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Anaconda Mining Updated Resource Estimate for Point Rousse Gold Project

Mining News - Published on Tue, 22 Sep 2020

Image Source: Anaconda Mining Point Rousse Gold Project
Anaconda Mining Inc announced the filing of a technical report prepared in accordance with National Instrument 43-101 reporting on updated Mineral Resource and Mineral Reserves estimates for its 100%-owned Point Rousse Gold Project in Newfoundland and Labrador, Canada. The technical report follows the previous announcement on August 4, 2020 outlining the updated MRMR for the Argyle Deposit at Point Rousse

All dollar amounts are in CDN $ unless otherwise stated

Highlights of the Mineral Resource and Mineral Reserves at Point Rousse Include:

Point Rousse Probable Mineral Reserve includes material from Argyle, the Pine Cove Mine and the Pine Cove Run of Mine stockpile and includes 706,443 tonnes at an average diluted grade of 1.90 grams per tonne gold containing 43,183 ounces, based on a gold price of $1,900 (US$1,425);

Point Rousse combined Indicated Mineral Resource of 1,470,000 tonnes at an average grade of 2.34 g/t gold containing 110,800 ounces, and a combined Inferred Mineral Resource of 515,000 tonnes at an average grade of 3.33 g/t gold containing 55,100 ounces;

Mineral Reserves from the Pine Cove Mine Pit and ROM stockpile include 170,851 tonnes at an average diluted grade of 1.40 g/t gold, which will provide mill throughput into late Q4 2020;

Mineral Reserves from the Argyle Deposit include 535,592 tonnes at an average diluted grade of 2.06 g/t gold containing 35,477 ounces; and

At Argyle a pre-tax net present value at a 5% discount rate ("NPV 5%") of $13.1M and an Internal Rate of Return ("IRR") of 262%, and an after-tax NPV 5% of $11.4M with an IRR of 245%, all based on a $1,900 (US$1,425) gold price.

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Posted By : Yogender Pancholi on Tue, 22 Sep 2020
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