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Anaconda Mining Inc.
Summary
| Project: | Point Rousse | |
|---|---|---|
| Deposit: | Stoger Tight | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 6/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 7-6-2016: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Stoger Tight deposit at the Point Rousse project. Percussion drilling results incl. 9m @ 8.93g/t Au from 0m. TORONTO– June 7, 2016 - Anaconda Mining Inc. (“Anaconda” or | |
| 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– June 7, 2016 - Anaconda Mining Inc. (“Anaconda” or the “Company”) – (TSX: ANX) recently outlined and processed 7,880 tonnes of high-grade ore (the “High-Grade Sample”) from the East Zone (Exhibit A), which is thought to be the continuation of the Stog’er Tight Deposit (“Stog’er Tight” or the “Deposit”) (see press release of December 17, 2015). The Company processed the High-Grade Sample along with 2,111 tonnes of relatively lower-grade ore (the “Processed Sample”) from the eastern portion of the Stog’er Tight Deposit to produce a mill head grade of 3.08 grams per tonne (“g/t”) gold, nearly double the grade currently coming from the Pine Cove Pit. Mill recovery of the Processed Sample was 83.2%, yielding a total of 823.6 ounces of gold. The Processed Sample was excavated over several days, trucked 3.5 kilometres to the Pine Cove mill and processed from May 8th through May 15th. The recovered gold generated $1.3M in revenue. Dustin Angelo, CEO of Anaconda, states, “Because of the robust grade in this sample, we were able to generate 823.6 ounces in just a week, which is approximately two and a half times our typical production rate. The results demonstrate the tremendous leverage our operation can get from highergrade ore. We see potential to find more high-grade ore in the East Zone along strike of this highgrade area and at depth. Our near-term efforts will concentrate on outlining more of this zone, as well as other sources of high-grade resources, and processing the ore to maximize gold production and profits.” | |
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