Overtures by Canadian and foreign interests to assist in developing the Mooseland gold property in Nova Scotia have been received by junior explorer Acadia Mineral Ventures of Toronto.
The company has clearly stated it is an exploration company, not a mine operating company, and would consider forming a joint venture on the project. No commitments have been made in that regard, according to President Donald Smith.
Ore reserve estimates for the western portion of the property, located in Halifax Cty., were released this week.
About 345,000 tons of probable and 300,000 tons of possible reserves grading 0.24 oz gold per ton over a mining width of five feet were calculated by mph Consulting of Toronto to a depth of 750 ft.
Additional drill hole results, not included in the estimate, indicate there is considerable potential to increase these reserves. Hole 66, for example, intersected 1.29 oz over a width of 5.25 ft at a depth of about 1,000 ft.
Results from the newly discovered zone to the east are most promising as well. Partial assays have been received for the first eight of the 14 holes completed to date on this zone.
Drilling on the east zone is continuing, Mr Smith says, with two machines and an additional rig planned.
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