Canadian Mining Journal

News

GOLD: Anaconda cuts 750+ g/t at Goldboro project



A rendering of what development – open pit and underground – might look like at the Goldboro project in Nova Scotia. (Image: Anaconda Mining)

NOVA SCOTIA – Anaconda Mining of Toronto has found bonanza grades at its Goldboro gold project 175 km northeast of Halifax. The assay that might make a reader’s eyes pop is 752.54 g/t gold over 0.5 metres, 56.67 g/t over 1.0 metre, and 17.00 g/t over 1.0 metre – all from hole BR-17-25 on section 9250E.

Three other holes on section 9250E returned 6.55 g/t gold over 2.5 metres, 12.29 g/t over 1.0 metre, and 49.61 g/t over 0.2 metre.

Anaconda has begun an extra 2,000 metres of drilling to test the hypothesis that it has encountered a new fault related setting for mineralization in the Goldboro deposit, such as have been seen in similar deposits in the Victoria Gold Fields of Australia. Part of the additional drilling, about 500 metres, will infill certain parts of the current resource in the area of a planned bulk sample.

The company plans both open pit and underground mining at Goldboro. Pit resources are 1.1 measured and indicated tonnes grading 3.01 g/t gold plus 45,000 inferred tonnes. Underground there are 2.6 million measured and indicated tonnes at 5.09 g/t gold plus 2.5 million inferred tonnes at 4.28 g/t. The deposit is estimated to contain 525,400 oz. of gold in the measured and indicated resource and 347,300 oz. in the inferred portion.

Detailed drilling results from section 9250E are contained in the news release dated May 10, 2018, posted at www.AnacondaMining.com.