Article In Goldboro's Local NewspaperAnaconda officials pleased with progress of Goldboro Gold Project
Milestones reached in past year
By Corey LeBlanc
GOLDBORO – Officials with Anaconda Mining Inc. – owners of the Goldboro Gold Project – are optimistic about the progress of its proposed initiative for Guysborough County. In a tweet sent out earlier in October, the Toronto-based company celebrated some of the milestones that have been reached in recent months, including 20,000 metres of infill drilling to upgrade the inferred resources, ongoing permitting and environmental baseline studies, along with progress in completing the crucial Definitive Feasibility Study (DFS), which is expected by the end of
2021.
In an Oct. 21 conversation with The Journal, company CEO Kevin Bullock described the potential Goldboro Gold as a “big project for Nova Scotia.” Almost one year ago, Anaconda announced
that the “scale and potential” of the project was “changing significantly” because updated findings of its optimization process and mineral resource estimate pointed towards a more profitable open-pit mining scenario. In late February of this year, the mining company announced that its estimate of approximately 1.4 million ounces of gold deposits at the Goldboro site – after wrapping up a drilling and exploration process – had mushroomed to more than 2.75 million ounces.
At that time, Bullock said those skyrocketing deposit numbers would change their plans dramatically and materially,” adding that the location was “quickly transforming into a top-tier gold
deposit.” Considering those findings, Anaconda started to explore options associated with large
open-pit mines, rather than a smaller underground one, including expanding the scope of its
DFS, one focused more on an open-pit dominant option. Nevertheless, the company noted that
didn’t mean underground mining could not be part of the future for the mine’s life. Company officials estimate the DFS will be complete in the fourth quarter of this year, while it expects to submit its Environmental Assessment Registration Document (EARD) to provincial government in the first quarter of 2022.
When the latter takes place early next year, Bullock noted that will set the stage for an 18-month or so backand-forth, with the company having to answer questions from provincial environment officials. While that process unfolds, he said Anaconda will move forward with exploration, ncluding an estimated $2.5 million drilling program. Bullock noted that 50 per cent of their property – located on the west side – remains untapped.
As for the dollars and cents involved, Bullock noted that the company completed a preliminary economic assessment (PEA) “several months ago,” one that estimated an 18-year life for the
planned gold mine, with production coming in at 112,000 ounces per year. If the process unfolds
as they anticipate, Anaconda targets the fourth quarter of 2022 for the start of the construction
process, which would bring a projected 350 jobs to the region. As for when the “first pour” could take place at the Goldboro Gold Project, the company continues to target late 2024. Bullock said an openpit mine would require 175 full-time workers. He added, just as importantly, that the “average spinoff” with a project of this type is seven-to-one, which translates into approximately
1,000 indirect
jobs.
(Thanks to KenGif for sending it out to me)