Map of planned 2018 drilling at the Argyle gold deposit. (Image: Anaconda Mining)
NEWFOUNDLAND – Anaconda Mining of Toronto says recent drilling confirms the presence of high grade zones at its Argyle deposit, part of the Point Rousse gold project near Baie Verte. The best results were 4.85 g/t gold over 8.5 metres and 4.75 g/t over 8.0 metres.
Geological modeling and resource estimation at Argyle demonstrate that the deposit is characterized by multiple high grade zones or shoots.
Results have been received from the first three of a 12-hole program aimed at infilling and expanding the Argyle deposit. These are the results so far:
- Hole AE-18-64: 1.0 metre at 1.08 g/t gold and 8.0 metres at 4.75 g/t, including 3.0 metres at 10.91 g/t;
- Hole AE-18-65: 8.5 metres at 4.85 g/t gold, including 2.0 metres at 12.5 g/t, and 1.0 metres at 12.00 g/t, and 1.0 metre at 0.80 g/t, and 3.0 metres at 0.69 g/t; and
- Hole AE-18-66: 6.0 metres at 1.87 g/t gold.
The Argyle resource estimate at the end of last year (using a 0.5 g/t cut-off) was 543,000 indicated tonnes grading 2.19 g/t gold for 38,300 contained ounces, plus 517,000 inferred tonnes grading 1.82 g/t gold for 30,300 contained ounces.
Anaconda hopes to mine the Argyle deposit and process the ore at the Pine Cove mill 4.5 km away.
Please visit www.AnacondaMining.com.