|By Marketwired .||
|March 3, 2014 07:01 AM EST||
TORONTO, ONTARIO -- (Marketwired) -- 03/03/14 -- Anaconda Mining Inc. ("Anaconda" or "the Company") - (TSX: ANX) is pleased to report that condemnation diamond-drilling north of its Pine Cove mine has intersected the possible down-dip extension of the Pine Cove deposit. PC-14-224, a vertical diamond-drill hole, located approximately 180 meters north of the ultimate open pit, intersected 5.75 grams per tonne ("g/t") gold over a core length of 1.97 meters.
The recently completed 600-meter, 4-hole, condemnation diamond-drill program targeted areas north and northwest of the mine as part of a possible waste dump expansion. The holes northwest of the mine were not expected to contain mineralization. However, PC-14-224, which was north of the mine, was drilled to a depth of 300 meters to simultaneously test for condemnation purposes and for the possible down-dip extension. It was collared approximately 95 meters northwest of PC-11-181, which assayed 2.50 g/t gold over a core length of 40.8 meters (Anaconda Press Release, July 27, 2011), and intersected several intervals of Pine Cove style alteration and mineralization (Table 1). The best interval assayed 3.06 g/t gold over 5.54 meters (including 5.75 g/t gold over 1.97 meters) beginning at a vertical depth of approximately 207 meters. This mineralization occurs at the same vertical depth as that intersected in PC-11-181 (an angled hole drilled to the south, away from PC-14-224); however, PC-14-224 cut the mineralized zone almost 150 meters northwest of PC-11-181.
---------------------------------------------------------------------------- Hole_ID From (m) To (m) Width (m) Au g/t ---------------------------------------------------------------------------- PC-14-224 137.26 138.32 1.06 1.15 ---------------------------------------------------------------------------- PC-14-224 207.37 212.91 5.54 3.06 ---------------------------------------------------------------------------- including 210.94 212.91 1.97 5.75 ---------------------------------------------------------------------------- PC-14-224 234.98 235.25 0.27 6.08 ---------------------------------------------------------------------------- PC-14-224 243.23 245.2 1.97 2.23 ----------------------------------------------------------------------------
PC-14-224 targeted an area, well north of previous drilling, that was thought to be underlain by the potential down-dip extension of the Pine Cove deposit. Previous historic drilling, including PC-11-181, indicated that the Pine Cove deposit did continue at depth to the north beyond the present block model. In 2013, drilling intersected wide intervals of gold mineralization of similar grade and tenor to the Pine Cove deposit in both the down-dip area, further validating the down-dip theory, and in a newly defined area referred to as the Western Extension area.
In both areas, the gold mineralization lies outside of the ultimate open-pit boundaries, so its depth may preclude its extraction by open-pit methods. However, within the broad gold-rich zones are narrower higher grade intervals that may be amenable to underground mining methods, particularly in the shallower Western Extension area. Figures 1, 2, 3 and 4 contain a plan view and three section maps of drill hole intersections in and around the Pine Cove pit that illustrate the high grade intervals and the possible trend of mineralization. Additional drilling will be required to test the possible continuity of higher grade material amenable to underground mining.
President and CEO, Dustin Angelo, stated, "The down-dip area north of the Pine Cove mine continues to demonstrate potential, most likely for an underground mine. PC-14-224 intersected significant gold mineralization well north of the current pit. There are no drill holes north of this latest hole and the mineralization that was discovered in PC-14-224 lies almost 150 meters from that which was intersected by PC-11-181. We are encouraged by the results we are seeing and there is still a wide open area north of the pit that we have to evaluate.
Regional Exploration Program Update
Anaconda is currently reviewing and compiling all historic data for both the Deer Cove and Stog'er Tight deposits. The Company plans to carry out a detailed ground magnetic survey over the Stog'er Tight area before spring breakup. Infill and definition drilling will be initiated at Deer Cove in May and subsequently at Stog'er Tight. Data from both properties will be used to complete NI 43-101 resource estimates. Geological mapping, prospecting and trenching programs are also planned for the June to November field season for Stog'er Tight North, Ming's Bight, Goldenville Horizon and the Romeo and Juliet Trend.
In January 2014, Anaconda completed 300 meters of additional diamond-drilling in two holes that targeted the possible down-plunge and eastern extensions to the newly discovered Balcony Zone of the Romeo and Juliet prospect (Anaconda Press Release, September 16, 2013). The drilling was the final phase of a drill program at Romeo and Juliet that was initiated during the summer of 2013 (Anaconda Press Release, July 8, 2013). Both holes successfully intersected the targets but did not return economically significant gold grades. All existing data is being evaluated and further work, including trenching, is anticipated later in 2014 as part of an expanded exploration program along the regional Romeo and Juliet Trend. This trend is defined by a significant northeast-southwest 1.5 km long topographic linear which is anchored by the Romeo and Juliet prospect to the south and the Pumbley Point/Fuel Bog gold showings to the north (Figure 5). Exploration will focus on this linear and, in particular, search for east-west crosscutting structures similar to that hosting the Balcony Zone.
Note: All assay intervals refer to core length and at present true thicknesses of mineralized zones are not known. The diamond drilling was carried out by New Valley Drilling of Springdale, Newfoundland and was supervised by Silvertip Exploration Consultants Inc. The NQ core was logged and sampled at the Pine Cove mine site. Samples selected for analyses were sawn and half the sample was tagged and placed in a sealed plastic bag. Samples generally comprised one meter core intervals in altered rock and half meter intervals in quartz veins. Samples were transported by Silvertip personnel to the Eastern Analytical Laboratory in Springdale, Newfoundland for fire assay. As part of the QA-QC protocol, standards and blanks were randomly inserted during the sampling process. The remaining core is stored at the Pine Cove mine.
This news release has been reviewed and approved by David Evans, P. Geo., with Silvertip Exploration Consultants Inc., a "Qualified Person" under National Instrument 43-101.
To view Figures 1 to 5 please click on the following link: http://media3.marketwire.com/docs/Figures1-5.pdf
Headquartered in Toronto, Canada, Anaconda is a growth oriented, gold mining and exploration company with a producing asset located on the Baie Verte Peninsula in Newfoundland, Canada called the Pine Cove mine.
FORWARD LOOKING STATEMENTS
This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, statements regarding targets, estimates and/or assumptions in respect of future production, mine development costs, unit costs, capital costs, timing of commencement of operations and future economic, market and other conditions, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to: the final approval of the private placement by the Toronto Stock Exchange; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of the any project caused by unavailability of equipment, labour or supplies, climatic conditions or otherwise; termination or revision of any debt financing; failure to raise additional funds required to finance the completion of a project; and other factors. 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 Anaconda's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Forward-looking statements are subject to significant risks and uncertainties 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 we assume no responsibility to update them or revise them to reflect new events or circumstances, except as required by law.
Sensors and effectors of IoT are solving problems in new ways, but small businesses have been slow to join the quantified world. They’ll need information from IoT using applications as varied as the businesses themselves. In his session at @ThingsExpo, Roger Meike, Distinguished Engineer, Director of Technology Innovation at Intuit, showed how IoT manufacturers can use open standards, public APIs and custom apps to enable the Quantified Small Business. He used a Raspberry Pi to connect sensors...
Feb. 10, 2016 07:00 PM EST Reads: 138
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
Feb. 10, 2016 04:00 PM EST Reads: 374
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Feb. 10, 2016 04:00 PM EST Reads: 153
DevOps is not just last year’s buzzword. Companies with DevOps practices are 2.5x more likely to exceed profitability, market share, and productivity goals. But how do you enable high performance? What can you do right now to start? Find out from DevOps experts including Gene Kim, co-author of "The Phoenix Project," and the Dynatrace Center of Excellence.
Feb. 10, 2016 02:54 PM EST
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 10, 2016 02:30 PM EST Reads: 421
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Feb. 10, 2016 02:30 PM EST Reads: 393
Recognizing the need to identify and validate information security professionals’ competency in securing cloud services, the two leading membership organizations focused on cloud and information security, the Cloud Security Alliance (CSA) and (ISC)^2, joined together to develop an international cloud security credential that reflects the most current and comprehensive best practices for securing and optimizing cloud computing environments.
Feb. 10, 2016 01:45 PM EST
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
Feb. 10, 2016 01:15 PM EST
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
Feb. 10, 2016 12:45 PM EST
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 10, 2016 12:15 PM EST Reads: 424
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Feb. 10, 2016 12:00 PM EST Reads: 619
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Feb. 10, 2016 11:00 AM EST Reads: 188
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
Feb. 10, 2016 11:00 AM EST Reads: 260
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Feb. 10, 2016 11:00 AM EST Reads: 209
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Feb. 10, 2016 10:45 AM EST Reads: 391