GUYSBOROUGH – Anaconda Mining has received more good news from test drilling at its Goldboro property, where it hopes to establish a gold mining operation.
The latest drill hole results shows resource lines extend further down than previous thought. The company announced the assay results for the first five holes of its ongoing 6,000-metre diamond drilling program at Goldboro on Feb. 7, 2018.
One drill hole in particular “demonstrated that we can grow the deposit,” Dustin Angelo, president of Anaconda Mining, told The Journal Monday. And that will contribute positively to the company’s upcoming feasibility study for its Goldboro project.
“We are very pleased with the results,” he said. “They’re very similar to historical results.”
Angelo said Anaconda will continue with test drilling over the coming year, while also undertaking the feasibility study. Next steps also include permitting and getting a “bulk sample” from the site.
“One of the key wild cards for us is the permitting process,” said Angelo. “To some extent it is out of our control. Positive or negative it will impact our goal of getting into production in the time frame we want to.”
Environmental permitting may involve going through both provincial and federal processes, he said.
Angelo said keeping the community up-to-date on the company’s progress remains a priority.
“To date we’ve had a lot of really good community support and we will continue to do our part to keep everyone informed.”
Anaconda currently operates the Point Rousse gold mine project in the Baie Verte Mining District of Newfoundland and Labrador.