NEWFOUNDLAND – ANACONDA MINING of Toronto continues to advance the small Pine Cove gold project toward production near Baie Verte. The company reports that the access road has been upgraded, the mill foundations and key equipment are in place, the reagent building is complete, the leach tank agitators are installed, and structural steel installation is complete on the mill building. Construction has also begun on the haul road from the pit to the mill.
Pine Cove hosts probable reserves of 2.3 million tonnes grading 2.76 g/t Au for 207,000 oz of gold. Inferred resources total 66,700 tonnes grading 2.43 g/t Au for 5,200 oz. of gold. The above reserves and resources were prepared utilizing a cut-off grade of 0.95 g/t Au.
Using a vat leaching process, Pine Cove briefly produced gold in 1993. Anaconda is preparing the mill to treat 500 t/d of ore. Additional news will be posted at www.AnacondaGold.com.