ANACONDA MINING INC. SAFETY. INTEGRITY. RELIABILITY
Welcome to the Point Rousse Project in Newfoundland, Canada.
Anaconda’s Point Rousse Project lies within the Baie Verte Mining District on the northeastern coast of the island portion of the province of Newfoundland and Labrador, near the communities of Baie Verte and Ming’s Bight. It includes more than 6,300 hectares of mineral exploration licenses and mining leases covering three prospective gold trends – the Scrape Trend, the Goldenville Trend and the Deer Cove Trend. These trends have approximately 20 km of cumulative strike length and include two gold deposits and numerous prospects and showings. All are located within 8 km of the Pine Cove mine and mill, which has been in commercial production since 2010. Pine Cove produces approximately 15,000 ounces of gold per year from a year round operation. The mine is connected to the provincial highway system via a 5 km gravel road maintained by the Company.
Anaconda established itself in Newfoundland in 2003 when it optioned a 60% interest in two mining leases from New Island Resources Inc. (“New Island”) covering approximately 660 hectares (the “Original Pine Cove Mine”). The Company acquired the remaining 40% from New Island in 2011. Anaconda began to expand the Point Rousse Project in 2012 and by 2015, through a combination of staking and seven option agreements, controlled most of the highly prospective Point Rousse Complex on the Ming’s Bight Peninsula. The Point Rousse Project consists of 28 contiguous mineral exploration licenses and 5 mining leases. Seven of the licences were acquired through staking and are 100%-owned by Anaconda. The terms of the options agreements include a 100%-earn-in interest, certain cash payments over a period of 3-5 years and a resultant NSR if gold sales revenue is generated from the corresponding property. The NSRs range from 1-3% and some of the agreements are capped or have partial buy-out clauses. The obligation to pay a 3% NSR on the Original Pine Cove Mine was fulfilled in March of 2015. All leases and licences are in good standing with the optionors and the Government of Newfoundland and Labrador.
Feb 10, 2016
Anaconda acquires another gold deposit and project; Expands its reach in Newfoundland
Jan 25, 2016
Anaconda Mining drills 2.68 g/t Au over 15.9 metres and 2.11 g/t Au over 10.5 metres; Expands the Pine Cove deposit
Jan 21, 2016
Anaconda Mining reports 1.89 g/t gold over 10 metres and extends the Argyle prospect at surface
Jan 14, 2016
Anaconda Mining begins drill-testing the potential extensions of the Stog'er Tight deposit