Anaconda positive about drilling results in Nova Scotia

Toronto-based Anaconda Mining (ANX: TSX) announced today positive results from its first drill program at the Goldboro Project in Nova Scotia.

According to a press release sent out by the company, multiple occurrences of visible gold and assays with high-grade tenor were observed in their five-hole diamond drill program, which totaled 649 metres and was conducted in the Boston Richardson and East Goldbrook gold systems of the Goldboro deposit.

The miner spotted the highest grades yet recorded in the area:

  • 2,513.20 g/t gold over 0.5 metres within 485.07 g/t gold over 2.6 metres (33.1 to 35.7 metres) and 33.26 g/t gold over 1.0 metre (110.0 to 111.0 metres) in hole BR-17-04;
  • 7.85 g/t gold over 3.7 metres within 3.22 g/t gold over 11.4 metres (169.2 to 180.6 metres) in hole BR-17-02;
  • 9.77 g/t gold over 2.3 metres within 2.33 g/t gold over 13.4 metres (17.4 to 30.8 metres) in hole BR-17-03;
  • 16.96 g/t gold over 1 metre within 3.96 g/t gold over 5.5 metres (115.5 to 121 metres) in hole BR-17-05; and
  • 5.56 g/t gold over 1.2 metres within 1.35 g/t gold over 10 metres (25.0 to 35.0 metres) and 13.00 g/t over 0.5 metres within 3.65 g/t gold over 2 metres (53.5 to 55.5 metres) in hole BR-17-01.

Talking about these results, Anaconda’s CEO Dustin Angelo said there is potential for expansion. “As with historical exploration work, we continue to see significantly high-grades and very good thickness in the drill core. We are encouraged by the predictable geological model, which gives us confidence in the mineral resource and our ability to expand the deposit. Over the coming months, we expect to plan and initiate additional drilling to demonstrate the mineral expansion potential of Goldboro.”

The Goldboro project is said to contain a Measured and Indicated Mineral Resource of 457,400 gold ounces at a grade of 5.57 grams per tonne gold and an Inferred Mineral Resource of 372,900 gold ounces at a grade of 4.35 g/t gold.