Tempus acquires gold properties in Nova Scotia

Tempus (TMP-P) has acquired six gold exploration properties in Nova Scotia and closed its prospectus financing. The company has also changed its name to Acadian Gold Corp. and will trade on the TSX Venture Exchange under the symbol agy.

Pursuant to the $864,750 financing, the company issued 4.3 million shares, 2.2 million share-purchase warrants exercisable for 18 months from closing, and 515,850 agents’ warrants. Proceeds will be applied to the Forest Hill property, where 5,000 metres of diamond drilling are planned.

The Forest Hill property was explored by Seabright Resources and Westminer Canada in the mid- to late 1980s. Their work consisted of diamond drilling, shaft-sinking and associated underground development. They also carried out a total of 104,000 tonnes of bulk-sampling, which yielded a recovered grade in excess of 6 grams gold per tonne, sourced from various gold-bearing veins. Mine-calculated grades for the last three months of test-mining ranged from 9.2 to 13.8 grams gold per tonne. The Forest Hill property has been dormant since 1989.

“Acadian Gold believes that a breakthrough new ore model recently developed and successfully applied in the famous Bendigo gold district near Victoria, Australia, is applicable at Forest Hill based on well-documented geological similarities between Bendigo and the Meguma goldfields in Nova Scotia,” says President William Felderhof.

The two major shareholders of Acadian Gold are Votix Corp. and Portree, private companies controlled by Felderhof and Dennis MacLeod, respectively.