) drill
holes (Figure 1). Of the 479 holes, 372 intersected anomalous to ore-grade gold mineralization and of these, 126
intersected significant gold mineralization and identified several gold-mineralized systems close to Equinox Gold’s
Fazenda and Santa Luz mines. Highlight results are presented below, and a compl ete table of drill results can be
downloaded here.
Canto 2 Deposit
The Canto 2 deposit was previously operated as a shallow open-pit mine and is directly adjacent to Equinox Gold’s
operating Fazenda open-pit and underground mine complex. A total of 12,212 m in 46 holes (Figure 2) was drilled
to test mineralization continuity along strike and up to 400 m below surface with the objective of increasing both
open-pit and underground mineral resources and upgrading the existing resource classification from Inferred to
Indicated. Every drill hole intersected economic-grade gold mineralization and several intersected newly identified
bonanza grades including 69.0 g/t Au over 3.5 m and 7.53 g/t Au over 5.2 m in hole FBD010, 67.2 g/t Au over 4.0 m
and 3.43 g/t Au over 17.4 m in hole FBD011, 50.8 g/t Au over 2.0 m in hole FBD013, and 3.31 g/t Au over 29.0 m in
hole FBD040. Equinox Gold plans to undertake further exploration at Canto 2 in 202 2 to further test expansion
potential at depth and along strike.
An updated Fazenda Mineral Resource and Mineral Reserve statement, which will incorporate Canto 2 drill results,
is planned for late 2022.
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Canto 2 Drill Highlights (Figure 2)
• 6.88 g/t Au over 3.6 m from 128.0 m (FBD007)
• 69.0 g/t Au over 3.5 m from 131.0 m and 7.53 g/t Au over 5.2 m from 138.8 m (FBD010)
• 67.2 g/t Au over 4.0 m from 106.0 m and 3.43 g/t Au over 17.4 m from 141.8 m (FBD011)
• 50.8 g/t Au over 2.0 m from 69.6 m (FBD013)
• 2.96 g/t Au over 9.0 m from 233.0 m (FBD015)
• 4.68 g/t Au over 10.0 m from 78.0 m (FBD022)
• 2.53 g/t Au over 6.0 m from 191.0 m (FBD027)
• 2.38 g/t Au over 18.0 m from 142.0 m (FBD037)
• 3.31 g/t Au over 29.0 from 259.0 m (FBD040)
• 2.23 g/t Au over 8.4 m from 155.0 m (FBD053)
• 2.03 g/t Au over 8.2 m from 171.8 m (FBD055)
• 2.10 g/t Au over 13.0 m from 32.0 m (FBD056)
Rufino Target
The Rufino Target is a new discovery approximately 11 km from the Fazenda Mine. It is hosted in a mafic rock
package within a shear zone at least 4 km in length. One quarter of the mapped 4-km strike length was tested with
20 drill holes, 18 of which intersected gold mineralization. Grade -thickness values generally increase to the
southeast, culminating with the intercept of 2.35 g/t Au over 55.0 m in hole FBP110. Farther to the southeast, 2.5
km of the mapped shear zone remains untested.
Rufino Drill Highlights (Figure 3)
• 8.96 g/t Au over 2.0 m from 134.0 m (FBD059)
• 0.78 g/t Au over 27.0 m from 17.0 m (FBP108)
• 2.35 g/t Au over 55.0 m from 35.0 m (FBP110)
Mansinha & Mansinha Sul Targets
The Mansinha and Mansinha Sul Targets lie on the same structural corridor as the Santa Luz Mine, representing a
potential gold-mineralized zone more than 11 km in length. The target is hosted in a shear zone within a felsic
package of volcaniclastics and subvolcanic intrusive rocks. Artisanal mining and limited historical shallow drilling
have occurred, but no thorough modern exploration has taken place prior to Equinox Gold’s 2021 exploration
program. Approximately 5 km of the 11 -km-long shear zone was tested with 148 drill holes of which 134
encountered gold mineralization. The target has been tested to depths greater than 100 m in only a few locations,
leaving significant exploration potential at depth.
Mansinha Drill Highlights (Figure 4)
• 2.28 g/t Au over 7.0 m from 37.0 m and 1.49 g/t Au over 14.0 m from 51.0 m and 1.38 g/t Au over 11.0 m
from 77.0 m (SLP036)
• 1.31 g/t Au over 17.0 m from 61.0 m (SLP045)
• 4.66 g/t Au over 12.0 m from 20.0 m and 3.90 g/t Au over 6.0 m from 42.0 m (SLP046)
• 2.20 g/t Au over 8.0 m from 26.0 m (SLP050)
• 1.20 g/t Au over 20.0 m from 84.0 m (SLP103)
• 9.43 g/t Au over 3.0 m from 16.0 m (SLP123)
• 0.91 g/t Au over 25.0 m from 62.0 m (SLP160)
• 0.76 g/t Au over 25.0 m from 10.0 m (SLP161)
• 1.90 g/t Au over 10.0 m from 32.0 m (SLP162)
• 1.35 g/t Au over 13.0 m from 45.0 m (SLP163)
• 0.69 g/t Au over 35.0 m from 28.0 m (SLP165)
• 0.67 g/t Au over 39.0 m from 73.0 m (SLP166)
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• 2.45 g/t Au over 10.0 m from 71.0 m and 4.48 g/t Au over 3.0 m from 101.0 m (SLP169)
• 4.04 g/t Au over 6.0 m from 64.0 m (SLP183)
• 2.77 g/t Au over 24.0 m from 55.0 m (SLP218)
Mansinha Sul Drill Highlights (Figure 5)
• 7.61 g/t Au over 15.0 m from 53.0 m (SLP153)
• 1.07 g/t Au over 11.0 m from 16.0 m and 3.79 g/t Au over 9.0 m from 38.0 m (SLP172)
• 1.89 g/t Au over 13.0 m from 25.0 m (SLP174)
• 3.63 g/t Au over 9.0 m from 55.0 m (SLP175)
• 1.72 g/t Au over 20.0 m from 37.0 m (SLP178)
• 2.35 g/t Au over 15.0 m from 16.0 m (SLP179)
• 1.65 g/t Au over 13.0 m from 71.0 m (SLP181)
• 2.30 g/t Au over 16.0 m from 34.0 m (SLP187)
• 2.89 g/t Au over 6.0 m from 28.0 m (SLP191)
• 3.14 g/t Au over 5.0 m from 41.0 m (SLP194)
• 1.25 g/t Au over 16.0 m from 19.0 m (SLP196)
• 4.30 g/t Au over 6.0 m from 49.0 m (SLP201)
• 1.25 g/t Au over 27.0 m from 65.0 m (SLP205)
• 1.60 g/t Au over 13.0 m from 13.0 m (SLP212)
• 0.52 g/t Au over 35.0 m from 12.0 m (SLP216)
• 2.47 g/t Au over 14.0 m from 29.0 m (SLP227)
• 1.90 g/t Au over 9.0 m from 59.0 m (SLP251)
LAND PACKAGE INCREASE
Following a metallogenic review of the Bahia Belt and favourable preliminary regional exploration results, Equinox
Gold obtained new exploration permits covering an additional 323 square km (Figure 1). These new permits filled
gaps in the existing land package, expanded the Company’s exploration territory around highly prospective targets,
and opened new targets for exploration. The total land package now covers approximately 1,292 square km.
Equinox Gold plans to fly an aeromagnetic survey over the entire land package in Q2 2022, to be followed by
geologic mapping and geochemical sampling in high-priority areas identified by the survey.
ABOUT EQUINOX GOLD
Equinox Gold is a growth-focused Canadian mining company operating entirely in the Americas, with six operating
gold mines, a mine in commissioning, and a clear path to achieve more than one million ounces of annual gold
production from a pipeline of development and expansion projects. Equinox Gold’s common shares are listed on
the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold’s portfolio
of assets and long-term growth strategy is available at www.equinoxgold.com or by email at [email protected].
EQUINOX GOLD CONTACTS
Christian Milau, Chief Executive Officer
Rhylin Bailie, Vice President, Investor Relations
Tel: +1 604-558-0560
Email: [email protected]
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Figure 1 – Bahia Belt Drill Target Locations
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Figure 2 – Canto 2 Target Exploration Results
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Figure 3 – Rufino Target Exploration Results
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Figure 4 – Mansinha Target Exploration Results
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Figure 5 – Mansinha Sul Target Exploration Results