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Anaconda Mining Inc.
Summary
| Project: | Viking | |
|---|---|---|
| Deposit: | Thor | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/13/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-3-2017: Anaconda Mining Inc. announces an Exploration/Drilling Update report for its Thor deposit at the Viking project. Drilling results incl. 6.0m @ 2.73g/t Au from 14.4m. Anaconda Mining Inc. ("Anaconda" or the "Company") - (TSX:ANX) is pleased to a | |
| Resources: | (Resource): 83koz (Ind.)and 31koz (Inf.) at Thor | |
| CP/QP: | [Overall Report]: Paul McNeill (Internal) | |
| ABSTRACT: | Anaconda Mining Inc. ("Anaconda" or the "Company") - (TSX:ANX) is pleased to announce it has completed the first phase of exploration (the “Phase 1 Exploration Program”) at its Viking Project (“Viking”) located on the Northern Peninsula near Sop’s Arm, Newfoundland. The Phase 1 Exploration Program was focused on three general target areas: the north and south strike extensions of the Thor Deposit, Thor’s Cross and the Viking Trend, with the primary goal of demonstrating the potential to significantly grow the resource base at the Viking Project (Exhibit A). The program consisted of a review of previously drilled core and geochemical characterization of the Thor Deposit, geological mapping, 4,136 metres of diamond drilling and the reprocessing of historic magnetic and ground IP geophysical data. Anaconda was successful in extending the strike length of the Thor Deposit and outlined broad zones of mineralization at the Viking Trend along with discovering new mineralization at Thor’s Cross. The Viking Trend and Thor’s Cross also contained localized high grade intersections (Exhibit B). Anaconda’s diamond drill results confirm a widespread mineralized system exists throughout the areas of the Viking Project that have been tested by the Company. There are broad zones of lower-grade mineralization along with narrow zones of higher grade mineralization. In addition, historic drill results reaffirm this notion in similar areas and areas that have not yet been drilled by Anaconda. It’s significant because it demonstrates that the gold mineralization process is occurring over a wide area, which raises the potential of finding additional mineral resources. The tables below contain certain current and historic diamond drill results from selected areas that illustrate the occurrence of varying gold tenor over a large area | |
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