Equinox Resources (ASX: $EQN) Maiden Drilling Commencement

Equinox Resources Limited (ASX: $EQN) has initiated its maiden drilling program at the 'Rio Negro' prospect, part of the 'Campo Grande' Rare Earth Project province of Bahia, Brazil. The 2,000m drilling program follows the discovery of widespread high-grade REE mineralised zones and is designed to delineate the geological profile, with assay results expected in late Q4 FY24.

Executive Commentary on Maiden Drilling Program

The progress we've made with the Campo Grande Project is not just notable; it's a testament to the power of speed and precision in action. Our ability to assemble an exploration team rapidly, setup a Brazilian identity, embark on an extensive surface sampling campaign, establish a base in Jequié, secure the necessary environmental permits, negotiate land access, finalise a drilling contract, and get commitment and support from community and streamline communication with labs for sample analyses, speaks volumes about our efficiency and competency. I want to acknowledge the pioneering culture behind staking this project. It's the result of diligent groundwork, a keen eye on the geology, and a strategic approach to staking virgin territory. The pace at which we've moved forward is not just impressive; it's exemplary. Being part of the inaugural drill team was a remarkable experience, emphasizing the significance of the program we've initiated. This program is crucial for defining the mineralisation extent at the Rio Negro Prospect. Our strategy, which involves the deployment of three auger teams, is designed for speed and cost-effectiveness, targeting the higher-grade REE ore zone directly. As we extend our surface sampling activities across the broad expanses of the Campo Grande Project, our vision broadens with the aim of unveiling new opportunities. This pursuit enables us to conduct multiple exploration campaigns throughout the project's vast terrain simultaneously. Our methodology is not just about expanding our geographical footprint; it's a testament to our commitment to exploration that is responsible, efficient, cost-effective, and adds real value.

Summary of Maiden Drilling Program and Community Engagements

Equinox Resources Limited (ASX: $EQN) has commenced its maiden drilling program at the 'Rio Negro' prospect, aiming to delineate the geological profile and define the mineralisation extent. The program follows the discovery of widespread high-grade REE mineralised zones, with assay results expected in late Q4 FY24. The company has also secured full support for advancing its projects in Brazil, with positive engagements with community leaders and key Brazilian mining agencies. The CEO's dialogue with Mayor Zé Cocá of Jequié signifies a crucial advancement, earning the full support and endorsement from Mayor Cocá, highlighting a mutual dedication to sustainable development and community prosperity. Equinox Resources aims to contribute to Brazil's mining and resources sector, emphasizing value creation, growth, and sustainability.