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Anaconda Mining Inc.
Summary
| Project: | Point Rousse | |
|---|---|---|
| Deposit: | Pine Cove Mine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/8/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-1-2018: Anaconda Mining Inc. announces a Resource Estimation report for its Pine Cove Mine deposit at the Point Rousse project. Mineral Resource update for the Argyle deposit. January 8, 2018 – Toronto, ON – Anaconda Mining Inc. (“Anaconda” or the “Comp | |
| Resources: | (Reserve, Prob): 887.7Kt @ 1.27g/t Au for 36.18koz contained at Point Rousse | |
| CP/QP: | [Resources]: Michael Cullen (Mercator Geological Services Ltd.) | |
| ABSTRACT: | January 8, 2018 – Toronto, ON – Anaconda Mining Inc. (“Anaconda” or the “Company”) (ANX: TSX) is pleased to announce an initial Mineral Resource Estimate (“Resource”) prepared in accordance with National Instrument 43-101 (“NI 43-101”) for the Argyle Gold Deposit (“Argyle”) at the Point Rousse Project, Newfoundland and Labrador. The Resource is presented below in Table 1 and has an effective date of December 31, 2017. Highlights of the Resource and related developments associated with the deposit are as follows: “It is a big milestone for Anaconda to have outlined another deposit in close proximity to the Pine Cove Mill. At the Point Rousse Project, we have built significant processing capability and tailings capacity while generating over $42 million in project level EBITDA from our mining activities in the last 6 years. To potentially add more local ore feed that can utilize this infrastructure and continue to produce cash flow for the Company is tremendous. Also, Argyle demonstrates our ability to find more mineral resources nearby our mill, even though we have been constrained financially for a number of years. With more investment, we believe we can continue to add more ounces to the Point Rousse Project. As we advance the Goldboro Project in Nova Scotia in parallel with our work at Point Rousse, we move closer to our goal of significantly increasing production company-wide | |
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