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Anaconda Mining Inc.
Summary
| Project: | Point Rousse | |
|---|---|---|
| Deposit: | Argyle | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/28/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 28-2-2018: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Argyle deposit at the Point Rousse project. Drilling results incl. 8.5m @ 4.85g/t Au from 59.0m. TORONTO, ON – February 28, 2018 – Anaconda Mining Inc. (“Anaconda” or | |
| 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 – February 28, 2018 – Anaconda Mining Inc. (“Anaconda” or the “Company”) – (TSX:ANX) is pleased to provide initial assay results for the first three holes (AE-18-64 to 66; 328 metres) from a recently announced 12-hole, 1,122-metre infill and expansion diamond drill program (See Press Release dated November 29, 2017) from 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). Geological modelling and resource estimation at Argyle demonstrates that the deposit is characterized by multiple high-grade zones or shoots, one of which is located near the center of the deposit and partly defined by holes AE-17-40 and -46 (See Exhibit B, C and press release dated July 13, 2017). Holes AE-18-64 to AE-18-66, drilled from the same set-up, recently tested the limits of this high-grade zone by drilling within Inferred Mineral Resources identified by previous drilling. Anaconda drilled an additional 794 metres in 9 holes at Argyle to infill the deposit, expand the mineralized area and refine high-grade zones. In particular, the Company tested another potential high-grade zone to the east of the known deposit (Exhibit A, holes AE-18-74 and AE-18-75) where it recently intersected 12.47 g/t gold over 5.0 metres in hole AE-17-58 (See press release dated January 15, 2018). Assays for the remaining 9 holes are anticipated in March 2018. | |
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