GUYSBOROUGH – Anaconda Mining released more encouraging results on Jan. 14 from its drilling work at its Goldboro property.
"The second major diamond drilling campaign that we have conducted at Goldboro since we acquired the project continues to meet or exceed our expectations,” said Anaconda President Dustin Angelo in a news release. The company has identified additional mineralized zones at the site.
“We completed our 10,000-metre drill program in December and are developing plans for an additional 5,000 metres of drilling in the first half of 2019,” Angelo said. “Results from these drill programs will be incorporated into an updated Mineral Resource estimate and form the basis of a Goldboro feasibility study to be completed in 2019."
Anaconda is currently undertaking a 10,000-tonne bulk sample extraction and testing project to help inform the feasibility study. The company has engaged Cementation Canada Inc. as the mining contractor to assist in the bulk sample work. This process is expected to take approximately four months with results to follow.
The company has hired local residents and contractors to carry out security-related duties, surface clearing, transportation and other activities in connection with the bulk sample work. In total, including employees of Cementation, approximately 50 people will be working on the bulk sample at Goldboro.
Anaconda has also, on August 1, 2018, registered the Goldboro Project with the Nova Scotia Department of Environment and is currently working on preparing a Focus Report which is expected to be submitted early in 2019.
The Goldboro Gold Project is scheduled to start pre-production in 2020.