NOVA SCOTIA ATLANTIC GOLD, an Australian company, and ACADIAN MINING of Halifax have struck a deal to treat ores from Atlantic's Touquoy project in the central part of the province at Acadian's Scotia mill at Milford Station, about 40 km from the Touquoy property. The two companies expect to complete the arrangement by the end of March 2009.
Atlantic aims to develop the open pit Touquoy gold project in which it holds a 60% interest through its subsidiary, DDV GOLD LTD. A preliminary scoping study suggested that a new mine could be in operation by late 2009 and send 1.0 million t/y to the Scotia mill.
Atlantic (www.AtlanticGold.com.au) has outlined resources (measured, indicated and inferred) at Touquoy that total 13.2 million tonnes at 1.5 g/t Au or 656,000 oz of contained gold. The company also has an estimate of indicated and inferred resources at the Cochrane Hill property of 10.0 million tonnes at 1.7 g/t Au or 547,000 oz of contained gold.
Acadian (www.AcadianGold.ca) has interests in the Beaver Dam, Fifteen Mile Stream, Forest Hill, Tangier and Goldenville gold properties in Nova Scotia.
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