GUYSBOROUGH: The company behind a proposed gold project for Goldboro has produced initial test results that have turned out to be positive.
Anaconda Mining Inc. hosted a meeting in the community on January 15 to provide an update on the Goldboro project.
“Just over a year-and-a-half ago, we acquired the project at a compelling valuation and in a short period of time, we have produced a positive preliminary economic assessment,” Dustin Angelo said, president and CEO of Anaconda. “We registered the project for environmental permitting, initiated a 10,000-tonne bulk sample, and drilled a further 12,000 metres which increased the deposit to over 600,000 ounces of measured and indicated resources and over 450,000 ounces of inferred resources.”
Fifteen drill holes totaling 4,866 metres successfully infilled the West Goldbrook gold system, encountering 23 occurrences of visible gold and mineralization characteristic of the Goldboro gold deposit.
“The second major diamond drilling campaign that we have conducted at Goldboro since we acquired the project continues to meet or exceed our expectations,” Angelo highlighted. “In this portion of our 10,000-metre drill program, we focused on the potential of West Goldbrook and made significant advances in increasing the confidence level in the continuity of the mineralized system and extending it at depth to 450 metres.”
He said not only has Anaconda been confident in the expansion potential but now they see substantial upside in growing the Goldboro gold deposit through the discovery of more mineralized zones in West Goldbrook.
“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.”
Following the regular monthly council meeting on January 16, Vernon Pitts, the Warden of the Municipality of the District of Guysborough, explained representatives with Anaconda have been completing extensive drilling since July and he said things are looking phenomenal.
“They’ve made some magnificent strides, big strides the last little while, and they continue to do so,” he said. “They have a plan going forward; they’ll be filing their plan, hopefully, late spring – early summer, and we’re looking forward to them setting down roots in our municipality.”
Representatives from Anaconda Mining Inc. filed their updated technical report last month regarding an update to the mineral resource estimate for their proposed 125-hectare mine in Goldboro.
“The filing of the technical report represents the culmination of significant milestones to date in the development of the Goldboro gold project,” Angelo said. “We look forward to further progress in 2019 as we begin a feasibility study and continue to advance all required permits with the aim of beginning construction in 2020.”
Construction on the Goldboro Gold Project could start as early as next winter.