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Anaconda Mining Inc.
Summary
| Project: | Point Rousse | |
|---|---|---|
| Deposit: | Argyle | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/18/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-1-2017: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Argyle deposit at the Point Rousse project. Drilling results incl. 15.0m @ 5.52g/t Au from 34.0m. TORONTO, ONTARIO – January 18, 2017 - Anaconda Mining Inc. ("Anaconda | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul McNeill (Internal) | |
| ABSTRACT: | TORONTO, ONTARIO – January 18, 2017 - Anaconda Mining Inc. ("Anaconda" or the "Company") - (TSX:ANX) is pleased to announce the assay results from the second phase of diamond drilling at the Argyle Prospect (the “Phase 2 Drilling Program”), located at the Point Rousse Project and approximately 4.5 kilometres from the Pine Cove Mill. The Phase 2 Drilling Program consisted of 22 diamond drill holes totaling 2,174 metres where Anaconda was targeting a consistent level of altered and mineralized stratigraphy within the greater Argyle Prospect Area (“Argyle”). The Company intersected gold mineralization within 20 of 22 holes at relatively shallow depths (See Exhibit A), which include the following highlights. Since initial trenching and the first phase of diamond drilling at Argyle, Anaconda has discovered a shallowdipping, near-surface (less than 100 metres), mineralized system close to the Pine Cove Mill, with several intercept grades in core that are higher than the current production grade at the Pine Cove pit (“Higher-Grade Zones”). The Phase 2 Drilling Program has successfully extended the strike length of gold mineralization by about 50% to over 600 metres while more than doubling the down-dip extension to at least 225 metres (Exhibits A and B). Both the strike and down-dip extensions remain open. | |
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