Canadian Mining Journal

News

GOLD: Anaconda updates resources at Great Northern and Cape Spencer



The former Cape Spencer mine might someday be put back into production. (Image: Anaconda Mining)

NEWFOUNDLAND and NEW BRUNSWICK – Toronto-based Anaconda Mining has shared updated resource numbers for two gold projects – Great Northern near the village of Jackson’s Arm (Nfld.) and Cape Spencer 15 km east of Saint John (N.B.).

The Great Northern project includes the Rattling Brook and Thor deposits. Rattling Brook has an inferred resource of 5.5 million tonnes averaging 1.45 g/t gold for 255,000 contained oz. using a cut-off of 1.0 g/t gold. The numbers represent a 25% increase in tonnage, a 13% increase in grade and a 42% increase in contained oz. compared to the estimate made in 2008.

The nearby Thor deposit has indicated resources of 1.8 million tonnes grading 1.42 g/t gold for 83,000 contained oz. There is also an inferred resource of 847,000 tonnes averaging 1.15 g/t for 31,000 contained oz. A cut-off of 0.5 g/t gold was used in these calculations.

There are also two recently tested zones – Northeast and Pit –  at the Cape Spencer property. Together they contain 1.7  million tonnes averaging 2.72 g/t gold for 151,000 contained ounces. The inferred resource at the Northeast zone is 740,000 tonnes grading 4.07 g/t gold for 96,000 contained oz., using a 2.5 g/t gold cut-off. Using a 0.5 g/t gold cut-off, the Pit zone contains 54,000 oz. in 990,000 tonnes grading 1.71 g/t gold.

The Cape Spencer property also includes the previous producing (1985-86) high grade Cape Spencer gold mine.

Detailed information about the recent mineral estimates is available at www.AnacondaMining.com.