Canada-based Equinox Gold has announced that the Greenstone gold project in Ontario, Canada is on schedule to achieve the first gold pour in the first half of 2024 (H1 2024).

According to the gold producer, 85% of the overall Canadian gold project is complete with the wrap-up of detailed engineering. The project has an initial capital cost of $1.23bn and as of 30 June 2023, 76% of that has been spent.

Procurement activities and construction works at the Greenstone gold project are at 87% and 83%, respectively.

Equinox Gold also said that the construction on the process plant at the gold project is 75% complete with the delivery of all major equipment to the site.

Besides, the installation of various crushing and grinding equipment is advanced, which includes work on the ball mills and high pressure grinding rolls (HPGR).

Commissioning activities of the process plant at the Greenstone project are scheduled to commence in Q4 2023.

The tailings storage facility at the Canadian gold project is 80% complete and it is anticipated to be ready for use in Q4 2023.

Equinox Gold president and CEO Greg Smith said: “The Greenstone Project continues to advance on budget and on schedule.

”With most ancillary facilities complete and transferred to the operations team and construction activities 83% complete, our focus is shifting toward commissioning and operational readiness as we advance to construction completion and first gold pour in the first half of 2024, and then achieving commercial production.”

Located about 275km northeast of Thunder Bay, the Greenstone Project is being developed as a 60-40 partnership, respectively by Equinox Gold and its partner Orion Mine Finance Group.

The gold project is anticipated to have an average production of more than 400,000 ounces per annum over the first five years and over five million ounces of gold in its initial 14-year mine life.

Equinox Gold and Orion Mine Finance Group started full-scale construction on Greenstone project in October 2021.