Yesterday, the Anaconda Mining Inc (OTCMKTS:ANXGF) stock was in focus among investors and ended the day with gains of as much as 4%. The rally in the stock came about after the company made an announcement with regards to the results derived from the diamond drilling that had been conducted as part of water wall installations and geoclinical studies at one of its properties.
The property in question is the Goldboro Gold Project, which is owned by Anaconda Mining 100%. The results from the diamond drilling program at the property proved to be quite positive for Anaconda Mining.
While the purpose of the drilling program was something else altogether, many of the holes at the property displayed mineralisation inside open pits and it goes without saying that it was a major development for Anaconda.
The results indicated 2.21 G/T gold over 11 metres and 1.61 G/T gold over 14.7 metres at the property. The feasibility study ended up being a source of significant encouragement for Anaconda Mining. In this context, it might be a good idea for investors to perhaps add the stock to their watch lists and keep an eye on the developments over the coming days.
