Acadia drilling Mooseland bet

So far, Acadia Mineral Ventures has lived up to the promises the company made when its shares were listed in Toronto last December.

The company has raised $1.4 million and has two drills operating on one of its more promising properties — the Mooseland property in Halifax Cty., 45 miles east of Halifax.

Assay results from the first two holes put down on this project returned high-grade values of 10.53 oz gold per ton and 0.72 oz over narrow widths of 4.99 ft and 5.02 ft respectively. Core from 14 other holes, all drilled along a strike length of 2,000 ft to a maximum vertical depth of about 600 ft, are out for assay.

Also, some 3,000 ft of drilling has also been completed on the company’s Renfrew property. Assays are not yet available.

Acadia is negotiating a $4-million flow-through financing for further work this year.