Diskussion zu Signal Gold [Anaconda Gold] (Seite 119)

[IQ4U]

Schöne Umsätze in den letzten Tagen in Kanada...

[IQ4U]

Antwort auf Beitrag Nr.: 54.111.116 von Toni_Trade am 18.01.17 16:46:52

Zitat von Toni_Trade: Hallo Zusammen,

hier kommt was... viel Umsatz aktuell schon in CAD.

Etwas ganz großes kommt auf Sie zu...

[Toni_Trade]

Hallo Zusammen,

hier kommt was... viel Umsatz aktuell schon in CAD.

[bigyawn]

Anaconda drills 15 m of 5.52 g/t Au at Point Rousse

2017-01-18 07:13 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING INTERSECTS 5.52 G/T GOLD OVER 15 METRES AND 9.31 G/T GOLD OVER 6 METRES AT ARGYLE

Anaconda Mining Inc. has released assay results from the second phase of diamond drilling at the Argyle prospect, located at the Point Rousse project and approximately 4.5 kilometres from the Pine Cove mill. The phase 2 drilling program consisted of 22 diamond drill holes totalling 2,174 metres where Anaconda was targeting a consistent level of altered and mineralized stratigraphy within the greater Argyle prospect area. The company intersected gold mineralization within 20 of 22 holes at relatively shallow depths. Drill results include the following highlights:

5.52 grams per tonne gold over 15.0 metres (34.0 to 49.0 metres) in hole AE-16-40;
9.31 g/t gold over six metres (86.8 to 92.8 metres) in hole AE-16-39;
2.95 g/t gold over 15.0 metres (94.0 to 109.0 metres) in hole AE-16-43;
2.91 g/t gold over 12.1 metres (68.3 to 80.4 metres) in hole AE-16-33.

The table summarizes the composited drill results of the phase 2 drilling program.

Since initial trenching and the first phase of diamond drilling at Argyle, Anaconda has discovered a shallow-dipping, near-surface (less than 100 metres) mineralized system close to the Pine Cove mill, with several intercept grades in core that are higher than the current production grade at the Pine Cove pit. The phase 2 drilling program has successfully extended the strike length of gold mineralization by about 50 per cent to over 600 metres while more than doubling the downdip extension to at least 225 metres. Both the strike and downdip extensions remain open.

During the phase 2 drilling program, the company encountered two higher-grade zones of mineralization with thicknesses ranging from six to 15.0 metres, similar to a zone discovered during the phase 1 drilling program, located in the western area of Argyle. These two new higher-grade zones are downdip to the north and are located in the northern and eastern parts of the drilling area. The easternmost higher-grade zone is outlined by drill holes AE-16-33, -40 and -43, and averages 14 metres thick with composited assays between 2.91 grams per tonne and 5.52 g/t gold. The strike of this zone is at least 150 metres and is still open for expansion. The northernmost higher-grade zone is outlined by a single drill hole (AE-16-39), is six metres thick with a composited grade of 9.31 g/t gold, and is open along strike and downdip.

President and chief executive officer Dustin Angelo stated: "During the phase 2 drilling program, we encountered the highest grades and thickest intercepts at Argyle as we stepped out to the north. The mineralized system is open in all directions and shows potential to host thick, high-grade domains in targeted areas. We have found the type of mineralization that may help us increase production and extend project life. Argyle is close to the Pine Cove mill, near surface and shallow dipping, all additional characteristics that support further work on the prospect. We also look forward to testing other targets in the immediate area that share the same geophysical and geological characteristics as Argyle."

Anaconda is planning several exploration programs at Argyle, aimed at further expanding and developing resources within the Point Rousse project. The company plans to drill test the continuity of Argyle beyond known mineralization along strike and to the north, as well as more infill drilling focused on near-surface mineralization (less than 25 metres). Several other exploration targets with similar geophysical and geological characteristics to Argyle are in the greater Argyle area and will be drill tested to determine if there are multiple mineralized zones.

PHASE 2 DRILL RESULTS

Hole ID From To Interval Au
(m) (m) (m) (g/t)

AE-16-23 25.5 27.7 2.2 1.10
and 44.6 45.8 1.2 0.56
AE-16-24 28.0 29.0 1.0 0.88
and 33.0 34.0 1.0 0.55
and 34.6 36.0 1.4 1.08
AE-16-26 58.3 61.9 3.6 1.59
AE-16-27 73.2 74.0 0.8 0.52
AE-16-28 69.5 69.7 0.2 0.50
AE-16-29 32.6 33.4 0.8 0.54
and 109.0 109.9 0.9 4.13
AE-16-30 48.0 51.0 3.0 1.36
and 53.5 55.0 1.5 0.80
and 56.0 57.0 1.0 0.74
and 62.0 63.0 1.0 0.81
AE-16-31 25.0 26.0 1.0 1.52
AE-16-32 50.0 52.0 2.0 1.27
AE-16-33 68.3 80.4 12.1 2.91
including 72.0 75.0 3.0 8.55
AE-16-34 32.0 34.0 2.0 3.63
AE-16-35 15.9 26.0 10.1 0.74
including 22.0 26.0 4.0 1.31
AE-16-37 33.4 36.0 2.6 0.95
AE-16-38 74.0 77.7 3.7 0.59
AE-16-39 86.8 92.8 6.0 9.31
including 89.8 90.8 1.0 46.60
AE-16-39 95.8 97.8 2.0 0.64
AE-16-39 100.8 101.8 1.0 1.07
AE-16-40 34.0 49.0 15.0 5.52
including 39.0 43.0 4.0 14.01
and 39.0 40.0 1.0 34.50
AE-16-41 49.0 50.0 1.0 0.50
AE-16-41 56.0 58.0 2.0 0.69
AE-16-42 76.0 78.0 2.0 3.05
AE-16-43 94.0 109.0 15.0 2.95
including 103.0 106.0 3.0 6.94
AE-16-44 59.0 60.0 1.0 0.50
and 87.0 87.9 0.9 2.44
and 99.0 100.0 1.0 1.90

Junior exploration assistance program (JEA) grant from the government of Newfoundland and Labrador

The phase 1 and phase 2 drilling programs at Argyle are part of a proposal submitted to the Department of Natural Resources of the government of Newfoundland and Labrador to be considered under the JEA. The JEA aims to grow the mineral inventory of the province through the discovery of new mineral districts, occurrences, prospects and deposits. Anaconda gratefully acknowledges the financial assistance of the government of Newfoundland and Labrador and the Department of Natural Resources. Anaconda could receive up to 40 per cent of the cost of exploration related to phase 1 and phase 2 drilling programs to a maximum of $150,000.

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.

All samples are collected using quality assurance/quality control protocols including the regular insertion of duplicates, standards and blanks within the sample batch for analysis. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, Nfld., for Au by fire assay (30 g) with an AA finish.

Mineralized intervals are reported as drill intersections and are apparent widths only. Apparent widths reported in this press release are estimated to be approximately 80 to 100 per cent of true widths.

About Anaconda

Anaconda Mining is a gold-mining and exploration company with a producing project called the Point Rousse project, and three exploration/development projects called the Viking and Great Northern projects, and the Tilt Cove property, in Newfoundland.

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd. All rights reserved.

[IQ4U]

Aus dem Kanadischen Board:

January 12, 2017 - 10:40 AM 80 Reads Post# 25699026

Anaconda earning in,.

Metals Creek optionee completes work at Jackson's Arm

2017-01-12 10:30 ET - News Release

Mr. Alexander Stares reports

METALS CREEK RESOURCES CORP. PROVIDES UPDATE ON JACKSONS ARM PROJECT IN NEWFOUNDLAND

Metals Creek Resources Corp. has been advised by its option partner, Anaconda Mining Inc., that Anaconda has completed a preliminary work program at the Jackson's Arm property, which is part of Anaconda's Great Northern project, located approximately 20 kilometres north of Anaconda's Viking project. The work program was successful in defining areas of prospectivity within the property by determining key geological controls associated with known surface mineralization.

The Jackson's Arm property is under option from Metals Creek, whereby Anaconda can earn a 100-per-cent interest by making payments of $200,000, issuing to Metals Creek 500,000 shares of Anaconda and completing work expenditures of $750,000 over three years. After vesting, Metals Creek will retain a 2-per-cent net smelter return royalty.

The following descriptions are taken from Anaconda news release dated Jan 12, 2017.

Key exploration highlights:

• Completed 15 line kilometers of geological mapping, including detailed mapping of 10 trenches;
• Outlined a continuous zone of gold mineralization and alteration that is 1.7 kilometers long by 40 to 400 meters wide;
• Defined 4 kilometers of exploration potential to the north (1 kilometer) and east (3 kilometers);
• Rock samples assayed 24.5 grams per tonne ("g/t") gold and 0.03 g/t gold (Boot N' Hammer Prospect), 11.7 g/t gold (Stocker Prospect) and 3.35 g/t gold (Trench JT1);
• Determined that gold mineralization and alteration are associated with a series of fault zones that are splays off the Doucer's Valley Fault; a similar setting to the Pine Cove Deposit at the Point Rousse Project.

Geological Mapping

During the late fall of 2016, Anaconda completed a total of 15 line kilometers of grid, geological mapping and mapped 10 trenches in detail. Mapping outlined a 1.7-kilometer long by 40 to 400-meter wide continuous alteration zone that is host to the main gold prospects at Jackson's Arm on the west side of the property. The alteration is controlled by a fault zone that is interpreted to extend immediately to the north along strike beyond the current, known zone of alteration. The Company has also discovered similar repeating faults to the east (Exhibit A). Consequently, Anaconda believes the potential strike of the alteration system could extend an additional four kilometers, both north and east.

Overview of Geology

Alteration and gold mineralization is hosted within the Ordovician-aged granites of the Coney Head Complex. The alteration zone and host granites are in thrust faulted contact with younger Silurian volcanic and sedimentary rocks along its southwestern margin. This steeply ENE-dipping and NNW-striking fault zone and associated splays are interpreted to represent significant control on the localization of hydrothermal alteration and gold mineralization on the property, where the host granite forms a favourable mechanical host to gold mineralization. The fault zone is interpreted as a secondary splay off the Doucer's Valley Fault system. The host environment to gold mineralization at Jackson's Arm has been observed by Anaconda geologists at the nearby Thor and Rattling Brook Deposits, and also at the Pine Cove Mine where gold mineralization is hosted adjacent to secondary thrust fault systems.

States Alexander (Sandy) Stares, President and CEO of Metals Creek, "It is great to see the Jacksons Arm project being advanced by Anaconda. These recent results emphasize the property's potential and we look forward to results from Anaconda's continuing work. This is one of a number of properties that MEK has farmed-out to third parties while retaining an interest in the up-side. We will continue to generate new opportunities for possible farm-out while our main focus will be on our flagship Ogden Gold Project in Timmins, ON."

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d'Or, Quebec. The Company has also recently entered into an Option/JV with Trifecta Gold Ltd. on Metals Creek's Squid properties in Yukon. Metals Creek also has a JV with Benton Resources on Metals Creeks Staghorn Gold Project in Newfoundland as well as two option agreements with Anaconda Mining Inc. on Metals Creek's Jacksons Arm and Tilt Cove Properties also in Newfoundland. The company is engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.

© 2017 Canjex Publishing Ltd. All rights reserved.
Quelle: http://www.stockhouse.com/companies/bullboard/t.anx/anaconda…

[IQ4U]

Aus dem Kanadischen Board:

prospects

Key exploration highlights Completed 15 line kilometres of geological mapping, including detailed mapping of 10 trenches; Outlined a continuous zone of gold mineralization and alteration that is 1.7 kilometres long by 40 to 400 metres wide; Defined 4 kilometres of exploration potential to the north (1 kilometre) and east (3 kilometres); Rock samples assayed 24.5 grams per tonne ("g/t") gold and 0.03 g/t gold (Boot N' Hammer Prospect), 11.7 g/t gold (Stocker Prospect) and 3.35 g/t gold (Trench JT1); Determined that gold mineralization and alteration are associated with a series of fault zones that are splays off the Doucer's Valley Fault; a similar setting to the Pine Cove Deposit at the Point Rousse Project. President and CEO, Dustin Angelo, states, "Our recent work has shown that the main gold occurrences at Jackson's Arm are hosted along a series of secondary fault zones linked to the regional scale Doucer's Valley Fault system. This relationship further highlights the potential to host gold along and adjacent to multiple property scale faults that cross the area. We are pleased with the size and continuity of the alteration zone and now feel that we have the pertinent geological information upon which to build more advanced exploration. The continuation and repetition of the host structures to the immediate north and east demonstrates the potential for future discovery on this property. Having another potentially gold-bearing project similar in setting to the Pine Cove pit, near water and relatively close to the Pine Cove Mill, is a great asset for the Anaconda exploration portfolio."

Read more at http://www.stockhouse.com/companies/bullboard/t.anx/anaconda…

[IQ4U]

Anaconda Mining meldet Ergebnisse des Novemberquartals

16.01.2017 | Minenportal.de

Anaconda Mining Inc. veröffentlichte am Freitag Finanz- und Produktionszahlen des zum 30. November 2016 geendeten zweiten Quartals des Finanzjahres 2017.

Während der drei Monate erzielte das Unternehmen durch den Verkauf von 4.388 Unzen Gold zu einem durchschnittlichen Preis von 1.689 CAD je Unze einen Umsatz von 7,4 Mio. CAD. Im Vorjahresquartal waren 4.605 Unzen Gold zu einem durchschnittlichen Preis von 1.476 CAD je Unze für einen Umsatz von 6,8 Mio. CAD verkauft worden.

Von September bis November wurden 108.045 Tonnen Erz (1.302 Tonnen pro Tag) mit einem durchschnittlichen Gehalt von 1,38 g/t Gold verarbeitet. Die Ausbeute lag bei 85%.

Anaconda verzeichnete für das Quartal einen Nettogewinn von 0,72 Mio. CAD. Im Vorjahreszeitraum hatte dieser bei 0,77 Mio. CAD gelegen.


© Redaktion MinenPortal.de

Quelle: http://www.goldseiten.de/artikel/315190--Anaconda-Mining-mel…

[bigyawn]

Anaconda earns $723,181 in Q2 fiscal 2017

2017-01-13 17:42 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING SELLS 4,388 OUNCES AND GENERATES $3.0M OF EBITDA AT THE POINT ROUSSE PROJECT FOR Q2 FISCAL 2017

Anaconda Mining Inc. has released its financial and operating results for the three months ended Nov. 30, 2016. The company sold 4,388 ounces of gold resulting in $7,411,279 in revenue at an average sales price of $1,689 ($1,273 (U.S.)) per ounce. Cash cost per ounce sold at the Point Rousse project for the three months ended Nov. 30, 2016, was $1,036 ($781 (U.S.)). The company generated positive earnings before interest, taxes, depreciation and amortization, and other non-cash expenses of $3,029,080 at the Point Rousse project. Net income for the three months ended Nov. 30, 2016, was $723,181. As at Nov. 30, 2016, the company had cash and cash equivalents of $480,210 and net working capital of $1,752,360.

President and chief executive officer, Dustin Angelo, stated: "Operationally, Anaconda rebounded well in the second quarter of fiscal 2017, producing and selling 4,388 ounces of gold, a 50-per-cent increase from the first quarter. Most notably, the Pine Cove mill reached a new record level of throughput at over 1,300 tonnes per operating day. On the cost side, our cash operating cost per ounce for the second quarter of $1,036 per ounce was well below our trailing eight quarters of $1,086 per ounce largely due to a reduced strip ratio and increased gold production. All-in cash cost of $1,625 per ounce for the second quarter was also much improved, 33 per cent lower than the first quarter of fiscal 2017. In the second half of fiscal 2017, we are forecasting better gold production because of expected higher grade and lower all-in sustaining cash cost per ounce due to a further reduction in strip ratio and lower capital and exploration expenditures."

Highlights for the three and six months ended Nov. 30, 2016:

As at Nov. 30, 2016, the company had cash and cash equivalents of $480,210 and net working capital of $1,752,360.
For the three months ended Nov. 30, 2016, the company sold 4,388 ounces of gold and generated $7,411,279 in revenue at an average sales price of $1,689 ($1,273 (U.S.)) per ounce.
For the six months ended Nov. 30, 2016, the company sold 7,307 ounces of gold and generated $12,331,016 in revenue at an average sales price of $1,688 ($1,287 (U.S.)) per ounce.
Cash cost per ounce sold at the Point Rousse project for the three and six months ended Nov. 30, 2016, was $1,036 ($781 (U.S.)) and $1,119 ($853 (U.S.)) per ounce, respectively.
All-in sustaining cash cost per ounce sold (AISC), including corporate administration, capital expenditures and exploration costs, for the three and six months ended Nov. 30, 2016, was $1,625 ($1,225 (U.S.)) and $1,938 ($1,477 (U.S.)) per ounce, respectively.
The mill processed 1,302 tonnes of ore per operating day for the three months ended Nov. 30, 2016.
The overall recovery in the mill for the three and six months ended Nov. 30, 2016, was 85 per cent.
At the Point Rousse project, EBITDA for the three and six months ended Nov. 30, 2016, was $3,029,080 and $4,316,647, respectively.
On a consolidated basis, EBITDA for the three and six months ended Nov. 30, 2016, was $2,359,601 and $2,964,380, respectively.
Net income for the three and six months ended Nov. 30, 2016, was $723,181 and $343,616, respectively.
Purchase of property, mill and equipment for the six months ended Nov. 30, 2016, was $1,496,493. Key items included tailings and polishing pond construction of $1,087,000, mill equipment upgrades of $291,000, and permitting/legal costs of $84,000 related to the construction of the marine dock facility for the aggregates venture.
Production stripping assets for the six months ended Nov. 30, 2016, include additions of $1,283,856 and amortization of $235,326.
Approximately $2,015,000 was spent on exploration for the six months ended Nov. 30, 2016, which included drilling, trenching, mapping and mineral resource estimates.

Operations overview

During the three months ended Nov. 30, 2016, gold sales volume of 4,388 ounces represented a 5-per-cent decrease over the same period in fiscal 2016, largely due to a 17-per-cent decrease in grade. The decline in grade was offset by 13-per-cent-higher throughput compared with the second quarter in fiscal 2016. Average sales price for the three months ended Nov. 30, 2016, of $1,689 per ounce was 14 per cent more than the $1,476 per ounce realized during the same period in fiscal 2016. Driven by the higher gold price and mill throughput, gross revenue for the three months ended Nov. 30, 2016, of $7,411,279 was higher than the same period in fiscal 2016 by $613,204, or 9 per cent.

Unit cost analysis

During the quarter ended Nov. 30, 2016, cash operating cost per ounce was $1,036 compared with cash operating cost in the first quarter of fiscal 2017 of $1,244. The reduction in cash cost was driven by the company's higher sales volume of 4,388 ounces compared with 2,919 ounces in the previous quarter of fiscal 2017.

All-in sustaining cost per ounce was $1,625 in the second quarter compared with $2,408 in the first quarter of fiscal 2017. The primary drivers of the reduction in AISC per ounce were sales volume and a decrease in the strip ratio from between 8.2 to 1 and 4.6 to 1. The average quarterly AISC per ounce for the trailing eight quarters has been $1,600. Based on the mine plan, the company expects a further reduction in the strip ratio to 3.3 to 1 and all-in sustaining cash cost for the second half of fiscal 2017 to be $1,434 per ounce.

Milling operations

The attached milling operations statistics table summarizes the key mill operating metrics for the three and six months ended Nov. 30, 2016, and 2015.

MILLING OPERATIONS STATISTICS

For the three months ended For the six months ended
Nov. 30, 2016 Nov. 30, 2015 Nov. 30, 2016 Nov. 30, 2015
Mill
Operating days 83 81 171 167
Availability 91% 88% 94% 91%
Dry tonnes processed 108,045 95,629 207,486 192,161
Tonnes per 24-hour period 1,302 1,181 1,213 1,151
Grade (grams per tonne) 1.38 1.66 1.28 1.64
Overall mill recovery 85% 87% 85% 87%
Gold sales volume (troy oz) 4,388 4,605 7,307 8,561

The Pine Cove mill operated for 83 days during the second quarter of fiscal 2017 at an availability rate of 91 per cent, a three-percentage-point increase over the availability in the second quarter of fiscal 2016. The mill achieved an average run rate of 1,302 tonnes per operating day compared with 1,181 tonnes per operating day in the second quarter of fiscal 2016, a 10-per-cent increase. The Pine Cove mill processed 108,045 dry tonnes of ore during the quarter compared with 95,629 dry tonnes of ore in the similar period of fiscal 2016, a 13-per-cent increase. Overall mill recovery was 85 per cent compared with 87 per cent in second quarter fiscal 2016. Average feed grade during the quarter was 1.38 grams per tonne, lower than the second quarter of fiscal 2016, but 18 per cent higher than the first quarter of fiscal 2017 and in line with expectations for the rest of the year.

Mining operations

The attached mining operating statistics table summarizes the key mining operating metrics for the three and six months ended Nov. 30, 2016, and 2015.

MINING OPERATING STATISTICS

For the three months ended For the six months ended
Nov. 30, 2016 Nov. 30, 2015 Nov. 30, 2016 Nov. 30, 2015
Mine -- total
Operating days 74 73 157 151
Ore production (tonnes) 129,078 117,133 237,383 221,411
Waste production (tonnes) 595,668 559,961 1,485,788 1,202,789
Total production (tonnes) 724,746 677,094 1,723,171 1,424,200
Waste-to-ore ratio 4.6 4.8 6.3 5.4

Mine -- Pine Cove pit
Operating days 74 64 157 142
Ore production (tonnes) 129,078 105,947 237,383 210,225
Waste production (tonnes) 595,668 529,718 1,485,788 1,172,546
Total production (tonnes) 724,746 635,665 1,723,171 1,382,771
Waste-to-ore ratio 4.6 5.0 6.3 5.6

Mine -- Stog'er Tight
Operating days - 9 - 9
Ore production (tonnes) - 11,186 - 11,186
Waste production (tonnes) - 30,243 - 30,243
Total production (tonnes) - 41,429 - 41,429
Waste-to-ore ratio - 2.7 - 2.7

The mining operation at the Point Rousse project operated for 74 days in the quarter in the Pine Cove pit. Total production was 129,078 tonnes of ore and 595,668 tonnes of waste for a strip ratio of 4.6 to 1, waste to ore. Total tonnes mined at the Pine Cove pit were 14 per cent higher compared with the second quarter of fiscal 2016. The increased levels of production through the second quarter of fiscal 2017 resulted in the completion of rock placement for phase 1 of the tailings storage facility 2. Tonnes mined and strip ratio decreased, relative to the first quarter of fiscal 2017, 27 per cent and 44 per cent, respectively, and are expected to be further reduced during the second half of fiscal 2017.

About Anaconda Mining

Anaconda Mining is a growth-oriented, gold mining and exploration company with a producing project called the Point Rousse project and three exploration/development projects called the Viking and Great Northern projects and the Tilt Cove property in Newfoundland.

As the only pure play gold producer in Atlantic Canada, Anaconda Mining is turning the rock lived on into a growing and profitable resource. With a young and motivated work force, innovative technology, and the support of local suppliers, Anaconda is investing in the people of Newfoundland and Labrador and giving back to the communities in which it operates -- building a better future for all its stakeholders, from the ground up.

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd. All rights reserved.

[supideti]

TORONTO, Jan. 13, 2017 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") – (TSX:ANX) is pleased to report its financial and operating results for the three months ended November 30, 2016 (the "Quarter"). The Company sold 4,388 ounces of gold resulting in $7,411,279 in revenue at an average sales price of $1,689 (USD$1,273) per ounce. Cash cost per ounce sold at the Point Rousse Project for the three months ended November 30, 2016 was $1,036 (USD$781). The Company generated positive earnings before interest, taxes, depreciation and amortization and other non-cash expenses ("EBITDA") of $3,029,080 at the Point Rousse Project. Net income for the three months ended November 30, 2016 was $723,181. As at November 30, 2016, the Company had cash and cash equivalents of $480,210 and net working capital of $1,752,360.
Read more at http://www.stockhouse.com/companies/bullboard/t.anx/anaconda…

[bigyawn]

Anaconda Mining samples up to 24.5 g/t Au at Jackson's

2017-01-12 07:41 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING DEMONSTRATES EXPLORATION POTENTIAL OF THE GREAT NORTHERN PROJECT; ASSAYS UP TO 24.5 G/T AU FROM GRAB SAMPLES AT JACKSON'S ARM

Anaconda Mining Inc. has completed a preliminary work program at the 100-per-cent-held Jackson's Arm property, part of the Great Northern project, located approximately 20 kilometres north of Anaconda's Viking project. The work program was successful in defining areas of prospectivity within the property by determining key geological controls associated with known surface mineralization.

Key exploration highlights

Completed 15 line kilometres of geological mapping, including detailed mapping of 10 trenches;
Outlined a continuous zone of gold mineralization and alteration that is 1.7 kilometres long by 40 to 400 metres wide;
Defined four kilometres of exploration potential to the north (one kilometre) and east (three kilometres);
Rock samples assayed 24.5 grams per tonne (g/t) gold and 0.03 g/t gold (Boot N' Hammer prospect), 11.7 g/t gold (Stocker prospect) and 3.35 g/t gold (trench JT1);
Determined that gold mineralization and alteration are associated with a series of fault zones that are splays off the Doucer's Valley fault, a similar setting to the Pine Cove deposit at the Point Rousse project.

President and chief executive officer Dustin Angelo stated: "Our recent work has shown that the main gold occurrences at Jackson's Arm are hosted along a series of secondary fault zones linked to the regional-scale Doucer's Valley fault system. This relationship further highlights the potential to host gold along and adjacent to multiple property-scale faults that cross the area. We are pleased with the size and continuity of the alteration zone and now feel that we have the pertinent geological information upon which to build more advanced exploration. The continuation and repetition of the host structures to the immediate north and east demonstrates the potential for future discovery on this property. Having another potentially gold-bearing project similar in setting to the Pine Cove pit, near water and relatively close to the Pine Cove mill, is a great asset for the Anaconda exploration portfolio."

Geological mapping

During the late fall of 2016, Anaconda completed a total of 15 line kilometres of grid, geological mapping and mapped 10 trenches in detail. Mapping outlined a 1.7-kilometre-long-by-40-to-400-metre-wide continuous alteration zone that is host to the main gold prospects at Jackson's Arm on the west side of the property. The alteration is controlled by a fault zone that is interpreted to extend immediately to the north along strike beyond the current, known zone of alteration. The company has also discovered similar repeating faults to the east. Consequently, Anaconda believes the potential strike of the alteration system could extend an additional four kilometres, both north and east.

Overview of geology

Alteration and gold mineralization are hosted within the Ordovician-aged granites of the Coney Head complex. The alteration zone and host granites are in thrust-faulted contact with younger Silurian volcanic and sedimentary rocks along the southwestern margin. This steeply east-northeast-dipping and north-northwest-striking fault zone and associated splays are interpreted to represent significant control on the localization of hydrothermal alteration and gold mineralization on the property, where the host granite forms a favourable mechanical host to gold mineralization. The fault zone is interpreted as a secondary splay off the Doucer's Valley fault system. The host environment to gold mineralization at Jackson's Arm has been observed by Anaconda geologists at the nearby Thor and Rattling Brook deposits, and also at the Pine Cove mine where gold mineralization is hosted adjacent to secondary thrust fault systems.

Great Northern project overview

The Great Northern project is located near the community of Jackson's Arm, Nfld., and is centred along the Doucer's Valley fault, a regional splay off the Long Range fault. The Doucer's Valley fault is a significant geological control on and host to several gold deposits, including Anaconda's Thor deposit (83,000 ounces indicated and 31,000 ounces inferred resources*) and the Rattling Brook deposit (495,000 ounces inferred resources**).

The Great Northern project boasts several gold prospects and showings, including the Shrik, Stocker, Boot N' Hammer, 954 prospects and the Incinerator Trail zone. Surface grab samples assaying up to 24.5 g/t gold and 1,232.0 g/t silver at the Boot N' Hammer prospect; up to 56.7 g/t gold and 2.75 ounces per tonne silver at the Stocker prospect; up to 7.2 g/t gold at the Shrik prospect; and 13.6 g/t gold at the 954 prospect. The Incinerator Trail zone has been tested by four reconnaissance-style diamond drill holes in the 1980s and returned gold assays of 1.78 g/t gold over four metres (hole RB-35) and 2.30 g/t gold over 4.05 metres (hole RB-41).

Notes

* Resource taken from the National Instrument 43-101 report for the Viking project entitled "NI 43-101 technical report and mineral resource estimate on the Thor deposit, Viking project, White Bay area, Newfoundland and Labrador, Canada," with an effective date of Aug. 29, 2016.

** Resource taken from the NI 43-101 report for the Jackson's Arm project entitled "Technical report on mineral resource estimate for Jackson's Arm gold project, White Bay area, Newfoundland and Labrador, latitude 49 degrees 53 minutes 2.65 seconds north, longitude 56 degrees 50 minutes 7.09 seconds west," with an effective date of April 20, 2009. Prepared for: Kermode Resources Ltd. by Mercator Geological Services Ltd.

This news release 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.

About Anaconda Mining

Anaconda Mining's Point Rousse project is approximately 6,300 hectares of property on the Ming's Bight peninsula located in the Baie Verte mining district in Newfoundland, Canada. A second project, called the Tilt Cove property, consisting of 350 hectares, is located approximately 60 kilometres by road from the Pine Cove mill.

Anaconda also controls the Viking and Great Northern projects, which have approximately 6,225 hectares and 6,375 hectares of property, respectively, in White Bay, Newfoundland. The company's plan is to discover and develop more resources within these project areas and substantially increase annual production at the Pine Cove mill from its current rate of nearly 16,000 ounces.

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