Acadian Gold Announces J.V. With Atlantic Gold On Extensive Land Package Prospective For Bulk Mineable Gold Deposits.HALIFAX, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ADA Ada, city, United States Ada (ā`ə), city (1990 pop. 15,820), seat of Pontotoc co., S central Okla.; inc. 1904. It is a large cattle market and the center of a rich oil and ranch area. ) ("Acadian Gold") announced today that it has joined forces with Atlantic Gold NL (ATV-Australian Stock Exchange) ("Atlantic Gold") in the search for bulk mineable gold deposits in the Caribou Caribou, town, United States Caribou (kâr`ĭb  ), town (1990 pop. 9,415), Aroostook co., NE Maine, on the Aroostook River; inc. 1859. anticlinal anticlinal /an·ti·clin·al/ (-kli´n'l) sloping or inclined in opposite directions. an·ti·cli·nal adj. Inclined in opposite directions, as two sides of a pyramid. structure ("Caribou Structure") of the Nova Scotia Nova Scotia (nō`və skō`shə) [Lat.,=new Scotland], province (2001 pop. 908,007), 21,425 sq mi (55,491 sq km), E Canada. Geography goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. . The Caribou Structure is host to Acadian Gold's Lake Lode property comprising approximately 1600 hectares and represents 2.4% of the Company's total holdings of 67,000 hectares. A recently completed reconnaissance rotary air blast (RAB Rab (räb), Ital. Arbe, island (1991 pop. 9,205), 40 sq mi (104 sq km) off Croatia, in the Adriatic Sea. One of the Dalmatian islands, it is a popular seaside resort. Fishing and agriculture are the main occupations. ) drilling program comprising 7,163 metres in 714 drill holes by Atlantic Gold has identified the Caribou Structure as being prospective for open pit style gold deposits. The reconnaissance drill holes were drilled on 80 metre centres along logging roads spaced at roughly 3 kilometre intervals in the north-eastern Nova Scotia goldfields. The drill program was guided by results of baseline orientation data previously collected around the nearby (approximately 9 kilometres south-west) Touquoy gold deposit being developed by Atlantic Gold and Moose River Moose River River, northeastern Ontario, Canada. It flows northeast for more than 60 mi (100 km) to empty into James Bay. A wide stream, it is actually the estuary for several rivers, including the Abitibi and Mattagami. Resources. The Touquoy deposit is in the feasibility stage and is the target of a production scenario contemplating a plant throughput of 1.5 million tonnes per year to produce 90,000 ounces of gold annually (Atlantic Gold Quarterly Report, June 30, 2005). The Touquoy deposit hosts gold resources of 300,000 ounces gold (4.44 million tonnes @ 2.1 g/t gold) in the indicated category and 172,000 ounces gold (2.47 million tonnes @ 2.2 g/t gold) in the inferred category (Atlantic Gold Quarterly Report, June 30, 2005). The high prospectivity of the Caribou Structure is indicated by a 15 kilometre long coincident gold-arsenic anomalous trend in bedrock at geochemical levels typical to that occurring peripheral to the Touquoy deposit. The host rocks to the gold-arsenic anomaly are pyrrhotite pyrrhotite (pĭr`ətīt) or magnetic pyrites, bronze-yellow to bronze-red mineral, a sulfide of iron sometimes containing nickel. It tarnishes easily and is somewhat magnetic. bearing argillites up to several hundred metres thick, and exhibit strong similarities to the host rocks at both Acadian Gold's Beaver Dam Beaver Dam, city (1990 pop. 14,196), Dodge co., SE Wis., on Beaver Dam Lake, in a productive farm and dairy area; inc. 1856. Industries included food processing, metal and metal products fabrication, printing, and machinery manufacturing. deposit and Atlantic Gold's Touquoy deposit. Acadian Gold's Beaver Dam deposit is located approximately 8 kilometres south-east of the joint venture property and 19.5 kilometres north-east of the Touquoy deposit, and hosts 101,750 ounces gold (1,329,000 tonnes @ 2.35 g/t gold uncut) in the measured and indicated category, and 334,271 ounces gold (3,808,000 tonnes @ 2.73 g/t gold uncut) in the inferred category (PR No. 29-04; Dec 22, 2004). A first phase (2005) drilling program has just been completed and these resources will be updated early in the fourth quarter. NOTE: There is a Map available on CCNMatthews' website at: http://www.ccnmatthews.com/docs/PR10-05.pdf The Acadian Gold - Atlantic Gold joint venture land package comprises 7,879 hectares and covers approximately 23 kilometres of strike length of the Caribou Structure. The joint venture is on a 50-50 basis with both parties having contributed their respective land holdings in the Caribou Structure. Atlantic Gold is the manager of the joint venture. A follow-up RAB drilling program designed to test high priority targets is scheduled to commence in October, 2005. Management's Opinion Will Felderhof, President and C.E.O., stated: "We are very pleased to join with Atlantic Gold in the search for potential bulk mineable gold deposits in the Caribou Structure. This fits very well with our corporate strategy and exploration focus which is to identify additional gold deposits similar to the Touquoy (Atlantic Gold), Beaver Dam (Acadian Gold) and Upper Seal Harbour (Orex Exploration Inc.) deposits, all of which are being explored/developed as potential open pit mines. We believe there is tremendous potential for this type of gold deposit in the Nova Scotia goldfields where Acadian Gold holds the premier land position." Other The Company has terminated its option to acquire the Tetagouche property in New Brunswick New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. as exploration results did not meet corporate requirements. In addition, because of the progress and success on the Company's holdings in the Nova Scotia goldfields, Acadian Gold has decided to concentrate its efforts on this gold camp. Peter C. Webster, P. Geo., is responsible for the management and supervision of the Company's exploration program and is responsible for the preparation of the technical information reported in this news release. Mr. Webster is an independent third party geologist, President of Mercator Geological Services Limited and a qualified person as defined by National Instrument 43-101. For additional information on the Company's properties and activities, please visit our recently updated web site at www.acadiangold.ca. If you wish to be added to the Company's e-mail or fax distribution list for future news releases and updates, please contact us at phone: 902 444-7779, fax: 902 444-3296. Shares Outstanding: 48,092,473 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the ad equacy or accuracy of this release. Acadian Gold Corporation (TSX VENTURE:ADA) |
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