Hecla going ahead on N.S. bet

A decision by Hecla’s Canadian subsidiary, Hecla Mining Co. of Canada, to proceed with development of the Mooseland gold property northeast of Halifax, N.S., could boost the company’s gold production substantially.

Hecla can earn a 60% interest in Acadia Mineral Ventures’ Mooseland property by arranging the financing necessary to bring it to production.

As reported (N.M., Nov 23/87), Hecla is currently viewing Acadia’s exploration data and a decision is expected on Jan 10. Drill indicated reserves to a depth of 750 ft, stand at 675,000 tons grading 0.24 oz gold per ton.

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