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Equinox Gold Corp.
Summary
| Project: | Warintza | |
|---|---|---|
| Deposit: | Warintza | |
| Location: | Ecuador | |
| Commodities: | Copper-Molybdenum | |
| Date: | 6/28/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-6-2018: Equinox Gold Corp. announces a Supporting Acquisition report for its Warintza deposit at the Warintza project. Summary of property supporting acquisition. Mine Development Associates (“MDA”) has prepared this Technical Report on the Warintza Pr | |
| Resources: | (Resource, Inf.): 194.99Mt @ 0.42% Cu, 0.031% Mo | |
| CP/QP: | [Overall Report]: Peter Ronning, Steven Ristorcelli (Independent;Mine Development Associates) | |
| ABSTRACT: | Mine Development Associates (“MDA”) has prepared this Technical Report on the Warintza Project at the request of Equinox Gold Corp. (“Equinox”) and its newly incorporated, wholly owned subsidiary Solaris Copper Inc. (“Solaris”). Warintza is a copper-molybdenum project located in southeastern Ecuador, in the province of Morona Santiago, canton Limón Indanza. It consists of three Metallic Mineral Concessions (“the Warintza Concessions”) that cover a total of 10,000 hectares. Lowell Mineral Exploration Ecuador S.A. (“Lowell Exploration”) owns the Warintza Concessions and at the time of writing of this report is the operator of the project. Lowell Copper Holdings Inc. (“Lowell Copper”) holds 99.97% of Lowell Exploration and a nominee shareholder holds the remaining 0.03%. Equinox holds all of the shares of Lowell Copper. On June 20, 2018 Equinox announced that its board of directors had approved a plan of arrangement under which Solaris will acquire all of the shares of Lowell Copper as well as the interest in the Warintza Project. On completion of the arrangement, 60% of Solaris shares will be distributed to Equinox shareholders with the remainder held by Equinox. Solaris will be a reporting issuer, but its shares will not be listed on a public stock exchange. The Warintza Concessions are subject to a 2% net smelter royalty (“NSR”) held by Billiton Ecuador B.V. In order to maintain the concessions in good standing on an annual basis, conservation patent fees must be paid each calendar year. The last payments for mining patents were validated effective on March 31, 2018 and totaled US$ 96,500 for the three concessions. | |
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