Anaconda Mining Drill Results at Goldboro Gold Project
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Anaconda Mining Drill Results at Goldboro Gold Project

Anaconda Mining Inc announced drill results from an ongoing 15,000-metre infill drill program at its 100%-owned Goldboro Gold Project in Nova Scotia in Canada.

Anaconda Mining Inc announced drill results from an ongoing 15,000-metre infill drill program at its 100%-owned Goldboro Gold Project in Nova Scotia in 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 at the western end of the Goldboro deposit and demonstrate numerous mineralized intersections consistent with the current resource model. 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 visible gold occurrences were also observed in these drill holes.

Selected composited highlights from the Drill Program include:

28.52 grams per tonne 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.

Anaconda Mining Inc President and CEO Kevin Bullock said "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."

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