Mining Article: Further details about the Goldboro Gold Project

Mining student

Fly on the Wall
Reaction score

Further details about the Goldboro Gold Project. Should have read and shared this before the article that I have posted about Anaconda Mining. With all these, I bet, all these will have a huge impact on their stocks and company standing in 2021.

Anaconda Mining reports further near surface infill drill results at Goldboro, including 28.52 G/T Gold over 2.0 metres, 3.99 G/T Gold over 4.5 metres and 1.85 G/T Gold over 15.0 metres

TORONTO, ON / ACCESSWIRE / November 19, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce drill results from an ongoing 15,000-metre infill drill program ("Drill Program") at its 100%-owned Goldboro Gold Project ("Goldboro" or the "Project") in Nova Scotia, Canada. The Drill Program is designed to convert priority Inferred Mineral Resources into Measured and Indicated Mineral Resources of the Goldboro Deposit as part of the ongoing feasibility study.
The current drill results are all from shallow drilling (<175 vertical metres) at the West Goldbrook Gold System ("WG Gold System") at the western end of the Goldboro deposit and demonstrate numerous mineralized intersections consistent with the current resource model (Exhibit A). These results demonstrate that at shallow levels of the WG Gold System there are numerous mineralized zones that confirm the geometry and location of the modelled mineral resource. A total of eleven (11) visible gold occurrences were also observed in these drill holes.
Selected composited highlights from the Drill Program include:
  • 28.52 grams per tonne ("g/t") gold over 2.0 metres (125.6 to 127.6 metres) including 112.87 g/t gold over 0.5 metres in hole BR-20-146;
  • 1.85 g/t gold over 15.0 metres (184.0 to 199.0 metres) including 29.13 g/t gold over 0.5 metres and 9.12 g/t gold over 0.5 metres in hole BR-20-147;
  • 3.99 g/t gold over 4.5 metres (186.0 to 190.5 metres) including 26.80 g/t gold over 0.5 metres in hole BR-20-177;
  • 8.68 gold over 1.9 metres (127.6 to 129.5 metres) including 17.60 g/t gold over 0.9 metres in hole BR-20-160;
  • 4.29 g/t gold over 3.6 metres (27.0 to 30.6 metres) including 26.70 g/t gold over 0.5 metres in hole BR-20-158;
  • 6.65 g/t gold over 2.0 metres (23.0 to 25.0 metres) including 17.40 g/t gold over 0.5 metres in hole BR-20-176; and
  • 3.72 g/t gold over 3.5 metres (76.0 to 79.5 metres) including 12.70 g/t gold over 0.5 metres in hole BR-20-182.
A table of selected composite intersections from the Drill Program are shown in Table 1 below.
"As the current drill program progresses, we continue to increase our understanding of the Goldboro mineral resource and importantly its scale in areas of conceptual open pit resources. The shallow infill drilling in the western end of the Goldboro deposit is important as it confirms the geometry and location of the mineral resource and provides further insight into the extent to which we may be able to profitably mine within an open pit at Goldboro. The drill results from this program will allow us to refine the mineral resource model and upgrade resources to the Measured and Indicated categories at West Goldbrook and other areas of the deposit, which will be incorporated into the ongoing definitive feasibility study."
~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

To date, a total of 12,780.5. metres in 79 drill holes (BR-20-105 to BR-20-183) have been completed under the Drill Program, with assays from drill holes BR-20-105 to BR-20-142 previously reported in news releases dated September 3, 2020; October 5, 2020; and November 11, 2020. Current results for 5,075.0 metres in thirty-six (36) diamond drill holes (BR-20-143 to BR-20-183, excluding BR-20-157, -163, -167, -169 and -171 which were taken for comminution analysis) include intersections of mineralized zones primarily within the WG Gold System. Diamond drill hole BR-20-133 was sampled out of sequence and will be reported in a later communication once assays have been received and evaluated.
The Drill Program is funded using existing flow through funds but has also benefited from a grant received from the Government of Nova Scotia through a Mineral Resources Development Fund, shared funding exploration grant MRDF-2020-SF-035.
The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this Drill Program and any other programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate.

Full article published here.