Acadia, Hecla revise Mooseland exploration

The revised plan calls for extensive exploration of the Mooseland West zone through drifting on the 330-ft level and 500-ft level from a planned 600-ft shaft.

Hecla can earn a 60% interest in the project by making cash payments to Acadia of $2 million and by funding all costs through to production. Acadia will hold a carried 40% interest.

Work by Acadia has defined a drill-inferred reserve of 2.02 million tons grading 0.39 oz gold per ton across an average width of 5 ft.

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