Diskussion zu Signal Gold [Anaconda Gold] - Älteste Beiträge zuerst (Seite 3472)

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Anaconda holders elect directors at AGM

2015-11-20 07:12 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING ANNOUNCES ELECTION OF DIRECTORS

The nominees listed in the management proxy circular for Anaconda Mining Inc.'s 2015 annual and special meeting have been elected as directors of Anaconda. Detailed results of the vote for the election of directors held at the annual general and special meeting on Nov. 19, 2015, in Toronto are set out in the associated table.


Nominee Votes for For % Votes withheld Withheld %

Dustin Angelo 36,214,088 99.44% 205,500 0.56%
Kevin Bullock 35,215,188 96.69% 1,204,400 3.31%
Michael Byron 35,165,188 96.56% 1,254,400 3.44%
Tim Casgrain 35,165,188 96.56% 1,254,400 3.44%
Glenn Dobby 35,213,188 96.69% 1,206,400 3.31%
Lewis Lawrick 35,163,688 96.55% 1,255,900 3.45%
Maruf Raza 35,165,188 96.56% 1,254,400 3.44%

We seek Safe Harbor.

© 2015 Canjex Publishing Ltd. All rights reserved.

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Anaconda files Point Rousse technical report on SEDAR

2015-12-08 07:51 ET - News Release

Mr. Dustin Angelo reports

ANACONDA FILES AN UPDATED TECHNICAL REPORT ON THE POINT ROUSSE PROJECT, BAIE VERTE, NEWFOUNDLAND AND LABRADOR

Anaconda Mining Inc., further to the company's news release dated Oct. 22, 2015, has filed a National Instrument 43-101 technical report on SEDAR titled "NI 43-101 Technical Report, Mineral Resource and Mineral Reserve Update on the Pine Cove Mine and Mineral Resource Estimate on the Stog'er Tight Deposit, Point Rousse Project, Baie Verte, Newfoundland and Labrador, Canada."

The technical report was authored by independent qualified persons David Copeland, PGeo (an independent consultant), and Catherine Pitman, PGeo (AMC Mining Consultants (Canada) Ltd.), and qualified persons David Evans, PGeo (Silvertip Exploration Consultants Inc.), Paul McNeill, PGeo (Anaconda), and Gordana Slepcev, PEng (Anaconda).

This news release has been reviewed and approved by Paul McNeill, PGeo, vice-president of exploration with Anaconda Mining, a qualified person under National Instrument 43-101.

We seek Safe Harbor.

© 2015 Canjex Publishing Ltd. All rights reserved.

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Anaconda Mining sells 4,605 oz Au in fiscal Q2 2016

2015-12-14 07:31 ET - News Release

Mr. Dustin Angelo reports

ANACONDA'S POINT ROUSSE PROJECT SELLS RECORD 4,600 OUNCES OF GOLD; GENERATES $6.8M IN REVENUE IN Q2 FY2016

Anaconda Mining Inc. has released certain financial and operating results from the three- and six-month period ended Nov. 30, 2015. The company sold a record 4,605 ounces of gold during the second quarter of fiscal 2016 and generated $6,798,076 in revenue at an average sales price of $1,476 per ounce. Sales volume in the second quarter of fiscal 2016 was 34 per cent higher than the comparable period of fiscal 2015 when the company sold 3,431 ounces. During the six months ended Nov. 30, 2015, the company sold 8,561 ounces of gold (also a record for a six-month period) and generated $12,583,877 in revenue at an average sales price of $1,470 per ounce. Sales volume in the first half of fiscal 2016 was 16 per cent higher than the comparable period of fiscal 2015 when the company sold 7,364 ounces.

The company expects to file its full financial statements by Jan. 12, 2015.

President and chief executive officer Dustin Angelo stated: "The second quarter of fiscal 2016 was another strong operational quarter highlighted by a record gold sales volume of over 4,600 ounces. The entire team, from top to bottom, continues to demonstrate the ability to drive more productivity and efficiency in the mill and the mine. Recently, we've gotten huge gains from employing new technologies in the pit and automating portions of the mill along with repairing the ball mill motor in September. One of the most noteworthy achievements in the quarter was increasing throughput to over 1,200 tonnes per operating day in November. The performance of the mineral processing and mining teams bodes well for generating significant cash flow for many years to come as we demonstrate the longevity of the Point Rousse project through our positive exploration and development results, starting with the Stog'er Tight deposit."

Second quarter 2015 operations overview

The Pine Cove mill operated for 81 days during the second quarter of fiscal 2016 at an availability rate of 88 per cent (which included an eight-day mill shutdown for scheduled annual maintenance). For the quarter, the mill processed 95,629 dry tonnes of ore at an average head grade of 1.66 grams per tonne. Overall mill recovery was 87 per cent, compared with 85 per cent in the second quarter of fiscal 2015. The mill's run rate for the quarter was 1,181 tonnes per operating day versus 1,056 in the same period in the previous fiscal year, a 12-per-cent increase.

During the second quarter of fiscal 2016, the mill had its annual scheduled shutdown for an eight-day maintenance program. During the shutdown, the primary ball mill was relined, repairs were completed on the ball mill electric motor, new feed boxes were put in and several components were installed for the mill automation project. The repairs to the ball mill motor have enabled it to start up with a higher ball charge, which has helped improve throughput in November to a new monthly high of 1,212 tonnes per operating day.

The mine operated for 64 days in the second quarter of fiscal 2016 producing 105,947 tonnes of ore and 529,718 tonnes of waste. Mining production increased 19 per cent in the second quarter of fiscal 2016 compared with the second quarter of fiscal 2015 to accommodate the increased levels of throughput at the Pine Cove mill.

The table summarizes the key operating statistics for the three and six months ended Nov. 30, 2015, and Nov. 30, 2014.

OPERATING STATISTICS

Three months ended Nov. 30, Six months ended Nov. 30,
2015 2014 2015 2014
Mill
Operating days 81 81 167 168
Availability 88% 88% 91% 92%
Dry tonnes processed 95,629 85,515 192,161 169,297
Tonnes per 24-hour period 1,181 1,056 1,151 1,008
Grade (grams per tonne) 1.66 1.60 1.64 1.70
Overall mill recovery 87% 85% 87% 85%
Gold sales volume (troy oz) 4,605 3,431 8,561 7,364
Mine
Operating days 64 63 142 127
Ore production (tonnes) 105,947 77,489 210,225 166,728
Waste production (tonnes) 529,718 457,387 1,172,546 949,427
Total production (tonnes) 635,665 534,876 1,382,771 1,116,155
Waste:ore ratio 5.0 5.9 5.6 5.7

We seek Safe Harbor.

© 2015 Canjex Publishing Ltd. All rights reserved.

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Anaconda channel samples 11m of 17.76 g/t Au at Stog'er

2015-12-17 07:30 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING REPORTS 17.76 G/T GOLD OVER 11 METRES AND 4.38 G/T GOLD OVER 9 METRES; CONFIRMS THAT STOG'ER TIGHT MINERALIZATION CONTINUES ALONG STRIKE AND NEAR SURFACE

Anaconda Mining Inc. has released the results of its fall exploration program on the Stog'er Tight project. The program was focused on continuing to expand mineral resources along strike and adjacent to the Stog'er Tight deposit. The program included the excavation of six trenches and the collection of 219 one-metre channel samples in the East, West and Gabbro zones following up on historical mapping and trenching that indicated the presence of mineralization.

The primary goal of the program was to test the hypothesis that the East and West zones are continuous with the Stog'er Tight deposit at surface and that the East Gabbro zone is a separate zone of mineralization. The deposit has a known, near-surface strike length of approximately 300 metres. The results of the trenching and channel sampling program indicate that the East zone mineralization is contiguous with the Stog'er Tight deposit over a distance of 100 metres. The West zone was confirmed to contain mineralization over a strike length of at least 80 metres, but appears to be offset by approximately 25 to 40 metres along a fault south of the main trend of the deposit. Consequently, the strike length of mineralization exposed at surface at Stog'er Tight, including the deposit, and the East and offset West zones, is now approximately 480 metres. Trenches across the East Gabbro zone intersected alteration but did not produce appreciable gold grades. Highlights of the channel sampling include:

17.76 grams per tonne Au over 11 metres in channel STtr15-05-C;
11.02 g/t Au over 12 metres in channel STtr15-05-D;
10.77 g/t Au over eight metres in channel STtr15-05-B;
4.38 g/t Au over nine metres in channel STtr15-10;
0.98 g/t Au over 12 metres in channel STtr15-09.

President and chief executive officer Dustin Angelo stated: "The recognition of significant near-surface mineralization immediately along strike from the Stog'er Tight deposit is a positive sign that near-term growth of mineral resources is possible. The results of this program enable us to develop a focused diamond drill program that will target near-surface mineralization with the goal of expanding the mineral resource at Stog'er Tight, which is consistent with our primary exploration goal of demonstrating 10 years of future production within the overall Point Rousse project."

The table contains all significant results.

STOG'ER TIGHT SAMPLING RESULTS

Channel ID Interval Grade
(m) (g/t)

STtr15-05-A 3 0.56
STtr15-05-B 8 10.77
STtr15-05-C 11 17.76
STtr15-05-D 12 11.02
STtr15-05-E 3 9.21
STtr15-05-F 4 6.86
STtr15-08 1 1.43
STtr15-09 12 0.98
STtr15-10 9 4.38

Trenches in this program included STtr15-05 to STtr15-10. Channels STtr15-06 and STtr15-07 did not contain significant intersections of gold. Composites are 80 to 95 per cent of true thickness.

The Stog'er Tight deposit is located 3.5 kilometres from the Pine Cove mill along the existing mine road. The deposit contains a National Instrument 43-101-compliant resource, including an indicated resource of 204,100 tonnes Au grading 3.59 g/t (23,540 ounces Au) and an inferred resource of 252,000 tonnes grading 3.27 g/t (26,460 ounces Au), using a cut-off of 0.8 g/t Au (see press release dated Oct. 22, 2015). The deposit is characterized by intense carbonate, albite and pyritic alteration of gabbroic rocks with gold, strongly associated with pyrite, which is similar to characterization of the Pine Cove deposit. The geological characteristics of Stog'er Tight are found in a much larger area around the deposit that is approximately 1.5 kilometres long by 0.5 kilometre wide. Besides the East, West and East Gabbro zones, several other zones of alteration and mineralization have been identified throughout the greater Stog'er Tight area indicating the potential for further discovery.

This news release has been reviewed and approved by Paul McNeill, PGeo, vice-president of exploration with Anaconda Mining, a qualified person under National Instrument 43-101.

We seek Safe Harbor.

© 2015 Canjex Publishing Ltd. All rights reserved.

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ANACONDA MINING RAISES USD $500,000 THROUGH PREPAYMENT ARRANGEMENT

Anaconda Mining Inc. entered into an agreement on Dec. 18, 2015, with Auramet International LLC through which Auramet has paid $500,000 (U.S.) ($980 (U.S.) per ounce), less fees, to Anaconda in exchange for 510 ounces of gold. Anaconda will deliver these ounces to Auramet in 10 deliveries of 51 ounces per month from January to October, 2016. The prepayment amount was priced based on a spot price on Dec. 18, 2015, of $1,067 (U.S.) per ounce. Anaconda also agrees to sell 100 per cent of its production to Auramet for a minimum of one year from the last contractual delivery date (October, 2016).

President and chief executive officer Dustin Angelo stated: "The company is very adept at managing its finances and has operated strictly from cash flow for over four years, internally funding capital projects and growing from just the Pine Cove mine to the much larger Point Rousse project. We believe the Auramet transaction is a favourable financing that will help accelerate our pace of exploration and development. The immediate cash infusion will allow Anaconda to reach the desired work pace and take another significant step towards our goal of adding 10 years of production to the project."

The prepayment amount will be used to advance exploration on several areas of the Point Rousse project with emphasis on adding resources to the Stog'er Tight deposit and surrounding area, building upon a recent resource estimate (see press release dated Oct. 22, 2015), and promising results from a trenching and channel sampling program (see press release dated Dec. 17, 2015).

We seek Safe Harbor.

© 2015 Canjex Publishing Ltd. All rights reserved.

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Anaconda earns $766,040 in fiscal Q2

2016-01-08 07:12 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING SELLS 4,605 OUNCES AND GENERATES $2.6M OF EBITDA AT THE POINT ROUSSE PROJECT FOR Q2 FISCAL 2016

Anaconda Mining Inc. has released its financial and operating results for the three and six months ended November 30, 2015. During the second quarter of fiscal 2016, the company sold 4,605 ounces of gold resulting in $6,798,075 in revenue at an average sales price of $1,476 per ounce ($1,118 (U.S.)). Cash cost per ounce sold at the Point Rousse project for the three months ended Nov. 30, 2015, was $913 ($691 (U.S.)). Earnings before interest, taxes, depreciation and amortization and other non-cash expenses at the project level were $2,594,851. Net income for the three months ended Nov. 30, 2015, was $766,040. As at Nov. 30, 2015, the company had cash and cash equivalents of $972,479 and net working capital of $2,473,693.

President and chief executive officer, Dustin Angelo, stated: "Anaconda had an exceptional second quarter, both operationally and financially, buoyed by a quarterly sales volume record of 4,605 ounces. The continued improvement of the Pine Cove mill has given us the ability to increase our throughput significantly compared to last year. The mining staff has done an excellent job at efficiently mucking and optimizing grade to supply the mill at the higher-tonnage levels. The resulting upturn in our gold sales volume has helped us drive our cash cost per ounce sold below $1,000 per ounce for the quarter and year to date. Moving into the second half of the year, we are looking to gain further efficiencies through completing our mill automation project and making further upgrades to equipment in the mill."

Highlights for the three months ended Nov. 30, 2015

As at Nov. 30, 2015, the company had cash and cash equivalents of $972,479 and net working capital of $2,473,693.
For the three months ended Nov. 30, 2015, the company sold 4,605 ounces of gold, a quarterly sales volume record, and generated $6,798,075 in revenue at an average sales price of $1,476 per ounce.
For the six months ended Nov. 30, 2015, the company sold 8,561 ounces of gold and generated $12,583,876 in revenue at an average sales price of $1,470 per ounce.
Cash cost per ounce sold at the Pine Cove project for the three and six months ended Nov. 30, 2015, was $913 and $996 per ounce, respectively.
All-in sustaining cash cost per ounce sold, including corporate administration, capital expenditures and exploration costs, for the three and six months ended Nov. 30, 2015, was $1,364 and $1,424 per ounce, respectively.
The mill processed 1,181 tonnes of ore per operating day for the three months ended Nov. 30, 2015.
The overall recovery in the mill for the three and six months ended Nov. 30, 2015, was 87 per cent. At the Pine Cove project, EBITDA for the three and six months ended Nov. 30, 2015, was $2,594,851 and $4,057,279, respectively.
On a consolidated basis, EBITDA for the three and six months ended Nov. 30, 2015, was $2,032,078 and $2,972,055, respectively. Net income for the three and six months ended Nov. 30, 2015, was $766,040 and $581,121, respectively.
Purchase of property, mill and equipment for the six months ended Nov. 30, 2015, was $1,804,419. Key items included mill automation and equipment upgrades of $590,000, tailing expansion costs of $346,000, polishing pond construction of $221,000, construction of ore shed enclosure of $203,000, and development costs of $380,000.
Production stripping assets for the six months ended Nov. 30, 2015, include additions of $414,397 and amortization of $37,258.
Approximately $814,000 was spent at the Point Rousse project on exploration for the six months ended Nov. 30, 2015. The company's exploration initiatives included publishing a National Instrument 43-101 technical report outlining mineral resources at the Stog'er Tight and Pine Cove deposits, a trenching program adjacent to the Stog'er Tight deposit to expose near-surface mineralization, geological mapping and trenching program at the Argyle zone, and drilling at the Pine Cove Pond area adjacent to the Pine Cove pit.
On Dec. 18, 2015, the company entered into an agreement with Auramet International LLC through which Auramet has paid $500,000 (U.S.) ($980 (U.S.) per ounce), less fees, to Anaconda in exchange for 510 ounces of gold.

Operations overview

During the three months ended Nov. 30, 2015, the gold sales volume of 4,605 ounces represented a 34-per-cent increase over the same period in fiscal 2015, due to increased mill throughput, grade and recovery. Ore tonnes processed increased from 85,515 ore tonnes to 95,629, a 12-per-cen increase compared with the three months ended Nov. 30, 2014. Grade for the three months ended Nov. 30, 2015, was 1.66 grams per tonne, a 4-per-cent increase from the same period in fiscal 2015. Recovery also increased from 85 per cent to 87 per cent period over period. Average sales price for the three months ended Nov. 30, 2015, was $1,476 per ounce compared with $1,398 per ounce the same period in fiscal 2015. As a result of the higher sales volume, gross revenue for the three months ended Nov. 30, 2015, of $6,798,075 was higher period over period by $1,999,896 or 42 per cent.

The associated table summarizes the key operating metrics for the three and six months ended Nov. 30, 2015, and 2014.

OPERATING STATISTICS

For the three months ended For the six months ended
Nov. 30, 2015 Nov. 30, 2014 Nov. 30, 2015 Nov. 30, 2014
Mill
Operating days 81 81 167 168
Availability 88% 88% 91% 92%
Dry tonnes processed 95,629 85,515 192,161 169,297
Tonnes per 24-hour period 1,181 1,056 1,151 1,008
Grade (grams per tonne) 1.66 1.60 1.64 1.70
Overall mill recovery 87% 85% 87% 85%
Gold sales volume (troy
ounces) 4,605 3,431 8,561 7,364
Mine
Operating days 64 63 142 127
Ore production (tonnes) 105,947 77,489 210,225 166,728
Waste production (tonnes) 529,718 457,387 1,172,546 949,427
Total production (tonnes) 635,665 534,876 1,382,771 1,116,155
Waste-to-ore ratio 5.0 5.9 5.6 5.7


Milling operations

The Pine Cove mill operated for 81 days during the second quarter of fiscal 2016 at an availability rate of 88 per cent (which included an eight-day mill shutdown for scheduled annual maintenance). For the three months ended Nov. 30, 2015, the mill processed 95,629 dry tonnes of ore at an average head grade of 1.66 grams per tonne. Overall mill recovery was 87 per cent, compared with 85 per cent in the second quarter of fiscal 2015. The mill's run rate for the quarter was 1,181 tonnes per operating day versus 1,056 in the same period in the previous fiscal year, a 12-per-cent increase.

During the second quarter of fiscal 2016, the mill had its annual scheduled shutdown for an eight-day maintenance program. During the shutdown, the primary ball mill was relined, repairs were completed on the ball mill electric motor, new feed boxes were installed and several components were installed for the mill automation project. The repairs to the ball mill motor enabled it to start up with a higher ball charge, which helped improve throughput in November to a new monthly high of 1,212 tonnes per operating day.

Mining operations

The mine operated for 64 days in the second quarter of fiscal 2016 producing 105,947 tonnes of ore and 529,718 tonnes of waste. Mining production increased 19 per cent in the second quarter of fiscal 2016 compared with the second quarter of fiscal 2015 to accommodate the increased levels of throughput at the Pine Cove mill.

Exploration

The company is pursuing a strategy to leverage the existing infrastructure at the Point Rousse project by exploring and developing its mineral licences and mining leases in search of two general mineralization styles: Pine Cove-like, quartz-carbonate-pyrite hosted (plus two g/t) mineralization (baseload production sources) and higher grade (plus five g/t) quartz vein plus or minus carbonate plus or minus pyrite mineralization. The company is working on expanding the current Pine Cove pit resource and bringing the Stog'er Tight deposit into production to extend the life of the Point Rousse project beyond its current three plus years. Anaconda is also exploring and delineating potentially higher-grade deposits such as Romeo and Juliet to blend with relatively lower-grade Pine Cove and Stog'er Tight ore. With the high-grade layer and a marginal increase throughput, the company expects to increase annual production to approximately 30,000 ounces. The company envisions creating an operating complex on the Ming's Bight peninsula with multiple pits and trucking the ore back to the Pine Cove mill.

Consistent with this strategy, in the quarter ended Nov. 30, 2015, the company has made the following advances in exploration:

Published an NI 43-101 technical report outlining mineral resources at the Stog'er Tight and Pine Cove deposits;
Conducted a trenching program adjacent to the Stog'er Tight deposit to expose near-surface mineralization;
Conducted a geological mapping and trenching program at the Argyle zone;
Conducted drilling at the Pine Cove Pond area adjacent to the Pine Cove pit.

During the course of Anaconda's exploration and development efforts, three primary gold trends have been identified within the Point Rousse project area, with a cumulative prospective strike length of approximately 20 kilometres. The company's recent exploration work, combined with historical results, has brought more clarity, understanding and confidence to the company's geological interpretations and models. The company believes it has the potential to discover and develop multiple deposits on the Ming's Bight peninsula. As a result, Anaconda believes that the Point Rousse project area could double production and continue for 10 years or more. Exploration and development efforts during the past year have focused entirely on implementing this strategy by focusing on extending the baseload production centred on Pine Cove and Stog'er Tight, as well as evaluating a potential high-grade gold source at Romeo and Juliet and advancing grassroots projects at Goldenville and Argyle.

Below is a brief overview of the gold trends on the Ming's Bight peninsula and Anaconda's exploration efforts within them with specific reference to the Pine Cove and Stog'er Tight deposits and recent exploration work on these deposits.

The Scrape trend

The Scrape trend consists of a belt of highly prospective rocks approximately seven kilometres long and approximately one to two kilometres wide. It begins southwest of the Pine Cove mine site and continues eastward to the community of Ming's Bight. The Scrape trend includes the Pine Cove and Stog'er Tight deposits as well as the Romeo and Juliet, Anaroc and Animal Pond prospects, and a new discovery referred to as the Argyle zone. These gold occurrences align with a fault delineated by a topographic lineament coincident with a broad. The Scrape trend hosts both baseload and high-grade styles of mineralization.

The Stog'er Tight and Pine Cove resource calculation

On Oct. 22, 2015, the company announced the results of an NI 43-101-compliant mineral resource estimate at the Stog'er Tight and Pine Cove deposits. These resource calculations represent an important step in the company's strategy to extend the life of the Point Rousse project. With these new resource calculations, the company is beginning to build a portfolio of ounces and demonstrate the potential of the Point Rousse project.

The associated tables summarize the mineral resources and reserves estimate for the Point Rousse project.

STOG'ER TIGHT RESOURCES

Category Cut-off Tonnes Grade Ounces of gold
(g/t) (g/t)

Indicated 0.8 204,100 3.59 23,540
Inferred 0.8 252,000 3.27 26,460

PINE COVE RESOURCES

Category Cut-off Tonnes Grade Ounces of gold
(g/t) (g/t)

Indicated 0.7 1,499,500 1.61 77,390
Inferred 0.7 220,700 1.59 11,260

PINE COVE RESERVES

Category Cut-off Tonnes Grade Ounces of gold
(g/t) (g/t)

Probable 0.7 858,855 1.46 40,400

The Stog'er Tight deposit trends east-southeasterly, is exposed over approximately 300 metres of strike. Mineralized lenses vary from a few, to greater than 10 metres in thickness and to a depth of, approximately, 100 metres. The deposit is characterized by intense carbonate, albite, pyrite alteration of gabbroic rocks with gold closely associated with pyrite as at the Pine Cove deposit.

The Pine Cove deposit generally trends easterly and consists of a series of stacked mineralized zones across 350 metres that vary in strike length from 25 to 250 metres. Mineralization extends downdip for approximately 800 metres, though approximately 300 metres of the dip extent has been excluded from the current resource estimate since it is not currently feasible for open-pit mining because of its depth (between 175 and 300 metres from surface). The deposit is characterized by carbonate, quartz, pyrite, albite alteration with gold occurring with pyrite. The deposit has been continually mined since 2009 with a current production rate of approximately 15,000 ounces per year.

The Stog'er Tight trenching program

On Dec. 17, 2015, the company announced the results of its fall exploration program on the Stog'er Tight deposit. The program was focused on continuing to expand mineral resources along strike and adjacent to the Stog'er Tight deposit. The program included the excavation of six trenches and the collection of 219 one-metre channel samples in the East, West and Gabbro zones following up on historical mapping and trenching that indicated the presence of mineralization.

The primary goal of the program was to test the hypothesis that the East and West zones are continuous with the Stog'er Tight deposit at surface and that the East Gabbro zone is a separate zone of mineralization. The deposit has a known, near-surface strike length of approximately 300 metres. The results of the trenching and channel sampling program indicate that the East zone mineralization is contiguous with the Stog'er Tight deposit over a distance of 100 metres. The West zone was confirmed to contain mineralization over a strike length of at least 80 metres, but appears to be offset by approximately 25 to 40 metres along a fault south of the main trend of the deposit. Consequently, the strike length of mineralization exposed at surface at Stog'er Tight, including the deposit and the East and offset West zones, is now approximately 480 metres. Trenches across the East Gabbro zone intersected alteration, but did not produce appreciable gold grades. The associated table summarizes the composited grades associated with the trenching and channel sampling program.


Channel ID Interval (m) Grade (g/t)

STtr15-05-A 3 0.56
STtr15-05-B 8 10.77
STtr15-05-C 11 17.76
STtr15-05-D 12 11.02
STtr15-05-E 3 9.21
STtr15-05-F 4 6.86
STtr15-08 1 1.43
STtr15-09 12 0.98
STtr15-10 9 4.38

Composites are 80 to 95 per cent of true thickness.

The recognition of significant near-surface mineralization immediately along strike from the Stog'er Tight deposit is a positive sign that near-term growth of mineral resources is possible. The results of this program enable the company to develop a focused diamond drill program targeting near-surface mineralization with the goal of expanding the mineral resource at Stog'er Tight.

The Argyle zone trenching program

On Jan. 8, 2015, the company announced the discovery of the Argyle zone through a trenching program. The new discovery is located approximately five kilometres from the Pine Cove mill and consists of two areas of mineralization located approximately 200 metres apart. On Nov. 16, 2015, the company announced a geological mapping and trenching program to better understand the geological controls and surface distribution of mineralization. The mapping indicated that the Argyle zone is associated with a style of alteration very similar to the Stog'er Tight deposit -- specifically the albitization and carbonatization of gabbroic rocks. Four trenches were designed to expose the potential along strike continuation of the two zones of mineralization.

Drilling at the Pine Cove deposit

On Nov. 16, 2015, the company announced it initiated a targeted exploration program consisting of 1,000 metres of diamond drilling adjacent to the Pine Cove deposit focused on the southern margins of the mine in an area known as Pine Cove Pond. The goal of the drill program was to expand near-surface mineral resources at the Pine Cove mine adjacent to the current ultimate pit design. Geological and geophysical data indicate that the Pine Cove Pond area may contain the easterly and westerly continuation of the southern portion of the Pine Cove deposit.

The Goldenville trend

The Goldenville trend is an eight-kilometre-long trend of highly prospective rocks centred on an iron stone unit referred to as the Goldenville horizon. The company believes the trend to be highly prospective because the trend is thought to contain ironstone hosted gold deposits including the Corkscrew deposit recently optioned from Seaside Realty (see press release of Aug. 4, 2015). Mineralization within the Goldenville trend is a well-established geological model and the region is known to host these deposits. The Goldenville trend has numerous gold prospects including four small, historical, hand-dug shafts, which were developed to mine visible gold. Anaconda is exploring the Goldenville trend for high-grade deposits on the order of approximately 250,000 ounces of gold at five g/t or more (based on similar deposits and historical production within the region). If the company is successful, it will have a longstanding high-grade feed source for the Pine Cove mill to layer on top of the baseload production from other sources like Pine Cove or Stog'er Tight. No exploration fieldwork was conducted during the three months ended Nov. 30, 2015.

The Deer Cove trend

The Deer Cove trend is located in the northern part of the Ming's Bight peninsula and consists of a belt of prospective rocks approximately 3.5 kilometres in strike length. It is associated with the Deer Cove thrust fault and includes the Deer Cove deposit as well as various other showings and prospects.

Historical drill results suggested that the Deer Cove deposit could be a source of high-grade feed for the Pine Cove mill. Past development work includes a drill program on the Deer Cove deposit in 2014 to better outline the distribution of high-grade gold within the vein and to test the vein downdip. The program consisted of 2,090 metres of diamond drilling in 20 holes (see press release dated Feb. 27, 2015). The results indicate that the deposit does continue at depth but that the high-grade portion of the deposit was not present to the depths tested.

No exploration fieldwork was conducted during the three months ended Nov. 30, 2015. The company plans to update the deposit model with the most recent drill results and assess the deposits ability to be developed and included within the mine plan as a source of high-grade ore.

Completed and anticipated fiscal 2016 exploration work

Anaconda continues to pursue its strategy of leveraging the existing infrastructure at the Point Rousse project by exploring and developing its mineral licences and mining leases in search of the two general mineralization styles. The company is attempting to demonstrate a minimum of 10 years of baseload production as well as develop a high-grade deposit to layer with the baseload to ultimately expand production to 30,000 ounces per year. Work in fiscal 2016 continues to focus on the Pine Cove and Stog'er Tight deposits with ancilliary work on other projects such as Romeo and Juliet and the Argyle zone.

The goal at the Pine Cove deposit is to outline at least three more years of production by focusing on the Northwestern extension and Pine Cove Pond areas. In fiscal 2016, the company conducted drilling programs within the Northwestern extension and, more recently, the Pine Cove Pond areas. Following the evaluation of the Pine Cove Pond drilling and deposit modelling, the company will evaluate the potential to bring mineralization within these areas into the mine plan and if further work is required to expand or better define these areas of mineralization.

The goal at the Stog'er Tight deposit is to outline and begin development of at least five years of production. Consistent with this goal, the company conducted a stripping and channel sampling program to expose and characterize the deposit and the associated geology. This was followed up with a small drill program to test the extents of mineralization adjacent to the deposit. Plans were also developed to conduct metallurgical testwork and to take a bulk sample for processing at the Pine Cove mill. Following a resource calculation the company began work to expand on that resource by testing the limits of surface exposures of mineralization along strike from the deposit and also within adjacent areas. Based on the success of the most recent trenching, the company is planning a drill program to test the downdip extents of mineralization exposed at surface, outside of the current resource.

The company plans to further evaluate the resource potential at the Romeo and Juliet prospect and the Argyle zone. At the Romeo and Juliet prospect, the company has the goal of demonstrating the potential to host five years of production as a high-grade (plus five g/t) source of gold that can be processed with the baseload production. At Romeo and Juliet, an in-house resource calculation and review of historical ground induced polarization data are planned to determine and develop drill targets with the goal of growing potential resources. Planned work on the Argyle zone includes the evaluation of recent trenching and channel sample data. If warranted, plans will be developed to further test the Argyle zone.

The information contained within the exploration section above has been reviewed and approved by Paul McNeill, PGeo, vice-president, exploration, with Anaconda Mining, a qualified person, under National Instrument 43-101 standard for disclosure for mineral projects.

Subsequent event

On Dec. 18, 2015, the company entered into an agreement with Auramet through which Auramet has paid the prepayment amount, less fees, to Anaconda in exchange for 510 ounces of gold. Anaconda will deliver these ounces to Auramet in 10 deliveries of 51 ounces per month from January to October, 2016. The prepayment amount was priced based on a spot price on Dec. 18, 2015, of $1,067 (U.S.) per ounce. Anaconda also agrees to sell 100 per cent of its production to Auramet for a minimum of one year from the last contractual delivery date (October, 2016). In addition, Auramet has the option to purchase 1,800 ounces at a strike price of $1,250 (U.S.) only on the applicable expiration date of Dec. 30, 2016.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

[osno48]

Antwort auf Beitrag Nr.: 51.447.147 von bigyawn am 08.01.16 17:19:53

Freitag Ana-Tag war früher ein Zitat von IQ4U

[indexhunter]

Antwort auf Beitrag Nr.: 51.447.798 von osno48 am 08.01.16 18:12:32

Zitat von osno48: Freitag Ana-Tag war früher ein Zitat von IQ4U

Da passiert heute richtig etwas bei ANX.

Bid füllt sich von Stunde zu Stunde und es wird schön aus dem Ask gekauft.

Bin gespannt ob das Nachhaltig sein wird. Vielleicht kommt ja doch eine Übernahme ins Spiel.

[IQ4U]

Antwort auf Beitrag Nr.: 51.447.798 von osno48 am 08.01.16 18:12:32

Moin Jungs!

Wünsche allerseits ein gutes neues Jahr!!!

Goldige Zeiten könnten ja anbrechen...

Mals sehen, wie es weiter geht.

IQ

P.S.
Vielleicht werden ja doch noch diejenigen belohnt werden, welche durchgehalten haben...?

[marci2]

Anaconda Mining begins drill-testing the potential extensions of the Stog'er Tight deposit




Anaconda Mining Inc. (TSX:ANX)
Intraday Stock Chart

Heute : Donnerstag 14 Januar 2016
Click Here for more Anaconda Mining Inc. Charts.

TORONTO, Jan. 14, 2016 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") – (TSX: ANX) is pleased to announce the commencement of a 2,500 metre diamond drill program on the Stog'er Tight project.

The primary goal of the current program is to determine if surface mineralization, exposed during a recent trenching and channel sampling program conducted in the fall of 2015 (announced on December 17, 2015), continues down-dip. Specifically, the previous program indicated that the East zone (Exhibit A) surface mineralization is contiguous with the Stog'er Tight deposit over a distance of 100 metres and the West zone (Exhibit A) surface mineralization was confirmed over a strike length of at least 80 metres, though offset by approximately 25-40 metres along a fault south of the main trend of the Stog'er Tight deposit. If mineralization is intersected down-dip of that found at surface in the East and West zones, it may be possible to demonstrate geological continuity, and ultimately the extension of the Stog'er Tight deposit. A secondary goal of the program is to test the hypothesis that a third zone of mineralization, the Gabbro zone (Exhibit A), is geologically contiguous with the West zone. If true, then the results will indicate that the Gabbro zone, the West zone and, potentially, the Stog'er Tight deposit are all part of a continuous mineralized system. All drill holes are planned with the ultimate goal of increasing mineral resources at Stog'er Tight.

It is anticipated that the drill program will be complete in March with analytical results and interpretation available in April.

The Stog'er Tight deposit is located 3.5 km from the Pine Cove mill along the existing mine road. The deposit contains a 43-101-compliant resource, including an Indicated Resource of 204,100 tonnes Au grading 3.59 g/t (23,540 oz Au) and an Inferred Resource of 252,000 tonnes grading 3.27 g/t (26,460 oz Au), using a cut-off grade of 0.8 g/t Au (see press release dated October 22, 2015). The deposit is characterized by intense carbonate, albite, and pyritic alteration of gabbroic rocks with gold, strongly associated with pyrite, which is similar to characterization of the Pine Cove deposit. The geological characteristics of Stog'er Tight are found in a much larger area around the deposit that is approximately 1.5 km long by 0.5 km wide. Besides the East, West and Gabbro zones, several other zones of alteration and mineralization have been identified throughout the greater Stog'er Tight area, indicating the potential for further discovery.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

ABOUT ANACONDA

Headquartered in Toronto, Canada, Anaconda is a growth-oriented, gold mining and exploration company with a producing project, called the Point Rousse Project, and approximately 6,300 hectares of exploration property on the Ming's Bight Peninsula located in the Baie Verte Mining District in Newfoundland, Canada. Since 2012, Anaconda has increased its property control by nine-fold. It is currently exploring three primary, prospective gold trends, which have approximately 20 kilometres of cumulative strike length and include four deposits and numerous prospects and showings, all within 8 kilometres of the Pine Cove Mill. The Company's plan is to discover and develop more resources within the project area and double annual production from its current rate of approximately 15,000 ounces to 30,000 ounces.

FORWARD LOOKING STATEMENTS

This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, statements regarding growth and is based on current expectations and assumptions of management that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to: the expectations of the Company in expanding mineral resources and project mine life and the timing thereof, current and future market trends and growth opportunities and whether the Company will be able to capitalize upon them. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements are based on current expectations and are subject to significant risks and uncertainties, including the risks factors outlined in the Company's latest annual information form and other continuous disclosure documents filed at www.sedar.com, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances, except as required by law.

SOURCE Anaconda Mining Inc.

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