Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Anaconda Mining (TSX: ANX) announced on Wednesday results from 18 diamond drill holes in the East Goldbrook gold system at the Goldboro gold project in Nova Scotia. Highlights include: 27.12 g/t Au over 2.5 m, 16.65 g/t Au over 2.0 m, 50.60 g/t Au over 1.0 m and 102.43 g/t Au over 0.7 m.
The 4,391 metres of diamond drilling were part of a recently completed 5,734-metre drill program designed to infill portions of the EG gold system to upgrade resource categorization and to extend the system.
The Goldboro project is an advanced exploration and development project located on tidewater approximately 185 km northeast of Halifax, within Nova Scotia’s Eastern Goldfields District.
Anaconda acquired Goldboro in early 2017 as part of a merger with Orex Exploration Inc. A feasibility study on the project was initiated earlier this year, which Anaconda expects to finish by the end of 2019.
Shares of Anaconda Mining rose by nearly 4% on Wednesday. The company has a market capitalization of C$35.5 million.
Comments
Jan
They also have their Third Quarter released, which is interesting, to say the least, because at least they are finding actual ounces of gold. 8,8 M$ no less.
https://www.anacondamining.com/2019-10-10-Anaconda-Mining-Announces-Q3-Production-Results-Generates-8-8M-in-Revenue-from-the-Sale-of-4-652-Ounces-of-Gold
Mill throughput was 1,282 tonnes per day in Q3 2019, demonstrating continued improvement over both the first and second quarter of 2019, with the mill achieving over 1,300 tonnes per day in September.
Mining operations produced 134,347 tonnes of ore during the third quarter, a 72% increase over Q2 2019, when mining was focused at the Stog’er Tight Mine and development at the Pine Cove Pit.
The Company ended the third quarter with stockpile of over 39,100 tonnes of ore at an estimated average grade of 1.45 grams per tonne (“g/t”)