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:10/25/2018
Report Code:NI43-101
Report Type:PEA
Project Stage:Pursuing Environmental Approval
Report details:25-10-2018: Anaconda Mining Inc. announces a PEA report for its Goldboro deposit at the Goldboro project. Updated PEA results incl. post-tax NPV of US $88M (5%), IRR of 29.3%, update mineral resource. Toronto, ON – October 25, 2018 – Anaconda Mining Inc.
Resources:(not mentioned in this report)
CP/QP:[Resources]: Todd McCracken (WSP Canada Inc.)
ABSTRACT:Toronto, ON – October 25, 2018 – Anaconda Mining Inc. (“Anaconda” or the “Company”) (ANX: TSX)(OTCQX: ANXGF) is pleased to announce an update to the Mineral Resource Estimate (“Mineral Resource”) prepared in accordance with National Instrument 43-101 (“NI 43-101”) for the 100% owned Goldboro Gold Project (“Goldboro” or the “Project”) located in Nova Scotia, Canada. The following table summarizes the updated Mineral Resource and comparative change from the previous Mineral Resource dated December 31, 2017. The schematic below further illustrates the areas of growth compared to the previous Mineral Resource. Anaconda is also pleased to report updated after-tax economics with respect to the Preliminary Economic Assessment study (“PEA”) on Goldboro. The change in after-tax economics reflects the confirmation with the Nova Scotia Department of Natural Resources of the application of a mineral royalty tax of a 1% net smelter return on gold production, which supersedes the higher mineral tax applied in the Previous Report. All dollar amounts are expressed in Canadian dollars unless otherwise noted. “The updated Mineral Resource is a significant milestone validating our investment thesis in Atlantic Canada. When we acquired Goldboro in 2017, we believed that the deposit had substantial potential to expand. In our first campaign of over 12,000 meters of drilling, most of which was infill, we were able to increase Measured and Indicated Resources by 15% and Inferred Resources by 30%. Now the deposit contains over 600,000 ounces of Measured and Indicated Resources and over 450,000 ounces of Inferred Resources. More importantly, grade has improved significantly and confidence in the Mineral Resource has risen, highlighted by a 447% increase of ounces in the Measured category. The deposit has only been drilled to relatively shallow depths and is open along strike, down dip, and at depth. We are gaining experience and confidence with the resource and geologic structures, and believe we can continue to grow the deposit to a much larger scale.” ~ Dustin Angelo, President and CEO

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