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Anaconda Mining Inc.
Summary
| Project: | Point Rousse | |
|---|---|---|
| Deposit: | Stoger Tight | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/27/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-10-2016: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Stoger Tight deposit at the Point Rousse project. Drilling results incl. 3m @ 2.81g/t Au from 49.9m. TORONTO– October 27, 2016 - Anaconda Mining Inc. (“Anaconda” or t | |
| Resources: | (Resource): 204100t @ 3.59g/t Au (Ind.) and 252000t @ 3.27g/t Au (Inf.) at Stog'er Tight deposit | |
| CP/QP: | [Overall Report]: Paul McNeill (Internal) | |
| ABSTRACT: | TORONTO– October 27, 2016 - Anaconda Mining Inc. (“Anaconda” or the “Company”) – (TSX: ANX) is pleased to announce the results of a recently completed 19-hole, 1,347-metre diamond drilling program (the “Phase 1 Drilling Program”) near the Stog’er Tight deposit and approximately 3.5 kilometres from the Pine Cove Mill, focused along a southwestern strike of 850 metres and a width of 300 metres (the “Stog’er Tight Extension Area”), within the Point Rousse Project (See Exhibit A). The results of the Phase 1 Drill Program indicate that key targets of mineralization exist near surface at three areas to the west and southwest of the Stog’er Tight deposit - the 278 Zone, the West Zone and the Massive Sulfide Zone. The Company also identified two new, prospective areas referred to as the Corkscrew Road and Mine Road zones that contain future drill targets. Dustin Angelo, CEO of Anaconda, states, “The goal of the Phase 1 Drilling Program was to test certain targets in the Stog’er Tight Extension Area to determine if mineralization exposed at surface extends to depth. We were successful in extending the strike length and dip extent at the West Zone and discovering a new zone called the 278 Zone. The Massive Sulfide Zone is also intriguing as it has led to a potentially larger target in the Corkscrew Road zone. The Stog’er Tight project as a whole continues to grow, albeit at a slower pace than expected. We are encouraged by the prospectivity of these zones and targets to increase resources and will incorporate them in our future exploration plans.” | |
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