NORTHWEST TERRITORIES - Toronto-based ANACONDA GOLD has completed a preliminary assessment for its Damoti Lake gold project. It envisions a 100-tonne/day plant costing $2.75 million that could produce 32,114 oz of gold annually. Cash costs are estimated at US$131/oz. The property is located 200 km north of Yellowknife and 13 km from the former Colomac gold mine.
The Damoti Lake deposit has measured and indicated resources of 40,600 tonnes grading 26.17 g/t Au. There are another 17,800 tonnes of inferred resources at 16.38 g/t Au. The company has a water licence and land use permit for the project.
Anaconda Gold is earning a 55% interest in Damoti Lake from DOUBLESTAR RESOURCES by spending $2.5 million over four years. Additional information is available at www.AnacondaGold.com.