On March 3, 2017, Anaconda announced that it had entered into a definitive arrangement agreement with Orex Exploration Inc. (“Orex”) to acquire all issued and outstanding common shares of Orex. Following the completion of this arrangement, Orex will be a wholly-owned subsidiary of Anaconda.
On March 16th, 2017, Anaconda Mining hosted a conference call for investors and interested parties to discuss the acquisition of Orex Exploration, which owns the Goldboro Project in Nova Scotia (read the full news release here).
The recording of that discussion is now available:
Orex currently controls the Goldboro Gold Deposit, located on tidewater approximately 185 km northeast of Halifax, Nova Scotia. The Goldboro Deposit contains 457,400 Measured and Indicated ounces of Gold and 372,900 Inferred ounces (see Orex press release dated March 1 on Sedar). Following completion of the Arrangement, Anaconda’s resource portfolio will include three mineral projects with current NI 43-101-compliant resources, including Goldboro, Viking and Point Rousse. A summary of the 43-101 Resources of the Goldboro Project is provided below.
|Revised Goldboro Mineral Resource Statement – Effective February 28, 2017|
|Total Goldboro Deposit|
|Threshold (Au g/t)||Category||Tonnes||Au g/t||Ounces|
|Measured and Indicated||2,556,000||5.57||457,400|