For thousands of other reports visit RSC's Mineral Intellingence Map

Anaconda Mining Inc.

opaxe

Summary

Project:

Goldboro

Deposit:Goldboro
Location:Canada
Commodities:Gold
Date:11/13/2018
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Environmental Approval
Report details:13-11-2018: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Goldboro deposit at the Goldboro project. Drilling results incl. 8.0m @ 8.79g/t Au from 483.0m. TORONTO, November 13, 2018 /CNW/ - Anaconda Mining Inc. ("Anaconda" or
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Paul McNeill (Internal)
ABSTRACT:TORONTO, November 13, 2018 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX: ANX) (OTCQX: ANXGF) is pleased to announce initial drill results from a 10,000-metre drill program that began in July 2018 (the "Drill Program") at the Goldboro Gold Project in Nova Scotia ("Goldboro"). Six drill holes (BR-18-44 to 49; 3,237 metres) successfully targeted a previously untested deeper area of the Boston Richardson Gold System ("BR Gold System") over 350 metres of strike and to depths of 525 metres (Exhibit A and B). Drilling expanded two mineralized zones an additional 200 metres along strike and expanded five other zones over 350 metres along strike. The Company observed nineteen occurrences of visible gold in the six drill holes and the character of the mineralization in those holes is consistent with results seen throughout the BR Gold System to date. The BR Gold System remains open for further expansion at depth and down plunge. A full table of composited assays from recent drilling is presented below. "We have demonstrated further expansion of the Goldboro Deposit, particularly in the Boston Richardson Gold System, and discovered that mineralization continues to at least to 525 metres. These results demonstrate the growth potential of the Goldboro Deposit, coming on the heels of an updated Mineral Resource estimate that highlighted a 15% increase of Measured and Indicated Resources to over 600,000 ounces, and a 30% increase of Inferred Resources to 450,000 ounces. Having successfully completed our goal of expanding the Boston Richardson Gold System, we have recently begun drilling at West Goldbrook with the aim of infill drilling critical portions of this area to upgrade Inferred Resources and to test the expansion potential to depths of 400 metres. We have completed approximately 75% of our 10,000-metre drill program which we expect to wrap up by year end. The results of this Drill Program will be used to update the Mineral Resource estimate, and will be incorporated into a feasibility study for Goldboro.”

Full Report

opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.

Full Report