Acadian Mining

(Press Release
No. 16-05)
Cut
Property Lower Category Tonnes Grade Ounces
Cut-off
Forest Hill 3.5 g/t 1.2m Indicated 225,000 14.91 108,000
Inferred 383,000 11.93 147,000

Forest Hill
  • Forest Hill is an underground gold project located 200 kilometres northeast of Halifax (40 kilometres southeast of Antigonish), and is 100% controlled by Acadian Mining. The property consists of 88 contiguous mineral claims that encompass the former operating Forest Hill mine and the favourable gold bearing geological structures in the immediate vicinity. Historic mining activity occurred from the late 1800's until 1916, with documented production of ~25,000 oz.

  • Between 1981 and 1989, the property was explored by third parties, including sinking of a 230 meter shaft (Teasdale Shaft) and development of ~ 10 kilometres of underground workings. A total of 105,143 tonnes of material mined during this period, including low grade material from development headings and high grade material from test stopes, returned a reconciled head grade of 6.39 g/t. Calculated gold grades for mill feed for diluted stoped material from the latter part of the bulk sampling ranged from 9.2-13.8g/t. Gold recovery from gravity and floatation was 94.9%.

  • The deposit is characterized by bedding-concordant quartz veins on the overturned limb of the Forest Hill Anticline, with numerous veins documented over a stratigraphic interval of ~250m. Veins occur within schistose intervals, separated by metasandstone. High-grade mineralization is confined to ore shoots within individual veins that plunge to the east, parallel to the fold hinge. Recognition of these shoots by previous operators is reflected in the higher mill grades reported during the latter stages of mining.

  • Acadian drilled a total of 82 diamond drill holes (12,174m) from 2003-2005. These drill results were incorporated with results of previous surface and underground drilling, as well as results from specific underground sampling and used in the creation of the current resource estimate. The resource estimate was generated using the polygonal method of volume calculation applied to vertical longitudinal sections, with weight-average gold grades over a minimum estimated true width of 1.2m.

  • Drilling by Acadian resulted in the discovery of previously unknown mineralized zones and the potential for additional resources is considered good.

Forest Hill
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Contact

  • Acadian Mining Corporation
  • 10 Morris Drive, Unit 6
  • Dartmouth NS B3B 1K8
  • Telephone 902-444-7779
  • Facsimile 902-444-3296
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