Anacortes Mining Corp. (TSXV: XYZ) (OTCQB: XYZFF) ("Anacortes" or the "Company") is pleased to announce it will be releasing its inaugural preliminary economic assessment (PEA) pre-market Tuesday, March 8th 2022 and will be hosting a conference call to discuss the results on the same day at 4:30 PM EST (1:30 PM PST).
As stated in the March 2021 NI 43-101 report, Indicated Mineral Resources at Tres Cruces are estimated to contain 46.5 million tonnes grading 1.65 g/t gold for a total of 2,474,000 ounces of contained gold. Inferred Mineral Resources are estimated at 2.6 million tonnes grading 1.26 g/t gold for 104,000 ounces of contained gold. The near surface Indicated Mineral Resource is comprised of 9.64 M tonnes of oxide mineralization grading 1.37 g/t gold for 425,000 contained ounces of gold, and the immediately underlying leachable sulfides of 5.71 M tonnes grading 1.12 g/t gold for 205,000 contained ounces, form the basis for a reasonably sized heap leach operation.
PEA Conference Call Details
Tuesday, March 8, 2022, at 4:30 PM EST (1:30 PM PST)
The Company also announces that its common shares will commence trading on the OTCQB on March 4th, 2022 under the symbol XYZFF. The common shares will continue to trade on the TSX Venture Exchange under the symbol "XYZ".
Jim Currie, CEO of Anacortes Mining, states, "We have several major milestones planned for 2022 and are looking to continue to carry this momentum as we execute on delivering the PEA for Tres Cruces, initiate drilling and commence a feasibility study on the oxide resources shortly thereafter. The United States represents a large audience of potential shareholders, and we believe it is important to give these prospective investors a more accessible opportunity to take part in our growth. We look forward to discussing the PEA results on Tuesday after market with industry participants, analysts and investors."
Grant of options
On February 2, 2022, the Company granted 150,000 stock options to three officers of the Company and 75,000 stock options to an employee of the Company. All of these options vest immediately and entitle the holder to purchase one common share of the Company at an exercise price of C$2.40 per share for a period of five years from the date of grant.
James ("Jim") Currie, P. Eng., is a qualified person as that term is defined in National Instrument 43-101. Mr. Currie has read this news release and takes responsibility for the technical disclosure contained in this news release.
For more information visit: www.anacortesmining.com
On Behalf of the Board: James A. (Jim) Currie President & CEO
Investor Relations Contact: Kin Communications Inc. 604-684-6730 XYZ@kincommunications.com
Anacortes is a new growth-oriented gold company in the Americas, which owns a 100-per-cent interest in the Tres Cruces gold project located in Peru. Tres Cruces is one of the highest-grade oxide deposits globally and hosts oxide plus sulphide indicated resources of 2,474,000 oz at 1.65 g/t gold and inferred resources of 104,000 oz at 1.26 g/t gold, inclusive of 630,000 oz of high-grade leachable gold at 1.28 g/t gold. Anacortes is well capitalized and intends to aggressively advance Tres Cruces through feasibility and to production under a heap leach open-pit scenario. Additionally, Anacortes will continue to seek further growth opportunities in the Americas, with the goal of creating the next mid-tier multi asset gold producer.