Canadian Mining Journal

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GOLD: Anaconda makes maiden estimate for Argyle



Anaconda’s Argyle deposit is only 4.5 km from its Pine Cove gold mill. (Image: Anaconda Mining)

NEWFOUNDLAND – Toronto-based Anaconda Mining has reported the maiden resource estimate for its Argyle gold deposit, part of the Pointe Rousse project 6 km east of Baie Verte. The numbers include 38,300 oz. in the indicated category and 30,300 oz. in the inferred category, and the deposit is open in all directions.

As of Dec. 31, 2017, the Argyle deposit had an indicated resource of 543,000 tonnes grading 2.19 g/t gold. The inferred resource was 517,000 tonnes grading 1.82 g/t. A cut-off grade of 0.5 g/t and a 12 g/t capping factor were used.

The Anaconda staff has drawn up a conceptual open pit design containing about 45% of the current resources. A 1,000-metre diamond drilling program is now underway to expand the deposit.

The environmental assessment application for Argyle is to be submitted to the provincial government in February 2018. The company thinks all permits and approvals for production should be issued in the spring of 2019.

Additional information about Argyle is available in the recent corporate presentation at www.AnacondaMining.com.