Acadian Mining obtains Environmental Assessment Approval for Tangier Gold
Property
Trading Symbol: ADA:TSX; C2Z-Frankfurt
Shares Outstanding: 491,691,616
The bulk of these resources occur immediately east of the Copper Lake fault and are readily accessible through the existing underground development, including the existing ramp to a vertical depth of 145 m and approximately 5,000m of existing underground development. Surface drill results, including an interval of 1.4 m grading 26.57 g/t gold at a vertical depth of only 40 m, (news release
The Tangier Gold Property is situated on a tightly folded, domal, anticlinal structure which is host to approximately 70 gold bearing quartz veins over a width of approximately 200 metres. The Tangier anticline has been traced for approximately 7.3 kilometres on the property. The gold bearing veins are proven to be consistent over strike lengths exceeding 2.5 kilometres as well as down dip. Earlier exploration efforts focused primarily on three veins in the Blueberry Hill area, the Marker, Whin and Twin Veins, and various veins in the Strawberry hill area, 3.2 kilometres to the east. Minimal exploration was conducted in the intervening 2 kilometres.
Management's Opinion --------------------
Will Felderhof, President and CEO, stated, "Obtaining an Environmental Assessment Approval is a major milestone in the development of any gold project and Tangier is no exception. Given the extensive underground development already in place, the project can be brought into production very quickly. The focus now will be to further boost resources, for which we view the potential as high, given the favourable results to date, the large property size, the large number of gold bearing veins, the shallow depths of historic mining and the limited drilling undertaken on the property thus far."
Other -----
Terence F. Coughlan, P. Geo., is a qualified person as defined by National Instrument 43-101 and has reviewed the technical information reported in this news release for accuracy.
About Acadian -------------
Acadian is a
Forward Looking Statement -------------------------
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
Additional Information ----------------------
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 this release.
For further information: G. William Felderhof, President & CEO; Terry F. Coughlan, Vice President, (902) 444-7779, Toll Free: 877-444-7774, [email protected]
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