First Drill Results From Acadian's Fifteen Mile Stream Project
posted on
Sep 19, 2011 11:35AM
Recent Drill Results: 2.03 g/T over 106.8 metres, including 2.81 g/T over 72.9 metres
Monday, September 19, 2011
HALIFAX, Sept. 19, 2011 /CNW/ - Acadian Mining Corporation ("Acadian" or "Company") (TSX: ADA) is pleased to provide drilling results from the first 4 holes of the program underway at its wholly owned Fifteen Mile Stream gold project in Nova Scotia, Canada.
Highlights:
Grant Ewing, President and C.E.O., stated, "This is the first drilling program conducted at the Fifteen Mile Stream project in over 20 years, and the initial results released today confirm our expectations that the project has excellent potential to host a significant bulk tonnage gold deposit."
Drill Hole Descriptions
Drill hole FS-11-110 drilled through the fold hinge near surface and the south limb of the fold at depth, cutting through the mineralized stratigraphy. Two voids representing approximately 7.4 metres of mined out material were intersected. Drill hole FS-11-111 was drilled above FS-11-110 on the same section and appears to have cut the top of the mineralized stratigraphy. Drill holes FS-11-112 and FS-11-113 were drilled in a similar geological position as FS-11-110 and FS-11-111 respectively, 25 metres east. Drill holes FS-11-112 and FS-11-113 each encountered a 3 metre void. The locations of the drill holes are shown on a plan map and cross sections on Acadian's website.
Underground workings (voids) representing areas where small-scale mining of high grade gold veins were conducted in the late 1800's - early 1900's, were intersected in some of the drill holes as noted above. When assessing the current assays, these voids were assigned a grade of zero; presumably many of the workings that were intersected by drill holes represent ore grade stopes; therefore, the grade of intervals including these workings are likely understated.
Table 1: Results for Drill Holes FS-11-110 through FS-11-113
Drill Hole | From (m) | To (m) | Interval (m)** | Gold Grade (uncut g/T) |
FS-11-110 | 6.2 | 11.60 | 5.40 | 3.30 |
11.60 | 14.00 | 2.40 | Void | |
14.00 | 49.00 | 35.00 | 3.19 | |
49.00 | 54.00 | 5.00 | Void | |
54.00 | 79.10 | 25.10 | 3.01 | |
79.10 | 113.00 | 33.90 | 0.35 | |
113.00 | 152.00 | 39.00 | 0.05 | |
Composite* | 6.20 | 113 | 106.80 | 2.03 |
Including Composite* | 6.20 | 79.10 | 72.90 | 2.81 |
*Includes two voids given zero grade | ||||
FS-11-111 | 9.00 | 16.90 | 7.90 | 0.87 |
16.90 | 24.30 | 7.40 | 0.03 | |
24.30 | 53.20 | 28.90 | 0.99 | |
including | 29.20 | 41.20 | 12.00 | 1.59 |
53.20 | 87.47 | 34.27 | 0.27 | |
87.47 | 127.80 | 40.33 | 0.04 | |
FS-11-112 | 10.00 | 21.00 | 11.00 | 0.10 |
21.00 | 24.00 | 3.00 | Void | |
24.00 | 30.00 | 6.00 | 1.16 | |
30.00 | 38.00 | 8.00 | 0.03 | |
38.00 | 51.50 | 13.50 | 0.84 | |
51.50 | 81.00 | 29.50 | 0.10 | |
81.00 | 107.75 | 26.75 | 1.82 | |
107.75 | 127.50 | 19.75 | 0.23 | |
127.50 | 150.00 | 22.50 | 0.03 | |
FS-11-113 | 4.50 | 35.00* | 30.50 | 0.83 |
including | 9.50 | 22.55 | 13.05 | 1.42 |
35.00 | 38.00 | 3.00 | Void | |
38.00 | 44.00 | 6.00 | 0.21 | |
44.00 | 55.85* | 11.85 | 0.93 | |
55.85 | 71.00 | 15.15 | 0.30 | |
71.00 | 95.50 | 24.50 | 0.04 | |
*Coarse visible gold noted at ~32 metres and at ~55 metres; not included in sample that was assayed |
** Due to the fact that the drill holes intersected folded mineralized stratigraphy, the true width of the intervals varies within a drill hole. Refer to cross sections on Acadian's website for further information.
Fifteen Mile Stream Gold Project Details:
Analytical techniques and sampling protocols:
All samples have been prepared and assayed using the Screen Fire Assay Method (Screen Metallics Gold, Double Minus) at ALS Chemex. General details of the Screen Fire Assay Method can be found on the ALS Chemex website and the Acadian website; however, management notes that in contrast to the usual 1000 g sample, a full metallic screen of the entire pulverized sample was performed for the Acadian samples. Additional details on sampling protocols, including QA/QC, are also available on the Acadian website (see the Responsibilities section under the Corporate Tab).
Qualified Person
Richard Horne, M.Sc., P.Geo., Chief Geologist of Acadian, is a Qualified Person as that term is defined in National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
Forward Looking Statement
Certain information regarding Acadian contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance, or other statements that are not statements of fact. Although Acadian believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Acadian cautions that actual performance will be affected by a number of factors, many of which are beyond Acadian's control, and that future events and results may vary substantially from what Acadian currently foresees. Discussion of the various factors that may affect future results is contained in Acadian's Annual Information Form dated March 31, 2011, which is available at www.SEDAR.com. Acadian's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
About the Corporation
Acadian is a Halifax, Nova Scotia, Canada based company with five advanced gold projects, all of which host National Instrument 43-101 compliant resources. The Corporation also owns barite properties on Cape Breton Island, Nova Scotia. Acadian's primary focus is centered on exploration and development of its gold deposits in Atlantic Canada.
For additional information on Acadian's properties and activities, please visit our web site at: www.acadianmining.com.
For further information:
PLEASE CONTACT:
Grant Ewing, President and Chief Executive Officer
(902) 444-7779 or Toll Free: (877) 444-7774
[email protected]
Halifax, Nova Scotia
No regulatory authority has approved or disapproved the contents of this news release.