Consulting firm Mercator Geological Services estimates an indicated resource of 294,000 tonnes grading 5.5 grams gold per tonne, based on a 1-gram cutoff grade. In addition, 899,000 tonnes grading 5.8 grams per tonne are inferred.
Situated on the southern coast, about 75 km east of Halifax, Tangier was test-mined in the late 1980s by Coxheath Gold Holdings but did not produce commercially. The gold zones occur in a 300-metre-wide corridor along the northeast-trending axis of an anticline that runs for just over 7 km across the property.
The indicated resource is in the Blueberry Hill area, in the western part of the property, where Acadian has done both drilling and underground sampling. The inferred resource is in the Blueberry Hill zone and on the Strawberry Hill and Mooseland East zones, about 700 metres to the east.
Acadian had already received a resource calculation for the Forest Hill project, in Guysborough Cty., about 40 km southeast of Antigonish. Forest Hill was also the subject of underground bulk sampling and development in the 1980s. The recent estimate refers to 792,000 tonnes grading 11.8 grams gold per tonne in the inferred category, based, again, on a 1-gram cutoff. Cutting high-grade results to a maximum of 50 grams per tonne brings the average grade down to 9.3 grams per tonne.
Be the first to comment on "Acadian Gold pins estimate on Tangier (October 18, 2004)"