Acadian Gold: 1mn+ Deposit approaching Mining

t.ADA Acadian Gold. c$0.19 36.8M $5.94M $0.14-$0.48 1mn oz.Reso : 1395350
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Acadian Gold Corporation (ADA-TSX)
CHART with Volume


ZINC is flying


Acadian Gold is a gold exploration company focused on developing 4 advanced gold projects as well as 39 others in the Nova Scotia goldfields in Canada. The Company is presently concentrating on developing 4 advanced gold properties, all of which are 100% controlled:
Beaver Dam, Forest Hill, Tangier, and Goldenville.

Each of these 4 properties hosts gold resources described in technical reports prepared in compliance with National Instrument 43-101 and available on www.sedar.com. As at January 5, 2005 total measured and indicated resources stand at 527,838 ounces gold and total inferred resources stand at 826,670 ounces gold. These resources reflect a 3.5 g/t gold cut-off over 1.2 metres for Forest Hill, Goldenville and Tangier, and 0.3 g/t gold cut-off over 3.0 metres for resources to 200 metres below surface and 1.0 g/t gold over 3 metres for resources below 200 metres at Beaver Dam.

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Acadian Gold to acquire HudBay Minerals' ScoZinc
2005-12-16 16:33 ET - News Release

Mr. G. William Felderhof reports

ACADIAN GOLD SIGNS LETTER OF INTENT WITH HUDBAY MINERALS TO ACQUIRE 100% OF SCOZINC LIMITED SCOZINC'S PRINCIPAL ASSETS INCLUDE A MODERN MILLING FACILITY AND ZINC/LEAD DEPOSITS IN NOVA SCOTIA

Acadian Gold Corp. has entered into a letter of intent with HudBay Minerals Inc. to acquire 100 per cent of ScoZinc Ltd. for $7.5-million. ScoZinc's principal assets are a modern mill facility (Scotia mill) and zinc/lead deposits located at Gays River, N.S.

The Scotia mill, which was built by Esso Resources, is strategically located approximately 50 kilometres west of Acadian Gold's Beaver Dam gold project, and within reasonable trucking distances from Acadian Gold's other principal gold projects, Forest Hill, Goldenville and Tangier. The Scotia mill was designed to treat 1,500 tonnes per day of base metal ores.

Will Felderhof, president and chief executive officer, stated, "The acquisition of ScoZinc should be a major milestone for Acadian Gold as it will accelerate and transform the potential for Acadian Gold to become a producer in the very near future."

The completion of the purchase transaction with HudBay is scheduled to occur on or before May 5, 2006, and is subject to the satisfaction of certain conditions, including the provision of certain cash deposits, board approvals, the purchaser completing satisfactory financing agreements, due diligence, the entering into of a definitive sale and purchase agreement, and receipt of all necessary regulatory approvals.


SUMMARY OF GOLD RESOURCES

Property Tonnes Grade
name and cut/ Au (g/t)
resource grade
category threshold

Forest
Hill 3.5g/t/1.2 m


Indicated 225,000 24.02
Inferred 383,000 12.42
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Tangier 3.5 g/t/1.2 m


Indicated 134,000 9.67
Inferred 271,000 15.09
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Beaver 0.3 g/t/3 m
Dam 1.0 g/t/3 m

Measured
& indicated 1,329,000 2.38
Inferred 3,808,000 2.73
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Goldenville 3.5 g/t/1.2 m


Indicated 62,554 16.62
Inferred 384,596 18.78
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SUMMARY OF GOLD RESOURCES

Gold ounces uncut
Property
name and Measured
resource and
category indicated Inferred

Forest Hill 173,778 152,954

Tangier 41,665 130,323

Beaver Dam 101,750 334,271

Goldenville 33,429 232,242
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Totals 350,622 849,790
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Acadian Gold is bringing a new approach to the development of Nova Scotia gold deposits by pursuing a multiple mine-central processing, managing and servicing strategy.

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LINKS:
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