Acadian Mining Corporation ADAIF

Acadian Mining commences airborne survey in search

[YeOldGoldNugget]

Acadian Mining commences airborne survey in search for bulk tonnagegold deposits in Nova Scotia

 Trading Symbol: ADA:TSX; C2Z-Frankfurt  

Shares Outstanding: 491,691,616  

  

  https://www.newswire.ca/en/releases/archive/April2010/05/c7713.html
  

HALIFAX, April 5/CNW/ - Acadian Mining Corporation (TSX: ADA) ("Acadian" or the"Company") is pleased to announce that it has commenced a highresolution helicopter airborne magnetic survey totaling 7,300 linekilometers over its large gold claim holdings which total approximately67,000 hectares in the Nova Scotia goldfields. The objective of thesurvey is to identify targets with potential for bulk tonnage golddeposits.

A principal focus of the survey will be the FMS Trend, a 145 kilometerlong, northeasterly trending geological corridor which has beenidentified by Acadian through its extensive exploration efforts in NovaScotia as being prospective for low grade, bulk tonnage gold depositspotentially amenable to surface mining. Four advanced gold projects, twoof which, Beaver Dam and Fifteen Mile Stream are 100% owned by Acadianoccur on the FMS Trend.

At both Beaver Dam and Fifteen Mile Stream, gold mineralization occursover wide intervals and is hosted by both quartz veins and themudstone-siltstone host rocks. An approximate true width drill interceptat Fifteen Mile Stream of 134.51 meters grading 1.88 g/t gold,including 60.63 meters grading 3.16 g/t gold, highlights the bulktonnage potential of these deposits (see news releases of May 28, 2008 and March 4,2010 for more details). The mudstone and siltstone host rocksoften show gold mineralization associated with wispy pyrrhotite whichoccurs in quantities ranging between 1-5%. A photograph showing thisstyle of mineralization at Fifteen Mile Stream is posted on theCompany's website. The pyrrhotite bearing mudstone and siltstone unitthat occurs at the base of the Goldenville Formation, has been named theFifteen Mile Stream Formation, and is an integral part of the FMS Trendas currently defined.

The Company's airborne magnetic survey is designed to identify thesubtle magnetic signatures associated with the pyrrhotite bearingFifteen Mile Stream Formation and coincident structural features whichmay be the loci for economic concentrations of gold.

The airborne survey will be conducted over an approximate 115 kilometerlength of the FMS Trend, which includes Beaver Dam, Fifteen Mile Streamand extensive claim holdings east and west of the Osisko-Orex jointventure at Goldboro. In addition, the survey will include the Tangier, Forest Hill, Lake Catcha, Oldham, Cameron Dam and Killag gold properties. A mapshowing the airborne coverage areas will be posted on the Company'swebsite.

 Management's Opinion  

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Peter Lee, Acting President and CEOstated, "Given that 99% of the Nova Scotia goldfields are covered withoverburden, Acadian's airborne survey should be an effective tool in thesearch for blind gold deposits. The easy discoveries were made byprospectors 100 years ago. The new discoveries are more likely to bemade with the increasingly sophisticated technology such as highresolution magnetics, available to the mining industry today".

 Qualified Person  

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Terry Coughlan (P. Geo.) is a QualifiedPerson as defined in National Instrument 43-101, and has reviewed andapproved the technical contents of this news release.

 About the Corporation  

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Acadian is a Halifax, Nova Scotia, Canada based mining company with fiveadvanced gold projects, all of which host National Instrument 43-101compliant resources. The Company also owns a zinc-lead mine (ScotiaMine) at Gays River, Nova Scotia, which is currently on care andmaintenance. Acadian is actively exploring and developing its gold,zinc-lead, and barite properties in Atlantic Canada.Acadian holds a 29.18% interest in Royal RoadsCorp. (RRO-TSX-V), which is actively exploring in Newfoundland andLabrador with a current focus on the historic Buchans Camp.

 Forward Looking Statement  

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Certain information regarding Acadian contained herein may constituteforward-looking statements within the meaning of applicable securitieslaws. Forward-looking statements may include estimates, plans,expectations, opinions, forecasts, projections, guidance or otherstatements that are not statements of fact. Although Acadian believesthat the expectations reflected in such forward-looking statements arereasonable, it can give no assurance that such expectations will proveto have been correct. Acadian cautions that actual performance will beaffected by a number of factors, many of which are beyond Acadian'scontrol, and that future events and results may vary substantially fromwhat Acadian currently foresees. Discussion of the various factors thatmay affect future results is contained in Acadian's Annual InformationForm dated March 31, 2010, which isavailable at www.sedar.com. Acadian'sforward-looking statements are expressly qualified in their entirety bythis cautionary statement.

 Additional Information  

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For additional information on Acadian's properties and activities,please visit our web site at www.acadianmining.com.

No regulatory authority has approved or disapproved the contents of thisrelease.

For further information: Paul K. Smith, VP Field Operations, Compliance,Permitting, Halifax, Nova Scotia, [phone], Toll Free:877-444-7774, [e-mail]

[mantosman]

A positive development for sure.

[moolamoola]

I can't believe how many IDIOTS are selling their shares at such low prices. This stock is going to go ten fold plus, in the near future. Oh well I'll definitely continue buying what they are selling when I can scrape the MOOLA together!

[markthebanker]

Well I do agree with you that the price of the shares is undervalued. I´m long this stock but i think the 10x increase in the price is very unlikely. I don´t think this company is worth 350million dollars, even before the whole thing blew up last year this company at it peak was worth maybe 200million. I´m estimate but at a 1.36 the previous high there were only 160 million share

[mantosman]

Ounces will probaly grow, 15 Mile Stream is very attractive , if they are successful there they can really increase ounces.I can not believe there were bailed out and to go under again.I feel the mine will be sold and then possible debt financing latere this year or next , but they will also require a higher share price for debt finaicing .They will get that if  drilling at 15 Mile Stream is

[mantosman]

The study will target many areas,  so the potential is certainly there, I really like Beaver Dam as well.