GOLD: Anaconda secures key permits for Stog’er Tight project

NEWFOUNDLAND – Anaconda Mining of Toronto has received key permits and leases from the provincial government regarding the Stog’er Tight gold project […]

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NEWFOUNDLAND – Anaconda Mining of Toronto has received key permits and leases from the provincial government regarding the Stog’er Tight gold project 3.5 km east of the Pine Cove mill on the Baie Verte Peninsula. [caption id="attachment_1003712508" align="alignleft" width="232"]Location map showing the Pine Cove mine and mill as well as the Stog’er Tight deposit. Location map showing the Pine Cove mine and mill as well as the Stog’er Tight deposit.[/caption] The permits set out conditions for development, rehabilitation and closure for the project. The company plans a test mining campaign in Q3 2016 to evaluate and optimized blasting techniques, grade control and gold recovery. When the test mining is complete, Anaconda will move to the second part of the development plan when an area for the waste dump is chosen. The Stog'er Tight deposit contains 204,100 tonnes of indicated resources grading 3.59 g/t Au and 252,000 tonnes of inferred resources grading 3.27 g/t (see press release dated October 22, 2015). Flotation tests returned recoveries of between 96.6% and 97.2% for gold. Blending of Stog’er Tight and Pine Cove ore for mineral processing is likely. Anaconda has also completed testing the potential of the waste rock and found it not to be acid generating. Please visit AnacondaMining.com.

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