Golden River Resources

Forest Hill

Forest Hill

The Forest Hill property is located approximately 150km northeast of Halifax, the provincial capital of Nova Scotia in Canada. Access to the site is excellent and the regional power grid crosses the site.

History

Gold bearing quartz boulders were first discovered at Forest Hill in 1893 and limited mining began in 1895.  From 1895 to 1916, intermittent mining and milling were carried out on the site by seven different operators. Mine production from the area up to 1916 was estimated to be 26,792 ounces of gold from approximately 56,000 tonnes of gold bearing quartz veins predominately sourced from underground workings.

Seabright Resources Inc. and Westminer Canada Ltd. carried out the most significant recent work on the property prior to Acadian's acquisition of title in 2002, during the period 1982 through 1989. This included sinking of the vertical, 230-meter deep Teasdale shaft and milling of 105,143 tonnes of bulk sample and development material from test mining of various veins carried out on the 155-meter and 200 meter working levels. Approximately 10 kilometres of drifting, crosscutting and raising were completed during this period, with bulk sample material being trucked 160 kilometres for processing at the Gays River Zn-Pb mine site, also owned by the operators at that time. Bulk samples processed during this period included both low grade material from development headings as well as higher grade material from test stopes, the combination of which returned a reconciled gold head grade of 6.39g/t for the 105,143 tonnes milled

Geology

Similar to the Tangier deposit, gold mineralisation occurs as coarse flakes and nuggets within strata bound quartz veins that generally display strong continuity along strike and down dip, and also along the hanging wall margins of slate beds in contact with quartz veins. Based on these features, gold bearing quartz veins present on the Tangier property are considered members of the 'turbidite hosted, mesothermal lode gold' class of mineral deposits, which include the world famous quartz vein gold deposits of the Bendigo Goldfield of Victoria, Australia. The Bendigo Goldfield has produced some 22 million ounces of gold over a century of mining and multiple repetitions of gold bearing vein systems had been mined to a 1,500 metre vertical depth range.

Resources and Reserves

Since acquiring the property in 2002, Acadian have undertaken data compilation, site surveying and two drilling programmes (82 diamond drill holes totalling 12,272 metres) have been completed. In September 2005, Mercator Geological Services Ltd. prepared a National Instrument 43-101 compliant resource based on compiled historic drilling results, the drilling undertaken by Acadian and the results of the previously reported underground sampling, bulk sample mining and milling.

NI43-101 Resources (Measured, Indicated & Inferred)

Exploration and future developments

Acadian intend to undertake a re-evaluation of Forest Hill, capturing all historic data (drilling, underground sampling) into a three dimensional modelling package to better evaluate the distribution of the mineralisation. Drill target delineation will be the direct outcome of this work.

• 19 March 2012 Annual Financial Statements for the year ended June 30, 2011 > Read more

• 16 January 2012 Final Results from Acadian's 2011 Fifteen Mile Stream Drill Program > Read more

• 21 December 2011 Acadian Mining Corp. Joins OTCQX > Read more

• 15 December 2011 First Drill Results From The Hudson Zone at Acadian's Fifteen Mile Stream Project Return Wide Mineralized Intervals > Read more

• 5 December 2011 Drill Results From Acadian's Fifteen Mile Stream Project Continue to Expand Size of Mineralized Area > Read more

• 21 November 2011 Acadian Mining Corporation 3rd Quarter Management Discussion & Analysis > Read more

• 21 November 2011 Acadian Mining Corporation 3rd Quarter Financial Statement > Read more

• 21 November 2011 Acadians Regional Till Survey Identifies Several New Gold Anomalies on Prospective FMS Trend in Nova Scotia > Read more

• 13 October 2011 Acadian's Fifteen Mile Stream Project Continues to Deliver Impressive Results > Read more

• 19 September 2011 First Drill Results From Acadian's Fifteen Mile Stream Project Return 2.81 g/T over 72.9 Metres > Read more