Aguila American Samples 33.9 Grams Gold Over One Meter in Artisanal Workings, Contracts More Core Drilling Services Ltd.
May 02 2012 - 9:00AM
Marketwired Canada
Aguila American Gold Ltd. ("Aguila" or the "Company") (TSX VENTURE:AGL) - Mr.
John Huguet is pleased to announce the Company has completed a trenching,
geochemical sampling and mapping program covering an extensive zone of
alteration and the sampling of 3 artesanal mine workings located along the
strike of the mineralized Ferrobamba limestone contact.
In addition, the Company has engaged More Core Diamond Drilling Services Ltd. (
"More Core") of Stewart, British Columbia, Canada to perform 7000 meters of core
diamond drilling at its wholly-owned Angostura Gold project, 22 kilometres west
of Xstrata's US$4.2 billion Las Bambas copper project.
The Company selected More Core for its extensive experience in core drilling on
very steep terrain with mid-sized, man portable, equipment, capable of
delivering a larger diameter drill core product while meeting the Company's
negotiated mandate of an absolute minimum amount of surface disturbance. More
Core is expecting to ship all necessary equipment, which is new and expressly
modified to meet the Company's criteria, from Vancouver, BC, next week. The
equipment is also readily convertible for underground core drilling and
available to the Company as it advances towards potential resource definition
depending results from this initial surface core drilling campaign.
Aquila previously reported sampling from Zones 1 and 2 in the main oxide gold
area. This release includes results from Zone 2 as well, the Feliciano Bedia
workings, the working from Pit E which is 900 metres east north east of Zone 2
and from 3 workings located 600 metres west southwest of Zone 2 on the west side
of the Angostura River within the Company's Angostura Primera concession.
At the Feliciano Bedia workings, sampling returned highs of up to 33.9
grams/tonne Au over 1 metre with a weighted average of 11.4 grams/tonne Au over
9.2 meters of selective channel sampling spaced at various intervals along a
working 29 metres in length appearing to be open above, below and to the east,
when sampled in December of 2011, and generally following an east-west trending
structure in the Ferrobamba-Formation (recrystallized limestone). The hanging
and footwalls, where exposed, consist of recrystallized limestone with variable
amounts of oxidized sulphides. The tunnel was sampled near the working face from
a channel, chiselled across the roof of the tunnel. The first sample was taken
at a point 28 metres from the mouth, then at 24.5 metres, 21 metres, 16 metres
and at 12 metres from the mouth. Results are listed in Table 1 below.
----------------------------------------------------------------------------
Loc-
ation Ele-
Mine Inter- ment Au Ag Cu Pb Zn Mn Ba
Working val Width Sample Unit ppm ppm ppm ppm ppm % ppm
----------------------------------------------------------------------------
MW of 0.00 - 1.00 m 2601 11.60 4.0 40 less 229 greater 1477
Felic- 1.00 m than 5 than 1
iano
Bedia
(28
m)
----------------------------------------------------------------------------
MW of 1.00 - 1.00 m 2602 33.90 4.9 60 less 288 greater 825
Felic- 2.00 m than 5 than 1
iano
Bedia
(28
m)
----------------------------------------------------------------------------
MW of 0.00 - 1.00 m 2603 5.78 7.7 122 less 435 greater 2705
Felic- 1.00 m than 5 than 1
iano
Bedia
(24.5
m)
----------------------------------------------------------------------------
MW of 1.00 - 0.50 m 2604 9.50 7.2 114 11 583 greater 662
Felic- 1.50 m than 1
iano
Bedia
(24.5
m)
----------------------------------------------------------------------------
MW of 0.00 - 1.00 m 2605 3.59 3.7 36 less 211 greater 889
Felic- 1.00 m than 5 than 1
iano
Bedia
(21
m)
----------------------------------------------------------------------------
MW of 1.00 - 1.00 m 2606 12.50 3.3 37 less 125 0.9 649
Felic- 2.00 m than 5
iano
Bedia
(21
m)
----------------------------------------------------------------------------
MW of 0.00 - 1.00 m 2607 5.85 3.0 64 less 244 greater 644
Felic- 1.00 m than 5 than 1
iano
Bedia
(16
m)
----------------------------------------------------------------------------
MW of 1.00 - 1.10 m 2608 13.10 3.8 71 less 269 greater 375
Felic- 2.10 m than 5 than 1
iano
Bedia
(16
m)
----------------------------------------------------------------------------
MW of 0.00 - 0.80 m 2609 4.81 2.1 22 less 83 greater 515
Felic- 0.80 m than 5 than 1
iano
Bedia
(12
m)
----------------------------------------------------------------------------
MW of 0.80 - 0.80 m 2610 11.00 3.0 43 less 176 greater 611
Felic- 1.60 m than 5 than 1
iano
Bedia
(12
m)
----------------------------------------------------------------------------
Weight- 11.40 4.2 67 less 253 greater 935
ed than 5 than 1
Aver-
age
----------------------------------------------------------------------------
The second mine working, called Pit E by Jaramillo(i) in his 2006 report (V.A.
Jaramillo: The Angostura Property Technical Report, 2006, 70 pp.), reported 3
entrances and samples from this zone. The 2 accessible parts of Pit E were
sampled by chiselled channels and cut channel sampling methods yielding silver
assays as high as 589 grams/tonne over 1 metre with the weighted average of 242
grams/tonne over 14.4 metres of selective channel sampling, while noting that
Pit E is some 900 metres east and 400 metres higher in elevation then the
Feliciano Bedia working and in a separate zone of a potentially, very large,
mineralized system. Results are listed in Table 2 below.
----------------------------------------------------------------------------
Ele-
Loc- Inter- ment Au Ag Cu Pb Zn Mn Ba
ation val Width Sample Unit ppm ppm % % % % ppm
----------------------------------------------------------------------------
Labor 1 0.00 - 1.00 m 2431 0.60 142.9 0.39% 0.48% 0.32% 0.38% 367
(lower 1.00 m
level)
----------------------------------------------------------------------------
Labor 1 0.00 - 1.00 m dupli- 0.73 91.4 0.30% 0.23% 0.27% 0.48% 558
(lower 1.00 m cate
level)
----------------------------------------------------------------------------
Labor 1 1.00 - 1.00 m 2433 0.25 61.9 0.44% 0.52% 0.27% 0.45% 1289
(lower 2.00 m
level)
----------------------------------------------------------------------------
Labor 1 2.00 - 1.00 m 2435 0.27 135.9 1.27% 4.52% 1.00% 2.15% 177
(lower 3.00 m
level)
----------------------------------------------------------------------------
Labor 1 3.00 - 1.00 m 2436 1.00 287.0 1.42% 6.74% 1.67% 1.49% 279
(lower 4.00 m
level)
----------------------------------------------------------------------------
Labor 1 4.00 - 1.00 m 2437 0.19 50.2 0.76% 1.08% 0.51% 0.39% 1815
(lower 5.00 m
level)
----------------------------------------------------------------------------
Labor 1 5.00 - 1.00 m 2439 0.13 92.1 0.48% 1.42% 0.42% 0.26% 4722
(lower 6.00 m
level)
----------------------------------------------------------------------------
Labor 1 6.00 - 1.00 m 2440 0.66 245.0 0.56% 5.98% 0.27% 0.51% 359
(lower 7.00 m
level)
----------------------------------------------------------------------------
Labor 1 7.00 - 1.00 m 2441 2.86 573.0 0.15% 4.88% 0.21% 0.10% 134
(lower 8.00 m
level)
----------------------------------------------------------------------------
Labor 1 0.00 - 1.00 m 2447 0.83 251.0 0.72% 0.12% 0.08% 0.66% 723
(upper 1.00 m
level)
----------------------------------------------------------------------------
Labor 3 0.00 - 0.90 m 2442 0.75 346.0 0.25% 1.26% 0.14% 0.15% 181
(upper 0.90 m
level)
----------------------------------------------------------------------------
Labor 3 0.00 - 1.00 m 2443 0.28 589.0 0.52% 0.53% 0.21% 0.47% 321
(upper 1.00 m
level)
----------------------------------------------------------------------------
Labor 3 1.00 - 0.70 m 2444 0.20 381.0 0.71% 0.07% 0.25% 1.79% 880
(upper 1.70 m
level)
----------------------------------------------------------------------------
Labor 3 0.00 - 0.80 m 2445 0.51 290.0 0.22% 0.24% 0.32% 0.47% 928
(upper 0.80 m
level)
----------------------------------------------------------------------------
Labor 3 0.00 - 1.00 m 2446 0.06 153.0 0.35% 0.05% 0.06% 0.57% 447
(out- 1.00 m
side)
----------------------------------------------------------------------------
Weight- 0.63 242.0 0.59% 1.94% 0.41% 0.67% 883
ed
Aver-
age
----------------------------------------------------------------------------
The third mine working is within the surface property of Giber Sotomayor located
west of the Angostura River where Jaramillo excavated 2 trenches in 2003. The
objective of the visit was to sample the abandoned mine workings where sample
assays yielded gold values as high as 6.96 grams/tonne Au over 1 metre and a
weighted average of 2.07 grams/tonne Au over 16.6 metres of selective channel
sampling. Results are listed in Table 3.
----------------------------------------------------------------------------
Elem-
Loc- Inter- Sam- ent Au Ag Cu Pb Zn Mn Ba
ation val Width ple Unit ppm ppm ppm ppm ppm % ppm
----------------------------------------------------------------------------
Labor 1 0.00 - 0.80 m 2250 0.12 42.3 5443 23 127 greater 2191
0.80 m than 1
----------------------------------------------------------------------------
Dump at - 2251 0.33 54.8 7462 120 104 greater 1654
Mn- than 1
rich
outcrop
----------------------------------------------------------------------------
Labor 2 0.00 - 1.00 m 2252 3.80 2.3 94 18 22 greater 752
1.00 m than 1
----------------------------------------------------------------------------
Labor 2 1.00 - 0.30 m 2253 0.20 1.9 3 less 23 greater 85
1.30 m than 5 than 1
----------------------------------------------------------------------------
Labor 2 0.00 - 1.00 m 2254 0.20 1.5 4 less 32 greater 2200
1.00 m than 5 than 1
----------------------------------------------------------------------------
Labor 0.00 - 1.00 m 2256 2.13 1.2 8 less 17 greater 601
3, 1.00 m than 5 than 1
level
- 5 m
----------------------------------------------------------------------------
Labor 1.00 - 1.00 m 2258 6.96 1.8 19 less 9 greater 391
3, 2.00 m than 5 than 1
level
- 5 m
----------------------------------------------------------------------------
Labor 2.00 - 1.00 m 2259 2.29 1.6 4 less 14 greater 917
3, 3.00 m than 5 than 1
level
- 5 m
----------------------------------------------------------------------------
Labor 2.00 - 1.00 m dup- 2.84 1.2 7 less 15 greater 788
3, 3.00 m li- than 5 than 1
level cate
- 5 m
----------------------------------------------------------------------------
Labor 3.00 - 0.70 m 2261 3.73 2.1 20 less 16 greater 1510
3, 3.70 m than 5 than 1
level
- 5 m
----------------------------------------------------------------------------
Labor 3.70 - 1.00 m 2262 2.66 1.7 9 less 21 greater 542
3, 4.70 m than 5 than 1
level
- 5 m
----------------------------------------------------------------------------
Labor 4.70 - 1.00 m 2263 3.50 1.6 8 less 20 greater 325
3, 5.70 m than 5 than 1
level
- 5 m
----------------------------------------------------------------------------
Labor 5.70 - 1.00 m 2264 3.32 1.9 7 less 36 greater 633
3, 6.70 m than 5 than 1
level
- 5 m
----------------------------------------------------------------------------
Labor 6.70 - 0.60 m 2265 1.26 1.8 3 less 25 greater 660
3, 7.30 m than 5 than 1
level
- 5 m
----------------------------------------------------------------------------
Labor 0.00 - 1.00 m 2266 0.35 1.8 2 less 20 greater 191
3, 1.00 m than 5 than 1
level
mine
mouth
----------------------------------------------------------------------------
Labor 1.00 - 1.00 m 2267 1.42 2.0 3 less 18 greater 279
3, 2.00 m than 5 than 1
level
mine
mouth
----------------------------------------------------------------------------
Labor 2.00 - 1.00 m 2268 0.54 2.4 2 less 20 greater 300
3, 3.00 m than 5 than 1
level
mine
mouth
----------------------------------------------------------------------------
Labor 3.00 - 1.00 m 2269 0.75 1.7 3 less 23 greater 665
3, 4.00 m than 5 than 1
level
mine
mouth
----------------------------------------------------------------------------
Labor 4.00 - 1.00 m 2270 2.84 2.1 3 less 43 greater 756
3, 5.00 m than 5 than 1
level
mine
mouth
----------------------------------------------------------------------------
Labor 5.00 - 1.00 m 2271 0.56 less 5 less 18 0.92 384
3, 6.00 m than than 5
level 0.5
mine
mouth
----------------------------------------------------------------------------
Weight- 2.07 6.4 653 ? 31 greater 794
ed than 1
Aver-
age
----------------------------------------------------------------------------
Mr. James A. McCrea., P. Geo., a Qualified Person as defined by NI 43-101, has
reviewed this news release and approves all scientific and technical disclosure.
On behalf of the Board of Directors,
John Huguet, President
Statements in this press release regarding the Company which are not historical
facts are "forward-looking statements" that involve risks and uncertainties.
Such information can generally be identified by the use of forwarding-looking
wording such as "may", "expect", "estimate", "anticipate", "intend", "believe"
and "continue" or the negative thereof or similar variations. Since
forward-looking statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties may prove to be inaccurate
for any reason whatsoever. Actual results in each case could differ materially
from those currently anticipated in such statements. Except as required by law,
the Company does not intend to update any changes to such statements.
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