Underground development is advancing at the Goldboro project in Nova Scotia. (Image: Anaconda Mining)
NOVA SCOTIA – Toronto-based Anaconda Mining and the Assembly of Nova Scotia Mi’kmaw Chiefs signed a memorandum of understanding for the Goldboro gold project 185 km northeast of Halifax. The MOU will govern the process by which the parties will negotiate a mutual benefits agreement.
The assembly of chiefs includes 13 individuals, and it is the highest level of collective governance for the province’s Mi’kmaq (www.MikmaqRights.com).
Anaconda’s preliminary economic assessment for Goldboro last year envisioned a mine with a life of 8.8 years that would produce 375,900 oz. of gold at an all-in sustaining cost of US$615 per ounce. The measured and indicated resource is 3.8 million tonnes grading 4.96 g/t and containing 602,700 oz. The inferred resource is 2.1 million tonnes grading 6.63 g/t and containing 453,200 oz. of gold. Roughly, the measured and indicated contained ounces are found 20% in ore recoverable by open pit methods and 80% by underground methods.
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