Canadian Mining Journal

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GOLD: Anaconda drills solid grades at Goldboro



Image of the Goldboro deposit showing multiple stacked gold zones. (Image: Anaconda Mining)

NOVA SCOTIA –  Anaconda Mining of Toronto has received assays from the first five holes of a 30-hole program at its Goldboro gold project 175 km northeast of Halifax. The five holes targeted cross-section 9100E near the centre of the deposit. They intersected multiple wide, high grade zones in areas not previously tested.

Highlights include the following:

  • 11.27 g/t gold over 13.5 metres in hole BR-18-22, including 15.63 g/t over 1.4 metres and 44.33 g/t over 2.5 metres;
  • 4.13 g/t gold over 20.5 metres in hole BR-18-23, including 9.93 g/t over 7.5 metres and 79.34 g/t over 0.5 metres;
  • 10.55 g/t gold over 6.1 metres in hole BR-18-22, including 18.78 g/t over 3.1 metres;
  • 5.10 g/t gold over 9.6 metres in hole BR-18-22, including 25.82 g/t over 1.5 metres;
  • 7.22 g/t gold over 6.5 metres in hole BR-18-23, including 16.00 g/t over 2.0 metres; and
  • 9.29 g/t gold over 2.1 metres in hole BR-18-21.

Anaconda says the mineralization in the Goldboro deposit is broadly controlled by a fold structure as is typical in Nova Scotia, and it is similar to the geological setting of the Victorian goldfields in Australia. Goldboro has potential for both open pit and underground production. As spelled out in the March 2018 preliminary economic assessment, there are 3.6 million tonnes of measured an indicated resources grading 4.48 g/t gold for 525,400 oz. There are also 2.5 million inferred tonnes grading 4.25 g/t for another 347,300 oz. of contained gold.

Read the full PEA at www.AnacondaMining.com.