Acadian Mining Corporation ADAIF

RE: Article on Acadian Gold in the...

[retep6]

Thanks for that, here's the story... Acadian Gold Corp. of Halifax has acquired 52 mineral claims in Cape Breton known as the Lake Ainslie barite-fluorite deposits, which the company says is believed to be the largest barite resource in Atlantic Canada. "Control of the Lake Ainslie barite-fluorite deposits represents another step forward in the growth of Acadian Gold," company president Will Felderhof said Wednesday. "These deposits are strategically located with respect to infrastructure and proximity to tidewater and are an obvious fit for our Atlantic Canada focus." Based on historical information, Acadian said the deposits contain an uncategorized resource of 4.25 million tonnes grading at 34 per cent barite and 17.3 per cent fluorite. Acadian vice-president Terry Coughlin said Wednesday that more resource assessment is required before the claims could be taken to the feasibility stage. But he estimated that at today’s prices for barite, the main component of drilling mud, and fluorite "there’s over $600 million in the ground." Meanwhile, the company said its Scotia Mine zinc and lead project in Gays River near Stewiacke is moving quickly toward operation. Mobile equipment for the startup is on-site and road construction for the open pit has begun. Refurbishment of the ore processing mill is expected to be completed by the end of March and milling is expected to begin by mid-April. The Scotia Mine is expected to produce 30,000 tonnes of high grade zinc concentrate and 10,000 tonnes of high grade lead concentrate per year. Acadian, which also has mineral interests Newfoundland, is developing four gold properties in eastern Nova Scotia as well. ( [e-mail])