Weekly Nugget

Equinox Gold Begins Construction of $103M Gold Mine in Brazil

Canada’s Equinox Gold (TSX: EQX) has begun construction at its wholly-owned Santa Luz gold mine in the Brazilian state of Bahia.

The company has committed $103M to construction of the past producing mine. 

The initial capital costs to restart the mine include refurbishing existing infrastructure, retrofitting the plant with additional grinding power, and increasing the storage capacities of the existing tailings and water storage facilities.

Open-pit stripping is expected to begin in February 2021. Modifications and upgrades to the processing plant and tailings and water storage facilities are expected to be finished by the end of 2021, with first gold pour targeted for the first quarter of 2022.

The company has also resumed exploration in the Santa Luz-Fazenda district, a 70-kilometre long greenstone belt that stretches between the company’s two mines in Bahia state.

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Rio Tinto Partners with Junior for Nickel Exploration in Finland

Explorer and developer Bluejay Mining (LON: JAY) has signed a joint venture and earn-in agreement with Rio Tinto (ASX, LON, NYSE: RIO) to advance the Enonkoski nickel project in Finland.

The company’s wholly-owned subsidiary, FinnAust Mining Finland Oy, is currently one of the largest license holders in Finland. It has several brownfield exploration licenses surrounding historical mines, including the Hammaslahti copper mine, the Outokumpu copper mines and the Enonkoski nickel belt, which hosts the Enonkoski project.

The past-producing Enonkoski mine produced 6.7 million tonnes at an average grade of 0.8% nickel between 1984 and 1994.

Blue Jay Mining is also working with Rio Tinto on developing the Dundas ilmenite project in Greenland. 

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UN Praises Lundin Gold’s Fruta Del Norte Mine Sustainable Development Practices

Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) has been recognized by United Nations Global Compact Ecuador for best practices in Sustainable Development Goal 8 – Decent Work and Economic Growth in relation to the training program for mining operations at its Fruta del Norte gold mine in Ecuador. This is the third time in four years that the company has been recognized for its sustainable development best practices.

Global Compact is a United Nations' initiative through which companies and organizations voluntarily align their strategies with ten sustainability principles.  Lundin Gold was first recognized by the United Nations Global Compact Networks of Colombia and Ecuador in November 2017 for its work with a local supplier of food preparation, cleaning and laundry service. 

Lundin Gold was recognized again in 2019 by United Nations Global Compact Canada for its educational and training programs, including a high school equivalency program, and its efforts to develop a network of local suppliers for Fruta del Norte.

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Rare Earth Partnership Formed to Build Mine-to-Magnet Supply Chain

Search Minerals (TSX-V: SMY) and USA Rare Earth have agreed to cooperate on initial development of the two companies’ mineral resources, technologies and strategies. 

Search holds a patented extraction process technology and owns 100% of a critical rare earth element district in SE Labrador, Canada.  USA Rare Earth hopes to build an integrated mine-to-magnet strategy independent of China, and develop the Round Top heavy rare earth and critical minerals project in Texas.

Search’s critical materials district in southeast Labrador, Canada currently has a Preliminary Economic Assessment (PEA) report for the Foxtrot project along with a mineral resource estimate for the Deep Fox project.

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Osino Resource Extending Twin Hill Gold Discovery, Namibia

Osino Resources Corp. (TSXV: OSI) (FSE: RSR1) (OTCQB: OSIIF) has released its latest drills results from its resource drilling program at its Twin Hills Central gold project, apart of its Karibib Gold Project in north-central Namibia. 

Highlights from the latest results include:

  • 327m @ 0.76g/t (OKD058: 22 - 349m), incl. 94m @ 1.35g/t
  • 332m @ 0.82g/t (OKD022: 67 - 399m), incl. 57m @ 2.08g/t
  • 149m @ 1.12g/t (OKR032: 40 - 189m), incl. 60m @ 1.70g/t
  • 150m @ 0.89g/t (OKR037: 13 – 163m), incl. 15m @ 2.32g/t
  • 231m @ 0.64g/t (OKD074: 16 – 247m), incl. 20m @ 1.50g/t

The first phase of the drilling (33,300 metres) was completed on October 11 and the second phase (20,000 metres) commenced on October 27, to be completed by February 2021.

The company is hoping the majority of this drilling will contribute to a Maiden Resource Estimate to be published in the new year.

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Canada Invests in Electric Haulage for Mining Sector, Nouveau Monde Plans Carbon Neutral Mine

Canada's federal and Québec governments plan to contribute $3.6 million to support Propulsion Québec's mission to advance electric haul trucks, battery technologies and fast charging stations for the mining sector.

The electric mining truck and associated solutions developed will be tested and validated in a rock quarry in the town of Val-d'Or, as well as at Nouveau Monde's Matawinie graphite mine. 

Nouveau Monde's aims to have an all-electric mining fleet at its open-pit graphite mine to offer a carbon-neutral source of the lithium-ion battery ingredient, graphite.

Each 40-ton electric mining truck being developed by Propulsion Québec has the potential to eliminate the burning of more than 21,000 gallons of diesel and more than 220 tons of greenhouse gas emissions per year. 

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