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Posts tagged ‘Aquila Resources Inc (AQA)’

Under the rainbows

February 5th, 2013

Columbus, Aquila/Hudbay and Evolving find gold in French Guiana, Michigan and Nevada

by Greg Klein

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To put some perspective on its Paul Isnard property in French Guiana, Columbus Gold TSXV:CGT likes to go back in time—roughly 225 million years. That’s before tectonic forces tore apart the planet’s one and only continent. The present-day Caribbean coast of South America was then joined to present-day northwestern Africa. Consequently there’s continuity, the company contends, between South America’s Guiana Shield and the Birimian Shield of gold-rich countries like Guinea, the Ivory Coast, Burkina Faso and Ghana. Thanks to that geology, Columbus has boosted its inferred resource by 184% to 5.37 million gold ounces.

As announced on February 5, the project’s Montagne d’Or resource update uses a low cutoff of 0.3 grams per tonne for a deposit starting at surface and reaching an average vertical depth of 247 metres. The company provided additional numbers for higher cutoff grades:

  • with a 0.3 g/t cutoff, 117.1 million tonnes averaging 1.43 g/t for 5.37 million ounces
  • with a 0.4 g/t cutoff, 111.2 million tonnes averaging 1.48 g/t for 5.3 million ounces
  • with a 0.5 g/t cutoff, 101.9 million tonnes averaging 1.58 g/t for 5.17 million ounces
  • with a 0.7 g/t cutoff, 81.7 million tonnes averaging 1.82 g/t for 4.78 million ounces
  • with a 1 g/t cutoff, 58.1 million tonnes averaging 2.22 g/t for 4.15 million ounces.
A rainbow seen from Evolving Gold’s Carlin project adds a storybook touch to geological exploration

A rainbow seen from Evolving Gold’s Carlin project
adds a storybook touch to mineral exploration.

The update uses a 16 g/t topcut as compared to the previous 1.89-million-ounce resource, which used a 30 g/t topcut and 0.4 g/t cutoff.

In a statement accompanying the announcement, Columbus chairman/CEO Robert Giustra said modelling “has also identified gaps within the deposit envelope where additional drilling has the potential to add ounces and where tighter drilling may upgrade some or all of the inferred resources to the indicated category. Additional expansion potential is also suggested by untested geochemical anomalies extending more than three kilometres along strike, by incompletely tested parallel zones of gold mineralization, and at depth.”

The 149-square-kilometre Paul Isnard project includes a 65-person camp with airstrip on a forest road connecting to a highway 115 kilometres from the port of St. Laurent.

Columbus shares opened February 5 at $0.355, seven cents above the previous close, and hit $0.425 before settling on a $0.365 close.

Another resource update, announced February 4, comes from Michigan’s Back Forty project, a 49/51 joint venture of Aquila Resources TSX:AQA and Hudbay Minerals TSX:HBM. The global resource shows:

  • measured and indicated resources of 987,236 gold ounces, 11.91 million silver ounces, 110.43 million copper pounds, 74.3 million lead pounds and 1.02 billion zinc pounds
  • an inferred resource of 155,885 gold ounces, 1.99 million silver ounces, 18.65 million copper pounds, 17.21 million lead pounds and 113.33 million zinc pounds.

The estimate provides separate numbers for open pit and underground resources. The open pit estimate shows:

  • measured and indicated resources of 640,663 gold ounces, 6.96 million silver ounces, 72.27 million copper pounds, 36.22 million lead pounds and 525.54 million zinc pounds.

The underground estimate shows:

  • measured and indicated resources of 346,572 gold ounces, 4.95 million silver ounces, 38.16 million copper pounds, 38.07 million lead pounds and 496.13 million zinc pounds

  • an inferred resource of 142,351 gold ounces, 1.82 million silver ounces, 18.02 million copper pounds, 15.9 million lead pounds and 103.7 million zinc pounds.

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Aquila reports Wisconsin Gold Assays including 1.62 g/t over 18m

May 8th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAquila Resources Inc TSX:AQA announced assays from its Reef Gold Project in Marathon County, Wisconsin. Results include

1.2 g/t gold over 15.2 metres
1.76 g/t gold over 15.5 metres
0.66 g/t gold, 4.81 g/t silver and 0.26% copper over 6.9 metres
2.02 g/t gold, 3.19 g/t silver and 0.18% copper over 4.3 metres
0.99 g/t gold and 0.18% copper over 42.2 metres
(including 1.62 g/t gold and 0.23% copper over 18.2 metres)

President/CEO Tom Quigley said, “We are quite pleased with the progress being made at Reef. We continue to build on the historic drilling with broad, near-surface zones of gold and copper mineralization. The latest round of drilling succeeded in expanding 2010 results and outlined the shallow up-dip extension of historic high-grade zones, building the framework for a potential open-pit resource.”

View Company Profile

Contact:
Thomas O. Quigley
President/CEO
906.352.4024

or Robin Dunbar
CFO
416.203.1404

by Ted Niles

Aquila reports Wisconsin Gold Assays up to 3.23 g/t over 14.5m

January 27th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAquila Resources Inc TSX:AQA announced assay results from its Reef gold project in Marathon County, Wisconsin. Highlights include

8.43 g/t gold over 2.1 metres
2.53 g/t over 9.9 metres (including 5.07 g/t over 3.9 metres)
3.23 g/t over 14.5 metres (including 13.05 g/t over 3.5 metres)

President/CEO Thomas Quigley commented, “The focus at Reef for 2012 is to work towards establishing a significant open-pit gold resource. Building on the positive results reported in September as well as from historical drilling by Noranda, we continue to be encouraged by the potential at Reef, which is becoming a significant component of our strategy to generate gold resources in the Great Lakes region.”

View Company Profile

Contact:
Thomas Quigley
President/CEO
906.352.4024

or Robin Dunbar
CFO
416.203.1404

by Ted Niles

Aquila reports Wisconsin Reef gold assays including 14.41 g/t over 14.8m

September 29th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningAquila Resources Inc TSX:AQA announced results from its Reef gold project in Marathon County, Wisconsin. Assays include

8.4 g/t gold over 3.2 metres
0.95 g/t over 11.9 metres
2.96 g/t over 3.1 metres
4.62 g/t over 7 metres
1.08 g/t over 6 metres
1.07 g/t over 12.5 metres
1.08 g/t over 5.6 metres
1.7 g/t over 10.5 metres
5.61 g/t over 6.4 metres
14.41 g/t over 14.8 metres (including 21.28 g/t over 9.3 metres)

President/CEO Tom Quigley stated, “We are very pleased with the progress being made at Reef and will continue drilling to extend and define the mineralized structure. The strong intercept from R11-11 shows the potential for new, previously unidentified zones southwest of the known resource.”

View Company Profile

Contact:
Thomas O. Quigley
President/CEO
906.352.4024

or Robin Dunbar
CFO
416.203.1404

by Ted Niles

Aquila, HudBay report MI Assays of 1.02 g/t Gold, 108.11 g/t Silver over 24m

September 22nd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningAquila Resources Inc TSX:AQA in joint venture with HudBay Minerals Inc TSX:HBM announced results from the Back Forty project in Michigan. Highlights include

0.67 g/t gold and 17.65 g/t silver over 10.7 metres
2.92 g/t gold and 54.58 g/t silver over 11.6 metres
1.6 g/t gold over 46.6 metres
1.02 g/t gold and 108.11 g/t silver over 24 metres
1.56 g/t gold and 16.87 g/t silver over 48.2 metres
1.18 g/t gold over 37.3 metres
1.45 g/t gold and 54.89 g/t silver over 51.1 metres

Hudbay has a 51% interest in the project and is the project operator with Aquila holding the remaining 49%. The Back Forty project has an NI 43-101 mineral resource estimate of 902,000 ounces gold, 11.39 million ounces silver, 961.2 million pounds zinc and 78.6 million pounds copper in the measured and indicated categories. It has 140,000 ounces gold, 2.64 million ounces silver, 145.6 million pounds zinc and 33.2 million pounds copper in the inferred category.

View Company Profile

Contact:
Aquila Resources Inc
Robin Dunbar
CFO
416.203.1404

by Ted Niles

Aquila President/CEO Tom Quigley on Michigan assays of 18.57 g/t gold over 8 m

February 9th, 2011

“There is a greenstone belt in the Upper Peninsula here that has a lot of gold occurrences and one former producer. This particular prospect was initially found by the operators of that mine and was partially drilled. We’ve acquired that ground and are expanding on what they began back in the 1980s.

“A couple of today’s assays were pretty nice—and we had a previous release from the earlier holes in this program that also had some nice values. I was quite pleased, because I was aware of this prospect from the historical work. I was a bit surprised actually at some of the grades we’re getting there. It’s typical; it’s got some high grade and it’s pretty erratic. We’re just starting to figure it out. It’s a very early stage prospect and we’ve only just begun to define it.

“This is one of several targets we’re looking at in that belt. I think we have 8,000 or 9,000 feet of drilling planned to follow-up on the first round for this particular target. So we will be doing a bit more drilling there.”

View Company Profile

Aquila reports Michigan Gold Assays including 18.57 g/t over 8m

February 8th, 2011

Aquila Resources Inc TSX:AQA announced assay results from its Peninsula Gold Target in the Upper Peninsula of Michigan. Highlights include 18.57 g/t gold over 8 metres (including 54.98 g/t over 1.6 metres and 22.39 g/t over 2.5 metres), 1.2 g/t over 4.5 metres, 11.56 g/t over 0.6 metres and 35.93 g/t over 4.5 metres (including 315.13 g/t over 0.5 metres).

President/CEO Tom Quigley tells ResourceClips.com, “There is a greenstone belt in the Upper Peninsula here that has a lot of gold occurrences and one former producer. This particular prospect was initially found by the operators of that mine and was partially drilled. We’ve acquired that ground and are expanding on what they began back in the 1980s.

“A couple of today’s assays were pretty nice—and we had a previous release from the earlier holes in this program that also had some nice values. I was quite pleased, because I was aware of this prospect from the historical work. I was a bit surprised actually at some of the grades we’re getting there. It’s typical; it’s got some high grade and it’s pretty erratic. We’re just starting to figure it out. It’s a very early stage prospect and we’ve only just begun to define it.

“This is one of several targets we’re looking at in that belt. I think we have 8,000 or 9,000 feet of drilling planned to follow-up on the first round for this particular target. So we will be doing a bit more drilling there.”

View Company Profile

Contact:
Thomas O. Quigley
President/CEO
906.753.9602

or Robin Dunbar
CFO
416.203.1404

by Ted Niles

Aquila reports Michigan Gold Assays of 4.48 g/t over 3.1m

January 19th, 2011

Aquila Resources Inc AQA:CA announced assays from its Michigan Gold Project in the Marquette Greenstone Belt in Michigan. Results include 4.48 g/t gold over 3.1 metres, 3.72 g/t over 4.9 metres, 9.47 g/t over 16.7 metres and 8.62 g/t over 2.9 metres.

President Tom Quigley commented, “This is an excellent start to Aquila’s strategy to develop gold assets on the back of our joint venture interest in the Back Forty Project. We are excited to kick off our Michigan gold exploration program with such positive results, and are optimistic about continuing to expand this target with more drilling. Although our present focus is on developing gold resources in the area of the Back Forty development to capitalize on potential gold circuit infrastructure, we are also acquiring other properties and projects further removed from the Back Forty Project, with excellent potential to further add gold and silver resources to Aquila’s asset base.”

View Company Profile

Contact:
Robin Dunbar
CFO
416.203.1404

or Thomas O. Quigley
President
906.753.9602

by Ted Niles