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Anaconda Mining Inc.
Summary
| Project: | Goldboro | |
|---|---|---|
| Deposit: | Goldboro | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-7-2017: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Goldboro deposit at the Goldboro project. Drilling results incl. 2.6m @ 485.07g/t Au from 33.1m. TORONTO, ONTARIO - July 27, 2017 - Anaconda Mining Inc. (“Anaconda” or | |
| Resources: | (Resource, M+I): 2.556Mt @ 5.57g/t Au for 457400oz Au contained at project | |
| CP/QP: | [Overall Report]: Paul Mcneil (Internal) | |
| ABSTRACT: | TORONTO, ONTARIO - July 27, 2017 - Anaconda Mining Inc. (“Anaconda” or the “Company”) (ANX: TSX) is pleased to announce it has received the results of its first drill program at the Company’s Goldboro Project (“Goldboro”) in the Province of Nova Scotia, which contains a Measured and Indicated Mineral Resource of 457,400 gold ounces at a grade of 5.57 grams per tonne (“g/t”) gold (2,556,000 tonnes) and an Inferred Mineral Resource of 372,900 gold ounces at a grade of 4.35 g/t gold (2,669,000 tonnes) (2.0 g/t gold cut-off, see press release of March 3, 2017). The five-hole diamond drill program, totaling 649 metres, was conducted in the Boston Richardson and East Goldbrook gold systems of the Goldboro Deposit (Exhibit A). Multiple occurrences of visible gold and assays with high-grade tenor were observed in all five holes. Assay highlights from the program, including the highest grades yet recorded at Goldboro, are as follows: “The discovery of the highest-grade gold intercepts at Goldboro, amongst multiple other, high-grade intercepts, and the recognition of the growth potential down-plunge and along strike, make the Goldboro Project an exciting opportunity for Anaconda, its shareholders and other stakeholders. As with historical exploration work, we continue to see significantly high-grades and very good thickness in the drill core. We are encouraged by the predictable geological model, which gives us confidence in the mineral resource and our ability to expand the deposit. Over the coming months, we expect to plan and initiate additional drilling to demonstrate the mineral expansion potential of Goldboro.” | |
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