Name of the Project
Goldboro gold project.

Location
Nova Scotia, Canada.

Client
Anaconda Mining.

Project Description
Goldboro is an advanced exploration and development project.

A preliminary economic assessment completed on the project in January 2018 envisages an openpit and underground mining operation, on-site concentration through gravity and flotation circuits and leaching of the concentrate and gold recovery at Anaconda’s Pine Cove mill, in Newfoundland.

The operation is expected to have an 8.8-year mine life, with 2.4-million tonnes of potential mill feed at an average grade of 5.13 g/t of gold and a recovery rate of 93.6%, resulting in gold production of 375 900 oz.

Mining is expected to be conducted at 600 t/d of mineralised material at an average openpit grade of 2.99 g/t and an underground grade of 6.83 g/t.

Processing will be conducted at 600 t/d to 800 t/d of run-of-mine high-grade material and rehandle of 200 t/d of stockpiled openpit lower-grade material.

Average gold production is estimated at 41 770 oz/y.

Potential Job Creation
There is potential for up to 200 jobs to be created at the peak of production.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 7% discount rate, of $120-million and an internal rate of return of 38%, with a payback 2.9 years.

Value
Preproduction capital is estimated at $47-million.

Duration
Not stated.

Latest Developments
Anaconda announced in November 2018 the initial drill results from a 10 000 m drill programme that began in July 2018.

Six drill holes successfully targeted a previously untested deeper area of the Boston Richardson (BR) gold system over 350 m of strike and to depths of 525 m. Drilling expanded two mineralised zones an additional 200 m along strike and expanded five other zones over 350 m along strike.

Anaconda observed 19 occurrences of visible gold in the six drill holes and the character of the mineralisation in those holes was consistent with results seen throughout the BR gold system to date. The BR gold system remains open for further expansion at depth and down plunge.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Anaconda Mining, tel +1 416304 6622, fax +416363 4567 or email info@anacondamining.com.