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Acadian Mining Corporation ADAIF



GREY:ADAIF - Post by User

Post by ja_prufrockon Jan 21, 2010 2:53pm
684 Views
Post# 16704941

FYI in case you missed it: NS Au mining

FYI in case you missed it: NS Au mining

Globex samples 13.9 g/t Au at newly staked N.S. claims

2010-01-20 13:58 ET - News Release

Mr. Jack Stoch reports

NEW GOLD DISCOVERY: GLOBEX ACQUIRES LARGE NOVA SCOTIA LAND PACKAGE

Globex Mining Enterprises Inc. has acquired 189 claims by staking in Lunenburg county, Nova Scotia.

The claims were staked as a result of the discovery of a series of large, angular, quartz-veined boulders, which assayed 13.9 grams per tonne Au (gold), 5.73 g/t Au and 3.05 g/t Au in grab samples.

Based upon a limited amount of reconnaissance mapping, it was decided that a thin layer of overburden near the boulders should be stripped. The stripping revealed a silicified and quartz-impregnated horizon, possibly six metres in width, with disseminated blebs, and veinlets of arsenopyrite and disseminated pyrite throughout. Approximately seven metres away, another more narrow quartz-bearing horizon was revealed.

Thirteen in situ grab samples were taken across the larger mineralized horizon (six metres) with the assay results shown in the table.

                 IN SITU GRAB SAMPLESSample No.      Au (g/t)    Sample No.    Au (g/t)284788           134 ppb        284795        1.30284789              3.77        284796     227 ppb284790              2.81        284797        3.57284791              5.97        284798        1.30284792              3.74        284799        1.75284793              1.41        284800        1.43284794              6.34

Grab samples are selective by nature and are unlikely to be representative of average grades. Although, in this case, due to the nature of the occurrence, the grab samples were not selective.

Based upon the geological environment and assay results, it was decided to acquire the entire package of rock units that contain the gold showing. This has resulted in the company acquiring 189 claims covering an area of 3,058 hectares (7,556 acres).

One grab sample was also taken from the narrower quartz-bearing horizon, which assayed 4.87 g/t Au, and a grab sample several metres away, in a different rock unit, assayed 1.34 g/t Au.

All in all, the company is quite excited by this new find, which, although in the Meguma formation, is different from the typical Meguma gold deposit, in that the mineralized gold-bearing zone is a wide quartz breccia within a silicified quartzite, rather than an individual quartz vein with coarse gold. Although the initial trenching has produced significant gold values over a wide width, the company is not convinced that this is the source of the higher-grade, large, angular, gold-bearing boulders that created the company's initial interest in this area. Much more work is clearly warranted.

Delivery and sample preparation

All samples were delivered to Expert Laboratories Inc., located at 127 Boulevard Industriel, Rouyn-Noranda, Que. The laboratory conducted all aspects of the sample preparation. Samples were dried and crushed to pass a minus-100 mesh screen. A 300-gram subsample was taken for pulverization to a nominal minus-200 mesh with the remaining crushed rejects being retained.

Gold assaying

A 29.166-gram subsample of this pulp (one assay-ton) was taken and was fused following the standard procedures used in a fire assay method. The gold content of all samples was determined using atomic absorption spectroscopy (method code: Au FA-GEO, lower detection limit five parts per billion). Any samples found to contain greater than one g/t Au were subjected to a reassay, whereby the gold content was determined using a gravimetric fire assay method.

This press release was written by Jack Stoch, PGeo, president and chief executive officer of Globex, in his capacity as a qualified person (QP) under NI 43-101.

We seek Safe Harbor.

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