Trading Symbol: ADA: TSX; ADAIF: OTCQX News Release No.
01-12
January 16, 2012
Highlights of the 2011 Drill Program:
• The Fifteen Mile Stream drill program included 29 holes for
a total of 3,732 metres. The first 20 drill holes targeted
the Main Zone; one hole was an exploration hole north-east of
the Main Zone; and eight holes were drilled at the Hudson
Zone, located approximately 700 metres to the west.
• At a 0.70 g/t cutoff, the Main Zone deposit hosts an
inferred resource of 202,000 ounces of gold (3,796,650 tonnes
grading 1.66 g/t gold) based on drilling completed in the
1980's (see "Technical Report and Resource Estimate on
the Fifteen Mile Stream Gold Property, Halifax County, Nova
Scotia", May 27, 2008). No gold resource has yet been
quantified on other areas of the project.
• The 2011 drilling program at the Main Zone was designed to
identify additional mineralization in untested areas of the
projected mineralized stratigraphy outside the boundaries of
the existing resource. These objectives were realized (see
news releases dated Sept. 19, 2011 and Oct. 13, 2011 where
the following intercepts were reported:
2.03 g/T over 106.8 metres in drill hole FS11-110, and 1.63
g/T over 115.3 metres in drill hole FS11-116), and it is
anticipated that this drilling will result in a significant
increase to the current resource estimate.
• The mineralized stratigraphy found in the Main Zone has
been confirmed by the current drilling to extend to the
Hudson Zone, approximately 700 metres to the west.
• Results from the Hudson Zone confirm the presence of wide
mineralized intervals with similar grades as those
encountered in the Main Zone, indicating the potential to
define an initial resource in this area.
• Mineralized intervals at the Main and Hudson Zones are
characterized by coarse free gold in quartz veins and as
disseminated free gold in altered mudstone-siltstone host
rocks, with significant widths of continuous mineralization
that support potential bulk mineable open pit resources.
• The mineralized stratigraphy is folded and the true
(stratigraphic) thickness varies down the hole depending on
the location within the folded stratigraphy.
• An extensive strike length measuring over 3 kilometres has
been identified as having potential to host mineralization in
the immediate Fifteen Mile Stream area; the current drill
program tested only a small portion of this prospective
region.
Planning the 2012 Work Program:
• The results of the 2011 drilling program are currently
being evaluated. Following this, an updated resource estimate
is planned for the Main Zone, and it is anticipated that an
initial resource estimate will also be completed for the
Hudson Zone.
• Proposed work in 2012 includes a comprehensive drilling
program that would consist of several thousand metres of
infill and step-out drilling in the Main and Hudson Zones,
focusing on;
1) Improving the classification of mineralization to the
indicated status, and thus enable scoping and feasibility
studies to be conducted.
2) Expanding the known boundaries of mineralized stratigraphy
in untested areas and testing areas of potential
mineralization displaced by faults.
3) Testing new targets and continuing to explore the
extensive area identified as having potential to host
mineralization.
• Acadian controls an extensive land position west and east
of the Fifteen Mile Stream project area, including its Beaver
Dam gold project, located ~18 kilometres to the west. This
vast area will continue to be explored during future
exploration campaigns.
• Conceptual plans include assessing the possibility of both
projects (Fifteen Mile Stream and Beaver Dam)
supplying feed for a common gold processing facility.
Results for the final six holes of the 2011 drill program are
presented in Table 1 below. The results for drill hole
FS11-
125 from the Main Zone are consistent with previous drilling
in that area, indicating a thick mineralized interval.
Results for the drill holes in the Hudson Zone show
mineralized intervals and local mineralized veins with
visible gold indicating that drilling intersected the
mineralized system. Results for eight drill holes (three
drilled in 2011 and five drilled in 1985) located immediately
east of those reported here (see press release dated Dec. 15,
2011) define an auriferous zone over a strike length of
greater than 100 metres and indicate the strong potential to
define resources in the Hudson Zone. Based on an abrupt
change in stratigraphy, the mineralized zone occurring
immediately east of the holes reported here appears to be
displaced by a fault. The location of the Hudson Zone west of
this fault is yet to be determined, and will be assessed
further during future drilling campaigns.
Table 1: Results for Drill Holes FS11-125, and FS11-134
through FS11-138
Drill Hole | From (m) | To (m) | Interval (m)* | Gold Grade (g/T) |
FS11-125 | 6.20 | 7.50 | 1.30 | 0.03 |
7.50 | 45.53 | 38.03 | 0.42 | |
45.53 | 91.50 | 45.97 | 0.89 | |
including | 45.53 | 77.55 | 32.02 | 0.97 |
91.50 | 108.70 | 17.20 | 0.33 | |
108.70 | 121.50 | 12.80 | 0.03 | |
121.50 | 151.50 | 30.00 | 0.31 | |
151.50 | 154.50 | 3.00 | 0.03 | |
composite | 7.50 | 151.50 | 144.00 | 0.50 |
FS11-134 | 7.80 | 9.75 | 1.95 | 0.05 |
9.75 | 21.65 | 11.90 | 0.50 | |
21.65 | 50.10 | 28.45 | 0.04 | |
50.10 | 65.90 | 15.80 | 1.02 | |
including | 50.10 | 50.40 | 0.30 | 28.20 |
65.90 | 76.00 | 10.10 | 0.04 | |
76.00 | 104.50 | 28.50 | 0.38 | |
104.50 | 151.00 | 46.50 | 0.04 | |
composite | 9.75 | 104.50 | 94.75 | 0.37 |
FS11-135 | 19.25 | 35.70 | 16.45 | 0.03 |
35.70 | 53.35 | 17.65 | 0.15 | |
53.35 | 101.50 | 48.15 | 0.03 | |
FS11-136 | 22.20 | 58.95 | 36.75 | 0.03 |
58.95 | 65.50 | 6.55 | 0.92 | |
65.50 | 83.82 | 18.32 | 0.03 | |
83.82 | 109.00 | 25.18 | 0.66 | |
109.00 | 127.00 | 18.00 | 0.06 | |
127.00 | 134.50 | 7.50 | 0.44 | |
134.50 | 151.00 | 16.50 | 0.03 | |
FS11-137 | 27.20 | 33.50 | 6.30 | 0.37 |
33.50 | 52.80 | 19.30 | 0.05 | |
52.80 | 53.10 | 0.30 | 6.06 | |
53.10 | 93.25 | 40.15 | 0.03 | |
93.25 | 100.00 | 6.75 | 0.35 | |
100.00 | 101.50 | 1.50 | 0.03 | |
FS11-138 | 29.00 | 75.50 | 46.50 | 0.03 |
75.50 | 90.50 | 15.00 | 0.47 | |
90.50 | 123.50 | 33.00 | 0.03 | |
123.50 | 152.50 | 29.00 | 0.21 |
* Due to the fact that the drill holes intersected folded mineralized stratigraphy, the true width of the intervals varies within a drill hole. Refer to cross sections and a plan map on Acadian's website for further information.
Drill hole descriptions: Drill hole FS11-125 is located on section 13400 and was drilled below hole FS11-115. This hole intersected the mineralized stratigraphy in the hinge area and the south limb of the fold. Hole FS11-134 is located on section 12350 and was drilled below hole FS11-133. It intersected the mineralized stratigraphy on the north limb and hinge zone of the fold. Holes FS11-135 and 136 are located on section 12300. Hole FS11-135 intersected the mineralized stratigraphy in the hinge of the fold, whereas hole FS11-136, drilled below FS11-135 appears to have intersected the footwall of the mineralized stratigraphy. Holes FS11-137 and FS11-138 are located on section 12250, and both holes intersected the hinge of the fold, which is weakly mineralized is the area of the drill holes.
Reporting ProtocolsFor the purpose of reporting, grades used to calculate composites for the current drill program are capped at 100 g/T gold. This cap grade was arbitrarily chosen and will be used for this drill program until all assays are completed and geostatistics can be used to establish an appropriate top cap grade. In order to properly disclose grades which may bias composites, any sample which returns >20.0 g/T is reported separately below the interval which contains it. Voids reflecting underground workings were assigned a zero grade.
Analytical techniques and sampling protocols
All samples from the current program have been prepared and
assayed using the Screen Fire Assay Method (Screen Metallics
Gold, Double Minus) at ALS Chemex. General details of the
Screen Fire Assay Method can be found on the ALS Chemex
website and the Acadian website; however we note that in
contrast to the usual 1000 g sample, a full metallic screen
of the entire pulverized sample was performed for the Acadian
samples. Additional details on sampling protocols, including
QA/QC, are also available on the Acadian website. (Refer to
Responsibilities section under the Corporate Tab).
Qualified Person
Richard Horne, M.Sc., P.Geo., Chief Geologist of Acadian, is
a Qualified Person as that term is defined in National
Instrument 43-101 and has reviewed and approved the technical
information contained in this news release.
Certain information regarding Acadian contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance, or other statements that are not statements of fact. Although Acadian believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Acadian cautions that actual performance will be affected by a number of factors, many of which are beyond Acadian's control, and that future events and results may vary substantially from what Acadian currently foresees. Discussion of the various factors that may affect future results is contained in Acadian's Annual Information Form dated March 31, 2011, which is available at www.SEDAR.com. Acadian's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
About the Corporation
Acadian is a Halifax, Nova Scotia, Canada based company with
five advanced gold projects, all of which host National
Instrument 43-101 compliant resources. The Corporation also
owns barite properties on Cape Breton Island, Nova Scotia.
Acadian's primary focus is centered on exploration and
development of its core gold deposits in Atlantic Canada,
namely the Fifteen Mile Stream and Beaver Dam Projects.
For additional information on Acadian's properties and
activities, please visit our web site at:
www.acadianmining.com. FOR FURTHER INFORMATION, PLEASE
CONTACT:
Grant Ewing, President and Chief Executive Officer
(902) 444-7779 or Toll Free: (877) 444-7774
mail@acadianmining.com
Halifax, Nova Scotia
No regulatory authority has approved or disapproved the
contents of this news release.
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