Fakten, News und Diskussionen zu Anaconda Mining.Börsentermine des Tages | Meist führen holprige Straßen zu den schönsten Orten. | Gut verdient dank Peketec? Gib der Community etwas zurück -> Club
ANACONDA MINING INC
Anaconda Mining Breaks Ground at Pine Cove Gold Mine Site
7/5/2007
TORONTO, ONTARIO, Jul 5, 2007 (CCNMatthews via COMTEX News Network) --
Anaconda Mining Inc. ("Anaconda" or "the Company") (TSX:ANX)(FRANKFURT:GJ2) is pleased to announce that mine construction has begun at the Company's Pine Cove gold mine project near Baie Verte, Newfoundland.
The ground breaking for the newest gold mine in the Province of Newfoundland and Labrador took place last week following the receipt of the government's approval of Anaconda's Mine Development Plan. (Pictures of the start of site construction are posted on Anaconda's website at www.anacondamining.com).
With the start of mine site construction, Anaconda remains on schedule to start mining operations in the fourth quarter of this year.
"Starting construction of our first gold mine is an important milestone for our Company", Lew Lawrick, Chairman and CEO of Anaconda said. "Combined with our Chilean portfolio of advanced stage copper and gold projects, we are poised for considerable growth over the next year," Mr. Lawrick added.
Pine Cove hosts probable reserves of 2,332,676 tonnes grading 2.76 grams gold per tonne for 207,000 oz. of gold. Inferred resources total 66,700 tonnes grading 2.43 grams gold per tonne for 5,200 oz. of gold. The above reserves and resources were prepared utilizing a cut-off grade of 0.95 grams gold per tonne.
The reserve estimate was completed by independent mining consultants and Qualified Persons, as defined by NI 43-101, Eugene Puritch, P.Eng. and Dr. Wayne Ewert, P.Geo. of P&E Mining Consultants Inc. of Brampton, Ontario. (See Anaconda press release dated April 28, 2005 at www.anacondamining.com or at www.sedar.com).
Upon commencement of commercial production, Anaconda will have earned its 60% interest in the Pine Cove project from New Island Resources Inc. (TSX VENTURE:NIS), the Company's partner at Pine Cove.
The terms of the underlying agreement also provide Anaconda with 100% of all project cash flow until capital payback is achieved and certain sunk costs are recovered. In addition, as operator of the Pine Cove project, Anaconda will receive project management fees.
Anaconda Mining Inc. is an emerging gold producer with a portfolio of advanced stage exploration and development projects in Chile and Canada. For more information please visit our new website at: www.anacondamining.com.
Certain statements contained herein constitute "forward-looking statements". These forward-looking statements are based on current expectations. The nature, timing and extent of the exploration programs may materially change from current intentions for a number of reasons.
Additionally, "forward looking statements" look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements, including statements regarding the Company's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations as more information regarding the property is gathered or if known and unknown risks or uncertainties affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
SOURCE: Anaconda Mining Inc.
Anaconda Mining Inc. Lew Lawrick Chairman and CEO (416) 864-3357 Email: llawrick@anacondamining.com Anaconda Mining Inc. Nick Tintor President (416) 987-0855 Email: ntintor@anacondamining.com Website: www.anacondamining.com
Copyright (C) 2007 CCNMatthews. All rights reserved.gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
NACONDA MINING INC
Anaconda Mining Begins Drill Program at Restauradora Copper-Gold Project
7/23/2007
TORONTO, ONTARIO, Jul 23, 2007 (MARKET WIRE via COMTEX News Network) --
Anaconda Mining Inc. ("Anaconda" or "the Company") (TSX: ANX)(FRANKFURT: GJ2) is pleased to report that the first phase of a 3,000-m drill program has started at the Company's Restauradora copper-gold project, located near Copiapo, Chile.
The exploration objectives will explore for extensions of mineralized zones at the Restauradora mine towards the south and southeast, and to drill test for depth extensions below the former mine workings.
Previous exploration work
Previous exploration work completed by Anaconda outlined two significant geophysical anomalies defined by both induced polarization (IP) and magnetics surveys. This work was completed earlier this year. The first anomaly, a resistivity low, extends for 1,500 m south from the former Restauradora mine workings and is up to 700 m in width. This anomaly remains open towards the south and a follow up IP geophysical survey is planned to define the limits of the anomaly. The second anomaly extends for 1,000 m over the San Jose mineralized zone and is up to 600 m in width.
Anaconda has also completed an underground sampling program on the main Restauradora mine underground levels, which identified mineralized structures striking for 100 m, displaying widths up to 30 m and extending for 150 m at depth.
The average grades of the 286 channel samples completed are 0.87% total copper, 140 ppm molybdenum and 0.37 grams gold per tonne.
Mineralization
Mineralization at Restauradora is characterized by IOCG (iron oxide copper gold) mineralization which is typical for the Copiapo coastal range area of Chile. Copper-gold-molybdenum mineralization at Restauradora occurs in stock work zones with sulphide rich wall rocks. The upper 30 m is leached from surface whereas the oxidation zone extends to a depth of 100 m and is characterized by atacamite-malachite-cuprite-tenorite and chrysocolla oxide minerals. Primary sulphide minerals include chalcopyrite and pyrite.
The Company has the right to earn a 100% interest in the Restauradora project by making staged payments to the underlying vendors totaling US$1.28 million by November, 2009.
Other developments
In other developments, Anaconda has agreed to extend until August 10, 2007, the period in which Anaconda and Industrias Penoles, S.A. de C.V. ("Penoles") have agreed to enter into definitive agreements for Anaconda's Carmen copper-gold project near Copiapo, Chile. (See Anaconda Press Release dated June 7, 2007 for details about the Carmen-Penoles agreement at www.anacondamining.com).
John Cook, P.Eng., a designated Qualified Person as defined by NI 43-101 of the Canadian Securities Administrators, is responsible for reviewing the contents of this news release.
Anaconda Mining is an emerging gold producer with a portfolio of advanced stage exploration and development projects in Canada and Chile.
Certain statements contained herein constitute "forward-looking statements". These forward looking statements are based on current expectations. The nature, timing and extent of the exploration programs may materially change from current intentions for a number of reasons. Additionally, "forward looking statements" look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements, including statements regarding the Company's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations as more information regarding the property is gathered or if known and unknown risks or uncertainties affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
mailto:llawrick@anacondamining.com mailto:ntintor@anacondamining.com http://www.anacondamining.com
Copyright 2007 Market Wire, All rights reserved.gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
Das ist neben den Drillings die wichtigste News: Minenstart!!
In the St. John's Evening Telegram:
Pine Cove spins gold by year end
Construction continues at the Baie Verte Peninsula project
MOIRA BAIRD
The Telegram
The owners of the Pine Cove gold mine on the Baie Verte Peninsula expect to produce their first ounce of the precious metal by year end.
It will be the province’s only producing gold mine.
Anaconda Mining Inc. is spending about $6.2 million to get the mine and mill up and running to meet its deadline.
“That’s still our timing — end of the year, definitely early next year — that plant will be finished and we will have a stockpile of ore that we start feeding through the plant,” said Nick Tintor, president of Anaconda.
Located six kilometres northeast of the Town of Baie Verte, the Pine Cove mine is expected to produce 217,000 ounces of gold from more than 2.3 million tonnes of ore. Tintor says the company will start producing about 500 tonnes of ore per day.
Construction of the mine and mill site started in late June, and the company has faced some delays in getting supplies.
Worldwide demand for structural steel is high.
“Steel buildings are now a 16-week delivery for new orders. It’s a pre-engineered building,” said Allan Cramm, general manager for Anaconda.
“I’m still optimistic we’ll be OK.”
Hoping for December start
He expects to commission the mill in December.
“That’s still our target. We’ve moved ahead a little bit because of delays in getting some of the supplies,” said Cramm.
That means juggling the construction schedule.
“We’re looking for ways to stay on track,” said Tintor. “All our key mill-plant components are on site or in Baie Verte in storage. We’re continuing with hiring.”
Pine Cove is the third gold mine for Cramm.
A mining engineer who grew up in the town of Baie Verte, he previously worked on the Nugget Pond and Hammerdown mines operated by Richmont Mines.
Also located on the Baie Verte Peninsula, both gold mines closed once they played out — Nugget Pond in 2001 and Hammerdown in 2004.
“Baie Verte was a mining town when I was growing up,” said Cramm. “There was about 1,000 people involved in mining directly between the asbestos mine and the Rambler Mine. It was boom town.”
Cramm also worked in British Columbia, and spent four years at the Hope Brook gold mine on Newfoundland’s southwest coast before it shut down in 1997.
The Baie Verte Peninsula has a long history of mining, and was home to the province’s first gold mine known as Goldenville, which was discovered in the late 1800s.
The peninsula is busy again with mineral exploration and the startup of Pine Cove.
“It’s flatout right now,” said Cramm. “I think we all consider ourselves fortunate to be able to work home.”
About 40 people have been hired during the development phase, and the bulk are contractors hired for such activities as trucking, drilling and blasting.
Tintor says the mine is starting small.
“The idea is, get it up and running, watch your capital spending and try to be frugal … and then, once it’s up and running, ideally, see if we can expand it with cash flows. That’s the strategy.”
That expansion can take the form of existing, nearby discoveries or new discoveries in the surrounding area.
“I think the provincial government geological survey outlines a little over 100 different, small to larger gold-type showings.”
On their own, Tintor says those gold showings might be uneconomic. If they’re within a 30-kilometre trucking distance of Pine Cove, he says they could be satellite mines.
“I think we’ll have to definitely spend a bit of money over the next few years on regional-scale exploration to see if we can add to that,” said Tintor. “We should be adding some reserve life to that project through exploration.”
Mint likely destination
The Pine Cove ore will be milled and sent out of the province for further refining — likely to the Royal Canadian Mint.
“The project will be producing a ‘dore’ gold,” said Tintor. “Dore gold is basically not pure, but it goes to a refinery for final refining.”
Pine Cove is the Toronto-based company’s only operation in Newfoundland and Labrador. Partnered with St. John’s-based New Island Resources, Anaconda earns a 60 per cent interest in the mine once commercial production begins.gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
Anaconda loses $371,000 in eight months ended May 31
Anaconda Mining Inc (C:ANX)
Shares Issued 55,420,635
Last Close 8/30/2007 $0.475
Friday August 31 2007 - News Release
Mr. Lew Lawrick reports
ANACONDA MINING SECOND QUARTER FINANCIAL RESULTS FOR THE PERIOD ENDED MAY 31,
2007
Anaconda Mining Inc. has released its results for the eight months ended May
31, 2007. All amounts are in Canadian dollars unless stated otherwise.
On April 18, 2007, Anaconda completed an acquisition of Colorado Minerals
Inc. by issuing 19,701,560 common shares of the company to the shareholders
of Colorado in exchange for all the issued and outstanding shares of
Colorado. As a result of the issuance, the former shareholders of Colorado
owned approximately 50.8 per cent of the then outstanding common shares of
Anaconda thereby affecting a reverse takeover (RTO) of Anaconda. Accordingly,
for accounting purposes, Colorado is deemed to be the acquirer of Anaconda,
although Anaconda is the legal parent company and the reporting issuer.
Highlights
Financial:
* As at May 31, 2007, the company had assets of $23.4-million.
* No operating revenues during the eight months ended May 31, 2007, as the
company continues to focus on exploration activities with regard to its
Canadian and Chilean project portfolio.
* Consolidated loss for the period was $371,000. The loss included
expenditures of $416,000 offset by interest income of $45,000. This
compares with expenditures of $236,000 offset by interest income of
$4,000, for 2005.
* An equity financing in April, 2006, raised $13,225,000.
The consolidated financial statements along with management's discussion and
analysis are available for viewing on the company's website and on SEDAR.
Operational
Pine Cove
Site activities at the Pine Cove gold mine near Baie Verte, Nfld., are
proceeding on schedule for anticipated start-up of mining operations in the
fourth quarter of this year. For the most recent pictures of the mine
construction development, please go to the company's website.
Carmen
Negotiations with Industrias Penoles S.A. de C.V. (Penoles), for a joint
venture on the Carmen copper-gold project near Copiapo, Chile, are
continuing. Additional time has been required by Penoles and Anaconda pending
receipt of all property title documentation from the land registry office.
With these documents now in hand the definitive agreement governing the
exploration and earn-in commitment between the companies can now be
finalized. Anaconda expects to execute the definitive agreement with Penoles
shortly.
Restauradora
Anaconda has recently completed a 10-hole reconnaissance drilling program
totalling 2,726 metres at the Restauradora copper-gold project located south
of Copiapo, Chile. Of the 10 holes completed, one hole, RREA 7-05,
intersected six m grading 3.49 per cent copper, 1.49 grams gold per tonne and
0.057 per cent molybdenum from 244 m to 250 m. This hole was designed to test
for parallel mineralized structures near the footwall of the Restauradora
vein and was successful in intersecting chalcopyrite, bornite and chalcocite
mineralization in a quartz vein.
Three other holes drilled to test a broad IP anomaly south of the former
producing Restauradora mine intersected disseminated pyrite in diorite and
quartz sericite altered rocks.
Hole RREA 7-04, designed to test for extensions of the Restauradora
mineralization to the east, failed to reach its target depth due to water
problems.
Five other holes designed to test a variety of targets on the property failed
to intersect any meaningful mineralization.
Anaconda is currently reviewing the results of this limited reconnaissance
program and will provide a more detailed update on the Restauradora project
once a final report is completed.
John Cook, PEng, a designated qualified person as defined by NI 43-101 of the
Canadian Securities Administrators, is responsible for reviewing the contents
of this news release.
Anaconda also reports that its cash and cash equivalents are not invested in
asset-backed commercial paper and are not subject to any meaningful credit or
liquidity risk.
Site activities at the Pine Cove gold mine near Baie Verte, Newfoundland, are proceeding on schedule for anticipated start up of mining operations in the fourth quarter of this year.gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
Interessantes Posting von NineLives gestern im Stockhouse board:
SUBJECT: RE: MARKET conditions, now say that.... grrrr
Posted By: NineLives
Post Time: 9/24/2007 14:32
I fully understand where you are coming from IC so try to crunch some numbers here//
Before the cosolidation financing there were about 40 million o/s.
ANX had no cash at that point.
Now with about 80 million o/s & if all the payments come in from Penoles they will have in theory about $21 million it would have been more if the C$ wasn't so strong.
That equates to about 50 cents per share for those that were issued. ANX is trading about 50 cents so basically the market has put a price on Damotti & Pine Cove of ZERO. aufmerksam
Or even if you take into account Penoles pulling out & ANX only receiving a partial payment the market still only values the two Canadian properties at about 20 cents per share. It doesn't add up, does it ? Those two properties should be worth at present day value at least 90 cents to $1 a share for ANX which gave me my target of $1.50 to $1.80. Yes it's less than i had imagined pre-consolidation but I look on the return of what might be made on tdays price & not my buying in average so a run from .50 to $1.50 is still a decent return which ever way you look at it. Of course this is all assumption & as we all know anything can happen in this speculative market. Remaining ever watchful & all I can say IC is if you think the mine will be a success then this isn't a bad level to start buying some more either to average down or begin a fresh investment. JMHO.
Level II shows most of the resistantce around the 55 level, it's tried to get through once next time might be the charm.
Ich kann diese Rechnung mit den fast 100% Abdeckung der Market Cap durch Carmen nicht ganz nachvollziehen und habe deshalb einmal meine eigene Rechnung aufgemacht:
Die Marketcap von Anaconda ist zur Zeit 55Mio shares mal 0,465 CAN$ = 25,6 Mio CAN$.
Zahlungen von Penoles:
1.) Penoles will make the initial US$3 million cash payment on September 27 of which US$2,050,000 will be paid to Anaconda
2.) During the second 12-month period, Penoles will pay Anaconda US$1,950,000
3.) During the third 12-month period, Penoles will pay Anaconda US$1,800,000
4.) At the end of the 48-month exploration period, Penoles will make a final minimum payment...Any payments in excess of US$900,000 and up to the maximum of US$3 million will be made to Anaconda.
Also insgesamt 2,05 + 1,95 + 1,80 + (0...3,00) = 5,8 + (0...3,00) Mio US$ = CAN$ (Pari zur Zeit)
Das sind schon einmal 0,10 bis 0,16 C$ per share Cash.
Insgesamt werden die 65% von Penoles durch Zahlungen von 22 Mio $ erkauft:
"Under the terms of the Agreement, Penoles has the right to earn a 65% interest over a 48-month period by spending a total of US$22 million."
Das bedeutet die bleibenden 24,5% von Anaconda an Carmen werden mit (22 Mio$ / 0,65) * 24,5% = 8,3 Mio$ bewertet.
Das sind 0,15$ = 0,15 CAN$ je share.
Insgesamt wird Carmen also mit 0,25 bis 0,31 CAN$ je share bewertet.
Das bedeutet Pine Cove und die anderen Projekte sind jetzt nur noch zwischen 0,15 CAN$ und 0,21 CAN$ (absolut 8,3 Mio CAN$ bis 11,55 Mio CAN$) Wert !!! aufmerksam
Vor dem Merger mit Carmen wurde aber Pine Cove alleine bereits mit mindestens 20-30 Mio CAN$ bewertet.
Die Website gibt zu Pine Cove folgende Parameter:
Pine Cove Project Highlights
Probable Reserves: 2,332,676 tonnes grading 2.76 g/t: 207,000 oz gold
Inferred Resources: 66,700 tonnes grading 2.43 g/t: 5,200 oz gold
Mill rate: 500 tpd
Recovery: 88.5%
Life of Mine Cash Flow: $13.9 million
NPV (5%): $9.1 million
IRR (pretax): 30%
Gold Price: US$480/oz
First Year Gold Production: 22,000 oz.
Beim jetzigen Goldpreis von 700$/oz sollten diese Werte sich deutlich erhöhen. Aber selbst wenn mann nur den Ground Value von 210000 oz Gold zu konservativ 75$ ansetzt kommt man auf: 15,750 Mio $ = CAN$ oder 0,29 CAN$ je share.
Insgesamt also mindestens 0,10 + 0,15 + 0,29 = 0,54 CAN$ pro share ohne die Phantasie der weiteren Projekte und ohne Produktion. Das ist weiter eine erhebliche Unterbewertung von ANX im boomenden Goldmarkt. Wenn da mal nicht bald eine Übernahme kommt..
von Risctec WOgemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
Personally I think the stock has been missed & undervalued for far too long, how many other juniors do you know with $15 million cash in the bank// As for news I think it's a triple good news time, Pine Cove, Carmen (Chile, other claims)& the fact that they have almost 100% of Damoti Lake ( I belive the original owner has a 2% royalty or close to) which has tremondous blue sky potential, it has a resource of around 50,000 oz's of Gold very easy to mine very rich & the whole area is open for more discoveries, nobody really knows what's around those Horseshoe claims, yes lots of drill holes but the whole area still open to lots of exploration, just check out the widths. (See Link) http://www.doublestar.net/projects/damoti/
Put it all together, remove the sellers & we have a firm that's just beginning it's upward trend. When the blue chips fall then Gold will hold or rise as more investors look for firms with real tangible assets not a piece of the internet which is so intangible it's laughable. JMHO.
Good luck to everyone here, it's been a while since we could cheer the good times.
NEW ISLAND RESOURCES INC
Anaconda Mining Advances Pine Cove Gold Mine Development
10/22/2007
TORONTO, ONTARIO, Oct 22, 2007 (MARKET WIRE via COMTEX News Network) --
Anaconda Mining Inc. ("Anaconda" or "the Company") (TSX: ANX), (FRANKFURT: GJ2) is pleased to provide the following update of activities at its Pine Cove gold mine project near Baie Verte, Newfoundland.
Construction activities at Pine Cove, the newest gold mine in the Province of Newfoundland and Labrador, are continuing with the following highlights to the end of October 15.
- Main access road has been upgraded
- Mill floor foundations completed with key plant equipment installed
- Reagant storage and fabrication building completed
- Structural steel installation completed on mill building
- Construction of haul road from the open pit to the mill started
- Leach tank agitators installed
The Company anticipates that a substantial amount of the processing plant equipment will be completed during October. The latest pictures from the Pine Cove site development are available on Anaconda's website at www.anacondamining.com.
A new schedule of construction for the delivery of hydro power to the site has been submitted by Newfoundland and Labrador Hydro which now indicates energizing the power line by January 31, 2008. The Company and Newfoundland Hydro are working towards completion at an earlier date, but as a result of this new schedule, ore processing is now anticipated to start in late January, 2008.
Also on October 3, 2007, the Government of Newfoundland and Labrador granted Anaconda approval for its Development Plan and Financial Assurance Plan for the Pine Cove project.
Pine Cove hosts probable reserves of 2,332,676 tonnes grading 2.76 grams gold per tonne for 207,000 oz. of gold. Inferred resources total 66,700 tonnes grading 2.43 grams gold per tonne for 5,200 oz. of gold. The above reserves and resources were prepared utilizing a cut-off grade of 0.95 grams gold per tonne.
The reserve estimate was completed by independent mining consultants and Qualified Persons, as defined by NI 43-101, Eugene Puritch, P.Eng. and Dr. Wayne Ewert, P.Geo. of P&E Mining Consultants Inc. of Brampton, Ontario. (See Anaconda press release dated April 28, 2005 at www.anacondamining.com or at www.sedar.com).
Upon commencement of commercial production, Anaconda will have earned its 60% interest in the Pine Cove project from New Island Resources Inc. (TSX VENTURE: NIS), the Company's partner at Pine Cove.
The terms of the underlying agreement also provide Anaconda with 100% of all project cash flow until capital payback is achieved and certain sunk costs are recovered. In addition, as operator of the Pine Cove project, Anaconda will receive project management fees.
Anaconda Mining Inc. is an emerging gold producer with a portfolio of advanced stage exploration and development projects in Chile and Canada. For more information please visit our new website at: www.anacondamining.com.
Certain statements contained herein constitute "forward-looking statements". These forward-looking statements are based on current expectations. The nature, timing and extent of the exploration programs may materially change from current intentions for a number of reasons. Additionally, "forward looking statements" look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements, including statements regarding the Company's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations as more information regarding the property is gathered or if known and unknown risks or uncertainties affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
mailto:llawrick@anacondamining.com mailto:ntintor@anacondamining.com http://www.anacondamining.com
Copyright 2007 Market Wire, All rights reserved.gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
ANACONDA MINING INC
Anaconda Mining Drills High Grade Iron Ore Intersections at San Gabriel Project
10/25/2007
TORONTO, ONTARIO, Oct 25, 2007 (MARKET WIRE via COMTEX News Network) --
Anaconda Mining Inc. ("Anaconda" or "the Company") (TSX: ANX)(FRANKFURT: GJ2) is pleased to announce that drilling on its San Gabriel iron ore project located 1000 km north of Santiago, Chile near the coastal city of Chanaral, has intersected high grading iron mineralization. Hole RSGA-05, one of five holes completed on a magnetic anomaly, intersected 62 m grading 42% iron. This intersection included a higher grading 22 m interval assaying 62.17% iron.
A second hole, RSGA-04 returned 84 m grading 35.3% iron including a 24-m interval assaying 52.4% iron. Full results from the drill program are listed below.
The San Gabriel prospect consists of 1,700 hectares of exploration concessions and includes four magnetic anomalies; two of which have seen limited past exploration activity by Rio Tinto which included the completion of 11 drill holes.
Location:
The San Gabriel Prospect lies 70 km NE of the port city of Chanaral, a city on the Pacific coast that has significant deep sea port infrastructure for iron ore exports.
History and Geology:
The prospect was discovered by Rio Tinto in 1997, during a reconnaissance exploration program that consisted of aeromagnetics and scout drilling, the scope of which was the discovery of IOCG (iron oxide copper gold) deposits. Rio Tinto completed 11 reverse circulation drill holes which targeted magnetic anomalies. The property was subsequently returned to the vendors as Rio Tinto determined the discovery of the San Gabriel iron ore mineralization was not sufficient to meet their threshold of interest at the time.
The prospect is a typical iron-magnetite skarn associated with dioritic intrusives of Jurassic to lower Cretaceous age and which intruded andesitic volcanic sequences. These skarn related deposits are typical of the Chile-Peru coastal region and form deposits ranging from a few million tons to billion ton ore bodies such as Marcona in Peru.
As a result of their proximity to coastal shipping access to the Asia Pacific region, a number of iron ore mines in Chile and Peru are being evaluated for start up or have resumed production.
Option Terms:
Anaconda has the right to earn a 100% interest in the San Gabriel prospect by making payments totaling US$2.4million over four years. The Company has made a US$20,000 payment on signing. (Please see Anaconda press release dated September 20, 2007 for complete details about the San Gabriel option agreement at www.anacondamining.com).
While drilling by Rio Tinto showed massive magnetite over 20 meter widths and stockwork zones ranging between 30 and 250 meters carrying grades up to 36% iron; Anaconda believes the available grades and thicknesses are favourable to define potentially mineable ore bodies.
Anaconda estimates that the iron ore potential at San Gabriel is attractive and plans to explore untested portions of the four magnetic anomalies on the property.
Complete results from the drill program are listed in the table below.
---------------------------------------------------------
Hole From To (m) Interval Grade
(m) (m)(i) (Fe %)
---------------------------------------------------------
---------------------------------------------------------
RSGA-1 190 320 130 15.4
---------------------------------------------------------
320 408 88 30.7
---------------------------------------------------------
including 330 382 12 33.9
---------------------------------------------------------
---------------------------------------------------------
RSGA-2 216 232 16 12.0
---------------------------------------------------------
296 304 8 12.9
---------------------------------------------------------
---------------------------------------------------------
RSGA-3 184 212 28 20.2
---------------------------------------------------------
212 248 36 15.4
---------------------------------------------------------
---------------------------------------------------------
RSGA-4 254 338 84 35.3
---------------------------------------------------------
including 254 278 24 52.4
---------------------------------------------------------
292 304 12 35.1
---------------------------------------------------------
324 338 14 39.7
---------------------------------------------------------
---------------------------------------------------------
RSGA-5 144 206 62 42.0
---------------------------------------------------------
including 144 164 22 62.2
---------------------------------------------------------
168 192 24 41.3
---------------------------------------------------------
---------------------------------------------------------
206 254 48 23.5
---------------------------------------------------------
including 238 254 16 41.6
---------------------------------------------------------
(i)Intervals are not reported as true widths. More drill
information will be required before a true width can be estimated.
Assays were completed by Asesoria Minera Geoanalitica Ltda.'s lab located in La Serena, Chile. Samples were sampled and processed for Fe determination using standard wet chemical methodology followed by atomic absorption finish. Currently laboratory work is in progress to test samples for trace element impurities and to determine magnetic iron content.
On completion of the laboratory test work, Anaconda plans to begin a second phase program including a detailed ground magnetic survey to better define known magnetic anomalies which were previously located by airborne magnetic surveys. Additional drilling, including reverse circulation and core holes, will be designed to test all of the magnetic anomalies including the main zone which is known to strike for 1,000 m and remains open at depth below 300 m.
John Cook, P.Eng., a designated Qualified Person as defined by NI 43-101 of the Canadian Securities Administrators, is responsible for reviewing the contents of this news release.
Anaconda Mining is an emerging gold producer with a portfolio of advanced stage exploration and development projects in Canada and Chile.
Certain statements contained herein constitute "forward-looking statements". These forward looking statements are based on current expectations. The nature, timing and extent of the exploration programs may materially change from current intentions for a number of reasons. Additionally, "forward looking statements" look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements, including statements regarding the Company's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations as more information regarding the property is gathered or if known and unknown risks or uncertainties affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
mailto:llawrick@anacondamining.com mailto:ntintor@anacondamining.com http://www.anacondamining.com
Copyright 2007 Market Wire, All rights reserved.gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
Aktuelle Marktkapitalisierung ca. 35 Mio. Euro und das für einen Explorer, der demnächst zum Produzenten wird und der untenstehende Projekte in Kanada und in Südamerika avisiert hat und der mit Penôles, einen gewichtigen Partner im Carmen-Kupfer-Gold Projekt gewonnen hat!
Aktienzahl aktuell 55 Millionen Stück
Eine Aufstellung der Projekte und der Resourcen (geschätzt) eines Boardmitgliedes:
#5257 von Magicdax 29.10.06 18:37:41 Beitrag Nr.: 24.989.156
Hallo Anacondaaktionäre und potentielle Neuinvestoren,
ich hab mir gerade mal die Mühe gemacht alle Projekte nochmal für mich zusammenzufassen. Schaut euch mal bitte die Aufstellung an und ergänzt bzw. bessert aus. Evt. haben sich Fehler durch eine falsche Übersetzung der Zahlen von der Homepage bzw. Rechenfehler bei den Vorkommen eingeschlichen. Nichtsdestotrotz ist die Bezeichnung Witz für die aktuelle Bewertung meiner Ansicht nach sogar noch eine Untertreibung.
Zu den Rohstoffvorkommen:
1. Carmen Projekt 650.000 Unzen Gold, 165.000 Tonnen Kupfer, konservative Schätzung
2. Vicuna Projekt ???
3. Restauradora Projekt 500.000 Tonnen Kupfer, 1.2 Mio Unzen Gold, konservative Schätzung bei lediglich 50 Mio Tonnen Explorationspotential
4. Damoti Lake Projekt 22.000 Unzen Gold (auf der Homepage ist von 233.000 Unzen die Rede)
5. Pine Cove 217.000 Unzen Gold
6. Carlin Gold Projekt ???
7. Bothwick Lake 43.000 Unzen Gold, 1Mio Unzen Silber
8. Lingman Lake Gold Projekt 297.000 Unzen Gold
gesamt 2.640.000 Unzen Gold / 1.000.000 Unzen Silber / 665.000 Tonnen Kupfer Wert bei 600 USD pro Unze Gold = 1.584.000.000 USD
Wert bei 7000 USD pro Tonne Kupfer = 4.655.000.000 USD
Wert bei 12 USD pro Unze Silber = 12.000.000 USD
gesamt 6.251.000.000 USD ca. 6.2 Mrd. USD
Dies bei konservativen Schätzungen der jeweiligen Projekte. Zusätzliche Ressourcen in unbekanner Höhe aus den Projekten Vicuna und Carlin Gold.
Dazu die Bewertung von Anaconda von dzt. 44 Mio. CAD Lächerlich!!!
Wenns geht mich nicht gleich als Ketzer und Anacondapusher auf den Scheiterhaufen bringen. Wie gesagt die Zahlen hab ich nach bestem Wissen und Gewissen übernommen und hochgerechnet. Berichtigungen sind willkommen!!!
Gruss
Magicdax
Zu erwartende Gewinne bei einer Produktion von 40.958 Unzen:
Goldpreis:··········Gewinn:
$ 500,- ················$ 8,5 Mio.
$ 625,- ················$ 14,3 Mio.
$ 800,- ················$ 21,5 Mio.
$ 1.000,- ·············$ 29,6 Mio.gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
Anaconda Mining drills 42 m of 65.2% Fe at San Gabriel
Anaconda Mining Inc (C:ANX)
Shares Issued 57,347,578
Last Close 4/14/2008 $1.13
Tuesday April 15 2008 - News Release
Mr. Lew Lawrick reports
ANACONDA INTERSECTS ADDITIONAL HIGH GRADE IRON MINERALIZATION AT SAN GABRIEL
Anaconda Mining Inc. has released additional results from its phase II drill program at the San Gabriel iron project, located in northern Chile, near the coastal deep-water port of Chanaral. Two new holes (RSGA-22 and RSGA-27) intercepted a very high-grade core zone in the main San Gabriel zone. Highlights from these holes include:
65.2 per cent total iron (per cent Fe) over 42 metres within a broader interval grading 45.2 per cent Fe over 104 metres in hole RSGA-22;
60.9 per cent Fe over 32 metres (including 65.6 per cent Fe over eight metres) within a broader interval grading 37.3 per cent Fe over 176 metres in hole RSGA-27.
Within the higher-grade interval in hole RSGA-22, five individual two-metre intervals returned grades of greater than 70 per cent Fe, with a maximum of 71.7 per cent Fe. These iron grades are very close to the composition of pure magnetite. A summary of new assay results is presented in the table, "Summary of new drill results."
Holes RSGA-22 and RSGA-27 were drilled along the same section as hole RSGA-05, the final hole of the phase 1 program (see Anaconda news in Stockwatch dated Oct. 25, 2007, and drill plan). A high-grade interval of 62.2 per cent Fe over 20 metres was previously reported for hole RSGA-05; however, the highest-grade portion of this zone averages 68.3 per cent Fe over 16 metres. Approximately 130 metres to the southwest, hole RSGA-04 intersected a high-grade interval of 52.4 per cent Fe over 24 metres, within which a higher-grade interval averages 65.6 per cent Fe over eight metres. Together, the results from these four holes have begun to outline a very high-grade core zone in the southwestern part of the San Gabriel zone which is open to the east and to depth.
Hole RSGA-25 was drilled in the northeast part of the main San Gabriel zone and intersected near-surface mineralization, with 23 per cent Fe over 72 metres, starting at 16 metres downhole. The results from hole RSGA-25 demonstrate that mineralization in the San Gabriel zone comes much closer to surface than previously recognized.
Trenching has commenced on the near-surface Esperanza zone and to date a single 134-metre-long trench has been sampled. Trench TEZA-01 returned 31.5 per cent Fe over 62 metres, including 55.1 per cent Fe over 10 metres and 39.8 per cent Fe over 10 metres. This trench lies along the surface trace of hole REZA-01, which graded 22.7 per cent Fe over 204 metres, including two high-grade zones grading 52 per cent Fe over 22 metres and 50.8 per cent Fe over 12 metres (see Anaconda news in Stockwatch dated March 11, 2008, and the table, "Summary of previously released drill results").
Lewis Lawrick, president and chief executive officer of Anaconda, comments: "We are excited that drilling at San Gabriel continues to delineate zones of high-grade iron mineralization. These latest results also provide evidence of a near-surface mineralization in the San Gabriel zone and good at-surface trench results from Esperanza."
SUMMARY OF NEW DRILL RESULTS
Hole(1) From To Interval Grade
(m) (m) (m)(2) (%Fe)(3)
San Gabriel (Main) zone
DSGA-15 276 290 14 14.3
RSGA-18 90 286 196 22.1
incl. 134 158 24 32.9
RSGA-19 222 240 18 20.1
RSGA-20 152 362 210 21.2
incl. 196 238 42 37.9
RSGA-21 116 310 194 22.5
incl. 116 148 32 35.2
RSGA-22 152 256 104 45.2
incl. 152 194 42 65.2
342 416 74 25.3
incl. 394 416 22 34.2
RSGA-23 196 210 14 16.0
RSGA-25 14 104 90 17.5
incl. 16 88 72 23.0
RSGA-26 164 196 32 27.2
incl. 166 182 16 29.2
RSGA-27 178 354 176 37.3
incl. 180 212 32 60.9
204 212 8 65.6
264 330 66 43.1
Esperanza zone
DEZA-02 176 200 24 17.1
244 353.8 109.8 18.5
incl. 326 348 22 29.1
REZA-03 NSV(4)
DEZA-04 138 248 110 16.1
150 154 4 24.7
170 178 8 24.0
Antonia zone
RANTA-01 134 176 52 14.9
incl. 154 160 6 22.9
RANTA-02 16 76 60 22.2
incl. 58 70 12 36.2
RANTA-03 42 82 40 30.0
incl. 52 70 18 35.3
(1) The prefix "R" in the hole number denotes reverse-circulation holes and
the prefix "D" denotes diamond drill holes.
(2) Intervals are drill indicated, not true widths. Additional drill
information will be required before true widths can be estimated.
(3) Iron grades represent total iron.
(4) NSV equals no significant values.
Phase II program
The phase II drill program is now complete, with a total of 13,278.95 metres drilled in 38 holes. A summary of phase 1 and 2 drilling by the company is presented in the table, "Summary of phase 1 and 2 drill programs." Significant results for holes in the current release are summarized in the table, "Summary of new drill results," and previously released results are summarized in the table, "Summary of previously released drill results." Assay results for all five holes from phase I and 28 holes from phase II have now been released; assays for the final 10 holes are expected to be received by the company within the next several weeks.
SUMMARY OF PHASE 1 AND 2 DRILL PROGRAMS
Phase 1 (August to September, 2007)
Zone RC holes Metres RC DD holes Metres DD
San Gabriel 5 1,752 - -
Phase 2 (January to March, 2008)
Zone RC holes Metres RC DD holes Metres DD
San Gabriel 22 8,480 3 1,493.10
Esperanza 3 816 2 697.85
Antonia 8 1,792 - -
Total phase 1 and 2 38 12,840 5 2,190.95
San Gabriel zone
The main mineralized zone at San Gabriel has been interpreted as a northwest-trending, subhorizontal lens overlying high-grade subvertical feeder structures. Previously the upper contact of the main lens was intersected at approximately 70 metres from surface in the northwest end of the zone, dipping shallowly to the southeast. However, drill results from hole RSGA-25 indicates a portion of the San Gabriel zone lies within 15 metres of surface. Drilling has revealed a minimum strike length of 750 metres along the main northwest trend and the zone remains open to the northeast to southeast, as well as to depth in the high-grade core zone intercepted in holes RSGA-04, RSGA-05, RSGA-22 and RSGA-27.
Esperanza zone
The outcropping Esperanza zone is located 1.5 kilometres along strike from the San Gabriel zone. High-grade mineralization has been encountered in trench TEZA-01 and below the trench in hole REZA-01. Results have been received for four of five holes drilled in this zone, which is open along strike to the northwest and to depth.
Antonia zone
The Antonia zone is located two kilometres northeast of the San Gabriel zone, and appears to lie along subparallel structures to that hosting the San Gabriel and Esperanza zones. A total of eight holes have been drilled along two subparallel trends at this target. Results have now been received for three of the eight holes, with up to 30 per cent Fe over 40 metres, including 35.3 per cent Fe over 18 metres in hole RANTA-03. This zone is open to depth.
Property overview
The 5,100-hectare project lies 60 kilometres northeast of the Pacific coastal city of Chanaral, with significant deep-sea port infrastructure for iron ore exports. The project is located within 15 kilometres of a transmission line, 20 kilometres of a rail line and 25 kilometres from a main highway.
Anaconda has the right to earn a 100-per-cent interest in San Gabriel by making payments totalling $2.4-million (U.S.) over four years, including a $20,000 (U.S.) payment on signing (see Anaconda news in Stockwatch dated Sept. 20, 2007, for additional information regarding the San Gabriel option agreement).
San Gabriel was discovered by Rio Tinto in 1997, during a reconnaissance exploration program that consisted of aeromagnetics and scout drilling, the objective of which was the discovery of iron-oxide copper gold (IOCG) deposits. Rio Tinto completed 11 RC drill holes, which targeted magnetic anomalies. The property was subsequently returned to the vendors.
Mineralization is iron-magnetite skarn associated with dioritic intrusives of Jurassic to lower Cretaceous age which intruded andesitic volcanic sequences. Skarn-related iron mineralization is characteristic of the Chile-Peru coastal region and forms deposits ranging from a few million tons to billion-ton orebodies such as Marcona in Peru.
Preliminary metallurgical testwork, as reported in an Anaconda news in Stockwatch of Jan. 21, 2008, demonstrates that San Gabriel contains high-quality magnetite-bearing material. Analyses of magnetic concentrates returned very low levels of impurities, or penalty elements (specifically silica, phosphorous, sulphur and copper), and mineralization is thus potentially amenable to beneficiation into a high-quality concentrate. Diamond drill core from the phase II program and surface mineralization exposed in trenches in the Esperanza zone will provide additional material for continuing metallurgical studies.
As a result of the region's proximity to coastal shipping access to the Asia Pacific region, a number of iron ore deposits in Chile and Peru are being evaluated for start up or have resumed production.
SUMMARY OF PREVIOUSLY RELEASED DRILL RESULTS
Hole(1) From To Interval Grade
(m) (m) (m)(2) (%Fe)(3)
San Gabriel zone
(Main zone)
RSGA-1 190 320 130 15.4
320 408 (eoh)(4) 88 30.7
incl. 330 382 52 33.9
RSGA-2 216 232 16 12.2
296 304 8 12.9
RSGA-3 184 212 28 20.2
212 248 36 15.4
RSGA-4 254 350 (eoh)(4) 96 33.6
incl. 254 278 24 52.4
incl. 254 262 8 65.6
324 338 14 39.7
RSGA-5 144 206 62 42.4
incl. 144 164 20 62.2
incl. 148 164 16 68.3
168 192 24 41.3
206 254 48 23.5
incl. 238 254 16 41.6
RSGA-6 144 182 38 40.5
202 214 12 37.0
224 270 46 19.5
DSGA-7 146 180 34 14.7
204 234 30 18.5
248 276 28 19.8
364 420 56 15.4
RSGA-8 122 278 156 24.9
incl. 122 144 22 33.2
194 238 44 30.3
RSGA-9 190 246 56 17.9
incl. 196 216 20 20.1
RSGA-10 184 228 44 16.8
incl. 206 212 6 23.8
DSGA-11 200 484 284 21.0
incl. 340 484 144 26.7
348 390 42 32.3
402 448 46 33.4
RSGA-12 84 252 168 21.9
incl. 196 222 26 31.0
RSGA-13 238 396 158 25.6
incl. 270 304 34 37.8
RSGA-14 0 348 Low Grade
RSGA-16 134 460 326 28.0
incl. 136 170 34 48.4
298 332 34 46.0
RSGA-17 76 384 308 24.0
incl. 84 162 78 40.2
84 134 50 48.6
Esperanza zone
REZA-1 14 218 204 22.7
incl. 14 66 52 42.2
16 38 22 52.0
44 56 12 50.8
(1) The prefix "R" in the hole number denotes reverse-circulation holes and
the prefix "D" denotes diamond drill holes.
(2) Intervals are drill indicated, not true widths. Additional drill
information will be required before true widths can be estimated.
(3) Iron grades represent total iron.
(4) Eoh equals end of hole.
Assays were completed by Asesoria Minera Geoanalitica Ltda.'s lab located in La Serena, Chile. Asesoria is ISO 9001:2000 accredited and is independent of Anaconda. Drill core, chips and trench channel samples were sampled and processed for Fe determination using standard wet chemical methodology, followed by atomic absorption finish.
Fiona Childe, PhD, PGeo, who is a qualified person within the meaning of National Instrument 43-101 of the Canadian securities administrators, is responsible for reviewing the contents of this news release.
Anaconda Announces Option Agreement to Sell the Damoti Lake Gold Project
TORONTO, ONTARIO--(Marketwire - Aug. 5, 2008) - Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) announces it has entered into an option agreement to sell its interest in the Damoti Lake gold project ("Damoti" or the "Project") to Merc International Minerals Inc. ("Merc") (TSX VENTURE:MRK).
Terms of the option agreement provide for a cash payment to Anaconda of $250,000 and the issuance of 1,250,000 common shares ("shares") of Merc. Anaconda is subject to a four month hold on trading of these shares. The option agreement is scheduled to close on or before August 31, 2008 and is subject to the approval of the TSX and TSX Venture Exchanges.
Lewis Lawrick, President and CEO commented: "We are pleased with the transaction that has been announced today, which allows Merc to aggressively advance this high-grade gold project. Our equity interest allows us continued exposure to Damoti, as Merc looks towards development of a potential high-grade mining operation."
Damoti is located 200 km north of Yellowknife, Northwest Territories and extends over 2,849 hectares of land in six mining leases. An independent, National Instrument 43-101 compliant resource estimate was completed in September 2005. Using a cut-off grade of 8 grams gold per tonne, the measured and indicated mineral resource estimate for the Horseshoe deposit totaled 40,600 tonnes grading 26.17 grams of gold per tonne, with a further inferred mineral resource estimate of 17,800 tonnes grading 16.38 grams of gold per tonne. Additional information with respect to Damoti is contained in a technical report dated December 15, 2005, filed on SEDAR and entitled "Technical Report and Resource Estimate on the Damoti Lake Property, Northwest Territories, Canada". This report was prepared by Mr. Eugene Puritch, P.Eng., of P&E Mining Consultants Inc. Mr. Puritch and P&E Mining Consultants Inc. are independent of both Anaconda and Merc.
Cash proceeds will be used to advance the San Gabriel Iron Project and for general working capital purposes.
John Cook, P.Eng., a Director of the Company and designated Qualified Person as defined by National Instrument 43-101, is responsible for reviewing the contents of this news release.
About Anaconda
Anaconda is a Toronto, Canada-based mining company with a portfolio of advanced-stage exploration projects in Canada and South America. The diversified portfolio is supported by near-term cash flow from the Pine Cove gold mine.
The Company is rapidly advancing the San Gabriel Iron Project ("San Gabriel") in Chile, where it has identified several zones of magnetite-iron mineralization. San Gabriel is advantageously located close to road, rail, power and deep-sea port facilities. The Company plans to continue to aggressively explore San Gabriel to evaluate its potential to host economic concentrations of iron mineralization. The Company is actively pursuing new opportunities to complement this exciting project.
About Merc International Minerals Inc.gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX: ANX), is pleased to announce results for a further ten diamond drill holes from the Inca de Oro Sur Joint Venture ("Inca de Oro Sur" or the "Project"). Inca de Oro Sur is located within the historic Inca de Oro mining district in northern Chile, approximately 100 kilometres north of Copiapo.
Exploration Program Overview
A diamond drill program wholly funded and operated by the Company's joint venture partner, Minera Penoles de Chile Ltda. ("Penoles") commenced at Inca de Oro Sur in October, 2007. This program is now complete, with a total of 12,251.68 metres ("m") drilled in 28 diamond drill holes. Copper and gold results for the first 18 holes (8,757 m) were released by the Company on August 6, 2008. Copper and gold results of the remaining ten holes (3,494.50 m) as well as molybdenum results are presented in the current release (see Table 1, attached map and Anaconda news release dated August 6, 2008). Nine of ten new holes continued to test the central and southwest parts of the Carmen target, which is the main porphyry copper-gold-molybdenum ("Cu-Au-Mo") target on the property. One hole tested the Rodesia vein, located 900 m southwest of Carmen, but failed to return significant values.
Highlights from the Carmen target include:
- 46.55 m grading 1.68 g/t Au; 0.43% Cu and 657 ppm Mo in hole BDP-24,
- 38.91 m grading 0.82 g/t Au; 0.32% Cu and 299 ppm Mo in hole BDP-28,
- 52.36 m grading 0.50 g/t Au and 0.43% Cu in hole BDP-20, and
- 63.25 m grading 0.42 g/t Au and 0.32% Cu in hole BDP-26.
Results from hole BDP-24 in the central part of the Carmen target continue to outline a zone of very high-grade mineralization, where, as announced by Anaconda on August 6, 2008, holes BDP-01 and -02 cut 257 m of 1.10 g/t Au and 0.45% Cu and 290m of 0.67 g/t Au and 0.37% Cu, respectively.
The principal intersections of Mo are:
- 143 m (from 163 m to 306 m) with 831 ppm of Mo in hole BDP-23
- 200 m (from 170 m to 370 m) with 595 ppm of Mo in hole BDP-24
- 127 m (from 174 m to 301 m) with 150 ppm of Mo in hole BDP-26
Lewis Lawrick, President and CEO of Anaconda, comments: "We are very pleased to see the continued high grades returned from Carmen, in particular, the recognition of strong Mo credits which could positively impact the economics of the Project. We look forward to Penoles completing their deposit model and beginning a mineral resource estimate for Inca de Oro Sur, based on the results of current program."
Mineralization at the Carmen target consists of a central zone with quartz, bornite, chalcopyrite and magnetite in veinlets and disseminations; the grade varies from 0.3 to 1.0% Cu and 0.5 to 2.0 g/t Au. Surrounding the central zone is a zone of quartz, chalcopyrite and calcite, with lesser bornite and quartz veining stockwork, where the grade varies from 0.1 to 0.5% Cu and 0.1 to 0.5 g/t Au. Sulphides underlie a shallow oxidized zone hosted within andesite and tonalite porphyry. Alteration is characteristic of a porphyry Cu-Au system consisting of a central biotite and K-feldspar potassic assemblage with weak and local intermediate argillic alteration overprint and an external halo of chlorite-epidote-propyllitic alteration.
Quality Assurance/Quality Control and Qualified Person
The drill holes reported in this release were collared using HQWL (2.5" sized core). Core is logged by Penoles staff and then split using a diamond saw; the average sample length is 1.6 m. Half the core is stored in a secure core shed and the other half is sampled, bagged, and secured, then transported by road to ALS Laboratory Group ("ALS") in La Serena, Chile for analysis. ALS is an ISO 9001:2000 accredited laboratory and is independent of both Anaconda and Penoles. Drill core was prepared and processed for multi-element (ME-ICP-41) and gold fire assay (Au-AA24). All drilling, sampling and drill core logging within the current program was conducted by Penoles staff, under the supervision of Mr. Armando Zaragoza, Exploration Manager for Minera Penoles de Chile Limitada.
John Cook, P.Eng., a Director of Anaconda and a Qualified Person within the meaning of National Instrument 43-101 "NI 43-101" of the Canadian Securities Administrators, is responsible for reviewing the contents of this news release, including the drill results presented herein.
Past work by previous operators includes the drilling of 14,784.3 metres in 56 drill holes. Additional information with respect to Inca de Oro Sur is contained in a technical report dated March 28, 2006, filed on SEDAR and entitled "Carmen Copper-Gold Project, Region III, Chile". This report was prepared by Michael Easdon, P.Geo., a Consulting Geologist who is a Qualified Person within the meaning of NI 43-101 and independent of both Anaconda and Penoles.
Inca de Oro Sur Joint Venture
Under the terms of an agreement signed in September, 2007, Penoles has the right to earn a 65% interest in the Project from Anaconda and Inversiones EM-DOS Ltda. ("EM-DOS") by making exploration expenditures totaling US$10 million and cash payments to Anaconda and EM-DOS of US$12 million over four years. This includes an initial cash payment of US$2.05 million to Anaconda in 2007 and a first year minimum US$3 million exploration program. A total of US$4.239 million has been spent on exploration by Penoles to September 23, 2008.
About Anaconda
Anaconda is a Toronto, Canada-based mining company with a portfolio of advanced-stage exploration projects in Canada and Chile. The Company's Pine Cove gold mine in Newfoundland and Labrador achieved its first gold pour in July, 2008. Mill commissioning is currently underway at Pine Cove in anticipation of Commercial Production.
The Company is presently focused on the San Gabriel Iron Project ("San Gabriel") in Chile. In August, 2008 the Company announced an initial mineral resource estimate at San Gabriel of 57.9Mt grading 32% iron in the indicated category and a further 2.6Mt grading 29% iron in the inferred category, using a cutoff grade of 20% iron. The Company has filed on SEDAR a Technical Report entitled "San Gabriel Iron Project, Chile" by Michael Easdon, P.Geo. in support of the mineral resource estimate. San Gabriel is advantageously located close to road, rail, power and deep-sea port facilities. The Company plans to continue to aggressively explore San Gabriel to evaluate its potential to host economic concentrations of iron mineralization. The Company is actively pursuing new opportunities to compliment its existing portfolio.
Certain statements contained herein constitute "forward-looking statements". These forward- looking statements are based on current expectations. The nature, timing and extent of the exploration programs may materially change from current intentions for a number of reasons. Additionally, forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements, including statements regarding the Company's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations as more information regarding the property is gathered or if known and unknown risks or uncertainties affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
mailto:llawrick@anacondamining.com mailto:belinda@thecapitallab.com http://www.anacondamining.com
Copyright 2008 Market Wire, All rights reserved.gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
