Anaconda Mining Inc. (TSX:ANX) announced results from additional drilling at the Pine Cove mine in Newfoundland.
As quoted in the press release:
Western Extension Area
- Hole PC-13-202 intersected multiple intervals of gold mineralization including 20.0 metres of 2.15 grams per tonne (“g/t”) gold from a depth of 73.1 metres and 12.7 metres of 1.28 g/t gold from a depth of 108.9 metres;
- Hole PC-13-203 intersected 4.0 metres of 2.21 g/t gold from a depth of 108.0 metres;
- New mineralization encountered within the ultimate pit limit boundary, but outside of the existing mine plan; and
- 1,000-metre follow-up drill program is underway to expand this new zone and assess potential for open pit extension and mining cost reductions.
Anaconda’s President and CEO, Dustin Angelo, said:
The western extension area, a new mineralized zone on the fringe of our open pit, continues to show promise. The mineralized zone remains open to the northwest and we’ve initiated a second round of drilling to potentially expand the mineralization in this direction. This area has not been previously drill tested and the presence of unexplained coincident historic gold-in-soil geochemical and chargeability anomalies highlight the potential for additional discoveries.