Anaconda Mining Begins Regional Airborne Geophysical Survey of Its Pine Cove Property
June 18 2013 - 7:00AM
Marketwired
Anaconda Mining Inc. ("Anaconda" or "the Company") - (TSX:ANX) is
pleased to report that it has engaged Fugro Airborne Services to
fly a helicopter-borne Electromagnetic/Magnetic survey over
Anaconda's Pine Cove property on the Baie Verte Peninsula,
Newfoundland. The airborne survey has begun and is expected to be
completed by the end of June with the results being available by
approximately late August.
Anaconda has mineral exploration rights to approximately 4,785
hectares surrounding its Pine Cove gold mine. The area is underlain
by ophiolitic and cover sequence rocks of the Point Rousse Complex
which is a prolific host for gold mineralization. The Dighem
EM/Horizontal Magnetic Gradiometer survey will target these rocks.
The data will be used in conjunction with archived gold-in-soil
geochemical data and prospecting to further delineate exploration
targets. The survey will cover approximately 700 line kilometers at
a flight line spacing of 75 meters.
President and CEO, Dustin Angelo, stated, "The airborne survey
is an important next step in our exploration plan. The
high-resolution data will aid exploration activities both adjacent
to the Pine Cove mine and regionally in the search for additional
gold resources."
This news release has been reviewed and approved by David Evans,
P. Geo., with Silvertip Exploration Consultants Inc., a "Qualified
Person" under National Instrument 43-101.
ABOUT ANACONDA
Headquartered in Toronto, Canada, Anaconda is a growth oriented,
gold mining and exploration company with a producing asset located
on the Baie Verte Peninsula in Newfoundland, Canada called the Pine
Cove mine.
FORWARD LOOKING STATEMENTS
This document contains or refers to forward-looking information.
Such forward-looking information includes, among other things,
statements regarding targets, estimates and/or assumptions in
respect of future production, mine development costs, unit costs,
capital costs, timing of commencement of operations and future
economic, market and other conditions, and is based on current
expectations that involve a number of business risks and
uncertainties. Factors that could cause actual results to differ
materially from any forward-looking statement include, but are not
limited to: the final approval of the private placement by the
Toronto Stock Exchange; the grade and recovery of ore which is
mined varying from estimates; capital and operating costs varying
significantly from estimates; inflation; changes in exchange rates;
fluctuations in commodity prices; delays in the development of the
any project caused by unavailability of equipment, labour or
supplies, climatic conditions or otherwise; termination or revision
of any debt financing; failure to raise additional funds required
to finance the completion of a project; and other factors.
Additionally, forward-looking statements look into the future and
provide an opinion as to the effect of certain events and trends on
the business. Forward-looking statements may include words such as
"plans," "may," "estimates," "expects," "indicates," "targeting,"
"potential" and similar expressions. These forward-looking
statements, including statements regarding Anaconda's beliefs in
the potential mineralization, are based on current expectations and
entail various risks and uncertainties. Forward-looking statements
are subject to significant risks and uncertainties and other
factors that could cause actual results to differ materially from
expected results. Readers should not place undue reliance on
forward-looking statements. These forward-looking statements are
made as of the date hereof and we assume no responsibility to
update them or revise them to reflect new events or circumstances,
except as required by law.
Contacts: Anaconda Mining Inc. Dustin Angelo President and CEO
(647) 260-1248dangelo@anacondamining.com www.anacondamining.com
ProConsul Capital Ltd. Andreas Curkovic Investor Relations (416)
577-9927acurkovic@proconsulcapital.com
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