TORONTO, June 18, 2018 /CNW/ - Anaconda Mining Inc.
("Anaconda" or the "Company") (TSX: ANX; OTCQX:
ANXGF) is pleased to announce assay results from six drill holes
(695 metres), as part of 11,588 metres of diamond drilling
completed since October 2017 (the
"Drill Program") at the Company's Goldboro Gold Project in
Nova Scotia ("Goldboro"). The six drill holes (BR-18-35
to BR-18-40) targeted two specific areas of the Boston-Richardson
Gold System ("BR Gold System") as a potential site for a
future underground bulk sample and to confirm the existing
geological modelling in the area within, and adjacent to, an open
pit outlined within a recent Preliminary Economic Assessment
("PEA") filed on March 2, 2018, and
available on SEDAR at www.sedar.com and on the Company's
website at www.anacondamining.com.
Highlights of the composited assays from the Drill Program on
sections 8725E and 8775E include:
- 21.05 grams per tonne ("g/t") gold over 11.5 metres (77.5 to
89.0 metres) in hole BR-18-37;
- 17.41 g/t gold over 7.5 metres (93.5 to 101.0 metres) in
hole BR-18-39;
- 2.73 g/t gold over 15.0 metres (106.0 to 121.0 metres) in
hole BR-18-36 including 9.3 g/t gold over 1.0 metres;
- 23.74 g/t gold over 1.5 metres (104.0 to 105.5 metres) in
hole BR-18-37;
- 3.69 g/t gold over 9.0 metres (38.0 to 47.0 metres) in hole
BR-18-40 including 32.09 g/t gold over 0.5 metres; and
- 64.08 g/t gold over 2.6 metres (44.4 to 47.0 metres) in hole
BR-17-03 (previously reported*).
The holes were drilled from surface to intersect several
previously modelled zones of mineralization adjacent to existing
underground exploration drifts ("Historical Workings"), and
along cross sections 8725E and 8775E (Exhibits A, B and C).
Previous exploration work and results from Historical Workings
indicated the presence of high-grade mineralization in these areas,
though the core was no longer available to observe the
mineralization or to confirm its exact location relative to the
Historical Workings.
The Drill Program was successful in confirming mineralization
modelled from previous drilling as well as repeating observations
of the geological setting as outlined in previous exploration
efforts and in Historical Workings. The drilling also intersected
several broad zones of moderate to high-grade mineralization, many
of which are within or immediately adjacent to the current open pit
design outlined in the recent PEA. Five occurrences of visible gold
were also observed.
Select highlights of composited assays from historic drilling on
sections 8725E and 8775E include:
- 14.86 g/t gold over 17.5 metres (169.0 to 186.5 metres) in
hole BR-08-02;
- 16.02 g/t gold over 10.8 metres (39.9 to 50.6 metres) in
hole 90-U-104;
- 7.44 g/t gold over 14.0 metres (3.7 to 17.7 metres) in hole
89-U-05;
- 9.51 g/t gold over 5.0 metres (65.0 to 70.0 metres) in hole
BR-05-15; and
- 5.55 g/t gold over 7.5 metres (64.0 to 71.5 metres) in hole
BR-08-01.
A full table of composited assays from recent drilling is
presented below as well as intervals from select historic drill
holes for sections 8725E and 8775E.
"We continue to get tremendous results from our drill program
at Goldboro, demonstrating the
significant upside potential of what is already an attractive,
profitable development project. The results of the Drill Program
validate the resource model in this area of the BR Gold System and
demonstrate that the mineralization has significant, double-digit
grade and thickness associated with the modelled zones. Of greater
consequence is the fact that the multiple, thick zones of
mineralization encountered in this Drill Program fall within or
near a designed open-pit outlined within the Preliminary Economic
Assessment published last winter. Furthermore, the drilling
adjacent to the Historic Workings provides the direct observation
and information required to complete engineering designs for a
future bulk sample at Goldboro, as
part of ongoing work towards feasibility."
~Dustin Angelo, President and
CEO, Anaconda Mining Inc.
Table of composited assays from section 8725E
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Gold
(g/t)
|
Gold
System
|
Visible
Gold
|
|
BR-18-35
|
28.0
|
29.0
|
1.0
|
0.93
|
BR
|
|
Current
|
and
|
40.0
|
40.6
|
0.6
|
44.18
|
BR
|
|
BR-18-36
|
14.0
|
15.0
|
1.0
|
9.32
|
BR
|
vg
|
and
|
68.5
|
69.0
|
0.5
|
0.84
|
BR
|
|
and
|
69.5
|
70.5
|
1.0
|
3.94
|
BR
|
|
and
|
72.5
|
73.5
|
1.0
|
1.65
|
BR
|
|
and
|
75.0
|
76.5
|
1.5
|
4.27
|
BR
|
|
and
|
80.5
|
82.5
|
2.0
|
2.47
|
BR
|
|
and
|
84.0
|
85.5
|
1.5
|
10.67
|
BR
|
|
and
|
93.5
|
96.0
|
2.5
|
3.24
|
BR
|
|
and
|
106.0
|
121.0
|
15.0
|
2.73
|
BR
|
vg
|
including
|
106.5
|
107.5
|
1.0
|
9.30
|
BR
|
|
and
|
124.5
|
125.5
|
1.0
|
1.73
|
BR
|
|
and
|
143.5
|
144.5
|
1.0
|
0.56
|
BR
|
|
and
|
152.0
|
152.5
|
0.5
|
25.50
|
BR
|
|
and
|
157.0
|
158.0
|
1.0
|
0.64
|
BR
|
|
BR-18-37
|
30.0
|
32.0
|
2.0
|
4.15
|
BR
|
|
including
|
30.0
|
30.5
|
0.5
|
12.82
|
BR
|
|
and
|
77.5
|
89.0
|
11.5
|
21.05
|
BR
|
|
including
|
79.0
|
79.5
|
0.5
|
298.08
|
BR
|
|
and
|
87.0
|
87.5
|
0.5
|
94.15
|
BR
|
|
and
|
94.5
|
97.5
|
3.0
|
1.13
|
BR
|
|
and
|
100.5
|
101.0
|
0.5
|
2.43
|
BR
|
|
and
|
104.0
|
105.5
|
1.5
|
23.74
|
BR
|
|
including
|
104.5
|
105.0
|
0.5
|
67.08
|
BR
|
|
and
|
118.0
|
120.0
|
2.0
|
2.99
|
BR
|
|
including
|
118.0
|
118.5
|
0.5
|
7.63
|
BR
|
|
and
|
129.0
|
130.0
|
1.0
|
2.00
|
BR
|
|
BR-18-40
|
38.0
|
47.0
|
9.0
|
3.69
|
BR
|
vg
|
including
|
42.8
|
43.3
|
0.5
|
32.09
|
BR
|
vg
|
and
|
46.5
|
47.0
|
0.5
|
12.88
|
BR
|
|
BR-17-03
|
17.4
|
17.9
|
0.5
|
1.15
|
BR
|
|
Previous
|
and
|
23.0
|
37.0
|
14.0
|
3.51
|
BR
|
|
including
|
29.0
|
29.8
|
0.8
|
33.71
|
BR
|
|
and
|
44.4
|
47.0
|
2.6
|
64.80
|
BR
|
vg
|
including
|
45.4
|
46.2
|
0.8
|
204.34
|
BR
|
|
and
|
50.5
|
51.6
|
1.1
|
3.51
|
BR
|
|
and
|
55.2
|
57.3
|
2.1
|
3.92
|
BR
|
|
including
|
55.2
|
55.7
|
0.5
|
10.46
|
BR
|
|
90-U-104
|
7.2
|
13.1
|
5.9
|
1.59
|
BR
|
vg
|
Historic
|
and
|
15.9
|
20.4
|
4.5
|
0.77
|
BR
|
|
and
|
22.6
|
25.8
|
3.2
|
1.54
|
BR
|
|
and
|
28.8
|
32.1
|
3.3
|
9.15
|
BR
|
|
and
|
39.9
|
50.6
|
10.8
|
16.02
|
BR
|
vg
|
BR91-110
|
19.0
|
29.0
|
10.0
|
1.15
|
BR
|
|
and
|
34.0
|
64.0
|
30.0
|
1.40
|
BR
|
|
and
|
94.0
|
114.0
|
20.0
|
2.64
|
BR
|
|
and
|
134.0
|
144.0
|
10.0
|
1.31
|
BR
|
|
BR05-014
|
33.0
|
35.0
|
2.0
|
2.50
|
BR
|
|
and
|
83.0
|
84.5
|
1.5
|
1.38
|
BR
|
|
and
|
85.6
|
88.5
|
3.0
|
1.84
|
BR
|
|
and
|
89.4
|
93.5
|
4.1
|
6.05
|
BR
|
|
including
|
90.3
|
91.6
|
1.3
|
12.45
|
BR
|
|
90-U-61
|
2.7
|
24.2
|
21.4
|
2.86
|
BR
|
vg
|
including
|
8.0
|
14.7
|
6.7
|
5.17
|
BR
|
|
BR91-113
|
58.0
|
63.0
|
5.0
|
0.54
|
BR
|
|
and
|
73.0
|
88.0
|
15.0
|
2.08
|
BR
|
|
and
|
103.0
|
113.0
|
10.0
|
1.73
|
BR
|
|
BR05-015
|
65.0
|
70.0
|
5.0
|
9.51
|
BR
|
|
including
|
69.0
|
70.0
|
1.0
|
41.10
|
BR
|
|
and
|
75.5
|
81.7
|
6.2
|
1.69
|
BR
|
|
Table of composited assays from section 8775E
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Gold
(g/t)
|
Gold
System
|
Visible
Gold
|
|
BR-18-38
|
49.6
|
51.6
|
2.0
|
2.58
|
BR
|
|
Current
|
and
|
94.5
|
95.0
|
0.5
|
5.87
|
BR
|
|
and
|
97.0
|
97.5
|
0.5
|
5.78
|
BR
|
|
and
|
104.0
|
106.5
|
2.5
|
1.15
|
BR
|
|
and
|
108.5
|
109.3
|
0.8
|
3.07
|
BR
|
|
and
|
111.5
|
115.6
|
4.1
|
2.21
|
BR
|
|
including
|
113.5
|
114.0
|
0.5
|
13.07
|
BR
|
|
and
|
135.0
|
136.0
|
1.0
|
0.91
|
BR
|
vg
|
BR-18-39
|
40.3
|
42.3
|
2.0
|
2.00
|
BR
|
|
and
|
93.5
|
101.0
|
7.5
|
17.41
|
BR
|
|
including
|
95.5
|
96.0
|
0.5
|
35.41
|
BR
|
|
and
|
97.5
|
98.0
|
0.5
|
187.44
|
BR
|
|
and
|
110.7
|
111.9
|
1.2
|
1.33
|
BR
|
vg
|
and
|
131.0
|
132.0
|
1.0
|
3.92
|
BR
|
|
BR08-01
|
10.0
|
12.0
|
2.0
|
4.26
|
BR
|
|
Historic
|
including
|
10.0
|
10.5
|
0.5
|
10.40
|
BR
|
|
and
|
40.5
|
41.0
|
0.5
|
4.24
|
BR
|
|
and
|
50.0
|
54.5
|
4.5
|
1.03
|
BR
|
|
including
|
50.0
|
50.5
|
0.5
|
4.99
|
BR
|
|
and
|
64.0
|
71.5
|
7.5
|
5.55
|
BR
|
|
including
|
65.5
|
68.5
|
3.0
|
11.97
|
BR
|
|
and
|
73.5
|
77.0
|
3.5
|
0.97
|
BR
|
|
and
|
81.5
|
84.0
|
2.5
|
1.80
|
BR
|
|
including
|
83.5
|
84.0
|
0.5
|
4.54
|
BR
|
|
and
|
85.5
|
86.5
|
1.0
|
1.14
|
BR
|
|
and
|
87.0
|
87.5
|
0.5
|
0.91
|
BR
|
|
and
|
93.0
|
98.0
|
5.0
|
1.58
|
BR
|
|
including
|
97.0
|
97.5
|
0.5
|
5.30
|
BR
|
|
and
|
120.5
|
123.5
|
3.0
|
0.90
|
BR
|
|
and
|
127.0
|
128.5
|
1.5
|
1.10
|
BR
|
|
BR08-02
|
75.5
|
76.5
|
1.0
|
4.43
|
BR
|
|
and
|
81.5
|
82.0
|
0.5
|
48.10
|
BR
|
|
and
|
86.0
|
101.0
|
15.0
|
2.73
|
BR
|
|
including
|
99.5
|
101.0
|
1.5
|
7.89
|
BR
|
|
and
|
128.5
|
137.5
|
9.0
|
7.49
|
BR
|
|
including
|
129.5
|
130.5
|
1.0
|
20.70
|
BR
|
|
and
|
137.0
|
137.5
|
0.5
|
84.60
|
BR
|
|
and
|
146.0
|
148.5
|
2.5
|
0.74
|
BR
|
|
and
|
161.0
|
163.5
|
2.5
|
2.05
|
BR
|
|
and
|
169.0
|
186.5
|
17.5
|
14.86
|
BR
|
|
including
|
170.0
|
170.5
|
0.5
|
425.00
|
BR
|
|
and
|
173.0
|
175.0
|
2.0
|
7.51
|
BR
|
|
and
|
181.5
|
182.0
|
0.5
|
19.90
|
BR
|
|
BR08-03
|
105.0
|
107.0
|
2.0
|
6.01
|
BR
|
|
and
|
110.5
|
116.0
|
5.5
|
1.82
|
BR
|
|
and
|
122.5
|
123.0
|
0.5
|
50.80
|
BR
|
|
and
|
143.8
|
148.0
|
4.3
|
4.25
|
BR
|
|
including
|
143.8
|
145.5
|
1.8
|
8.24
|
BR
|
|
and
|
165.5
|
167.5
|
2.0
|
1.08
|
BR
|
|
and
|
183.5
|
185.0
|
1.5
|
2.48
|
BR
|
|
and
|
190.5
|
192.0
|
1.5
|
1.22
|
BR
|
|
BR08-04
|
99.0
|
111.0
|
12.0
|
2.70
|
BR
|
|
including
|
99.0
|
99.5
|
0.5
|
9.25
|
BR
|
|
including
|
108.5
|
109.0
|
0.5
|
13.90
|
BR
|
|
and
|
162.5
|
163.0
|
0.5
|
3.12
|
BR
|
|
89-U-05
|
3.7
|
17.7
|
14.0
|
7.44
|
BR
|
vg
|
including
|
8.9
|
13.1
|
4.2
|
21.77
|
BR
|
|
89-U-09
|
0.0
|
6.2
|
6.2
|
2.91
|
BR
|
|
and
|
10.3
|
12.6
|
2.3
|
1.47
|
BR
|
|
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 (30 g) 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 30 g 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 80-100% of
true widths of the mineralized zones, with the exception of some
intervals reported from historical drill holes where the drill
trace crosses to the northern limb of the host fold structure near
the bottom of the hole. In these areas reported intervals may
be less than 50% of true width.
*Hole BR-17-03 was previously reported in a press release on
July 27, 2017. The reported results
were based on fire assay alone. Since then the same sample
pulps were reprocessed using total pulp metallic analysis and it is
these values that are reported in this press release to be
consistent with all other gold analysis conducted by the Company
since October of 2017.
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, development, and
exploration 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
Stog'er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral
Resource, the fully-permitted Pine Cove Mill and tailings facility,
and approximately 5,800 hectares of prospective gold-bearing
property. Anaconda is also developing the 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 of
Newfoundland and the Tilt Cove
Property on the Baie Verte
Peninsula, also in Newfoundland.
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 seven-month period 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.