TORONTO, April 5, 2018 /CNW/ - Anaconda Mining Inc.
("Anaconda" or the "Company") (ANX: TSX) is pleased
to announce assays from six drill holes (1,391 metres) of an
ongoing, expanded 30 drill hole (7,200 metres) diamond drill
program (the "Drill Program") at the Company's Goldboro
Project in Nova Scotia
("Goldboro"). The six drill
holes targeted four cross sections (9450E, 9500E, 9550E and 9650E)
at the eastern end of the Goldboro Deposit, within the East
Goldbrook Gold System ("EG Gold System"). Recent
drilling has extended the existing mineralized zones down-dip to
the north and has also expanded the EG Gold System 100 metres east
of the current Mineral Resource including the discovery of new
mineralized zones above the known EG Gold System.
Recent highlight assays of the Drill Program include:
- 252.76 grams per tonne ("g/t") gold over 0.4 metres (76.6 to
77.0 metres) in hole BR-18-15;
- 31.04 g/t gold over 1.0 metres (6.2 to 7.2 metres) in hole
BR-18-17;
- 12.87 g/t gold over 2.0 metres (130.6 to 132.6 metres) in
hole BR-18-18; and
- 25.31 g/t gold over 1.0 metres (62.0 to 63.0 metres) in hole
BR-18-18.
Highlight assays from historic drilling on these same sections
include:
- 137.77 g/t gold over 1.5 metres (117.0 to 118.5 metres) in
hole OSK11-02;
- 31.85 g/t gold over 1.5 metres (219.5 to 221.0 metres) in
hole BR-08-32;
- 15.85 g/t gold over 1.0 metres (104.1 to 105.1 metres) in
hole BR-87-12; and
- 3.74 g/t gold over 6.6 metres (111.9 to 118.5 metres) in
hole BR-87-12.
In addition to historic assays from these sections, historic
results have also intersected 215.74 g/t gold over 3.65 metres in
hole OSK 11-04, located 250 metres east of our current Drill
Program.
"We are taking a systematic approach to infill and expansion
drilling at Goldboro allowing us
to assess the geological continuity of the deposit, upgrade the
resource model, and discover new zones of mineralization. We are
very encouraged that we have been able to replicate similar
historical drilling results, and by the discovery of new
mineralization east of East Goldbrook, which demonstrates the
potential for resource expansion along strike. Our approach
is beginning to provide geological context for previously isolated
high-grade assays such as intersections within hole OSK 11-02
located on section 9650E and hole OSK 11-04 located 250 metres east
of our current drilling. The Drill Program will continue to focus
on expanding the East Goldbrook and Boston-Richardson Gold Systems,
and we remain very optimistic about our ability to expand the
Goldboro Deposit."
~Dustin Angelo, President and
CEO, Anaconda Mining Inc.
The Company continues to await assay results on drill holes
BR-18-11, BR-18-12, and BR-18-13. BR-18-11 will be reported on
cross section 9100E, along with holes BR-18-20 to -23. Drill holes
BR-18-12 and -13 will be reported on section 9250E with holes
BR-18-24 and -25.
Section 9450E
Significant intersections from the Drill Program and selected
highlights from historic drilling on 9450E include:
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Gold
System
|
Visible
Gold
|
|
BR-18-17
|
6.2
|
7.2
|
1.0
|
31.04
|
E.G.
|
|
Current
|
and
|
19.0
|
19.5
|
0.5
|
1.15
|
E.G.
|
|
and
|
87.4
|
88.4
|
1.0
|
0.74
|
E.G.
|
|
and
|
160.4
|
161.0
|
0.6
|
1.62
|
E.G.
|
|
BR-18-18
|
9.5
|
10.0
|
0.5
|
2.16
|
E.G.
|
|
and
|
62.0
|
63.0
|
1.0
|
25.31
|
E.G.
|
|
and
|
114.2
|
114.7
|
0.5
|
2.49
|
E.G.
|
|
and
|
130.6
|
132.6
|
2.0
|
12.87
|
E.G.
|
v.g.
|
and
|
139.0
|
142.0
|
3.0
|
1.87
|
E.G.
|
|
including
|
141.1
|
141.5
|
0.4
|
10.35
|
E.G.
|
v.g.
|
and
|
151.9
|
152.6
|
0.7
|
0.66
|
E.G.
|
|
and
|
170.4
|
170.8
|
0.4
|
3.04
|
E.G.
|
|
and
|
190.2
|
190.7
|
0.5
|
18.22
|
E.G.
|
|
and
|
196.0
|
196.5
|
0.5
|
0.64
|
E.G.
|
|
and
|
197.5
|
198.1
|
0.6
|
0.77
|
E.G.
|
|
BR87-12
|
103.6
|
105.6
|
2.0
|
8.07
|
E.G.
|
v.g.
|
Historical
|
including
|
104.1
|
105.1
|
1.0
|
15.75
|
E.G.
|
|
including
|
104.1
|
104.4
|
0.3
|
9.60
|
E.G.
|
|
including
|
104.4
|
105.1
|
0.7
|
18.51
|
E.G.
|
|
and
|
111.9
|
118.5
|
6.6
|
3.74
|
E.G.
|
|
including
|
116.4
|
117.0
|
0.7
|
27.77
|
E.G.
|
|
BR08-29
|
177.5
|
177.8
|
0.3
|
10.20
|
E.G.
|
v.g.
|
BR87-02
|
480.9
|
484.0
|
3.1
|
2.96
|
E.G.
|
|
including
|
482.0
|
482.1
|
0.1
|
9.30
|
E.G.
|
|
including
|
482.1
|
482.8
|
0.7
|
5.10
|
E.G.
|
|
including
|
483.1
|
483.4
|
0.3
|
5.98
|
E.G.
|
|
Recent drilling on section 9450E intersected eight mineralized
zones within the EG Gold System, confirming the results of historic
drilling in the area. Hole BR-18-17 and BR-18-18 outlined four new
mineralized zones within this section and extended the dip of
another zone. The down dip extensions of the limbs remain open for
further extension within section 9450E.
Section 9500E
Significant intersections from the Drill Program and selected
highlights from historic drilling on 9500E include:
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Gold
System
|
Visible
Gold
|
|
BR-18-14
|
95.5
|
96.0
|
0.5
|
0.82
|
E.G.
|
v.g.
|
Current
|
BR-18-19
|
40.8
|
41.6
|
0.8
|
2.41
|
E.G.
|
|
and
|
73.3
|
74.0
|
0.7
|
4.70
|
E.G.
|
|
and
|
107.0
|
108.0
|
1.0
|
1.35
|
E.G.
|
|
and
|
170.2
|
171.2
|
1.0
|
1.14
|
E.G.
|
|
and
|
209.5
|
210.0
|
0.5
|
0.73
|
E.G.
|
|
and
|
222.5
|
223.2
|
0.7
|
0.57
|
E.G.
|
|
BR08-31
|
23.0
|
29.0
|
6.0
|
1.17
|
E.G.
|
|
Historical
|
and
|
53.5
|
54.0
|
0.5
|
15.27
|
E.G.
|
|
and
|
128.0
|
129.5
|
1.5
|
3.17
|
E.G.
|
v.g.
|
including
|
128.5
|
128.8
|
0.3
|
10.00
|
E.G.
|
v.g.
|
and
|
209.0
|
209.5
|
0.5
|
7.08
|
E.G.
|
|
and
|
228.5
|
229.0
|
0.5
|
22.50
|
E.G.
|
|
BR08-32
|
63.0
|
64.5
|
1.5
|
2.75
|
E.G.
|
|
including
|
63.0
|
63.5
|
0.5
|
6.75
|
E.G.
|
|
and
|
165.5
|
169.8
|
4.3
|
0.95
|
E.G.
|
|
and
|
219.5
|
221.0
|
1.5
|
31.48
|
E.G.
|
v.g.
|
including
|
219.5
|
219.8
|
0.3
|
142.50
|
E.G.
|
|
Recent drilling on section 9500E intersected seven mineralized
zones, including three new mineralized zones above the previously
known extents of the EG Gold System. The down dip extensions of the
limbs remain open for further extension.
Section 9550E
Significant intersections from the Drill Program, previously
reported drill hole BR-18-07 and selected highlights from historic
drilling on 9550E include:
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Gold
System
|
Visible
Gold
|
|
BR-18-15
|
76.6
|
77.0
|
0.4
|
252.76
|
E.G.
|
v.g.
|
Current
|
and
|
139.0
|
142.6
|
3.6
|
0.88
|
E.G.
|
|
including
|
140.8
|
142.6
|
1.8
|
1.32
|
E.G.
|
|
and
|
177.0
|
177.6
|
0.6
|
4.52
|
E.G.
|
v.g.
|
and
|
188.0
|
189.0
|
1.0
|
1.74
|
E.G.
|
|
and
|
209.0
|
209.5
|
0.5
|
0.75
|
E.G.
|
|
BR-17-07
|
219.5
|
220.0
|
0.5
|
0.80
|
E.G.
|
|
Previously
Reported
|
and
|
245.9
|
246.4
|
0.5
|
0.96
|
E.G.
|
|
and
|
313.4
|
313.9
|
0.5
|
2.05
|
E.G.
|
|
and
|
329.0
|
329.6
|
0.6
|
2.23
|
E.G.
|
|
and
|
351.6
|
352.1
|
0.5
|
0.79
|
E.G.
|
|
and
|
358.7
|
359.2
|
0.5
|
0.61
|
E.G.
|
|
and
|
378.9
|
381.9
|
3.0
|
1.46
|
E.G.
|
|
and
|
384.9
|
385.6
|
0.7
|
1.45
|
E.G.
|
|
and
|
386.6
|
388.1
|
1.5
|
2.23
|
E.G.
|
|
including
|
387.6
|
388.1
|
0.5
|
5.76
|
E.G.
|
|
and
|
407.0
|
407.5
|
0.5
|
0.87
|
E.G.
|
|
and
|
417.9
|
418.8
|
0.9
|
0.57
|
E.G.
|
|
and
|
449.2
|
449.7
|
0.5
|
0.69
|
E.G.
|
|
and
|
547.9
|
548.5
|
0.6
|
0.83
|
E.G.
|
|
and
|
579.0
|
579.5
|
0.5
|
0.71
|
E.G.
|
|
BR87-09
|
66.5
|
67.4
|
0.8
|
5.49
|
E.G.
|
|
Historic
|
and
|
344.5
|
345.5
|
1.0
|
8.57
|
E.G.
|
|
and
|
346.7
|
347.2
|
0.4
|
3.33
|
E.G.
|
|
Recent drilling on section 9550E intersected eight mineralized
zones including three above the previously known extents of the EG
Gold System. Hole BR-18-15 intersected the same three newly
discovered mineralized zones encountered in the north limb of
section 9500E, but with higher grades. The down dip extensions of
the limbs remain open for further extension within section 9550E
and to the east of this section.
Section 9650E
Significant intersections from the Drill Program and selected
highlights from historic drilling on 9650E include:
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Gold
System
|
Visible
Gold.
|
|
BR-18-16
|
23.5
|
24.0
|
0.5
|
0.73
|
E.G.
|
|
Current
|
and
|
189.1
|
189.7
|
0.6
|
11.59
|
E.G.
|
v.g.
|
and
|
315.6
|
318.5
|
2.9
|
2.23
|
E.G.
|
|
including
|
315.6
|
316.1
|
0.5
|
8.88
|
E.G.
|
|
OSK11-01
|
36.0
|
37.0
|
1.0
|
1.82
|
E.G.
|
|
Historical
|
and
|
43.9
|
46.0
|
2.2
|
0.96
|
E.G.
|
|
and
|
61.0
|
62.0
|
1.0
|
0.76
|
E.G.
|
|
and
|
86.0
|
88.0
|
2.0
|
1.81
|
E.G.
|
|
and
|
128.0
|
130.0
|
2.0
|
0.58
|
E.G.
|
|
OSK11-02
|
117.0
|
118.5
|
1.5
|
137.77
|
E.G.
|
v.g.
|
including
|
117.0
|
117.5
|
0.5
|
412.00
|
E.G.
|
v.g.
|
and
|
179.5
|
183.0
|
3.5
|
1.76
|
E.G.
|
v.g.
|
including
|
182.0
|
183.0
|
1.0
|
4.55
|
E.G.
|
|
and
|
235.5
|
236.5
|
1.0
|
2.28
|
E.G.
|
|
Recent drilling on section 9650E intersected six mineralized
zones 100 metres east of the Goldboro Deposit and confirms that the
mineralized structure hosting the EG Gold System continues to the
east. These mineralized zones are located structurally above the EG
Gold System and represent mineralization not previously associated
with the Goldboro Deposit. Historic hole OSK11-02 intersected
137.77 g/t gold over 1.5 metres in this area demonstrating that
locally very high-grades exist. Drill holes OSK11-03 and OSK11-04
are located approximately 250 metres east of section 9650E and
intersected multiple mineralized zones including 215.74 g/t gold
over 3.6 metres. Further drilling is required to determine if the
same structure hosting the EG Gold System continues to the east of
the historic drilling or if the new mineralized zones and the
intersections in OSK 11-03 and -04 are within a new gold
system.
This news release has been reviewed and approved by
Paul McNeill, P. Geo., VP
Exploration with Anaconda Mining Inc., a "Qualified Person", under
National Instrument 43-101 Standard for Disclosure for Mineral
Projects.
All samples and the resultant composites referred to in this
release are collected using QA/QC protocols including the regular
insertion of standards and blanks within the sample batch for
analysis and check assays of select samples. All samples quoted in
this release were analyzed at Eastern Analytical Ltd.("Eastern") in
Springdale, NL, for Au by fire
assay (30g) with an AA finish.
Samples analyzing greater than 0.5 g/t Au via 30 g fire assay
were re-analyzed at Eastern. via total pulp metallic. For the
total pulp metallic analysis, the entire sample is crushed to
-10mesh and pulverized to 95% -150mesh. The total sample is then
weighed and screened to 150mesh. The +150mesh fraction is fire
assayed for Au, and a 30g subsample of the -150mesh fraction
analyzed via fire assay. A weighted average gold grade is
calculated for the final reportable gold grade. Anaconda
considers total pulp metallic analysis to be more representative
than 30 g fire assay in coarse gold systems such as the
Goldboro deposit.
Reported mineralized intervals are measured from core
lengths. Intervals are estimated to be approximately 50-100%
of true widths of the mineralized zones.
A version of this press release will be available in French on
Anaconda's website (www.anacondamining.com) in two to three
business days.
ABOUT ANACONDA MINING INC.
Anaconda is a TSX-listed gold mining, exploration and
development company, focused in the prospective Atlantic Canadian
jurisdictions of Newfoundland and
Nova Scotia. The Company operates
the Point Rousse Project located in the Baie Verte Mining District
in Newfoundland, comprised of the
Pine Cove open pit mine, the fully-permitted Pine Cove Mill and
tailings facility, the Stog'er Tight and Argyle deposits, and
approximately 5,800 hectares of prospective gold-bearing property.
Anaconda is also developing the recently acquired Goldboro Project
in Nova Scotia, a high-grade
Mineral Resource, with the potential to leverage existing
infrastructure at the Company's Point Rousse Project.
The Company also has a pipeline of organic growth opportunities,
including the Great Northern Project on the Northern Peninsula and
the Tilt Cove Property on the Baie Verte
Peninsula.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information"
within the meaning of applicable Canadian and United States securities legislation.
Forward-looking information includes, but is not limited to, the
Company's future exploration, development and operational plans.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects", or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "does not anticipate", or
"believes" or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would",
"might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates
of management at the date the information is made, and is based on
a number of assumptions and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Anaconda to be
materially different from those expressed or implied by such
forward-looking information, including risks associated with the
exploration, development and mining such as economic factors as
they effect exploration, future commodity prices, changes in
foreign exchange and interest rates, actual results of current
production, development and exploration activities, government
regulation, political or economic developments, environmental
risks, permitting timelines, capital expenditures, operating or
technical difficulties in connection with development activities,
employee relations, the speculative nature of gold exploration and
development, including the risks of diminishing quantities of
grades of resources, contests over title to properties, and changes
in project parameters as plans continue to be refined as well as
those risk factors discussed in Anaconda's annual information form
for the year ended December 31, 2017,
available on www.sedar.com. Although Anaconda
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. Anaconda does
not undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE Anaconda Mining Inc.