Anaconda Mining Inc. (OTC: ANXGF), a gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia, has announced that it is collaborating with the College of the North Atlantic on innovative research and development projects to improve ore grade determination and mining control at Anaconda’s Point Rousse Project.
Dr. Gary Thompson, CNA’s Chair of Industrial Research and the Principal Investigator, will lead the Projects.
According to the company’s press release, Thompson will lead the projects to (1) develop a more accurate, lower cost, quicker method for mine sample analysis by augmenting existing and/or creating new technology; (2) improve current methods for ore sorting to maximize what would otherwise be lost to mine waste; and (3) develop innovative techniques to identify and quantify small units of ore in both the primary production drilling and extraction phases of mining.
A total amount of $667,500 is being contributed with Anaconda Mining is investing $90,000 cash and $102,500 in-kind. NL Innovation Council is contributing $250,000, and Natural Sciences and Engineering Research Council of Canada College and Community Innovation Program – Applied Research and Development Grants is contributing $225,000 towards the project.
CEO of Anaconda Mining Inc., Dustin Angelo, commented, “Anaconda’s core value of resourcefulness has created an environment where innovative thinking is encouraged and innovative ideas are allowed to flourish. Through the implementation of several projects in recent years we have found unique ways to reduce waste, reduce our environmental footprint, improve productivity and increase gold production. We are pleased to continue our relationship with the College of the North Atlantic with this latest initiative to explore opportunities to improve ore sorting and ore grade analysis.”
“Developing new and innovative methods to reduce cost and improve productivity are vital to the success of mines in our province. Through this research project, exploration techniques will be developed, productivity will be enhanced and students will be supported and trained. Under the direction of the Innovation and Business Investment Corporation, innovation is evolving in our province, as we continue to grow the pool and capacity of Newfoundland and Labrador’s innovative and growth-focused businesses as set in The Way Forward’s Business Innovation Agenda,” stated Hon. Christopher Mitchelmore, Minister of Tourism, Culture, Industry and Innovation.
Hon. Siobhan Coady, Minister of Natural Resources said, “Innovation is critical for the future success of our mining industry. Collaboration among government, industry and academia is fundamental to driving that innovation, and is a cornerstone of our future mineral strategy for Newfoundland and Labrador.”
Dr. Marc Fortin, Vice-President, Research Partnerships, Natural Sciences and Engineering Research Council of Canada, remarked, “NSERC is proud to support collaborations that allow research results to be applied to industrial needs. The knowledge and innovative techniques developed from this research will be applicable to mines and service providers across the country and will help to ensure the growth of Canada’s mining sector.”
“CNA is excited to explore new partnerships with the province’s mining sector that engage the college’s expertise, programs, students and graduates to support exploration and innovative processing technologies. We look forward to this collaboration with Anaconda Mining and the numerous mutual benefits this exciting project has to offer,” said CNA’s Associate VP of Applied Research and Innovation, Dr. Michael Long.
Brian Warr, MHA for Baie Verte-Green Bay commented, “Though partnerships and innovative practices, Anaconda Mining has become a global leader in the mining industry. The company is a significant contributor to the economy of the Baie Verte Peninsula and this latest R&D project demonstrate Anaconda’s commitment to this region of the province. I am delighted that the provincial government is supporting this partnership between College of the North Atlantic, NSERC ARD and Anaconda which will improve productivity at the Point Rousse Project and provide valuable training for students.”