Anaconda files an updated technical report on the Point Rousse Project, Baie Verte, Newfoundland and Labrador
December 8, 2015 (Source: CNW) — Anaconda Mining Inc. (“Anaconda” or the “Company”) – (TSX: ANX) is pleased to announce that further to the Company’s news release dated October 22, 2015, it has filed an NI 43-101 Technical Report on SEDAR (www.sedar.com) titled “NI43-101 Technical Report, Mineral Resource and Mineral Reserve Update on the Pine Cove Mine and Mineral Resource Estimate on the Stog’er Tight Deposit, Point Rousse Project, Baie Verte, Newfoundland and Labrador, Canada“.
The Technical Report was authored by independent qualified persons David Copeland, P. Geo. (an independent consultant) and Catherine Pitman, P.Geo. (AMC Mining Consultants (Canada) Ltd.). and qualified persons David Evans, P.Geo. (Silvertip Exploration Consultants Inc.), Paul McNeill, P. Geo. (Anaconda) and Gordana Slepcev, P. Eng. (Anaconda).
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This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a “Qualified Person”, under National Instrument 43-101 Standard for Disclosure for Mineral Projects.
Headquartered in Toronto, Canada, Anaconda is a growth oriented gold mining and exploration company with a producing project, called the Point Rousse Project, and approximately 6,300 hectares of exploration property on the Ming’s Bight Peninsula located in the Baie Verte Mining District in Newfoundland, Canada. Since 2012, Anaconda has increased its property control by ten-fold. It is currently exploring three primary prospective gold trends which have approximately 20 kilometres of cumulative strike length and include four deposits and numerous prospects and showings, all within 8 kilometres of the Pine Cove mill. The Company’s plan is to discover and develop more resources within the project area and double annual production from its current rate of approximately 15,000 ounces to 30,000 ounces.
FORWARD LOOKING STATEMENTS
This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, statements regarding growth and is based on current expectations and assumptions of management that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to: the expectations of the Company in expanding Mineral Resources and project mine life and the timing thereof, current and future market trends and growth opportunities and whether the Company will be able to capitalize upon them. Forward-looking statements may include words such as “plans,” “may,” “estimates,” “expects,” “indicates,” “targeting,” “potential” and similar expressions. These forward-looking statements are based on current expectations and are subject to significant risks and uncertainties, including the risks factors outlined in the Company’s latest annual information form and other continuous disclosure documents filed at www.sedar.com, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances, except as required by law.
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