Gold and Silver Juniors, Mid-tiers and Producers Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Mr. Aloha	11/16/2006 11:29:00 PM
	of 78410

Acadian Gold gets go-ahead to expand zinc-lead operation By BRUCE ERSKINE -- Halifax Chronicle-Herald 2006-11-16 04:23:04 HALIFAX -- Acadian Gold Corp. of Halifax has won the exploration rights to 86 mineral claims covering 1,398 hectares of land next to its Scotia Mine zinc-lead project in Gays River. "This is a very positive development for Acadian Gold, in that it significantly enhances the potential for extending the Scotia Mine life beyond the 7.5 years supported by the current reserves," said Acadian Gold president and CEO Will Felderhof on Wednesday. The Scotia Mine has enough reserves to support five years of open-pit production at 700,000 tonnes per year and 2.5 years of underground production at 472,500 tonnes per year, the company said. The newly acquired property, which was controlled by the province and optioned for an undisclosed bid, includes a zinc-lead deposit discovered in 1972 by Getty Mining Northeast Ltd., a subsidiary of Getty Oil. Acadian Gold said previous drilling on the Getty deposit indicates that it has both open pit and underground mining possibilities, but that more work needs to be done to determine its development potential. The company has posted a bond with the Nova Scotia Department of Natural Resources to support a work program on the land. The mineral claim group is subject to a one per cent gross metal royalty to Globex Mining Enterprises Inc. Acadian Gold has an option to purchase one-half per cent for $300,000 at its option at any time, and has a first right of refusal on the remaining one-half per cent. In addition to its Gays River zinc-lead project, which is expected to begin production in 2007, Acadian Gold is developing four gold properties in eastern Nova Scotia.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next