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Anaconda Mining Inc.
Summary
| Project: | Goldboro | |
|---|---|---|
| Deposit: | Goldboro | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/7/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 7-2-2018: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Goldboro deposit at the Goldboro project. Drilling results incl. 3.5m @ 34.70g/t Au from 82m. TORONTO, ONTARIO - February 7, 2018 - Anaconda Mining Inc. (“Anaconda” or | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul McNeill (Internal) | |
| ABSTRACT: | TORONTO, ONTARIO - February 7, 2018 - Anaconda Mining Inc. (“Anaconda” or the “Company”) (ANX: TSX) is pleased to announce assay results for the first five holes (BR-17-06 to 10) of an ongoing 6,000- metre diamond drilling program at the Company’s Goldboro Project in Nova Scotia (“Goldboro”), the subject of a recent positive PEA announcement (See press release dated January 17, 2018). The Company has completed eight diamond (BR-17-06 to 13) drill holes totaling 3,553 metres since the commencement of the drill program in October, 2017. The program focused on a combination of down-plunge exploration and infill drilling on three geological sections of the Goldboro Deposit. Each of the drill holes successfully intersected mineralized zones of both the East Goldbrook (“EG Gold System”) and Boston Richardson (“BR Gold System”) gold systems, as demonstrated on cross section 9150E (Exhibit A and B), reinforcing the potential for down-dip and down-plunge extension of the Goldboro Deposit. Assays for the first five holes (BR-17-06 to 10) include multiple occurrences of visible gold and assays with high-grade tenor. Assays are pending for drill holes BR-17-11 to 13. Anaconda continues to achieve successful results at its 100% owned Goldboro Project, following on from the recently announced preliminary economic assessment, which demonstrates a high-grade, long-life project. In our first significant diamond drilling campaign at Goldboro, we’re hitting high-grade intersections and multiple occurrences of visible gold within new areas of drilling down-dip and down-plunge of the known deposit and have extended the plunge of mineralization by as much as 375 metres. With the expansion of mineralization, the Goldboro Deposit is well positioned to grow beyond the current resource, while infill drilling results generate higher confidence in the known mineral resource as well as finding additional mineralized zones not previously modeled.” | |
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