Acadia sees increases in N.S. gold bet tonnage

The gold-bearing structure on the Mooseland property, 75 miles northeast of Halifax, N.S. has been extended and the potential for extending it even further is still very great.

Drilling by Toronto-listed Acadia Mineral Ventures on the faulted- off portion of the east-west-striking structure, indicates this so-called eastern zone extends for at least 1,500 ft.

Indicated ore reserves on the western part of the structure, where the original discovery was made, total 645,000 tons at a grade of 0.24 oz gold per ton. The strike length of this zone is about 2,500 ft.

Based on assay results received from 22 of 40 holes completed so far on the eastern zone, and from the visual examination of drill core, Acadia President Donald Smith says the eastern zone is “generally higher grade and has slightly better widths” compared to the west zone. “Economic tonnages will be substantially increased,” he adds.

Some of the wider intersections include:

Hole Intersection Assay

(ft) (oz/ton) E-10 4.20 0.76

4.66 0.32

5.00 0.15

7.74 0.13

8.00 0.13 E-11 4.75 0.20

4.92 0.15 E-12 4.63 0.19 E-15 5.61 0.16 E-16 5.00 0.14 E-18 5.58 0.21 E-19 4.92 0.09 E-20 6.86 1.28

4.26 0.15 E-21 4.59 0.15

The deepest intersection occurred at a hole depth of 757 ft, in hole E-10.

Acadia is continuing to drill on the east zone with two machines. There is another 2,000 ft of ground remaining to the eastern boundary of the property.

The company is well financed to complete the program.

The gold deposit is also open to the west and at depth.

The company’s shares traded this week at about $2.20.