TORONTO, April 19, 2018 /CNW/ - Anaconda Mining Inc.
("Anaconda" or the "Company") (TSX: ANX) is pleased
to announce assay results from five drill holes (1,621 metres) of a
30-drill hole (7,200 metres) diamond drill program that began in
October 2017 (the "Drill
Program") at the Company's Goldboro Project in Nova Scotia ("Goldboro"). The five drill holes (BR-17-11
and BR-18-20 to -23) targeted cross section 9100E near the center
of the Goldboro Deposit, within both the East Goldbrook ("EG
Gold System") and Boston-Richardson ("BR Gold System") Gold
Systems (Exhibit A and B). Within the BR Gold System, the Drill
Program successfully intersected multiple wide, high-grade zones in
areas not previously drilled, extended mineralization down-dip
along known limbs and extended the depth of the BR Gold System by
approximately 100 metres more than was previously known in this
section. Close to surface, the Drill Program was also successful in
extending eight mineralized zones in the EG Gold System westward by
50 metres.
Highlights of recent assays from the Drill Program include:
- 11.27 grams per tonne ("g/t") gold over 13.5 metres (201.0
to 214.5 metres) in hole BR-18-22, including 15.63 g/t gold over
1.4 metres and 44.33 g/t gold over 2.5 metres;
- 4.13 g/t gold over 20.5 metres (324.5 to 345.0 metres) in
hole BR-18-23, including 9.93 g/t gold over 7.5 metres and 79.34
g/t gold over 0.5 metres;
- 10.55 g/t gold over 6.1 metres (223.0 to 229.1 metres) in
hole BR-18-22, including 18.78 g/t gold over 3.1 metres;
- 5.10 g/t gold over 9.6 metres (116.0 to 125.6 metres) in
hole BR-18-22, including 25.82 g/t gold over 1.5 metres;
- 7.22 g/t gold over 6.5 metres (310.5 to 317.0 metres) in
hole BR-18-23, including 16.00 g/t gold over 2.0 metres; and
- 9.29 g/t gold over 2.1 metres (420.6 to 422.7 metres) in
hole BR-18-21.
A full table of composited assays is presented below.
"We continue to prove that mineralization extends in all
directions in both the EG and BR Gold Systems. We are encountering
typical grade and thickness in most of the newly discovered
mineralized areas and then we're uncovering sweet spots that
contain broader, higher grade intersections that are among the best
results reported from Goldboro to
date. The presence of a fault in the areas around holes BR-18-21 to
-23 is an important feature that may control the localization of
high gold grades and we plan to further test this potential for
thicker high-grade intersections within the coming months."
~Dustin Angelo, President and
CEO, Anaconda Mining Inc.
Gold mineralization throughout the Goldboro Deposit is broadly
controlled by a fold structure, typical of gold deposits within
Nova Scotia and analogous to the
geological setting of the Victorian Goldfields of Australia.
Faults are also commonly mineralized structures within these types
of deposits. They disrupt the normal sequence of rocks and can host
deposits of high-grade gold. Drilling within section 9100E
indicates that the normal sequence of rocks is disrupted by a fault
resulting in the presence of a thick argillite unit associated with
the broad, high-grade intercepts reported in section 9100E. The
fault and associated high-grade gold intersections within the BR
Gold System define a new target for potentially thicker than normal
widths of gold mineralization. To better define the extents and
dimensions of the fault and associated mineralization, Anaconda
will revisit the core from adjacent sections and resume drilling in
this area within the next couple of months.
Table of composited assays for Section 9100E
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Gold
System
|
Visible
Gold
|
|
BR-18-21
|
160.5
|
161.2
|
0.7
|
8.47
|
E.G.
|
v.g.
|
Current
|
and
|
172.0
|
172.5
|
0.5
|
15.94
|
E.G.
|
v.g.
|
and
|
238.9
|
239.9
|
1.0
|
5.89
|
E.G.
|
|
and
|
274.5
|
275.0
|
0.5
|
0.25
|
E.G.
|
|
and
|
282.0
|
282.5
|
0.5
|
3.02
|
E.G.
|
|
and
|
369.0
|
370.0
|
1.0
|
0.57
|
B.R.
|
|
and
|
387.5
|
390.0
|
2.5
|
0.58
|
B.R.
|
|
and
|
393.7
|
396.0
|
2.3
|
0.87
|
B.R.
|
|
and
|
410.0
|
411.0
|
1.0
|
1.38
|
B.R.
|
|
and
|
420.6
|
422.7
|
2.1
|
9.29
|
B.R.
|
|
including
|
422.1
|
422.7
|
0.6
|
28.93
|
B.R.
|
|
and
|
425.1
|
425.7
|
0.6
|
3.11
|
B.R.
|
|
and
|
431.2
|
434.3
|
3.1
|
3.49
|
B.R.
|
v.g.
|
and
|
443.9
|
444.7
|
0.8
|
1.22
|
B.R.
|
|
and
|
446.7
|
449.7
|
3.0
|
2.09
|
B.R.
|
|
and
|
451.4
|
455.1
|
3.7
|
1.02
|
B.R.
|
v.g.
|
and
|
456.9
|
463.9
|
7.0
|
2.14
|
B.R.
|
v.g.
|
including
|
459.4
|
461.5
|
2.1
|
5.21
|
B.R.
|
v.g.
|
and
|
472.1
|
472.6
|
0.5
|
2.94
|
B.R.
|
|
BR-18-20
|
42.0
|
45.0
|
3.0
|
2.14
|
E.G.
|
|
including
|
42.0
|
43.0
|
1.0
|
4.17
|
E.G.
|
|
and
|
87.0
|
87.5
|
0.5
|
0.59
|
E.G.
|
v.g.
|
and
|
166.9
|
167.4
|
0.5
|
0.91
|
E.G.
|
|
and
|
238.6
|
239.1
|
0.5
|
0.70
|
B.R.
|
|
and
|
252.9
|
258.3
|
5.4
|
1.94
|
B.R.
|
|
including
|
253.5
|
254.0
|
0.5
|
10.96
|
B.R.
|
|
and
|
275.7
|
280.0
|
4.3
|
2.19
|
B.R.
|
|
including
|
276.4
|
277.0
|
0.6
|
7.97
|
B.R.
|
v.g.
|
BR-17-11
|
18.6
|
19.6
|
1.0
|
0.81
|
E.G.
|
|
and
|
42.7
|
43.2
|
0.5
|
1.54
|
E.G.
|
|
and
|
57.5
|
63.5
|
6.0
|
2.26
|
E.G.
|
v.g.
|
including
|
62.0
|
63.0
|
1.0
|
9.71
|
E.G.
|
v.g.
|
and
|
65.0
|
66.0
|
1.0
|
0.52
|
E.G.
|
|
and
|
77.8
|
78.3
|
0.5
|
6.59
|
E.G.
|
v.g.
|
and
|
93.5
|
96.5
|
3.0
|
1.38
|
E.G.
|
|
and
|
121.5
|
122.0
|
0.5
|
2.03
|
E.G.
|
|
and
|
123.5
|
124.0
|
0.5
|
3.64
|
E.G.
|
v.g.
|
BR-18-22
|
27.0
|
28.5
|
1.5
|
2.20
|
E.G.
|
|
and
|
38.6
|
39.6
|
1.0
|
0.94
|
E.G.
|
|
and
|
50.5
|
52.4
|
1.9
|
0.89
|
E.G.
|
v.g.
|
and
|
77.5
|
78.0
|
0.5
|
1.33
|
E.G.
|
|
and
|
116.0
|
125.6
|
9.6
|
5.10
|
E.G.
|
v.g.
|
including
|
116.0
|
117.5
|
1.5
|
25.82
|
E.G.
|
v.g.
|
and
|
125.1
|
125.6
|
0.5
|
15.99
|
E.G.
|
v.g.
|
and
|
140.0
|
140.5
|
0.5
|
0.55
|
E.G.
|
|
and
|
201.0
|
214.5
|
13.5
|
11.27
|
B.R.
|
|
including
|
205.9
|
207.3
|
1.4
|
15.63
|
B.R.
|
|
including
|
209.5
|
212.0
|
2.5
|
44.33
|
B.R.
|
|
including
|
211.0
|
211.5
|
0.5
|
172.28
|
B.R.
|
|
and
|
223.0
|
229.1
|
6.1
|
10.55
|
B.R.
|
|
including
|
224.5
|
227.6
|
3.1
|
18.78
|
B.R.
|
v.g.
|
including
|
224.5
|
225.0
|
0.5
|
52.16
|
B.R.
|
|
BR-18-23
|
8.5
|
9.5
|
1.0
|
1.43
|
E.G.
|
|
and
|
25.5
|
26.0
|
0.5
|
19.02
|
E.G.
|
v.g.
|
and
|
77.5
|
78.2
|
0.7
|
0.93
|
E.G.
|
v.g.
|
and
|
99.0
|
100.0
|
1.0
|
0.57
|
E.G.
|
|
and
|
180.3
|
183.4
|
3.1
|
3.83
|
E.G.
|
v.g.
|
including
|
181.5
|
182.0
|
0.5
|
11.06
|
E.G.
|
|
and
|
242.8
|
243.7
|
0.9
|
2.07
|
B.R.
|
|
and
|
250.0
|
255.6
|
5.6
|
1.20
|
B.R.
|
|
including
|
250.0
|
253.6
|
3.6
|
1.65
|
B.R.
|
|
and
|
255.1
|
255.6
|
0.5
|
1.20
|
B.R.
|
|
and
|
261.0
|
261.5
|
0.5
|
0.87
|
B.R.
|
|
and
|
262.5
|
263.0
|
0.5
|
5.70
|
B.R.
|
|
and
|
265.5
|
266.0
|
0.5
|
1.71
|
B.R.
|
|
and
|
271.5
|
274.8
|
3.3
|
1.26
|
B.R.
|
v.g.
|
and
|
276.2
|
278.7
|
2.5
|
1.13
|
B.R.
|
v.g.
|
including
|
277.9
|
278.2
|
0.3
|
7.97
|
B.R.
|
|
and
|
296.8
|
297.6
|
0.8
|
0.91
|
B.R.
|
|
and
|
303.8
|
308.2
|
4.4
|
0.79
|
B.R.
|
|
and
|
307.5
|
308.2
|
0.7
|
1.05
|
B.R.
|
|
and
|
310.5
|
317.0
|
6.5
|
7.22
|
B.R.
|
|
including
|
311.0
|
313.0
|
2.0
|
16.00
|
B.R.
|
|
and
|
321.5
|
323.0
|
1.5
|
0.69
|
B.R.
|
|
and
|
324.5
|
345.0
|
20.5
|
4.13
|
B.R.
|
v.g.
|
including
|
324.5
|
332.0
|
7.5
|
9.93
|
B.R.
|
|
and
|
329.0
|
329.5
|
0.5
|
79.34
|
B.R.
|
v.g.
|
and
|
356.0
|
356.5
|
0.5
|
4.24
|
B.R.
|
|
and
|
359.0
|
361.0
|
2.0
|
1.56
|
B.R.
|
|
and
|
369.7
|
371.4
|
1.7
|
19.99
|
B.R.
|
v.g.
|
including
|
370.5
|
371.0
|
0.5
|
63.99
|
B.R.
|
v.g.
|
and
|
393.2
|
395.3
|
2.1
|
9.10
|
B.R.
|
|
and
|
402.8
|
404.3
|
1.5
|
2.69
|
B.R.
|
v.g.
|
and
|
419.0
|
420.0
|
1.0
|
1.73
|
B.R.
|
|
and
|
422.3
|
424.0
|
1.7
|
8.21
|
B.R.
|
v.g.
|
including
|
423.5
|
424.0
|
0.5
|
20.79
|
B.R.
|
v.g.
|
BR-87-24
|
58.2
|
58.5
|
0.3
|
17.83
|
E.G.
|
v.g.
|
Historical
|
and
|
114.3
|
117.1
|
2.8
|
2.57
|
E.G.
|
|
and
|
176.6
|
182.9
|
6.3
|
0.67
|
B.R.
|
|
and
|
186.9
|
195.7
|
8.8
|
1.49
|
B.R.
|
|
including
|
186.9
|
187.8
|
0.9
|
9.94
|
B.R.
|
|
and
|
215.8
|
217.0
|
1.2
|
0.65
|
B.R.
|
|
and
|
231.6
|
232.9
|
1.3
|
0.97
|
B.R.
|
|
and
|
241.7
|
249.3
|
7.6
|
0.90
|
B.R.
|
|
and
|
256.8
|
259.7
|
2.9
|
1.68
|
B.R.
|
v.g.
|
and
|
278.0
|
278.9
|
0.9
|
16.80
|
B.R.
|
|
and
|
287.1
|
290.8
|
3.7
|
4.68
|
B.R.
|
|
including
|
287.1
|
288.5
|
1.4
|
10.29
|
B.R.
|
|
and
|
326.2
|
331.8
|
5.6
|
3.09
|
B.R.
|
|
including
|
327.4
|
329.8
|
2.4
|
5.83
|
B.R.
|
|
and
|
350.8
|
352.1
|
1.2
|
0.86
|
B.R.
|
|
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 Mining 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
Pine Cove open pit mine, the Stog'er Tight 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 Gold 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.