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Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF)
(“Abcourt” or the “Mines Abcourt Inc.) announces that a technical report NI 43-101 entitled
Feasibility Study on the Sleeping Giant Project was prepared by PRB Mining Services Inc. of Val-
d’Or, Quebec, Canada.
Here is a summary of this technical report(1):
General and History
The Sleeping Giant mine is located 80 km north of Amos in north-western Quebec, Canada. It is
accessible via road 109 that connects Amos to Matagami. This is a paved road and it passes less
than 1 km from the mine site. Material and services are available at competitive prices.
The mine was exploited from 1988 to 2014. It has been maintained dry since its temporary closing
in 2014 and no infrastructure has been taken out or added. Currently, the Sleeping Giant mill treats
ore from the Elder mine owned by Abcourt Mines Inc. and occasionally, some custom ore. The mill
capacity is 700 to 750 tonnes per day. The activated carbon process is used to recover gold.
Historically, the gold recovery on the Sleeping Giant ore, at that mill is 97.5%.
The tailings pond complies with all governmental regulations and the dykes and the quality of water
are checked every year by an external expert. The tailings pond has enough capacity to receive
the tailings from Elder and those from the Sleeping Giant mine as indicated in section 16 of the
technical report. The setting pond at the discharge of the tailings pond is used to treat the
discharged water according to the rules and to control the quality of the water.
Geology and Mineralization
The Sleeping Giant property is located in the central part of the north volcanic zone affected by
major E-W and NW-SE corridors of deformation. The geological units in the mine area consist of
basalt, andesite and volcano-sedimentary rocks. Mineralization is in disseminated sulfides, in
veinlets or in small massive bands parallel to bedding. The best veins contain four types of
sulfides: pyrite, pyrrhotite, chalcopyrite and sphalerite, which make up from 5 to 60% of the vein
fillings. Beside gold, the veins contain silver and small amounts of copper and zinc.
ANACONDA INFILLS AND EXTENDS THE GOLDBORO GOLD DEPOSIT,
INTERSECTING 27.12 G/T GOLD OVER 2.5 METRES, 16.65 G/T GOLD OVER 2.0
METRES, 50.60 G/T GOLD OVER 1.0 METRE AND 102.43 G/T GOLD OVER 0.7
TORONTO, ON – September 4, 2019 - Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX: ANX)
(OTCQX: ANXGF) is pleased to announce results from 18 diamond drill holes (BR-19-72 to BR-19-76 and BR-19-86
to BR-19-97 and BR-19-99) drilled in the East Goldbrook Gold System (“EG Gold System”) at the Goldboro Gold
Project in Nova Scotia ("Goldboro"). The 4,391 metres of diamond drilling were part of a recently completed 5,734-
metre diamond drill program announced on February 28, 2019 and were designed to infill portions of the EG Gold
System (6 drill holes) to upgrade resource categorization (the “Infill Drill Program”) and to extend the EG Gold System
(12 drill holes) east of the 2018 resource model limits at Section 9550E (the “Extension Drill Program”) (Exhibit A, B
Selected composited highlights from the recent Infill Drill Program include:
• 50.60 g/t grams per tonne ("g/t") gold over 1.0 metre (246.0 to 247.0 metres) in hole BR-19-89;
• 12.23 g/t gold over 2.0 metres (214.3 to 216.3 metres) in hole BR-19-89;
• 6.03 g/t gold over 2.9 metres (200.7 to 203.6 metres) in hole BR-18-90;
• 72.40 g/t gold over 0.6 metres (21.0 to 21.6 metres) in hole BR-18-87; and
• 32.62 g/t gold over 0.9 metres (290.7 to 291.6 metres) in hole BR-18-87.
Selected composited highlights from the recent Extension Drill Program include:
• 27.12 g/t gold over 2.5 metres (51.3 to 53.8 metres) in hole BR-19-97 including 133.11 g/t gold over 0.5
• 102.43 g/t gold over 0.7 metres (142.0 to 142.7 metres) in hole BR-19-86;
• 16.65 g/t gold over 2.0 metres (167.5 to 169.5 metres) in hole BR-18-88 including 65.49 g/t gold over 0.5
• 5.36 g/t gold over 2.2 metres (321.1 to 323.3 metres) in hole BR-18-75; and
• 17.79 g/t gold over 0.5 metres (192.8 to 193.3 metres) in hole BR-18-74.
"The Infill Drill Program successfully infilled specific portions of the EG Gold System that were identified for
development in the 2018 Preliminary Economic Assessment and intersected gold mineralization with grade and widths
consistent with those encountered during earlier drill programs. It is anticipated that the density of drilling will upgrade
these areas of the resource to the Indicated category and will be able to be included in the upcoming mineral resource
update. In addition to these results, the Extension Drill Program successfully demonstrated that the Goldboro Deposit
continues eastward at least 375 metres beyond the previous geological modelling. These drill results will likewise be
used to model the deposit eastward and will be included in a resource update. Anaconda has completed 15,837 metres
of diamond drilling since July of 2018 which will be included in the new resource update and published in a Feasibility
Study expected to be completed in the fourth quarter of 2019. "
~Kevin Bullock, CEO, Anaconda Mining Inc.
The Infill Drill Program intersected high-grade, mineralized gold zones as predicted by the geological model and is
expected to upgrade resource categorization in this area of the EG Gold System (Exhibit A and B), which was part of the
mining scenario outlined in the Company’s 2018 Preliminary Economic Assessment. The Infill Drill Program also
demonstrated the continuity of mineralization in the EG Gold System where it intersected 10 instances of visible gold.
The Extension Drill Program extended the strike of the Goldboro Deposit eastward by 375 metres from the 2018 resource
model limit (Exhibit A and C), encountering typical high-grade mineralization. In addition to extending the deposit strike,
the Extension Drill Program identified 15 new mineralized zones in total and encountered 14 instances of visible gold.
The EG Gold System now contains 26 separate mineralized zones (15 more than the 2018 resource model), has been
tested to a known depth of 400 metres, and remains open for expansion.
Anaconda also intersected strong concentrations of high-grade mineralization (e.g. 27.12 g/t gold over 2.5 metres in
hole BR-19-97) contiguous with other high-grade gold intercepts previously reported on February 28, 2019, which
included 25.07 g/t gold over 1.5 metres (Exhibit C). These intercepts are located approximately 150 metres up plunge
from another high-grade result of 215.74 g/t gold over 3.65 metres as previously reported from historical drilling. These
results indicate there may be high-grade chutes located along the south dipping limb of the host fold structure within the
EG Gold System (Exhibit C), which are common in other areas of the Goldboro Deposit. Several of these intercepts are
less than 75 metres from surface and will be evaluated for open-pit potential as part of the on-going feasibility study.