Golden River Resources

Tangier

Tangier

The Tangier property is located in Tangier County, Nova Scotia, approximately 85km east of the provincial capital, Halifax. Site access is excellent, via Highway 7 and the site has direct access to the provincial electricity power grid.

History

Gold was first discovered at Tangier in 1860, and total historic gold production from Tangier is estimated to be 29,360 ounces from approximately 58,000 tonnes between 1861 and 1936 and a further 1,659 ounces recovered since 1986 predominately from underground workings.

The most significant recent work on the property prior to Acadian's acquisition of title in March 2003, was carried out by Coxheath Gold Holdings Ltd. and subsequently Tangier Mining Inc. and Tangier Limited Partnership during the periods 1986-1990 and 1994-1999 respectively. Combined programs included completion of 172 surface and underground drill holes, approximately 3,300 metres of underground drifting and raising and 75 metres of surface trenching. Coxheath Gold Holdings Ltd. completed bulk sampling and on-site milling of 21,800 tonnes of mixed low and higher grade material from development headings and stopes, plus 1,513 tonnes of higher grade stope material during this period and reported a reconciled gold grade of 2.43 g/t for the combined tonnage. The 1,513 tonnes of stope material included in this total was assigned a 19.9g/t gold grade after milling, and gold recovery of 89% by gravity concentration methods was reported.

Geology

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

Mercator Geological Services Ltd. compiled and interpreted results from 138 past surface and underground diamond drill holes plus the results of specific past underground sampling programs for use in developing a mineral resource estimate for the Tangier property.

NI43-101 Resources (Measured, Indicated & Inferred)

Exploration and future developments

Acadian intend to undertake a re-evaluation of Tangier, 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.

Acadian have also indentified two locations on the Tangier lease that have the potential to host near surface bulk mineable gold mineralisation. A limited drill program of 3-4 holes at each location (total of 1,000 to 2,000m) has been planned.

Limited sampling of surface tailings was undertaken in 1999, with two samples, weighing approximately 4kg and 5kg taken. The samples returned assay results of 4.5g/t and 12.8g/t gold respectively. Acadian plan to undertake a more representative sampling campaign to better understand the tonnage and grade of the historic tailings present at Tangier.

• 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