Acadian Mining Corporation ADAIF

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https://thechronicleherald.ca/Business/1177336.html
Mining firm’s search for gold expands

By BILL POWER Business Reporter
Thu. Apr 15 - 4:55 AM
Acadian Mining Corp. will ramp up gold exploration at its Fifteen Mile Stream site in eastern Nova Scotia after obtaining impressive preliminary results.
"We feel (that) Fifteen Mile Stream has some tremendous potential," Paul K. Smith, Acadian Mining’s vice-president of field operations, said in an interview Wednesday.
The Halifax company has already identified a 200,000-ounce resource at the site, and Smith said an upcoming round of aggressive exploration should push that estimate up dramatically.
An aerial survey is underway and extensive summer exploratory drilling is planned.
Smith said preliminary estimates indicate there are at least 1.2 million ounces of gold at the site.
"This can combine with our nearby Beaver Dam exploration results to provide us with a total resource of three million ounces," Smith said.
Acadian also said Wednesday it has concluded an agreement with MacGregor Properties Ltd. for access and leasing options for an open-pit mine at Fifteen Mile Stream.
But actual mining will not begin any time soon.
"Even if it is determined the resource can support a mine, there would be many regulatory approvals to obtain," Smith said. "It is a process that will unfold over a number of years."
A diamond-drilling program is expected to begin next month or in June.
"The gold mineralization at Fifteen Mile Stream occurs as both coarse, nuggety gold in quartz veins and as disseminated to nuggety gold in mudstone-siltstone host rocks," the mining company said in a news release.
Peter Lee, acting president and chief executive officer of Acadian, said the company is looking forward to starting drilling in multiple target areas identified at Fifteen Mile Stream.
"Success at Fifteen Mile Stream would be a very positive development for Acadian, given the synergies with the company’s nearby bulk-tonnage gold deposit at Beaver Dam," he said in a release.
Fifteen Mile Stream is just under 100 kilometres northeast of Halifax.