TORONTO, Feb. 25, 2019 /CNW/ - Anaconda Mining Inc.
("Anaconda" or the "Company") – (TSX: ANX) (OTCQX: ANXGF) is
pleased to announce that the Company has been selected as one of
three finalists to pitch to the distinguished panel of judges at
the Goldcorp #DisruptMining 2019 live finale, during PDAC 2019.
Allan Cramm, Anaconda's Vice
President of Innovation & Development will present a new
drilling approach that has the potential to unlock value in narrow
vein gold deposits. The technology, known as Sustainable Mining
by Drilling (SMD), was developed in collaboration with
Memorial University of Newfoundland.
SMD has the potential to economically mine deposit types that would
not be profitable using traditional underground or surface mining
methods. The developers also expect this technology could extend
the life of current operations by allowing safe excavation to occur
beyond the limits of current designs.
"Our new method to mine narrow vein gold deposits is a great
example of how collaboration between industry and academia can lead
to the creation of globally important technologies. Anaconda's
innovative culture and longstanding mining experience combined with
Memorial University's research prowess
is the winning combination that has brought the SMD idea to
fruition. To be one of the finalists in #DisruptMining puts our
company and the province of Newfoundland and Labrador on the international stage of mining
innovation."
~ Allan Cramm, Vice President
Innovation & Development, Anaconda Mining Inc.
"#DisruptMining continues to represent the best of innovation
in the mining industry. These finalists demonstrate break-through
thinking and help build digital momentum in mining. The industry
needs to help accelerate the development of these kinds of
technologies. We're thrilled to welcome each of them to the
#DisruptMining community and look forward to learning more about
each of these applications."
~ Todd White, Goldcorp Chief
Operating Officer and Executive Vice President of Operations.
Goldcorp Announces Three Finalists to Make Their $1 Million Pitch at #DisruptMining Live
Finale
https://www.prnewswire.com/news-releases/goldcorp-announces-three-finalists-to-make-their-1-million-pitch-at-disruptmining-live-finale-300801383.html
SUSTAINABLE MINING BY DRILLING (SMD)
Anaconda has several steeply dipping narrow vein gold deposits
within its asset portfolio on the island of Newfoundland. These deposits have limited
economics using existing mining methods. However, preliminary
economic analysis of SMD method indicates that the deposit could be
mined with a net profit.
The implications for this are significant both from purely
economic and sustainable mining perspectives. Just within
Newfoundland and Labrador, there are millions of ounces of gold
stranded in, currently uneconomic, steeply dipping veins. The
economic impact of converting these resources to recoverable
reserves by adopting the SMD method is significant. As these
challenging deposits are present within every mining jurisdiction,
Anaconda Mining expects that this innovative approach will
ultimately provide the company with a significant advantage over
other companies to develop these deposits throughout the world. The
developed SMD technology also has the potential to be
commercialized and introduced into the mining marketplace for
purchase or lease by other mining companies and contractors.
From a sustainable mining perspective, the SMD method offers
significant advantages compared to conventional mining methods
including:
a)
|
Improved safety,
since all operations are conducted from surface, eliminating the
risks associated with underground mining.
|
b)
|
Minimizing
environmental footprint since the method has a minimal surface
footprint during mining operations which can be easily reclaimed.
As well, the method utilizes backfilling of the vein as part of the
mining cycle which can reduce surface tailings storage requirements
(if tailings are used for backfill) and reduce the long-term
hazards of ground subsidence.
|
c)
|
Improving mining and
energy efficiency since the method is highly selective with minimal
dilution and the ore is retrieved as drill cuttings (reducing the
need of primary crushing) thus minimizing energy consumption per
unit of ore produced. As well, emissions are reduced since blasting
is eliminated and the new mining method can operate most equipment
by electricity. For the specific Anaconda test site, electricity is
available from a nearby substation powering the mine plant and
mill.
|
Anaconda Mining is partnered with Memorial
University of Newfoundland for the development and
optimization of the SMD mining method. Anaconda Mining holds the
intellectual property generated during this partnership with
Memorial University of Newfoundland
receiving a royalty on commercial sales of the SMD
technologies.
ABOUT #DisruptMining
The three finalists pitching their disruptive technology to the
distinguished panel of judges are: Anaconda Mining Inc, ANDRITZ,
and Voith Turbo.
Deciding the fate of the three finalists will be Ian Telfer, Chair of Goldcorp and acclaimed
mining industry titan; Katie
Valentine, Partner at KPMG Australia and Global Head of
Mining Consulting; Sue Paish, CEO of
Canada's Digital Technology
Supercluster; Jacob Yeung,
University of British Columbia student
and #DisruptMining UBC Captain; and returning #DisruptMining judge
Wal van Lierop, President & CEO,
Chrysalix Venture Capital.
The #DisruptMining live finale will take place on Sunday, March 3, 2019 at the Rebel Entertainment
Complex in Toronto during the
Prospectors and Developers Association of Canada (PDAC) convention. Each finalist will
present a short pitch video followed by a Q&A with the judges,
in front of a live audience of nearly 600 people, demonstrating how
their concept or technology has the potential to #DisruptMining.
Goldcorp has committed the opportunity to negotiate for
$1 million* toward a proof of concept
or direct investment in the winning technology.
#DisruptMining offers entrepreneurs a platform to bring
disruptive and exponential technologies to the sector, whether it's
unlocking exploration opportunities; finding operational and
production efficiencies; reducing the environmental footprint and
delivering on sustainability commitments; or developing alternative
ways to finance mines and capital projects. #DisruptMining
incentivizes people with exponential technologies and rogue ideas,
with a $1 million opportunity to bring their disruption to
mining. Approximately 90 submissions were received for
#DisruptMining 2019. For more information please visit:
www.disruptmining.com
ABOUT GOLDCORP
Goldcorp is a senior gold producer focused on responsible mining
practices with safe, low-cost production from a high-quality
portfolio of mines. www.goldcorp.com
ABOUT ANACONDA
Anaconda Mining is a TSX and OTCQX-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 9,150 hectares of prospective gold-bearing
property. Anaconda is also developing the Goldboro Gold Project in
Nova Scotia, a high-grade Mineral
Resource, subject to a 2018 a preliminary economic assessment which
demonstrates strong project economics. The Company also has a
wholly owned exploration company that is solely focused on early
stage exploration in Newfoundland
and New Brunswick.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information"
within the meaning of applicable Canadian and United States securities legislation.
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 the annual information form for the
fiscal 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.