NEWFOUNDLAND – Anaconda Mining of Toronto has confirmed that mineralization at its Stog’er Tight project 3.5 km east of the Pine Cove mill on the Baie Verte Peninsula continues along strike and near the surface. The recent program of trenching and channel sampling leads to assumption that the East and West zones are continuous with the Stog’er’ Tight deposit at surface, and thus the deposit has a total strike length of 480 metres. The East Gabbro zone is now known to be a separate zone of mineralization with a strike length of 300 metres.
Channel sampling returned the following grades: 17.76 g/t Au over 11 metres; 11.02 g/t over 12 metres; 10.77 g/t over 8 metres; 4.38 g/t over 9 metres; and 0.98 g/t over 12 metres.
The Stog’er Tight deposit is characterized by intense carbonate, albite, and pyritic alteration of gabbroic rocks. Gold is strongly associated with pyrite, similar to the Pine Cove deposit. Resources at Stog’er Tight are 204,100 indicated tonnes grading 3.59 g/t Au (23,540 contained oz) and 252,000 inferred tonnes grading 3.27 g/t Au (26,460 contained oz).
The Stog’er Tight deposit including the East and West zones.
Anaconda has received the permits necessary to conduct a test mining campaign next year. The results will be posted at AnacondaMining.com.