Golden River Resources

Goldenville

Goldenvile

The Goldenville property is located approximately northeast of Halifax, the provincial capital of Nova Scotia in Canada. Access to the site is excellent, via Provincial Highway 7 which crosses the east end of the property. Domestic power and telephone services are available at the Goldenville site.

History

The Goldenville Gold District is regarded as one of the most significant historical gold mining districts in Nova Scotia. Total recorded gold production, between 1862 and 1942, when the last mining was recorded, is estimated at about 212,000 ounces from approximately 552,000 tonnes of ore. Gold was first discovered in the district in 1861, and gold was produced predominately from underground operations until the site finally closed in 1942, partly due to manpower problems related to the Second World War.

The next period of exploration activity commenced in 1961 and various small scale activities were undertaken until the property was acquired by Northumberland Mines Limited in 1980. Northumberland (and its related company NovaGold Resources Inc.) undertook extensive drilling programs and rehabilitated a portion of the underground workings to undertake underground sampling, mapping, diamond drilling and bulk sampling programs, but the project was abandoned in 1988 and the claims were allowed to lapse in 1993.  A subsidiary of Acadian, Goldenville Mining Corporation, acquired the property in 2002.

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 Goldenville 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

Mercator Geological Services Ltd. prepared a National Instrument 43-101 compliant resource based in March 2005 based on compiled historic drilling results (142 surface and underground drill holes) and underground sampling results.

NI43-101 Resources (Measured, Indicated & Inferred)

Exploration and future developments

Acadian intend to undertake a re-evaluation of Goldenville, 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