TORONTO, Jan. 26, 2017 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") - (TSX:ANX) is pleased to announce the recognition of President and CEO Dustin Angelo as Industry Person of the Year by Natural Resources Magazine. The second annual Industry Excellence Awards recognizes a group of companies and individuals who stand out among their competitors in Atlantic Canada's oil and gas, mining and renewable energy sectors, and are re-shaping their industries in the realms of resource development, health and safety, innovation, environmental stewardship and championing communities.
"As Chairman of the Board of Directors for Anaconda Mining Inc. it is my pleasure to congratulate Dustin Angelo on this well-deserved recognition. Over the past six years, under his leadership, Anaconda has developed the Point Rousse Project into a profitable gold production and exploration operation. Furthermore, Dustin has cultivated a workplace culture in which innovation thrives, allowing the Company to grow, improve and succeed."
~ Tim Casgrain, Chairman, Anaconda Mining Inc.
"Dustin Angelo and Anaconda Mining stood out as industry achievers in 2016. The Company increased its gold production to 16,000 ounces and added over 12,500 hectares to its land base on the island by acquiring the Viking, Jackson's Arm and Tilt Cove properties. The Company was named "Miner of the Year" by the Newfoundland branch of the Canadian Institute of Mining, Metallurgy and Petroleum. Anaconda also struck an agreement that repurposed waste rock into a profitable aggregate for shipping to the United States which created over 70 new jobs in the process. The ability to achieve all of these things, and more, in 2016 is why Dustin Angelo is Natural Resources Magazine's Industry Person of the Year."
~ Darren Campbell, Editor Natural Resources Magazine.
Natural Resources Magazine is a resource-specific trade magazine published four times a year. Its editorial content is determined in collaboration with a panel of regional industry experts. It is a division of Atlantic Business Magazine which is a bi-monthly consumer publication that covers all areas of business within the four Atlantic Provinces.
View the digital edition of Natural Resources Magazine: http://bit.ly/NatRes-PersonOfTheYear2016
Anaconda Mining is a growth-oriented, gold mining and exploration company with a producing project called the Point Rousse Project and three exploration/development projects called the Viking and Great Northern Projects and the Tilt Cove Property in Newfoundland.
The Point Rousse Project is approximately 6,300 hectares of property on the Ming's Bight Peninsula located in the Baie Verte Mining District in Newfoundland, Canada. Since 2012, Anaconda has increased its property control by ten-fold on the peninsula and gold production to nearly 16,000 ounces per year. In an effort to expand production, it is currently exploring three primary, prospective gold trends, which have approximately 20 km of cumulative strike length and include five deposits and numerous prospects and showings, all within 8 km of the Pine Cove Mill. A second project called the Tilt Cove Property, consisting of 350 hectares, is located approximately 60 kilometres by road from the Pine Cove Mill but is also within the Baie Verte Mining District and underlain by similar geology to the Point Rousse Project.
Anaconda also controls the Viking and Great Northern Projects, which have approximately 6,225 and 6,375 hectares of property, respectively, in White Bay, Newfoundland, approximately 100 kilometres by water (180 kilometres via road) from the Pine Cove Mill. The Viking Project contains the Thor Deposit and other gold prospects and showings and the Great Northern Project includes numerous prospects and showings within a similar geological setting as the Viking Project. The Company's plan is to discover and develop more resources within these project areas and substantially increase annual production at the Pine Cove Mill from its current rate of nearly 16,000 ounces.
As the only pure play gold producer in Atlantic Canada, Anaconda Mining is turning the rock we live on into a growing and profitable resource. With a young and motivated workforce, innovative technology and the support of local suppliers, Anaconda is investing in the people of Newfoundland & Labrador and giving back to the communities in which we operate – building a better future for all our stakeholders, from the ground up.
This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, statements regarding targets, estimates and/or assumptions in respect of future production, mine development costs, unit costs, capital costs, timing of commencement of operations and future economic, market and other conditions, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to: the final approval of the private placement by the Toronto Stock Exchange; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of the any project caused by unavailability of equipment, labour or supplies, climatic conditions or otherwise; termination or revision of any debt financing; failure to raise additional funds required to finance the completion of a project; and other factors. Additionally, forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements, including statements regarding Anaconda's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no responsibility to update them or revise them to reflect new events or circumstances, except as required by law.
SOURCE Anaconda Mining Inc.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/January2017/26/c2089.html