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TORONTO, ON – Equinox Minerals Limited (TSX and ASX symbol: “EQN”) (“Equinox” or the “Company”) announced today its preliminary production statistics for the quarter ended September 30, 2009 (“Q3-2009”) from its 100% owned Lumwana Copper Mine (“Lumwana”) in Zambia. During this period, Lumwana continued the ramp up phase for both the mine and process plant operations. Preliminary Q3-2009 copper production statistics demonstrate continued improvement on the Q1-2009 and Q2-2009 production results:
LUMWANA MINE PRODUCTION STATISTICS
Q1 2009
Q2 2009
Q3 2009*
Total mine material movement
tonnes (m)
8.88
20.80
29.89
Ore mined
tonnes (m)
1.84
3.03
4.02
Ore processed
tonnes (m)
2.88
3.03
3.82
Head grade
Cu %
0.93%
0.98%
0.92%
Copper recovery
Cu %
83%
82%
80%
Concentrate grade
Cu %
39%
39%
47%
Copper produced in concentrate
tonnes
22,263
24,413
28,111
Copper produced in concentrate
pounds (m)
49.08
53.82
61.97
* Preliminary production statistics.
During the quarter, the Company’s key areas of focus were as follows:
•
Total material movement increased by 44% compared to Q2-2009. Productivity of both the mine truck and shovel mobile equipment fleet continued to improve with added focus being applied to further
improve mining fleet productivity. Productivity experts Jamieson Group remain engaged assisting site management to improve productivity performance;
•
Equinox took delivery of an additional Caterpillar light fleet (comprising 16 x 40t articulated dump trucks, 5 x 100t dump trucks, 2 excavators and 3 bulldozers). This fleet has primarily been utilized to accelerate stripping of weathered material. Sub-contractor light fleets are also operating for civil works and stripping;
•
Ore mined increased by 33% compared to Q2-2009. Malundwe is currently operating from 4 sub-pits. As additional sub-pits are opened up along the strike of the ore body, further transitional (mixed sulphide-oxide) ore continues to be encountered. However as further mining in Malundwe exposes more consistent sulphide ore, the negative impact of mixed ores on recoveries will diminish;
•
Lower metallurgical recoveries continued to impact production due to the proportion of transitional ore being processed. For Lumwana ore, recoveries in transition material typically range 50-60% whereas those in full sulphide ores range 92-94%. Orebody studies by consultants Golder & Associates show that the Malundwe resource reconciliations are consistent with the original mine design, although grade dilution is occurring as a consequence of using higher bench heights of 8m as opposed to the 4m used in the original mine plan. Bench heights have been increased to improve mining efficiency. These studies also confirm original estimates that the transition ore constitutes about 5% of the orebody;
•
Uranium: Mining of the uranium zones at Valeria South and Valeria North within the Malundwe pit has produced a stockpile of 1.94mt @ 1,044 ppm U and 0.81% Cu to date. This copper-uranium ore is being diverted away from the copper concentrator, and is being classified as ‘waste’ to the copper project. This uranium-rich copper ore stockpile may be treated at a later date, if and when the Company builds a uranium plant; and
•
Wet Season Preparation: Following the experience of mining at Lumwana during the 2008-09 wet season, pit preparation has been substantially enhanced for the forthcoming 2009-10 wet season. Diversion channels to control surface water ingress into the pit have been constructed, substantial sumps excavated for the collection of in-pit water and pumping capacity has been doubled since 2008. In addition, all main ramps and roads have been sheeted and surfaced with bitumen emulsion to improve road conditions, particularly during wet periods.
Management believes that based on the work underway in preparation for the forthcoming wet season, a continuing focus on mining fleet productivity, the commissioning of further trolley-assist infrastructure to help improve truck cycle times and the increasing exposure of new sulphide ore zones, that Q4-2009, subject to wet season conditions, should demonstrate additional improvement on quarterly production to date. As such, the Company expects production of approximately 110,000 tonnes of copper for full calendar year 2009. Full details for the quarter will be provided in the Company’s Q3-2009 results expected to be released mid-November 2009.
Equinox Minerals Limited
Preliminary Production Results for Q3-2009