Anaconda Mining Ramps Up Exploration Program At Tilt Cove Gold Project, Including IP Geophysical Survey And 10,000 Metres Of Diamond Drilling

Jul 21, 2020

TORONTO, ON / ACCESSWIRE / July 21, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX, Financial) (OTCQX:ANXGF, Financial) is pleased to announce the initiation of a 35-line kilometre geophysical survey and 10,000 metre diamond drill program at the Tilt Cove Gold Project ("Tilt Cove"), located within the Baie Verte Mining District in Newfoundland, approximately 45 kilometres by road from the Company's Pine Cove Mill and tailings facility (Exhibit A). Tilt Cove is a significant, recently consolidated land package encompassing the same geological trend as the past producing, high-grade Nugget Pond Mine, which had an average recovered grade of 9.85 grams per tonne ("g/t") gold. Tilt Cove covers a 20-kilometre strike extent of the Betts Cove Complex, a highly prospective geological terrane including the Nugget Pond Horizon ("NPH"), the iron-rich sedimentary unit that hosts the past-producing Nugget Pond Mine (Exhibit A).

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