Kann bloß gut für unsere Aquila sein....
Aquila Intersects Copper and Gold Rich South Limb Massive Sulfide
Including 4.3 meters of 26.1 grams per tonne gold and 366 grams per tonne silver
TORONTO, ONTARIO--(Marketwire - July 28, 2008) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") released results from an additional 10 step out and infill drill holes targeting the South Limb Massive Sulfide at the Back Forty Project in Michigan's Upper Peninsula. In addition to intercepts of the South Limb Massive Sulfide, mineralization was encountered above and below the South Limb target, representing unknown or new zones of mineralization. These drill hole results are part of an additional 170 holes drilled in the past year that will be incorporated in an updated National Instrument (NI) 43-101 resource expected later this summer.
Highlights include:
South Limb Massive Sulfide
- 6.2 meters of 2.3% copper and 0.9% zinc in LK-295
- 4.3 meters of 26.1 grams per tonne (g/t) gold and 366.0 g/t silver in LK-307
- 7.2 meters of 7.1 g/t gold and 63.8 g/t silver in LK-309
- 5.4 meters of 10.1% zinc and 0.24% copper in LK-291
- 5.0 meters of 1.0% copper and 1.7% zinc in LK-292
--------------------------------------------------
All Intervals
in Meters Est.
---------------------- True g/t g/t % % % Descrip- Zone
Hole # From To Width Au Ag Cu Pb Zn tion (ii)
--------------------------------------------------
Altered
rhyolite
LK-248 21.5 24.5 3.0(i) 2.33 39.85 0.01 0.05 0.04 tuff NS
Altered
rhyolite
38.0 41.0 3.0(i) 3.46 28.03 0.01 0.01 0.06 tuff NS
--------------------------------------------------
Stringer Un-
LK-287 407.0 411.1 4.1(i) 0.15 7.71 0.03 0.41 2.02 sulfides known
--------------------------------------------------
Semi-
massive Un-
LK-291 318.7 320.5 1.8(i) 1.27 185.13 0.30 3.02 6.56 sulfide known
S. Limb
massive South
401.5 409.2 5.4 1.42 14.18 0.24 0.17 10.06 sulfide Limb
Massive Un-
432.3 437.1 4.8(i) 1.26 16.09 0.55 0.17 0.13 sulfide known
Felsic
462.5 463.5 1.0(i) 6.96 49.00 0.20 0.45 0.02 dike PM?
--------------------------------------------------
S. Limb
massive South
LK-292 371.0 398.2 22.7 0.79 17.11 0.50 0.17 0.69 sulfide Limb
S. Limb
massive South
Including 381.5 387.5 5.0 1.05 32.95 0.98 0.16 1.70 sulfide Limb
--------------------------------------------------
Altered
rhyolite Un-
LK-295 4.5 9.2 4.7(i) 0.14 4.06 0.86 0.05 0.01 tuff known
Semi-
massive Un-
341.9 343.4 1.5(i) 0.72 2.26 0.37 0.34 8.62 sulfide known
S. Limb
massive South
387.6 404.4 15.2 0.92 27.07 1.10 0.25 0.54 sulfide Limb
S. Limb
massive South
Including 397.5 404.4 6.2 1.14 37.14 2.25 0.45 0.94 sulfide Limb
Altered
rhyolite Un-
415.0 418.5 3.5(i) 0.36 6.92 0.90 0.02 0.14 tuff known
--------------------------------------------------
Semi-
massive Un-
LK-301 394.9 395.9 0.9(i) 0.05 0.50 0.01 0.08 3.16 sulfide known
Altered
rhyolite Un-
445.5 447.2 1.7(i) 0.06 15.04 0.10 0.36 3.73 tuff known
--------------------------------------------------
Altered
rhyolite
LK-307 77.5 97.0 19.5(i) 1.65 14.17 0.06 0.22 0.88 tuff NS
Altered
rhyolite
Including 85.0 88.0 3.0(i) 3.23 9.55 0.09 0.20 0.24 tuff NS
Altered
rhyolite Un-
168.5 172.8 4.3(i) 26.14 366.03 0.19 2.12 0.87 tuff known
Altered
rhyolite Un-
Including 168.5 171.5 3.0(i) 36.22 480.42 0.25 2.82 1.09 tuff known
S. Limb
semi-
massive South
172.8 185.6 10.6 1.08 28.92 0.06 0.22 2.24 sulfide Limb
S. Limb
semi-
massive South
Including 175.8 182.8 5.8 1.28 35.30 0.05 0.30 3.45 sulfide Limb
--------------------------------------------------
LK-308 No significant values
--------------------------------------------------
S. Limb
massive South
LK-309 192.3 200.8 7.2 7.12 63.80 0.17 0.46 0.24 sulfide Limb
S. Limb
semi-
massive South
211.3 215.9 3.5 6.01 173.80 0.35 1.67 0.54 sulfide Limb
--------------------------------------------------
RS-3 No significant values
--------------------------------------------------
(i)Drilled thickness, true thickness unknown
(ii)PM equals Porphyry Margin Gold Zone, NS equals NS Gold Zone, South Limb
equals South Limb Massive Sulfide
Holes listed above include a 125 meter down dip step out of the South Limb in LK-291, as well as a 30 meter up-dip step out in LK-307. The holes also included intercepts of the NS Gold Zone, the PM Gold Zone, as well as other peripheral zones of precious metal and zinc mineralization.
As of March 2007 the South Limb and Hinge massive sulfides had a measured and indicated resource of 4 million tonnes grading 1.83 g/t gold, 18.59 g/t silver, 6.58% zinc, 0.25% copper, and these intercepts represent an important extension of those zones.
Drilling at the Back Forty Project currently consists of one drill rig focusing on the Deep Zone massive sulfide, and assay results from several holes targeting the East Zone massive sulfide, near surface definition of the Porphyry Margin Gold Zone, as well as strike extensions of the Pinwheel Zone are still pending.
Although the resource remains open to expansion and numerous other targets remain to be tested, the Company is temporarily slowing down its drill program at the Back Forty Project in order to focus on establishing a new NI 43-101 compliant mineral resource to form the basis for mine planning and scoping work required for a preliminary economic assessment. "We feel that our drilling over the past year and a half has resulted in significant expansion of the March 2007 resource zones, as well as definition of previously undefined gold zones, and that it is important to quantify these expansions and incorporate them into an economic framework," stated Tom Quigley, Aquila's President. Work continues to advance the updated 43-101 compliant resource estimate expected later this summer, and initial engineering studies related to mine planning and plant design have been implemented.
Further information about Aquila and the Back Forty Project including a map showing the location of the holes in this press release as well as the principle mineralized zones is available on the Company's website at www.aquilaresources.com.
Sample preparation and analyses for this release were conducted by Accurassay Labs in Thunder Bay, Ontario on split drill core supplied by Aquila. Standards were inserted in the sample sequences with check assays and re-run's routinely conducted. Tom Quigley, P.Geo. and President of Aquila is the Qualified Person as described in National Instrument 43-101 for the Back Forty Project and is responsible for the content of this press release.
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The securities being offered have not and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws, and may not be offered or sold within the United States or to or for the account of benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to purchase securities in the United States.
Shares Outstanding: 70,109,478
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the contents of this release.
CONTACT INFORMATION:
Aquila Resources Inc. (Toronto)
Robin Dunbar
CFO
(416) 203-1404
Email: info@aquilaresourcesinc.com
or
Aquila Resources Inc. (U.S.)
Thomas O. Quigley
President
(906) 753-9602
Email: toquigley@qwest.net
Website: www.aquilaresources.com
or
First Canadian Capital Corp.
Leo Karabelas
(416) 742-5600
Email: request@firstcanadiancapital.com
INDUSTRY: Manufacturing and Production - Mining and Metals
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Aquila Reports New Porphyry Margin Gold Intercepts
Including 8.4 meters of 6.9 g/t gold, and 2.1 meters of 14.6 g/t gold and 285.8 g/t silver
TORONTO, ONTARIO--(Marketwire - Aug. 18, 2008) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") released results from an additional five holes targeting porphyry margin (PM) precious metal mineralization as well as infill sampling from three holes testing both PM and near surface (NS) gold horizons at its Back Forty Project in the Upper Peninsula of Michigan. The results reported below continue to show the significance of precious metal mineralization at the Back Forty Project. The PM Gold Zone, like the 90 Gold Zone, was not included in last year's resource calculation, and will likely add significantly to the precious metal content of the Back Forty massive sulfide deposit in the upcoming NI 43-101 expected later this summer.
Significant Intercepts:
- 2.1 meters (m) of 14.6 grams/tonne (g/t) gold and 285.8 g/t silver in LK-324
- 10.3m of 2.3 g/t gold and 4.7 g/t silver in LK-326
- 2.5m of 25.1% zinc and 2.1 g/t gold (unknown massive sulfide) in LK-326
- 1.1m of 67.9 g/t gold and 48.9 g/t silver in 108427
- 8.4m of 6.9 g/t gold and 2.1 g/t silver in LK-145P
-- Including 2.5m of 15.2 g/t gold and 2.8 g/t silver
--------------------------------------------------
All
Intervals
in Meters Est.
--------------------- True g/t g/t (%) (%) (%) Descri- Zone
Hole # From To Width Au Ag Cu Pb Zn ption (ii)
--------------------------------------------------
LK-324(i) 38.0 42.5 4.5(i) 1.57 4.00 0.01 0.03 0.62 Sulfide Un-
stringers known
77.0 78.5 0.9 3.78 0.60 0.01 0.00 0.04 Quartz PM
feldspar
porphyry
86.0 87.5 0.9 3.96 4.20 0.01 0.00 0.03 Quartz PM
feldspar
porphyry
124.5 128.0 2.1 14.55 285.94 0.13 2.72 0.06 QFP+SMAS PM
Including 125.2 126.9 1.0 28.96 573.41 0.23 5.54 0.05 Quartz PM
feldspar
porphyry
--------------------------------------------------
LK-325(i) 13.5 24.0 10.5(i) 1.46 4.91 0.06 0.05 0.34 Altered Un-
rhyolite known
tuff
25.5 28.5 2.0 1.89 6.50 0.03 0.06 0.36 Quartz PM
feldspar
porphyry
66.3 67.3 0.6 5.48 174.28 0.13 6.03 0.62 QFP+RCTF PM
113.5 115.9 2.4(i) 0.49 9.45 0.02 0.14 4.02 Altered Un-
rhyolite known
tuff
--------------------------------------------------
LK-326(i) 9.0 21.0 12(i) 2.33 4.74 0.04 0.02 0.02 RCTF+QFP ?/PM
33.0 34.5 1.3 7.74 2.20 0.06 0.02 0.94 Quartz PM
feldspar
porphyry
42.0 43.5 1.3 4.33 0.40 0.00 0.01 0.49 Quartz PM
feldspar
porphyry
59.0 63.5 4.5(i) 0.94 3.23 0.02 0.05 3.03 Sulfide Un-
stringers known
64.6 67.1 2.5(i) 2.14 9.12 0.20 0.03 25.11 Massive Un-
sulfide known
70.0 88.5 18.5(i) 0.59 5.08 0.02 0.12 2.55 Sulfide Un-
stringers known
94.5 100.5 6.0(i) 0.40 7.35 0.02 0.15 2.25 Sulfide Un-
stringers known
--------------------------------------------------
LK-329(i) 5.5 7.0 1.5(i) 5.53 43.70 0.02 0.39 0.01 Altered Un-
rhyolite known
tuff
23.5 26.5 3.0(i) 2.22 16.25 0.10 0.16 0.28 Altered Un-
rhyolite known
tuff
28.5 28.9 0.3 2.66 1480.00 1.74 4.55 2.56 Altered PM
rhyolite
tuff
62.0 70.0 8.0(i) 1.73 9.64 0.06 0.19 3.00 Sulfide Un-
stringers known
74.5 77.5 3.0(i) 0.51 3.90 0.04 0.12 3.76 Sulfide Un-
stringers known
--------------------------------------------------
LK-332(i) 52.3 53.2 0.7 4.77 146.00 0.15 4.13 0.35 Quartz PM
feldspar
porphyry
--------------------------------------------------
108423(i) 118.0 118.5 0.4 2.78 33.20 0.01 0.93 0.03 Quartz- PM
feldspar
porphyry
--------------------------------------------------
108427(i) 136.0 137.0 0.7 2.66 60.00 0.04 1.28 0.05 Quartz- PM
feldspar
porphyry
141.3 145.0 2.6 2.74 157.50 0.08 2.83 0.19 QFP+MFDK PM
168.5 170.0 1.1 67.90 48.90 0.05 0.16 0.15 Quartz- PM
feldspar
porphyry
--------------------------------------------------
LK-145P 18.0 26.4 8.4(i) 6.92 2.07 0.01 0.08 0.00 Altered NS
rhyolite
tuff
Including 22.0 24.5 2.5(i) 15.19 2.80 0.01 0.10 0.00 Altered NS
rhyolite
tuff
--------------------------------------------------
(i) Drilled thickness, true thickness unknown
(ii) PM equals Porphyry Margin Gold Zone, NS equals NS Gold Zone
The PM Gold Zone is a significant gold and silver enrichment along a late quartz-feldspar intrusive dike, and remains open to expansion in all directions. The newly discovered NS Gold Zone is hosted in strongly altered and sheared rhyolites at the surface.
Results reported above include important, near surface extensions of previously defined porphyry margin gold mineralization. LK-324, 325, and 326 are a series of overcuts of a previously released PM intercept in LK-149, which assayed 11.8m of 10.9 g/t gold. LK-326, the largest of these step outs returned 12m of 2.3 g/t gold as well as 1.5m 7.7 g/t silver and is an approximate 100m overcut of LK-149. LK-329 and LK-332 are 25m and 75m, respectively, east step outs from this series of holes all targeting near surface extensions of previously reported PM Zone gold mineralization. A schematic diagram showing some of these intercepts, as well as a plan map showing drill hole locations is available on the company's website.
As well as important porphyry margin intercepts, these drill holes also intersected near surface gold and zinc mineralization in altered rhyolites, sulfide stringers, and massive sulfides adjacent to the PM zone. Infill sampling in LK-145P of strongly altered and sheared rhyolites, typical of the host rock to the near surface (NS) gold zone, returned impressive gold values of 8.4m of 6.9 g/t gold including 2.5m of 15.2 g/t gold.
Sample preparation and analyses for this release were conducted by Accurassay Labs in Thunder Bay, Ontario or ACT Labs in Thunder Bay, Ontario on split drill core supplied by Aquila. Standards were inserted in the sample sequences with check assays and re-run's routinely conducted. Tom Quigley, P.Geo. and President of Aquila is the Qualified Person as described in National Instrument 43-101 for the Back Forty Project and is responsible for the content of this press release.
A map showing the location of the holes in this press release as well as the principle mineralized zones is available on the Company's website at www.aquilaresources.com.
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The securities being offered have not and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws, and may not be offered or sold within the United States or to or for the account of benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to purchase securities in the United States.
Shares Outstanding: 70,109,478
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the contents of this release.
CONTACT INFORMATION:
Aquila Resources Inc. (Toronto)
Robin Dunbar
CFO
(416) 203-1404
Email: info@aquilaresourcesinc.com
or
Aquila Resources Inc. (U.S.)
Thomas O. Quigley
President
(218) 733-1452
Email: toquigley@qwest.net
Website: www.aquilaresources.com
or
First Canadian Capital Corp.
Leo Karabelas
(416) 742-560
Email: request@firstcanadiancapital.com
INDUSTRY: Manufacturing and Production - Mining and Metals
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Aquila Moves Forward With a Preliminary Economic Assessment of the Back Forty Project
TORONTO, ONTARIO--(Marketwire - Aug. 25, 2008) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") is pleased to announce plans for completion of a National Instrument 43-101 compliant Preliminary Economic Assessment (PEA) of its Back Forty Project in the Upper Peninsula of Michigan, USA. The study has been contracted with SRK Consultants Inc. of Toronto, Canada, and will involve a scoping level evaluation of mine and associated infrastructure design and layout, capital and operating costs, and economic potential of the Back Forty Project.
The study, which is targeted for completion in early to mid 2009, will incorporate information from the updated 43-101 resource calculation currently in progress by SRK Consultants, Inc., expected to be completed later this fall. The PEA will also incorporate results from recently completed metallurgical studies of Back Forty ores, and will also consider environmental constraints and permitting requirements, as well as geotechnical, hydrological, and cultural considerations.
A variety of specialists will assist SRK in the study, including Environmental Resource Management (currently involved with baseline environmental work at the project), Foth Infrastructure and Environment LLC, and Golder Associates Ltd.
"This preliminary assessment will be an important milestone for the Company," stated Tom Quigley, Aquila's President. "We are looking forward to putting the new Back Forty mineral resource into an economic context, with the goal of putting together an environmentally protective, sustainable development plan to make the project a win-win situation for Aquila and all stakeholders."
More information about Aquila is available at the Company's website at www.aquilaresources.com. Tom Quigley, P.Geo. and President of Aquila is the Qualified Person as described in National Instrument 43-101 for the Back Forty Project and is responsible for the content of this press release.
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The securities being offered have not and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws, and may not be offered or sold within the United States or to or for the account of benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to purchase securities in the United States.
Shares Outstanding: 70,109,478
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the contents of this release.
CONTACT INFORMATION:
Aquila Resources Inc. (Toronto)
Robin Dunbar
CFO
(416) 203-1404
Email: info@aquilaresourcesinc.com
or
Aquila Resources Inc. (U.S.)
Thomas O. Quigley
President
(906) 753-9602
Email: toquigley@qwest.net
or
First Canadian Capital Corp.
Leo Karabelas
(416) 742-5600
Email: lkarabelas@firstcanadiancapital.com
INDUSTRY: Manufacturing and Production - Mining and Metals
Aquila Extends Gold, Silver, Copper, Zinc Zone 540 Meters and Moves to Conserve Cash
Highlights include 3.5 meters 9.4 grams/tonne gold and 79.8 grams/tonne silver
TORONTO, ONTARIO--(Marketwire - Oct. 14, 2008) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") is pleased to release assays from the final 13 drill holes targeting the Pinwheel Zone expansion at the Back Forty Project in Michigan's Upper Peninsula. This drilling has successfully extended this zone 540 meters along strike.
Significant intercepts include:
- 3.5 meters (m) 9.4 grams/tonne (g/t) gold and 79.8 g/t silver in LK-312PE
- 1.8 m 2.1 g/t gold, 1,308.7 g/t silver and 1.3% copper in LK-314PE
- 1.1 m 1.4% copper and 478.6 g/t silver in LK-311PE
Detailed results from the 13 holes summarized above are available on the Company's website at www.aquilaresources.com.
Aquila's extensive exploration drill program of 44,000 meters in 203 new drill holes since completion of NI 43-101 compliant resource in April 2007 is now complete with results of the remaining 37 holes still pending. A new 43-101 resource estimate is expected before the end of 2008. Aquila anticipates that the newly released results from the Pinwheel Zone expansion announced today, which is a poly-metallic lens of massive to semi-massive sulfide containing predominantly copper and zinc with local enrichments of gold and silver, will significantly expand this multi metal resource.
With the suspension of drilling, the Company has begun geotechnical and mine planning work necessary to complete a 43-101 Preliminary Economic Assessment expected to be completed in 2009. "We are eagerly awaiting the new resource numbers and results of the Preliminary Assessment, and hope to establish the Back Forty as a major, poly-metallic deposit with continued potential for expansion," stated Tom Quigley, Aquila's President.
While Aquila is financially well positioned to continue to advance the Back Forty towards a development decision, management and the Board of Directors have developed plans to curtail expenditures and extend the existing budget through 2010 in the event capital markets fail to improve. Concurrently with this, the Company is evaluating a variety of financing options and partnerships to enable the Back Forty Project to proceed on schedule with advancement toward feasibility and permitting. "It is our intention to continue towards development at the project, and our current cash position and projected expenditures for 2009 will allow us to maintain our projected time lines," stated Mr. Quigley.
Sample preparation and analyses for this release were conducted by Accurassay Labs in Thunder Bay, Ontario on split drill core supplied by Aquila. Standards were inserted in the sample sequences with check assays and re-run's routinely conducted. Tom Quigley, P.Geo. and President of Aquila is the Qualified Person as described in National Instrument 43-101 for the Back Forty Project and is responsible for the content of this press release.
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The securities being offered have not and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws, and may not be offered or sold within the United States or to or for the account of benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to purchase securities in the United States.
Shares Outstanding: 70,109,478
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the contents of this release.
CONTACT INFORMATION:
Aquila Resources Inc. (Toronto)
Robin Dunbar
CFO
(416) 203-1404
Email: info@aquilaresourcesinc.com
or
Aquila Resources Inc. (U.S.)
Thomas O. Quigley
President
(906) 753-9602
Email: tquigley@aquilaresources.com
Website: www.aquilaresources.com
