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Author: Admin | 2025-04-28
Tilt Cove Project The Tilt Cove Project is an exploration-stage gold-copper project located within the Baie Verte Mining District, near the community of La Scie, Newfoundland, approximately 45 kilometres by road from the Company’s Pine Cove Mill. Anaconda has assembled a large property covering a 20 kilometre strike extent of the Betts Cove Complex, a highly prospective geological terrane with a record of past gold and copper production. The Tilt Cove Project comprises a total of 5,700 hectares (228 claims in 20 licences and 1 mining lease) of prospective mineral lands acquired via a combination of staking by ANX and several option agreements with local prospectors as outlined below (Exhibit A). Highlights of the Tilt Cove Project include: Large land position that has been consolidated for gold exploration for the first time in 20 years with 20 kilometres of prospective strike; Includes the Nugget Pond Horizon, which hosts the past-producing high-grade Nugget Pond Mine that produced 168,748 ounces and an average grade of 9.85 g/t gold; Nugget Pond mineralization is similar to other Banded-Iron-Formation hosted lode gold deposits, such as Meadowbank, Lupin, Meliadine and Homestake; Includes the Venams Bight Formation, which hosts the Pine Cove Mine at the Point Rousse Project; Significant high-grade historical drill intercepts and the identification of 12 high-priority gold exploration targets including: 6.77 g/t gold over 5.0 metres in hole BC-89-02; 11.20 g/t gold over 1.1 metres in hole BC-89-01 8.82 g/t gold over 1.0 metre in hole NBC-96-01; and Past-producing copper mines including the Tilt Cove and Betts Cove Mines. Geology and Mineralization The Tilt Cove Project is host to orogenic gold and volcanogenic massive sulphide mineralization within the Betts Cove Complex, a Cambrian to Early Ordovician ophiolite complex and volcanic sequence, comprised of the Betts Cove Ophiolite and its volcanic and sedimentary cover sequence, the Snooks Arm Group. The sequence is in thrust contact with Silurian felsic volcanic rocks of the Cape St. John Group to the north and intruded on the northwest side by the Silurian Cape Brule Porphyry and Ordovician Burlington Granodiorite. The Betts Cove Complex is geologically equivalent to rocks underlying Anaconda’s Point Rousse Project. The Tilt Cove Project is host to three past producing mines that include the Nugget Pond Gold Mine and the Tilt Cove and Betts Cove Copper Mines, as follows: Nugget Pond Mine - The Nugget Pond Mine produced 168,748 ounces of gold with an average grade of approximately 9.85 g/t between 1997 and 2001. The deposit is hosted along the Nugget Pond Horizon, an iron formation with nearly 20 kilometres of strike and has similarities with other Canadian Banded-Iron-Formation hosted lode gold deposits such as Lupin, Meadowbank, Meliadine and Committee Bay. Tilt Cove Mine - The
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