{"id":5644,"date":"2025-05-22T22:45:54","date_gmt":"2025-05-22T22:45:54","guid":{"rendered":"https:\/\/www.equinoxgold.com\/?post_type=our-mines&#038;p=5644"},"modified":"2026-01-23T06:19:42","modified_gmt":"2026-01-23T14:19:42","slug":"libertad-gold-mine","status":"publish","type":"our-mines","link":"https:\/\/www.equinoxgold.com\/our-mines\/libertad-gold-mine\/","title":{"rendered":"Nicaragua Operations"},"content":{"rendered":"<div  class=\"fndry-container fndry-responsive-bg fndry-container--full fndry-pt--4 fndry-pb--4 fndry-pt--md-3 fndry-pr--md-4 fndry-pb--md-6 fndry-pl--md-4 fndry-pr--sm-2 fndry-pl--sm-2\" style=\"--fndry-bg:linear-gradient(0deg, var(--fndry-color-white) 0%, transparent 30%) center\/auto, url(https:\/\/www.equinoxgold.com\/wp-content\/uploads\/2023\/02\/Castle-Mountain-Mine-Banner.jpg) no-repeat center\/cover, var(--fndry-color-lightGrey)\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pl--2\">\n\t<div class=\"fndry-row fndry-row--gutter fndry-justify--sm-center\">\n\t<div  class=\"fndry-col fndry-responsive-bg fndry-col--12\">\n\t<div  class=\"fndry-container fndry-responsive-bg stock-ticker\">\n\t<div class=\"fndry-row fndry-row--gutter fndry-justify--end\">\n\t<div  class=\"fndry-col fndry-responsive-bg fndry-col--12\">\n\t\n<script>\n\n            if (typeof(stockdio_events) == \"undefined\") {\n\n               stockdio_events = true;\n\n               var stockdio_eventMethod = window.addEventListener ? \"addEventListener\" : \"attachEvent\";\n\n               var stockdio_eventer = window[stockdio_eventMethod];\n\n               var stockdio_messageEvent = stockdio_eventMethod == \"attachEvent\" ? \"onmessage\" : \"message\";\n\n               stockdio_eventer(stockdio_messageEvent, function (e) {\n\n                  if (typeof(e.data) != \"undefined\" && typeof(e.data.method) != \"undefined\") {\n\n                     eval(e.data.method);\n\n                  }\n\n               },false);\n\n            }\n\n         <\/script> \n\n<iframe id='stockdio_ticker' frameBorder='0' scrolling='no' width='100%' height='100%' src='https:\/\/api.stockdio.com\/visualization\/financial\/charts\/v1\/Ticker?app-key=000D428AA5DE48229F9256AD0D439DB9&#038;stockExchange=FOREX&#038;symbols=TSX:EQX(TSX: EQX C$);NYSENASDAQ:EQX(NYSE-A: EQX US$);XAU\/USD(Gold: US$)&#038;scroll=No&#038;template=a15e25b4-89d4-45ef-a9ce-3ed4326b5c98&#038;onload=stockdioticker&#038;cssFiles=https:\/\/www.equinoxgold.com\/equinoxgold.newticker13.css?v=1444'><\/iframe>\n<\/div>\n<\/div><\/div>\n<\/div>\n<div  class=\"fndry-col fndry-responsive-bg fndry-col--7 fndry-col--md-10 fndry-col--sm-12 fndry-pr--3 fndry-pt--6 fndry-pb--6 fndry-pt--md-4 fndry-pb--md-2\">\n\t<h1 class=\"fndry-heading\">Nicaragua Operations<\/h1><h4 class=\"fndry-heading\">Strategic hub-and-spoke gold operation in Nicaragua<\/h4><p class=\"fndry-paragraph fndry-text-introCopy\">Nicaragua Operations is a series of underground and open-pit mines with ore trucked to one of two mills: Limon and Libertad.<\/p><\/div>\n<\/div><\/div>\n<\/div>\n\n\n<div  class=\"fndry-container fndry-responsive-bg\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pb--6 fndry-pt--6\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pr--md-3 fndry-pl--md-3 fndry-pr--sm-2 fndry-pl--sm-2\">\n\t<div class=\"fndry-row fndry-row--gutter fndry-justify--start\">\n\t<div  class=\"fndry-col fndry-responsive-bg fndry-col--7 fndry-col--md-10 fndry-col--sm-12 fndry-pr--sm-2 fndry-pl--sm-2\">\n\t<h2 class=\"fndry-heading\"><strong>Snapshot<\/strong><\/h2><\/div>\n<\/div><\/div>\n<div class=\"fndry-row mobile-cards fndry-row--gutter\">\n\t<div  class=\"fndry-col fndry-responsive-bg snapshot-column fndry-col--6\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--3 fndry-pr--4 fndry-pb--3 fndry-pl--4\" style=\"--fndry-bg:var(--fndry-color-lightGrey)\">\n\t<h3 class=\"fndry-heading\">Ownership<\/h3><h4 class=\"fndry-heading\">100%<\/h4><\/div>\n<\/div>\n<div  class=\"fndry-col fndry-responsive-bg snapshot-column fndry-col--6\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--3 fndry-pr--4 fndry-pb--3 fndry-pl--4\" style=\"--fndry-bg:var(--fndry-color-lightGrey)\">\n\t<h3 class=\"fndry-heading\">Location<\/h3><h4 class=\"fndry-heading\">Nicaragua<\/h4><\/div>\n<\/div>\n<div  class=\"fndry-col fndry-responsive-bg snapshot-column fndry-col--6\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--3 fndry-pr--4 fndry-pb--3 fndry-pl--4\" style=\"--fndry-bg:var(--fndry-color-lightGrey)\">\n\t<h3 class=\"fndry-heading\">2026 Production<sup>1<\/sup><\/h3><h4 class=\"fndry-heading\">200,000 \u2013 250,000 oz gold<\/h4><\/div>\n<\/div>\n<div  class=\"fndry-col fndry-responsive-bg snapshot-column fndry-col--6\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--3 fndry-pr--4 fndry-pb--3 fndry-pl--4\" style=\"--fndry-bg:var(--fndry-color-lightGrey)\">\n\t<h3 class=\"fndry-heading\">2026 Costs<sup>1<\/sup><\/h3><h4 class=\"fndry-heading\">$2,100 \u2013 $2,200 per oz AISC<\/h4><\/div>\n<\/div>\n<div  class=\"fndry-col fndry-responsive-bg snapshot-column fndry-col--6\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--3 fndry-pr--4 fndry-pb--3 fndry-pl--4\" style=\"--fndry-bg:var(--fndry-color-lightGrey)\">\n\t<h3 class=\"fndry-heading\">Limon Reserves<\/h3><h4 class=\"fndry-heading\">697 Koz @ 5.03 g\/t gold<\/h4><\/div>\n<\/div>\n<div  class=\"fndry-col fndry-responsive-bg snapshot-column fndry-col--6\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--3 fndry-pr--4 fndry-pb--3 fndry-pl--4\" style=\"--fndry-bg:var(--fndry-color-lightGrey)\">\n\t<h3 class=\"fndry-heading\">Libertad Reserves<\/h3><h4 class=\"fndry-heading\">431 Koz @ 3.59 g\/t gold<\/h4><\/div>\n<\/div>\n<div  class=\"fndry-col fndry-responsive-bg snapshot-column fndry-col--6\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--3 fndry-pr--4 fndry-pb--3 fndry-pl--4\" style=\"--fndry-bg:var(--fndry-color-lightGrey)\">\n\t<h3 class=\"fndry-heading\">Mining<\/h3><h4 class=\"fndry-heading\">Open-pit and underground<\/h4><\/div>\n<\/div>\n<div  class=\"fndry-col fndry-responsive-bg snapshot-column fndry-col--6\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--3 fndry-pr--4 fndry-pb--3 fndry-pl--4\" style=\"--fndry-bg:var(--fndry-color-lightGrey)\">\n\t<h3 class=\"fndry-heading\">Processing<\/h3><h4 class=\"fndry-heading\">Two CIL plants with 2.7 Mtpa capacity<\/h4><\/div>\n<\/div>\n<div  class=\"fndry-col fndry-responsive-bg fndry-col--6\">\n\t<\/div>\n<div  class=\"fndry-col fndry-responsive-bg fndry-col--6\">\n\t<\/div>\n<div  class=\"fndry-col fndry-responsive-bg fndry-col--6\">\n\t<\/div>\n<div  class=\"fndry-col fndry-responsive-bg fndry-col--6\">\n\t<\/div>\n<\/div><div class=\"fndry-row fndry-row--gutter\">\n\t<\/div><div class=\"fndry-row fndry-row--gutter\">\n\t<div  class=\"fndry-container fndry-responsive-bg\">\n\t<p class=\"fndry-paragraph fndry-text-legalText\">1. The Limon and Libertad mines and mills operate under a hub-and-spoke model and are reported as a single unit. 2026 guidance for the Nicaragua Complex was announced on January 14, 2026.<br>2. M&#038;I Mineral Resources are <strong>inclusive <\/strong>of Reserves. See\u00a0<a href=\"https:\/\/www.equinoxgold.com\/operations\/reserves-and-resources\/\">Operations \/ Reserves &#038; Resources<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.equinoxgold.com\/company\/cautionary-notes\/\">Cautionary Notes<\/a>.<\/p><\/div>\n<\/div><div class=\"fndry-row fndry-row--gutter\">\n\t<\/div><\/div>\n<\/div>\n\n\n<div  class=\"fndry-container fndry-responsive-bg fndry-container--full\" style=\"--fndry-bg:var(--fndry-color-lightGrey)\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--6 fndry-pb--6 fndry-pr--md-3 fndry-pl--md-3\">\n\t<div class=\"fndry-row fndry-row--gutter fndry-justify--start\">\n\t<div  class=\"fndry-col fndry-responsive-bg fndry-col--12 fndry-col--md-10 fndry-col--sm-12 fndry-pr--sm-2 fndry-pl--sm-2\">\n\t<h2 class=\"fndry-heading\"><strong>Overview<\/strong><\/h2><p class=\"fndry-paragraph\">Ore mined from multiple open pits and underground mines at Equinox Gold&#8217;s Nicaragua Operations is processed at either the El Limon or Libertad mills, which together have 2.7 million tonnes per annum of installed processing capacity.<\/p><p class=\"fndry-paragraph\" style=\"--color:var(--fndry-color-tealBlue)\"><strong>Libertad<\/strong><\/p><p class=\"fndry-paragraph\">The Libertad Mine and Mill is located approximately 110 km east of the capital of Managua and operates as a key processing hub in Equinox Gold\u2019s hub-and-spoke strategy in Nicaragua. Currently the mill is fed by ore trucked from the Limon, Pavon and Eastern Borosi gold mines, as well as ore mined near the mill at the Jabali underground mine.<\/p><p class=\"fndry-paragraph\" style=\"--color:var(--fndry-color-tealBlue)\"><strong>El Limon<\/strong><\/p><p class=\"fndry-paragraph\">The Limon Mine &#038; Mill is located in western Nicaragua. The exploitation permit covers 12,000 hectares and includes the Limon Central open pit and the Santa Pancha, Panteon, and Veta Nueva underground mines.<\/p><h2 class=\"fndry-heading\"><strong>Operating Data<\/strong> (Nicaragua)<\/h2><p class=\"fndry-paragraph\">Equinox Gold&#8217;s Nicaragua assets operate as a &#8220;hub-and-spoke&#8221; model with multiple open-pit and underground deposits processed at two processing mills. As such, all of the Nicaragua mines are reported as one operating unit, and the data below include production from both the Limon and Libertad mills.<\/p>\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><td>&nbsp;<\/td><th class=\"has-text-align-right\" data-align=\"right\">2025 Actuals<\/th><th class=\"has-text-align-right\" data-align=\"right\">2024 Actuals<\/th><th class=\"has-text-align-right\" data-align=\"right\"><strong>2023 Actuals<\/strong><\/th><th class=\"has-text-align-right\" data-align=\"right\"><strong>2022 Actuals<\/strong><\/th><th class=\"has-text-align-right\" data-align=\"right\"><strong>2021 Actuals<\/strong><\/th><th class=\"has-text-align-right\" data-align=\"right\"><strong>2020 Actuals<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Gold sold (oz)<\/td><td class=\"has-text-align-right\" data-align=\"right\">251,994<\/td><td class=\"has-text-align-right\" data-align=\"right\">207,224<\/td><td class=\"has-text-align-right\" data-align=\"right\">242,126<\/td><td class=\"has-text-align-right\" data-align=\"right\">180,875<\/td><td class=\"has-text-align-right\" data-align=\"right\">183,242<\/td><td class=\"has-text-align-right\" data-align=\"right\">135,357<\/td><\/tr><tr><td>Cash costs ($\/oz)<\/td><td class=\"has-text-align-right\" data-align=\"right\"><\/td><td class=\"has-text-align-right\" data-align=\"right\">1,313<\/td><td class=\"has-text-align-right\" data-align=\"right\">1,009&nbsp;<\/td><td class=\"has-text-align-right\" data-align=\"right\">1,065<\/td><td class=\"has-text-align-right\" data-align=\"right\">1,013<\/td><td class=\"has-text-align-right\" data-align=\"right\">878<\/td><\/tr><tr><td>AISC ($\/oz)<\/td><td class=\"has-text-align-right\" data-align=\"right\"><\/td><td class=\"has-text-align-right\" data-align=\"right\">1,480<\/td><td class=\"has-text-align-right\" data-align=\"right\">1,134<\/td><td class=\"has-text-align-right\" data-align=\"right\">1,154<\/td><td class=\"has-text-align-right\" data-align=\"right\">1,136<\/td><td class=\"has-text-align-right\" data-align=\"right\">1,043<\/td><\/tr><tr><td>Sustaining capital ($M)<\/td><td class=\"has-text-align-right\" data-align=\"right\"><\/td><td class=\"has-text-align-right\" data-align=\"right\">29<\/td><td class=\"has-text-align-right\" data-align=\"right\">27&nbsp;<\/td><td class=\"has-text-align-right\" data-align=\"right\">12<\/td><td class=\"has-text-align-right\" data-align=\"right\">13<\/td><td class=\"has-text-align-right\" data-align=\"right\">9<\/td><\/tr><\/tbody><\/table><\/figure>\n<h2 class=\"fndry-heading\"><strong>Processing<\/strong><\/h2><p class=\"fndry-paragraph\">The El Limon processing plant has a processing capacity of 500,000 tonnes per year. The plant uses agitated cyanide leaching and carbon adsorption, followed by carbon elution, electrowinning, and dor\u00e9 production with gold recoveries of 94% to 95%.<\/p><p class=\"fndry-paragraph\">The Libertad processing plant has a nameplate capacity of 2.25 million tonnes per annum and recovers gold at rates of approximately 94% to 95%, processing both spent ore and run-of-mine (ROM) ore. With more than one million tonnes of excess annual milling capacity, Libertad is positioned to process ore from multiple regional sources within a 400 km radius, providing strategic flexibility and lowering overall unit costs.<\/p><h2 class=\"fndry-heading\"><strong>Mining<\/strong><\/h2><p class=\"fndry-paragraph\">The El Limon exploitation permit covers 12,000 hectares and includes the Limon Central open pit and the Santa Pancha, Panteon, and Veta Nueva underground mines. The area has been explored since the 1850s, mined sporadically since the early 1900s and in continuous production since 2009.<\/p><p class=\"fndry-paragraph\">The Libertad Mine area has been explored and mined sporadically for more than 150 years, and in production continuously since 2009. The Libertad exploitation concession covers an area of 10,937 hectares and was granted by Ministerial Decree for a 40-year term in 1994. The 176 km<sup>2<\/sup> Eastern Borosi land package is a low-sulphidation, epithermal district that hosts numerous high-grade, gold-silver vein systems and both open-pit and underground resources including the Riscos de Oro, East Dome, Blag and La Luna deposits, in addition to the now-operating Guapinol\/Vancouver open-pit mine. Ore from the open-pit Pavon Mine is trucked approximately 300 kms on paved highways to the Libertad processing facility.<\/p><h2 class=\"fndry-heading\"><strong>Exploration<\/strong><\/h2><p class=\"fndry-paragraph\">In Nicaragua Equinox Gold has an extensive, ongoing, multi-prong approach to all exploration activities. The Company is advancing a resource expansion and discovery drill program with multiple drill rigs operating across the Libertad concession. Two adjacent exploration concessions\u2014Buenaventura and Cerro Quiroz\u2014add an additional 4,600 hectares to the land package. Equinox Gold continues to advance a multi-rig drill program targeting resource expansion and new discoveries across the concessions.<\/p><p class=\"fndry-paragraph\">The Pavon Mine is located within the Natividad and Las Brisas exploration concessions totalling 31.5 km<sup>2<\/sup>. Surrounding the Eastern Borosi project is a large 7,281 km<sup>2<\/sup> land package prospective for porphyry, skarn and epithermal vein deposits, which include the Primavera and Cerro Aeropuerto deposits, both of which contain an Inferred Mineral Resource.<\/p><p class=\"fndry-paragraph\">The Libertad project also comprises the Buenaventura and Cerro Quiroz exploration concessions, which are contiguous with the Libertad exploitation concession and cover a total of 4,600 hectares.<\/p><p class=\"fndry-paragraph\">At El Limon, in addition to the exploitation permit, the Limon project also comprises contiguous exploration permits\u2014Bonete-Limon, Guanacastal III, San Antonio, and Guanacastal II\u2014that cover 8,147 hectares. A separate exploration permit, Villanueva 2, is located 12 km to the north and spans 1,200 hectares. Equinox Gold is actively exploring the region with multiple drill rigs focused on resource expansion and discovery.<\/p><\/div>\n<\/div><div class=\"fndry-row fndry-row--gutter\">\n\t<\/div><\/div>\n<\/div>\n\n\n<div  class=\"fndry-container fndry-responsive-bg\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-pt--0 fndry-pb--6 fndry-pr--md-3 fndry-pl--md-3\">\n\t<div class=\"fndry-row fndry-row--gutter\">\n\t<\/div><\/div>\n<\/div>\n\n\n<div  class=\"fndry-container fndry-responsive-bg fndry-container--full fndry-pr--3 fndry-pl--3 fndry-mb--2\">\n\t<div  class=\"fndry-container fndry-responsive-bg fndry-container--full fndry-pt--6 fndry-pb--6\" style=\"--fndry-bg:var(--fndry-color-tealBlue)\">\n\t<div  class=\"fndry-container fndry-responsive-bg\">\n\t<div class=\"fndry-row fndry-align--center fndry-justify--center\">\n\t<div  class=\"fndry-col fndry-responsive-bg fndry-col--12 fndry-col--md-12 fndry-pr--md-6 fndry-pl--md-6 fndry-pr--sm-3 fndry-pl--sm-3 fndry-d--flex fndry-flex--col fndry-align--center fndry-justify--center\">\n\t<h2 class=\"fndry-heading\" style=\"color:var(--fndry-color-white)\"><strong>Castle Mountain Phase 2<\/strong><\/h2><p class=\"fndry-paragraph fndry-text-intro\" style=\"--color:var(--fndry-color-white)\">Permitting is underway for Castle Mountain Phase 2, which will increase production to more than 200,000 oz of gold per year.<\/p><a  href=\"https:\/\/www.equinoxgold.com\/growth-projects\/castle-mountain-expansion\/\" rel=\"\" id=\"ab634da53937add\" class=\"fndry-btn fndry-mr--auto fndry-ml--auto fndry-btn-learnMoreReverse\">Learn More<\/a><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nicaragua Operations is a series of underground and open-pit mines with ore trucked to one of two mills: Limon and Libertad.<\/p>\n","protected":false},"featured_media":5645,"template":"","our-locations":[60],"class_list":["post-5644","our-mines","type-our-mines","status-publish","has-post-thumbnail","hentry","our-locations-nicaragua"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nicaragua Operations | Equinox Gold<\/title>\n<meta name=\"description\" content=\"&nbsp;2025 Actuals2024 Actuals2023 Actuals2022 Actuals2021 Actuals2020 ActualsGold sold (oz)251,994207,224242,126180,875183,242135,357Cash costs\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.equinoxgold.com\/our-mines\/libertad-gold-mine\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nicaragua Operations | Equinox Gold\" \/>\n<meta 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