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Anaconda Mining Inc.
Summary
| Project: | Point Rousse | |
|---|---|---|
| Deposit: | Argyle | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-1-2018: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Argyle deposit at the Point Rousse project. Drilling results incl. 5m @ 12.47g/t Au from 54.5m. TORONTO, ONTARIO – January 15, 2018 – Anaconda Mining Inc. (“Anaconda” | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul McNeill (Internal) | |
| ABSTRACT: | TORONTO, ONTARIO – January 15, 2018 – Anaconda Mining Inc. (“Anaconda” or the “Company”) – (TSX:ANX) is pleased to provide initial assay results for the recently announced diamond drill program (See Press Release dated November 29, 2017) near the Argyle deposit (“Argyle”), located approximately 4.5 kilometres from the Company’s fully-operational Pine Cove Mill and tailings facility at the Point Rousse Project, Newfoundland and Labrador (See Exhibit A). The highlight of the drilling near Argyle includes 12.47 grams per tonne (“g/t”) gold over 5.0 metres in hole AE-17-58 located 85 metres east of the current Argyle resource. “On the heels of announcing the Argyle resource, we have discovered that the deposit continues at least another 85 metres east, and approximately 40 metres from surface, demonstrating the strike of the deposit is at least 15 percent greater than previously known. Furthermore, the significant grade of this new intercept could indicate we are within another high-grade shoot similar to what has been observed elsewhere in the deposit. We plan to test the high-grade shoot concept in our next round of drilling.” ~ Dustin Angelo, President and CEO Six diamond drill holes, totaling 816 metres, were drilled east of Argyle (See Exhibit A). Two holes intersected mineralization and two intersected Argyle style alteration while the remainder did not because the strike of the geology (“Argyle Trend”) changed to the east of the deposit. It is interpreted that the Argyle Trend changes from generally an east-west trend to a Northeast-Southwest trend (See Exhibit A). To better target mineralization and track the trend farther east, the Company plans to conduct a ground magnetic and IP survey in the next few months. These geophysical techniques were integral in identifying the initial Argyle deposit. | |
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