Anaconda Gold Options Carlin, Nevada Projects to Quicksilver Ventures Inc.TORONTO -- Option Agreement assigned by Hunter Dickinson Group Inc. Anaconda Anaconda, city, United States Anaconda (ănəkŏn`də), city (1990 pop. 10,278), seat of Deer Lodge co., SW Mont.; inc. 1887. Gold Corp. (TSXV-ANX) is pleased to report that an option agreement held by Hunter Dickinson Group Inc. ("HDG HDG Heading HDG Haus der Geschichte (German) HDG Hot Dip Galvanized HdG Havre de Grace HDG Hab Dich Gern (German) HDG Heavy-Duty Gasoline-Powered Vehicle HDG Heeresdisziplinargesetz ") on Anaconda's Horse Mountain gold project in Nevada has been assigned to a new company, Quicksilver Ventures Inc. (TSXV-QSV.H). Anaconda's 196-claim Horse Mountain project is located in Elko County, Nevada Elko County is located in the western U.S. state of Nevada. As of the 2000 census, the population was 45,291. Its county seat is Elko6. The county was organized on March 5, 1869, being taken from Lander County. , approximately 40 km north of the Meikle gold mine, operated by Barrick Gold Corporation. A geology report completed by HDG and entitled, "Horse Mountain Gold Project: Deep Exploration for High Grade Gold on the North Extension of the Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] Trend, Elko County, Nevada" by Jim Oliver, a Qualified Person as defined by NI-43-101, concluded the following: "Analytically and visually, the best mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. in the project area is developed along the Rock Creek fault which displays strong silicification si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. , disseminated stibnite stibnite (stĭb`nīt), antimony sulfide, Sb2S3, a mineral, silvery gray in color, with a metallic luster. It crystallizes in the orthorhombic system. , arsenic oxide staining and strongly anomalous gold, silver, arsenic, antimony and mercury over strike length of 1,500 metres." The report also examined stratigraphic comparisons from deep drill hole intersections from the Hollister gold project 25 km south west of Horse Mountain and also controlled by HDG. Based on that examination, the reported concluded " drill sections from the Hollister Mine indicate that the top of the carbonate rocks which host giant Carlin-type deposits on the northern Carlin Trend could occur at depths of 575-825 metres in the Horse Mountain area." Quicksilver Ventures intends to drill test for lower plate carbonate rocks and high grade, Carlin-type gold mineralization similar to that found at the Ren and Meikle deposits to the south. "Anaconda Gold is very excited about the exploration potential of our Horse Mountain project, especially when one sees the combination of excellent location in the Carlin Trend, structure, favourable geology and highly anomalous geochemistry," Nick Tintor, President of Anaconda Gold said. "Our partnership with Quicksilver Ventures provides Anaconda with tremendous leverage in one of the world's most prospective gold mining camps while we continue advancing our mine development projects in Canada," Tintor added. Under the terms of an option agreement signed with HDG and which was assigned to Quicksilver, Quicksilver can earn a 55% interest in the Horse Mountain property by making exploration expenditures of US$1.5 million by August 31, 2010, making all underlying option payment and holding costs and issuing Anaconda 125,000 common shares of Quicksilver. Anaconda also received a cash payment of US$45,000 from HDG earlier this year. Quicksilver can earn an additional 15% in the project by financing and completing a bankable feasibility study. Anaconda Gold is completing a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. on its Pine Cove gold project in Newfoundland and expects a production decision this year. Anaconda is also drilling at its Damoti Lake gold project in the N.W.T., and plans to bring that project to feasibility next year. The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Anaconda Gold Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ANX) 
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion