Atlantic's history in Nova Scotia dates back to 2003 when its predecessor company, Diamond Ventures NL acquired an option to earn a controlling interest in the Touquoy Property.
Atlantic's two main development projects are the Touquoy Gold Project, and the Cochrane Hill Gold Project.
Touquoy and Cochrane Hill
The Touquoy Gold Project, which is at an advanced stage of development with all major permits in place, represents an attractive potential open pit mine development:
- Low waste:ore ratio of 2.6:1
- Rock is soft and relatively easy to grind
- Good gravity gold recoveries of over 60%
- Low reagent consumption (0.4 kg/t cyanide) at coarse grind (150 microns)
- Excellent metallurgical recoveries 93%
- Coarse grind permitted (150μm), hence reduced power consumption
- Short residence time (16-24 hours)
- Close to grid power
- Access to excellent infrastructure and services
- Keen local and homecoming workforce
- No on-site accommodation required
- No sovereign risk
The Cochrane Hill Gold Project is at an earlier stage of development, but has a total of approximately 15,200 metres of drilling and a substantial mineral resource established.
Atlantic also operates regional exploration programs throughout the Nova Scotia goldfields in Canada in an area known as the ‘Meguma Terrane’, a sequence of folded Cambro-Ordovician sediments. The Meguma Terrane in Nova Scotia is a goldfield defined by an extraordinarily high concentration of gold occurrences yet it remains relatively unexplored for shale-hosted disseminated gold deposits, the type of gold deposit represented by the Touquoy and Cochrane Hill deposits. Gold mining in the Meguma Terrane has historically focused on narrow, discontinuous gold-bearing quartz veins located on or near the hinge zones of regional anticlines. In contrast, most of the gold mineralization at the Touquoy Gold Project is disseminated throughout grey shales which are largely devoid of quartz veins, although still located on a regional anticlinal axis.
Atlantic currently holds four gold development projects in Nova Scotia, Canada: the Moose River Consolidated Project (MRC Project) comprising the Touquoy and the Beaver Dam gold deposits, the Cochrane Hill gold deposit, and the Fifteen Mile Stream deposit, as highlighted in the map below
The Touquoy gold project is the most advanced with all major permits in place. Beaver Dam is now in the permitting phase following the release of the results of a Feasibility study, while the Cochrane Hill project is now at the feasibility stage following the publishing of a PEA in October 2014, while the Fifteen Mile Stream project is at an earlier stage of development, with a Mineral Resource estimate in place.