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Anaconda Mining Inc.
Summary
| Project: | Point Rousse | |
|---|---|---|
| Deposit: | Argyle | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/22/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-3-2018: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Argyle deposit at the Point Rousse project. Drilling results incl. 7m @ 7.87g/t Au from 44m. TORONTO, ON – March 22, 2018 – Anaconda Mining Inc. (“Anaconda” or the “Co | |
| Resources: | (Resource): 0.543Mt @ 2.19g/t Au (Ind.) and 0.517Mt @ 1.82g/t Au (Inf.) at Argyle | |
| CP/QP: | [Overall Report]: Paul McNeill (Internal) | |
| ABSTRACT: | TORONTO, ON – March 22, 2018 – Anaconda Mining Inc. (“Anaconda” or the “Company”) – (TSX:ANX) is pleased to provide assay results for the remaining 9 holes (AE-18-67 to -75; 794 metres) from a recently announced 12-hole, 1,122-metre infill and expansion diamond drill program (See Press Release dated November 29, 2017) at 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). Hole AE-18-74 intersected 7.87 grams per tonne (“g/t”) gold over 7.0 metres (from 44.0 – 51.0 metres) and is located approximately 50 metres south of the previously reported hole AE-17-58, which intersected 12.47 g/t gold over 5.0 metres (See press release of January 15, 2018). These holes are located 85 metres east of previous drilling at Argyle and together define another high-grade zone. The zone is fault bounded, occurs at a shallow depth, and has a relative elevation indicating that the plunge of this high-grade zone is shallower than typically found at Argyle. Consequently, Anaconda believes that this high-grade zone may continue to the northeast and southwest. This hypothesis will be tested in subsequent drilling. “With only a modest amount of drilling, we continue to expand the Argyle deposit. Through holes AE-17-58 and -74, we have not only expanded the deposit, but also discovered another high-grade zone that remains open for expansion. Equally important, the program also has built confidence in the current resource model through infill drilling. We will conduct ground geophysical surveys beyond the area of the deposit and recent drilling, to better target extensions of the deposit, in particular the high- grade zones.” Dustin Angelo, President and CEO said. | |
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