TORONTO, Sept. 17, 2019 /CNW/ - Anaconda Mining Inc.
("Anaconda" or the "Company") (TSX: ANX) (OTCQX: ANXGF) is pleased
to announce that it intends to file a new Environmental Assessment
Registration Document ("EARD") for the Goldboro Gold Project
("Goldboro") during the fourth quarter of 2019. On September 16, 2019, the Company submitted a
request to the Nova Scotia
Minister of Environment to withdraw the original EARD for the
Goldboro Gold Project, which had originally been filed with the
Nova Scotia Department of Environment on August 1, 2018.
"Over the past year Anaconda Mining has been progressively
working with environmental and engineering consultants to optimize
the design for the Goldboro Gold Project. This work has included
substantial environmental impact assessment studies, with the goal
of designing a project that minimizes the surface footprint and
overall environmental impact of the operation, while achieving
robust project economics. The work completed to date has resulted
in material changes and improvements from the original concept
outlined in the initial EARD, including a modified project layout
and a reduction in mining at surface. The new EARD will also
contemplate a full processing facility at Goldboro which will produce gold
doré bars, reflecting the growing mineral resource and
the potential for a longer-life mining operation. As a result of
these material changes, we have accepted the recommendation of the
Nova Scotia Department of Environment to withdraw the original 2018
EARD and will be submitting a new EARD before the end of the 2019
calendar year. We continue to move forward with an updated mineral
resource and a Feasibility Study, both expected to be announced in
the fourth quarter of 2019."
~Kevin Bullock, CEO, Anaconda Mining Inc.
Prior to submission of a new EARD Anaconda will be initiating
further engagement activities with community stakeholders and
rightsholders regarding the new proposed project. Anaconda
continues to maintain active local community engagement and ongoing
consultations with Mi'kmaq First Nations as the Company continues
to progress Goldboro towards a
development decision. The Company recently signed Memorandum of
Understanding with the Nova Scotia Council of Mi'kmaq Chiefs
regarding the development of a Mutual Benefits Agreement, which
includes provisions for engagement on environmental matters.
Anaconda also maintains consistent communication with the Community
Liaison Committee and the Municipality of the District of
Guysborough.
A version of this press release will be available in French
on Anaconda's website (www.anacondamining.com) in two to three
business days.
ABOUT ANACONDA
Anaconda is a TSX and OTCQX-listed gold mining, development, and
exploration company, focused in Atlantic
Canada. The company operates mining and milling operations
in the prolific Baie Verte Mining District of Newfoundland which includes the
fully-permitted Pine Cove Mill, tailings facility and deep-water
port, as well as ~11,000 hectares of highly prospective mineral
lands including those adjacent to the past producing, high-grade
Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also
developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the
subject of an on-going feasibility study.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information"
within the meaning of applicable Canadian and United States securities legislation.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects", or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "does not anticipate", or
"believes" or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would",
"might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates
of management at the date the information is made, and is based on
a number of assumptions and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Anaconda to be
materially different from those expressed or implied by such
forward-looking information, including risks associated with the
exploration, development and mining such as economic factors as
they effect exploration, future commodity prices, changes in
foreign exchange and interest rates, actual results of current
production, development and exploration activities, government
regulation, political or economic developments, environmental
risks, permitting timelines, capital expenditures, operating or
technical difficulties in connection with development activities,
employee relations, the speculative nature of gold exploration and
development, including the risks of diminishing quantities of
grades of resources, contests over title to properties, and changes
in project parameters as plans continue to be refined as well as
those risk factors discussed in Anaconda's annual information form
for the year ended December 31, 2018,
available on www.sedar.com. Although Anaconda has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. Anaconda does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE Anaconda Mining Inc.