Acadian drills 9.5 m of 5.41% Zn plus Pb
2008-02-21 11:18 ET - News Release
Mr. G. William Felderhof reports
ACADIAN MINING INTERSECTS 9.50 METRES OF 5.41% ZINC PLUS LEAD AT ITS GETTY PROPERTY, NOVA SCOTIA
Acadian Mining Corp. has released assay results for 25 additional drill holes, bringing the total released to date to 54 of the 100-hole diamond drilling program on its Getty zinc-lead deposit. Results to date support potential for a bulk-tonnage-open-pit deposit 1,700 metres from the mill at Scotia mine. Highlights include drill hole S1037 that intersected 9.50 metres of 5.41 per cent zinc plus lead, including 3.45 metres of 11.23 per cent zinc plus lead, hole S1031 that intersected 7.25 metres of 5.13 per cent zinc plus lead, hole S1043 that intersected 3.90 metres of 10.48 per cent zinc plus lead and hole S1048 that intersected 12 metres of 4.2 per cent zinc plus lead. The shape of the zinc-lead mineralized carbonate bank structure at Getty is not as yet fully defined and, as such, true widths cannot be calculated with complete confidence. However, true widths are estimated to range between 80 and 100 per cent of the intersection lengths reported in the selected intercepts table.
SELECTED INTERCEPTS -- HOLES S1030 - S1054
Hole From To Interval Zn Pb Zn plus Pb
(m) (m) (m) (grade %) (grade %) (%)
S1030 25.30 33..00 7.70 2.24 0.03 2.27
S1031 88.75 96.00 7.25 3.53 1.60 5.13
Including 88.75 93.00 4.25 5.52 2.24 7.76
Including 88.75 91.00. 2.25 8.21 2.65 10.86
S1032 20.80 27.00 6.20 2.03 0.96 2.99
And 34.00 40.00 6.00 2.16 0.28 2.44
S1033 26.00 59.00 33.00 1.36 1.16 2.52
Including 27.00 36.00 9.00 1.98 1.61 3.59
S1034 114.40 119.00 4.60 2.18 7.09 9.27
Including 115.00 118.00 3.00 2.60 8.40 11.00
S1035 101.00 103.05 2.05 6.24 2.65 8.89
S1037 94.00 103.50 9.50 2.02 3.39 5.41
Including 96.00 103.50 7.50 2.34 4.28 6.62
Including 96.00 99.45 3.45 4.41 6.82 11.23
S1042 53.00 56.65 3.65 2.09 0.95 3.04
S1043 62.50 66.40 3.90 6.21 4.27 10.48
Including 62.50 64.95 2.45 8.21 6.07 14.28
S1044 39.00 49.00 10.00 1.29 0.84 2.13
Including 45.00 47.00 2.00 2.10 1.48 3.58
And 61.00 64.00 3.00 0.70 1.51 2.21
S1045 71.00 73.00 2.00 2.31 0.38 2.69
And 75.00 77.00 2.00 1.66 0.04 1.70
S1046 56.00 63.00 7.00 3.37 1.75 5.12
Including 56.00 59.00 3.00 7.60 2.81 10.41
S1047 67.00 70.00 3.00 0.27 2.46 2.73
S1048 43.00 55.00 12.00 0.90 3.30 4.20
Including 43.00 45.00 2.00 0.23 6.75 6.98
And 72.00 79.35 7.35 0.47 1.14 1.61
S1049 49.50 54.45 4.95 4.63 1.16 5.78
Including 50.00 53.00 3.00 6.30 0.62 6.92
S1050 74.00 84.75 10.75 2.23 2.59 4.82
Including 79.00 81.00 2.00 3.75 6.20 9.95
S1051 34.00 40.00 6.00 1.11 0.01 1.12
S1052 60.00 63.95 3.95 0.79 1.62 2.41
S1053 52.60 67.00 14.40 1.69 1.00 2.69
S1054 95.00 96.00 1.00 2.32 0.86 3.18
And 100.00 105.00 5.00 1.01 1.23 2.24
Holes S1036, S1038, S1039, S1040, S1041 intersected low-grade lead-zinc mineralization near the periphery of the deposit.
The Getty deposit occurs within a west extension of the carbonate bank complex that also hosts the adjacent Scotia mine deposit, located 1,700 metres to the east. Acadian's current diamond drilling program is designed to support a new resource estimate for the Getty deposit that is anticipated to include definition of measured and indicated resources. The deposit currently hosts inferred resources as described in the inferred resource estimate table (see the company's news release in Stockwatch dated Dec. 12, 2007, for details). Drilling on the Getty property to date has focused on the deposit area previously outlined; however, future drilling will include several drill holes to test for possible extensions of the deposit to the west, and also test an interpreted basement high paleotopographic feature to the northwest, which has the potential to be the site of another carbonate reef complex.
NATIONAL INSTRUMENT 43-101 INFERRED RESOURCE ESTIMATE
FOR GETTY ZINC-LEAD DEPOSIT
(effective Dec. 11, 2007)
(*)Zn eq% threshold Tonnes Pb % Zn % (*)Zn eq%
(rounded)
2.00% 4,160,000 1.40% 1.81% 3.21%
2.50% 2,860,000 1.60% 2.06% 3.66%
3.00% 1,970,000 1.82% 2.26% 4.08%
(*) Note: Zn equivalent (Zn eq per cent) equals Zn per cent plus Pb
per cent.
Getty deposit resources described in the tables are in addition to the 5.24 million tonnes of measured and indicated resources grading 4.1 per cent zinc and 2 per cent lead (undiluted), and 1.8 million tonnes of inferred resources grading 3.1 per cent zinc and 1.1 per cent lead at the adjacent Scotia mine. For further information on the Scotia mine deposits, see Acadian's news release in Stockwatch dated July 17, 2006. Potential for additional resources occurs immediately west of the Getty deposit at the Carrolls Farm and Carrolls Corner prospects, where diamond drilling has confirmed continuation of the zinc-lead mineralized carbonate bank system for an additional 2.5 kilometres.
Acadian's Scotia mine presently has a reserve sufficient for approximately five years of open-pit production planned at 700,000 tonnes per year and 2.5 years of underground production planned at 472,500 tonnes per year. Inferred resources at Scotia mine and the Getty deposit, combined with potential to define resources at the nearby Smithfield deposit (see the company's news release in Stockwatch dated Dec. 3, 2007), and Carrolls Farm and Carrolls Corner prospects, provide potential to extend operations at Scotia mine beyond the currently established 7.5-year mine life.
The Getty deposit is subject to a 1-per-cent gross metal royalty to Globex Mining Enterprises Inc. Acadian has an option to purchase 0.5 per cent for $300,000 at its option at any time, and has a first right of refusal on the remaining 0.5 per cent.
Management's opinion
Will Felderhof, president and chief executive officer, stated, "These drill results, along with those previously released on Dec. 20, 2007, are in line with our expectations, and we are confident the balance of the drill program will put sufficient definition on the deposit to support a pit design-to-supply feed to the adjacent Scotia mine milling facility."
Sample protocol
All drilling, core logging and sampling is supervised by Peter C. Webster, PGeo, and pertinent information is recorded by staff geologists into a computerized system. Drill core is stored and sampled in a secure locked facility. One-metre core-sample intervals are typically established over the zone of interest by staff geologists, and sample intervals are recorded. Core is split by sawing and one-half of the core is sampled. Samples are bagged and labelled with prenumbered sample tags, sealed with a metal tie and secured in sealed buckets for shipment by commercial transport to Eastern Analytical Ltd. in Springdale, Nfld. Once received by the lab, samples are logged in a sample-tracking system and received weights are recorded. After crushing, splitting and pulverizing, samples are routinely analyzed by ICP-AES multielement methodology. Samples returning zinc or lead values of 2,200 parts per million or more are reanalyzed using ore-grade assay procedures. The quality control protocol for this program includes analysis of check sample splits of pulp material at ALS Chemex and systematic insertion of standards, blanks and duplicate samples.
We seek Safe Harbor.
