TORONTO, Sept. 11, 2018 /CNW/ - Anaconda Mining Inc.
("Anaconda" or the "Company") – (TSX: ANX) (OTCQX: ANXGF) is
pleased to announce that the site set-up phase for the
10,000-tonne, underground bulk sample (the "Goldboro Bulk Sample")
is nearing completion at its Goldboro Gold Project in Nova Scotia, Canada ("Goldboro" or the
"Project"). Anaconda commenced site preparation towards the end of
July (see press release issued on August 1,
2018) and to date has achieved the following milestones:
- Hired local engineering and support staff to execute the
Goldboro Bulk Sample;
- Completed a nesting bird survey prior to the start of
clearing;
- Implemented the Anaconda Health and Safety Program;
- Established a water monitoring program;
- Completed site clearing and surface preparation work, and
continues to prepare the stockpile area;
- Established pumping set-up at the Boston-Richardson shaft;
- Started the dewatering of the existing Boston-Richardson shaft;
- Established survey control around the mine portal;
- Initiated ground control inspections (around portal
excavation);
"We are extremely pleased with the progress that has been
made thus far for the Goldboro Bulk Sample. We are very
grateful for the support of our stakeholders including the local
community, regulators, First Nations, and all service providers and
suppliers that have helped us launch the Project. With the set-up
and site preparation nearly complete, we are ready to begin decline
dewatering and mine rehabilitation. We are looking forward to using
the technical information collected during the Bulk Sample program
including geological, operational and metallurgical data in
designing and optimizing the Project during the feasibility study
stage which is anticipated to start in September."
~ Dustin Angelo, President and
CEO, Anaconda Mining Inc.
Anaconda's mining contractor, Cementation Canada Inc.
("Cementation" or the "Contractor"), has been sourcing people,
equipment and materials for the Bulk Sample since required permits
were received in July. Cementation is committed to hiring a
qualified local workforce and sourcing materials and supplies from
within the Province when possible. Delivery of the Contractor's
materials and equipment began on August
30th. Once power to the site has been
commissioned, Cementation will begin the mine rehabilitation and
decline dewatering phase of the Bulk Sample.
Mining activity is expected to begin in mid-October following
the completion of decline dewatering and rehabilitation. The mining
phase is anticipated to take up to two months to complete, with
final processing results expected early in 2019. Demobilization and
Bulk Sample closure activities are scheduled to be completed by
late December.
A version of this news 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,
Nova Scotia and New Brunswick. The Company operates the Point
Rousse and Tilt Cove Projects 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, deep water port, and approximately 9,150
hectares of prospective gold-bearing property. Anaconda is
developing the Goldboro Gold Project in Nova Scotia, a high-grade Mineral Resource,
which has a preliminary economic assessment and is in the
feasibility stage. The Company also has a wholly owned exploration
company that is solely focused on early stage exploration in
Newfoundland and New Brunswick.
FORWARD-LOOKING INFORMATION
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.
