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Buchans Minerals Corporation

Publié le 28 novembre 2007

Royal Roads Drills 7.44 Metres of 273,6 g/t silver, 17,7% Zinc

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Mots clés associés :   Canada | Copper | Zinc |

Trading Symbol: ADA:TSX; C2Z-Frankfurt

News Release No. 31-07

Shares Outstanding: 142,030,407

November 28, 2007

                                                                                                                                               

 

ACADIAN MINING?S SUBSIDIARY, ROYAL ROADS CORP., DRILLS 7.44 METRES OF 273.6 G/T SILVER, 17.7% ZINC, 7.8% LEAD, 1.0% COPPER, 0.96 G/T GOLD

 

Acadian Mining Corporation (ADA:TSX) ("Acadian" or "Corporation") announced today that its 44.42% owned subsidiary, Royal Roads Corp. (RRO:TSX-V) (Royal Roads), is pleased to provide the following additional results from its ongoing 11,000 metre drilling program on the 100% owned Daniels Pond base metal deposit in Central Newfoundland.  Infill drilling on the deposit?s Southwest Lobe continues to confirm continuity and grade of the deposit.  Recent highlights of this drilling include hole DN-07-111 which intersected 26.5% combined base metal mineralization over a true width of 7.44 metres assaying 17.7% zinc, 7.8% lead, 1.0% copper, 273.6 g/t silver and 0.96 g/t gold.  See tables below for drill results.  The complete Royal Roads news release is available at www.royalroadscorp.ca.

 

Table 1 - Results for infill drilling on the Daniels Pond deposit?s Southwest Lobe

 

Drill hole

From (m)

To (m)

Core length (m)

Estimated

true width

(m)*

Zn Pb Cu Combined (%)**

Zn (%)

Pb (%)

Cu (%)

Ag (g/t)

Au (g/t)

DN-07-101

58.05

69.65

11.60

9.50

1.37

1.09

0.25

0.03

9.77

0.08

including

64.55

65.20

0.65

0.53

5.23

3.30

1.79

0.14

24.70

0.19

and

99.63

104.37

4.74

3.51

3.96

2.76

1.02

0.18

53.98

0.19

including

100.25

100.75

0.50

0.37

13.27

8.40

4.00

0.87

270.50

0.21

also

103.05

103.55

0.50

0.37

11.50

9.50

1.71

0.29

83.60

0.21

DN-07-104

80.25

87.23

6.98

5.54

4.32

2.60

1.55

0.17

58.31

0.46

including

84.05

86.77

2.72

2.23

8.22

4.96

2.95

0.31

87.60

0.79

with

85.23

85.73

0.50

0.41

22.06

13.50

8.00

0.56

157.50

1.39

DN-07-105

28.75

30.68

1.93

1.48

1.59

1.18

0.34

0.07

24.24

0.27

DN-07-108

21.54

24.95

3.41

3.09

25.66

16.13

8.40

1.13

270.17

1.71

including

22.75

23.30

0.55

0.50

34.26

22.80

10.00

1.46

236.30

0.85

and

33.20

41.20

8.00

7.52

15.47

9.94

4.96

0.57

190.83

0.59

including

33.20

38.00

4.80

4.51

24.43

15.52

8.04

0.87

306.36

0.83

with

33.70

34.20

0.50

0.47

36.17

24.30

10.60

1.27

352.70

1.02

DN-07-109

41.00

41.50

0.50

0.41

2.54

1.57

0.87

0.10

19.90

0.04

and

83.18

87.75

4.57

4.29

6.79

4.16

2.38

0.25

128.44

0.40

including

85.21

85.76

0.55

0.52

15.14

9.00

5.70

0.44

304.80

0.41

DN-07-111

18.53

28.25

9.72

7.44

26.47

17.70

7.79

0.98

273.58

0.96

including

18.53

22.35

3.82

2.93

30.49

22.05

7.31

1.13

250.56

1.18

with

19.53

20.53

1.00

0.76

46.51

41.20

3.90

1.41

172.95

1.17

also

23.95

28.25

4.30

3.29

32.69

20.39

11.10

1.20

394.67

1.06

including

24.95

25.45

0.50

0.38

47.01

28.20

17.40

1.41

565.10

1.64

and

30.75

33.00

2.25

1.94

2.45

1.68

0.70

0.07

23.02

0.10

including

32.43

33.00

0.57

0.56

5.09

4.00

0.93

0.16

33.60

0.16

 

*Estimated true widths have been measured based on observed contacts (core angles in drill core).

** Combined zinc, lead and copper percentages for each interval added together.

 

Table 2 -          Drilling results for the eastern margin of the Daniels Pond deposit?s Southwest Lobe

Drill hole

From (m)

To (m)

Core length (m)

Estimated

true width

(m)*

Zn Pb Cu Combined (%)**

Zn (%)

Pb (%)

Cu (%)

Ag (g/t)

Au (g/t)

DN-07-097

No significant assays observed

DN-07-098

129.00

130.00

1.00

0.86

2.37

1.39

0.89

0.09

34.55

0.20

DN-07-099

246.35

252.26

5.91

5.24

3.96

2.71

1.01

0.23

52.62

0.78

including

247.85

250.00

2.15

1.90

5.19

4.10

0.91

0.18

37.22

0.18

with

248.89

249.25

0.36

0.32

11.64

10.70

0.42

0.52

21.60

0.16

DN-07-100

134.50

135.57

1.07

0.78

1.96

1.20

0.56

0.20

22.60

0.12

DN-07-103

195.10

195.60

0.50

0.32

0.75

0.72

0.02

0.01

3.08

0.01

DN-07-106

199.56

200.25

0.69

0.60

1.58

1.13

0.29

0.16

34.20

1.06

DN-07-107

235.29

239.69

4.40

2.52

4.08

2.65

1.28

0.15

54.88

0.72

including

235.29

236.00

0.71

0.31

10.17

7.10

2.80

0.27

82.50

1.53

including

239.14

239.69

0.55

0.41

5.97

4.30

1.47

0.20

93.20

1.55

DN-07-110

100.95

102.00

1.05

0.80

1.37

1.17

0.09

0.11

6.80

0.11

and

189.05

190.05

1.00

0.77

6.62

4.00

2.35

0.27

123.15

0.37

including

189.55

190.05

0.50

0.38

7.04

4.40

2.30

0.34

161.00

0.35

DN-07-112

60.80

62.80

2.00

1.53

2.57

1.79

0.71

0.08

85.95

0.88

and

178.35

179.35

1.00

0.79

4.92

3.15

1.64

0.13

43.65

0.27

 

*Estimated true widths have been measured based on observed contacts (core angles in drill core).

** Combined zinc, lead and copper percentages for each interval added together.

 

 

Table 3 - Daniels Pond Deposit ? Deep Exploration Drilling Results

 

Drill hole

From (m)

To (m)

Core length (m)

Estimated

true width

(m)*

Zn-Pb-Cu Combined (%)**

Zn (%)

Pb (%)

Cu (%)

Ag (g/t)

Au (g/t)

DN-07-092A

262.90

268.50

5.60

4.85

1.67

1.23

0.24

0.20

13.87

0.68

and

286.83

295.56

8.73

6.17

4.59

2.92

1.53

0.14

73.49

0.41

including

286.83

290.33

3.50

2.47

7.90

5.27

2.41

0.22

116.81

0.43

also

294.83

295.56

0.73

0.52

9.55

6.60

2.48

0.47

205.50

1.69

DN-07-096

356.32

359.95

3.63

2.86

2.29

1.55

0.65

0.09

24.47

0.36

including

356.76

357.26

0.50

0.40

4.63

3.20

1.25

0.18

47.90

0.33

and

364.62

366.00

1.38

1.19

1.55

1.14

0.28

0.13

8.92

0.46

DN-07-102A

No significant assays.

 

* Estimated true widths have been measured based on observed contacts (core angles in drill core).

**  Combined zinc, lead and copper percentages for each interval.

Results for hole DN-07-092A were previously released by Royal Roads on October 10, 2007 in release #19-07.

 

Management?s Opinion

 

Terry Coughlan, Vice President stated, ?Management is very pleased with the current results.  Daniels Pond continues to demonstrate the potential of the Newfoundland assets.?

Other Results ? Parking Lot Prospect Drilling

 

On August 21, 2007, Royal Roads announced drilling had commenced on the Parking Lot prospect, located approximately 1,500 m northeast of the Daniels Pond deposit.  This prospect was known to consist of copper sulphide stockwork mineralization returning historical channel sample assays from trenched bedrock exposures of up to 1.95% Cu over 3 m, including grab samples assaying up to 20% Cu.  Limited previous drilling of the prospect returned anomalous sulphide mineralization in two zones, including a shallow zone assaying 4.5% Zn over 1.21 m as well as a deeper zone assaying 1.44% Cu over 1.4 m.  Royal Roads has since completed a four-hole, 838 m drill program on the prospect with assay results now available.  The program tested the zone along strike and at shallow depths beneath the bedrock exposure as well as tested discrete gravity anomalies located 400 m southwest, and 300 m northeast, potentially along strike of the prospect.  Results include highlight assays of 1.79% Zn over a core length 1 m believed to be an extension of the shallow zinc zone and a deeper intercept assaying 0.08% Zn and 0.56% Cu over a core length of 3.32 m believed to be correlative with the deeper copper zone and stringer copper mineralization exposed in the trenches.  Drilling of the two discrete gravity anomalies failed to yield outstanding results with highlight assay intervals of 3.1% Zn 0.02% Pb, 0.68% Cu, 3.1 g/t Ag and 0.04 g/t Au over a core length of 0.5 m as well as another intercept deeper in the same hole of 3.2% Zn 0.01% Pb, 0.06% Cu, 0.7 g/t Ag and <0.01 g/t Au.  Both gravity anomalies tested are believed to have been explained by mafic rocks intersected by the drilling. 

 

Sampling Procedure

 

The drill program is being managed by Mercator Geological Services Limited of Dartmouth Nova Scotia under the direction of Peter Webster, P.Geo., (NL). Drill intercepts quoted are core lengths and estimated true widths have also been calculated where possible using observed contacts in drill core. Logging, sampling and assaying procedures are being completed as per Royal Roads QA/QC protocols as described in Royal Roads press release dated February 27, 2007.  All assays were prepared by Eastern Analytical Limited of Springdale, Newfoundland.  Paul Moore, M.Sc., P.Geo., (NL), Royal Road?s Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to Royal Roads? release and has reviewed the contents for accuracy. 

 

Other

 

Terence Coughlan, B.Sc., P.Geo., is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy.

 

About the Corporation

 

Acadian Mining Corporation is a Halifax, Nova Scotia, Canada based mining company which operates a zinc-lead mine (Scotia Mine) at Gays River, Nova Scotia.  The Corporation is focused on exploring and developing gold, zinc-lead, and barite properties in Atlantic Canada.

 

The Scotia Mine operates as an open pit mine and is expected to produce 30,000 tonnes of high grade zinc concentrate and 10,000 tonnes of high grade lead concentrate per year.  Please see News Release No. 16-06, July 17, 2006 for further details.

 

The Corporation is also focused on developing four advanced gold properties, Beaver Dam, Tangier, Forest Hill and Goldenville, which form the core holdings of the Scotia Goldfields project.  All of the four advanced properties host gold resources described in technical reports prepared in compliance with National Instrument 43-101 and are available on www.sedar.com.  A summary of gold resources for Goldenville, Forest Hill and Tangier is provided in News Release No. 01-06, January 5, 2006, under the paragraph titled "About Acadian Gold".  A summary of gold resources for Beaver Dam is provided in News Release No 23-07, July 16, 2007.  The Corporation is bringing a new approach to the development of Nova Scotia gold deposits by pursuing a multiple mine, central processing, managing and servicing strategy.

 

The Corporation holds a 44.42% equity interest in Royal Roads Corp. (?Royal Roads?) (RRO-TSX-V).  Royal Roads? principal asset is a 16,075 hectare (approximately 32 km x 5 km) mineral property known as the Tulks North property which is strategically located in the centre of the world-class Buchans base metal camp in central Newfoundland, Canada.  In addition, Royal Roads holds a 34.05% equity interest in Buchans River Ltd. (?Buchans River?) (BUV?TSX-V), which also holds a highly prospective property portfolio in the Buchans camp.  Acadian?s indirect interest in Buchans River is 15.13%.

 

Royal Roads' Tulks North property is host to the Daniels Pond deposit which was discovered by BP Resources Canada Ltd. in 1989.  Royal Roads reported (see News Release issued November  7, 2006) an inferred resource (Zn cutoff = 2%, S.G. 4.0) of 1.69 million tonnes grading 0.57% copper, 4.40% lead, 8.37% zinc, 196.9 g/t silver and 0.68 g/t gold over an average width of 4.2 metres. 

 

Forward Looking Statement

 

Certain information regarding the Corporation contained herein may constitute forward-looking statements within the meaning of applicable securities laws.  Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact.  Although the Corporation believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.  The Corporation cautions that actual performance will be affected by a number of factors, many of which are beyond the Corporation?s control, and that future events and results may vary substantially from what the Corporation currently foresees. Discussion of the various factors that may affect future results is contained in the Corporation?s 2006 Annual Report which is available at www.sedar.com. The Corporation?s forward-looking statements are expressly qualified in their entirety by this cautionary statement.

 

For additional information on the Corporation?s properties and activities, please visit our web site at www.acadianmining.com.  If you wish to be added to the Corporation?s e-mail or fax distribution list for future news releases and updates, please contact Acadian at phone:  902 444-7779, fax: 902 444-3296, email: mail@acadianmining.com.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

G. William Felderhof, President & CEO                         

or Terry F. Coughlan, Vice President                             

(902) 444-7779   Toll Free: 877-444-7774

mail@acadianmining.com                      

Halifax, Nova Scotia                                                     

 

No regulatory authority has approved or disapproved the contents of this RELEASE.

&NBSP;

Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Buchans Minerals Corporation

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CODE : BMC.V
CUSIP : 11801R108
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Buchan Minerals est une société d’exploration minière de zinc et de plomb basée au Canada.

Buchan Minerals détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont GRANITE LAKE, LONG RANGE, BUCHANS, BURTONS POND, TULKS NORTH, TULKS HILL, DANIELS POND et LUNDBERG au Canada.

Buchan Minerals est cotée au Canada. Sa capitalisation boursière aujourd'hui est 17,5 millions CA$ (16,0 millions US$, 11,3 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 2,90 CA$, et son plus bas niveau récent le 17 juillet 2013 à 0,02 CA$.

Buchan Minerals possède 166 280 000 actions en circulation.

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