Anaconda Mining extends Goldboro deposit

Goldboro project, Nova Scotia. Photo by Anaconda Mining

Anaconda Mining (TSX: ANX) announced on Wednesday results from 18 diamond drill holes in the East Goldbrook gold system at the Goldboro gold project in Nova Scotia. Highlights include: 27.12 g/t Au over 2.5 m, 16.65 g/t Au over 2.0 m, 50.60 g/t Au over 1.0 m and 102.43 g/t Au over 0.7 m.

The 4,391 metres of diamond drilling were part of a recently completed 5,734-metre drill program designed to infill portions of the EG gold system to upgrade resource categorization and to extend the system.

The Goldboro project is an advanced exploration and development project located on tidewater approximately 185 km northeast of Halifax, within Nova Scotia’s Eastern Goldfields District.

Anaconda acquired Goldboro in early 2017 as part of a merger with Orex Exploration Inc. A feasibility study on the project was initiated earlier this year, which Anaconda expects to finish by the end of 2019.

Shares of Anaconda Mining rose by nearly 4% on Wednesday. The company has a market capitalization of C$35.5 million.

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