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Anaconda Mining Inc.
Summary
| Project: | Goldboro | |
|---|---|---|
| Deposit: | East Goldbrook | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/18/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-7-2019: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its East Goldbrook deposit at the Goldboro project. Drilling results incl. 3.0m @ 1.89g/t Au from 20.9m. TORONTO, ON – July 18, 2019 - Anaconda Mining Inc. ("Anaconda" or | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul McNeill (Internal) | |
| ABSTRACT: | TORONTO, ON – July 18, 2019 - Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX: ANX) (OTCQX: ANXGF) is pleased to announce results from nine short diamond drill holes (BR-19-77 to BR-19-85) drilled to test shallow portions of the East Goldbrook Gold System (“EG Gold System”) at the Goldboro Gold Project in Nova Scotia ("Goldboro"). The 607 metres of diamond drilling were part of a larger, recently completed 5,000 metre diamond drill program announced on February 28, 2019 and were designed to test the up-plunge projection of five mineralized zones within the EG Gold System at vertical depths of less than 70 metres, and over a strike-length of approximately 100 metres (the “Drill Program”) (Exhibit A and B). The results of the Drill Program are significant in combination with historical drill results because they occur immediately adjacent to the open-pit under evaluation as part of an on-going Goldboro feasibility study. The Drill Program extended the five mineralized zones to surface over the area of drilling and encountered three instances of visible gold. "The current drill results were successful in expanding five mineralized zones to surface in an area where they were not previously known. Given the shallow depths and proximity of this area to an open pit currently being evaluated as part of the ongoing feasibility study at Goldboro, these results could be important to the pit evaluation and optimization of the Goldboro mine plan. With the recent closure of an equity financing we will be developing additional exploration plans to potentially further expand the Goldboro resource. The remaining results of the 5,000 metre program commenced in February will be released over the next few months" ~Kevin Bullock, CEO, Anaconda Mining Inc. | |
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