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Anaconda Mining Inc.
Summary
| Project: | Point Rousse | |
|---|---|---|
| Deposit: | Argyle | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/20/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-9-2016: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Argyle deposit at the Point Rousse project. Drilling results incl. 8.9m @ 6.09g/t Au from 35m. TORONTO, ONTARIO – September 20, 2016 - Anaconda Mining Inc. ("Anaconda | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul McNeill (Internal) | |
| ABSTRACT: | TORONTO, ONTARIO – September 20, 2016 - Anaconda Mining Inc. ("Anaconda" or the "Company") - (TSX:ANX) is pleased to announce that recent diamond drilling at the Point Rousse Project’s Argyle Prospect (“Argyle”) intersected gold mineralization in eight of the first ten holes to be reported of the Company’s Argyle exploration program, highlighted by 6.09 grams per tonne (“g/t”) over 8.9 metres in hole AE-16-11 and 4.50 g/t over 6.3 metres in hole AE-16-06. The first phase of the Argyle diamond drilling program is complete and included a total of 1,638 metres of diamond drilling in 22 holes with drill holes testing mineralization from near surface to a depth of approximately 70 metres (the “Argyle Phase I Program”). During the Argyle Phase I Program, alteration was intersected in 20 holes and indicated that Argyle dips shallowly northward at least 100 metres and along strike for 410 metres and remains open at depth and along strike. Assays from the first ten holes indicate that gold mineralization occurs within 33 metres of surface and in the drill section containing holes AE-16-09, -10 and -11, gold mineralization has a dip extent down to at least 80 metres (See Exhibit B). The consistency of the alteration system from hole to hole and the presence of alteration and mineralization in eight of ten holes, though at variable thickness and grades, is significant in that it demonstrates continuity of mineralization along strike and at depth. | |
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