Acadian Mining Corporation ("Acadian") or (the "Company") is a Halifax, Nova Scotia, Canada based mining company focused on developing five advanced gold properties, Beaver Dam, Fifteen Mile Stream, Tangier, Forest Hill and Goldenville, which form the core holdings of the Scotia Goldfields Project. All of the five advanced properties host gold resources described in technical reports prepared in compliance with National Instrument 43-101 and are available on www.sedar.com. Acadian is bringing a new approach to the development of Nova Scotia gold deposits by pursuing a multiple mine, central processing, managing and servicing strategy.
Acadian is also focused on zinc-lead and barite properties in Atlantic Canada. Acadian has operated an open pit zinc-lead mine (Scotia Mine) at Gays River, Nova Scotia since May, 2007 (Scotia Zinc Project) through its 100% wholly owned subsidiary ScoZinc Ltd.
ScoZinc Limited, owns the lead-zinc property and mill known as the Scotia Mine, situated in Gays River, Nova Scotia. The Scotia Mine was put into operation in 2007 and operated as an open pit mine. As a result of falling zinc and lead prices in 2008 mining operations were ceased on March 24, 2009 and the mine is currently being placed in care and maintenance status. ScoZinc applied for, and was granted, protection under the Companies' Creditors Arrangement Act on December 22, 2008, the protection was subsequently extended to May 22, 2009.
The Company holds a 29.12% equity interest in Royal Roads Corp. ("Royal Roads"). Royal Roads is a Halifax, Nova Scotia, Canada based mineral exploration and development company listed for trade on the TSX-Venture Exchange under the trading symbol RRO and on the Frankfurt Exchange under the symbol RR91. The company has two key assets, both 100% owned, and several others under JV agreements.
The 100% owned Daniels Pond deposit is located in the 16,075 hectare Tulks North mineral property strategically located in the centre of the world-class Buchans base metal camp in central Newfoundland, Canada.
The other key asset is our 100% owned subsidiary Buchans River Ltd., which gives RRO control of the past producing Buchans Mine, and all of its surrounding ground. The Buchans Mine operated for 58 years before shutting down in 1984 and was one of the world's richest base metal mines having produced over 16 million tonnes with average grades of 14.51% zinc, 7.56% lead, 1.33% copper, 126 g/t silver and 1.37 g/t gold. This asset represents a unique world class opportunity for exploring for high grade base metals on this extensive 14,000 hectare property. (For more details visit the Royal Roads Corp. website at www.royalroadscorp.ca).
In early 2007 Acadian acquired through staking, a 100% interest in 89 mineral claims totaling 1,400 hectares covering Lake Ainslie Barite-Fluorite Deposits in Cape Breton Island, Nova Scotia. Based on historical information these deposits are believed to represent the largest in situ resource of barite in Atlantic Canada. The deposits host an uncategorized resource of 4.25 million tonnes grading 34.0% barite and 17.3% fluorite (Conwest Exploration Company Limited, 1972). This equates to approximately 1.6 million tonnes of contained barite (90%). These resources are not National Instrument 43-101 compliant and as such can not be relied upon.
The barite-fluorite resource estimation is based on 129 diamond drill holes totaling 16,394 meters of historic drilling. There is potential for expanding these resources through additional drilling. The principal consumer of barite is the oil and gas industry, with barite being a principal component in drilling mud, serving as a weighting agent to prevent blowouts and gushers. The bullish future for oil and gas points to a growing demand for barite.
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Caution on Forward-Looking Statements
This website contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performances of Acadian, its subsidiaries and their respective projects, the future price of lead, zinc, gold and other minerals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, limitations of insurance coverage and regulatory matters. Often, but not always, forward-looking information statements can be identified by the use of words such as "plans", "expects", "is expected", "budget'', ''scheduled", "estimates", "forecasts'', ''intends", ''anticipates'', or "believes", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may'', "could", "would", "might", or "will" be taken, occur or be achieved.
Forward-looking statements involve both known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Acadian and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Although Acadian has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.