Aquila
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TORONTO, ONTARIO--(Marketwire - Jan. 11, 2010) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today provided an update on the Back Forty Project located in Menominee County, Michigan. The project is subject to a Subscription, Option, and Joint Venture Agreement (the "Agreement") with HudBay Minerals Inc. ("HudBay") (TSX:HBM), whereby HudBay has an option to earn up to a 65% interest in the project. The technical committee for the project has agreed on a project schedule and work plan with a targeted completion date of early 2011 for a feasibility study and permit application. The US$18.5 million budget for achieving these milestones has been approved by HudBay.
Project Budget
The approved work plan and budget will be utilized to complete scoping, prefeasibility and feasibility studies for the project as well as environmental and engineering studies to support a permit application with the State of Michigan. Budgeted expenditures will also include social outreach, cultural resource studies, exploration and resource drilling, geotechnical studies, land acquisition, and ongoing economic studies. HudBay will earn an initial 51% joint venture interest in the project upon spending US$10 million, and can increase that interest to 65% by completing a feasibility study and permit applications for the project.
"Aquila is extremely pleased with progress made on the project to date, and that HudBay has approved a comprehensive budget and development plan for moving the project through feasibility," stated Thomas O. Quigley, Aquila's President and CEO. "We are pleased with HudBay's motivation and commitment to advance the Back Forty Project rapidly towards a production decision."
Drill Program Update
A drill program targeting near surface gold mineralization as well as untested areas in the potential open pit, is continuing at the project with 40 holes drilled to date. Drilling has been focused on the near surface gold mineralization in the NS Zone which was not included in the National Instrument 43-101 resource estimate announced January 15, 2009 prepared by SRK Consulting (Canada) Inc. Positive results from NS Zone intercepts reported in recent releases continue to confirm and expand this zone. Geologic interpretation of the NS Zone is underway in anticipation of commissioning a NI 43-101 resource evaluation.
Drilling in 2010 will also include a recently identified geophysical target situated approximately 500 meters to the east of the Back Forty Resource.
About Aquila
Aquila signed a Subscription, Option, and Joint Venture Agreement (the "Agreement") with HudBay in August 2009 under which HudBay is to fund exploration and development at the Back Forty Project (see Aquila press release dated August 6, 2009). The Back Forty Project is an advanced stage VMS deposit which contains multiple lenses of massive sulfide mineralization with closely associated gold and silver zones. The January 2009 NI 43-101 resource estimate contains a measured and indicated resource of 8.5 million tonnes of 2.13 grams/tonne (g/t) gold, 30.6 g/t silver, 5.61% zinc and 0.51% copper. Approximately 6 million tonnes of the identified resource are potentially open pit ores, and many of the individual zones comprising the resource are open for expansion.
Thomas O. Quigley is the Qualified Person for Aquila as described in National Instrument 43-101 responsible for contents of this release.
More information about Aquila and the Back Forty Project including updated drilling information can be found on the Company's website at www.aquilaresources.com.
This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates, accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Shares Outstanding: 81,770,529
CONTACT INFORMATION:
Aquila Resources Inc. (Toronto)
Robin Dunbar
CFO
416-203-1404
info@aquilaresources.com
or
Aquila Resources Inc. (U.S.)
Thomas O. Quigley
President
906-753-9602
tquigley@aquilaresources.com
INDUSTRY: Manufacturing and Production - Mining and Metals
Vielleicht gibts bei dieser Story irgendwann noch ein richtiges Happy End!
Ich wünsch es allen, die seit Urzeiten hier dabei sind und mir selber natürlich auch!
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http://www.prnewswire.com/news-releases/...mine-project-81565937.html
...von wegen, in Michigan gibt es keine neuen Minen...und Aquila
ist die nächste Mine, die in Betrieb geht...
Jan 19, 2010 05:00 ET
Rio Tinto Given Go-Ahead for Controversial Michigan Nickel-Copper Mine, an Industrial Info News Alert
SUGAR LAND, TX--(Marketwire - January 19, 2010) - Researched by Industrial Info Resources (Sugar Land, Texas) -- After seven years of delays, Kennecott Eagle Minerals Company (Ishpeming, Michigan), a subsidiary of Rio Tinto (NYSE:RTP) (London, England), last week received the green light to begin construction of a grassroot nickel and copper mine near Michigamme, on Michigan's Upper Peninsula (U.P.). Concerns about the environmental impact of the mine, as well as disturbance to Eagle Rock, a site considered sacred by the local Anishnabe people, were at the heart of the delays. In addition to the construction of the mine, Kennecott is also planning to refurbish a former iron ore mill in nearby Humboldt (about 12 miles away) to support the activities of the new mine.
For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=154689, or browse other breaking industrial news stories at www.industrialinfo.com.
Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project spending opportunity databases, market forecasts, high resolution maps, and daily industry news. For more information send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com.
ISHPEMING, Mich., Feb. 9 /PRNewswire/ -- Kennecott Eagle Minerals Company today received all of the state permits it needs to refurbish and operate the Humboldt Mill. The Michigan Department of Natural Resources and Environment completed permitting for the project, issuing four permits covering air emissions, water discharges and other operations associated with the mill.
Jon Cherry, General Manager of Kennecott's Michigan operations said the company's efforts to revitalize the mill reflects Kennecott's commitment to sustainable development practices, and bringing greater value to the community. Cherry said the mill project has been well received throughout the community, and is an exciting and integral addition to the company's portfolio of Michigan operations.
"The revitalization of the Humboldt Mill makes a great deal of sense from a business perspective, and also from the perspective of adding value to the community through additional investment, job creation, and business opportunities for others in the area associated with the mill," said Cherry. "We have had great confidence in the project and what it means for the community from the beginning, and welcome the permits today."
The MDNRE today issued the following permits:
* A Nonferrous Metallic Mine Permit for general operations of the mill
* A National Pollutant Discharge Elimination System (NPDES) Permit for returning treated wastewater to the environment
* An Air Use Permit for air emissions
* An Inland Lakes & Streams Permit for improving and reactivation of the existing tailings reservoir.
Kennecott plans to use the mill for the same purpose it has been used historically -- to crush and grind rock that contains minerals. The mill will produce nickel and copper concentrates for supplying processing facilities.
Kennecott will begin clean up of the mill property -- both inside and outside -- later this year. Next year, Kennecott will build a new stand-alone water treatment plant at the site to ensure water discharged as part of the milling process meets state and federal quality standards. The plant has been designed specifically for Kennecott's planned Humboldt Mill operations. Later refurbishment plans include upgrading and replacing some of the millworks, and installation of equipment and structures for ensure the modern, safe, and efficient workings of the facility.
Kennecott will invest nearly $100 million in the Brownfield redevelopment project, which will employ approximately 200 workers during the construction effort, and 50 – 70 full time workers once the mill is operational (2013). Humboldt Mill will be a new source of tax base to Humboldt Township and the N.I.C.E. School District.
Humboldt Mill permits are available online at http://tiny.cc/A7SMJ.
SOURCE Kennecott Eagle Minerals Company
RELATED LINKS
http://tiny.cc/A7SMJ
Es sieht ganz nach einem Rebound aus, seit die Chinesen mit im Boot sind.
Ich würde gerne einige Fakten mit euch sammeln und die möglichkeiten für einen einstieg abwägen
Chinas Baosteel darf 15% an Aquila Resources übernehmen
EMFIS.COM - Sydney / Peking 30.10.09 (www.emfis.com) Nachdem
es in der letzten Zeit für chinesische Unternehmen bei Übernahmen in Australien ziemlich schlecht aussah, konnte heute eine Erfolgsmeldung bekannt gegeben werden.
Chinas größter Stahlkonzern, die Baosteel Group, hat vom australischen Foreign Investment Review Board die
offizielle Genehmigung erhalten, bei dem Minenunternehmen Aquila Resources einzusteigen. Der Antrag dazu lag seit zwei Monaten vor, EMFIS berichtete.
Baosteel beabsichtigt an dem in Perth ansässigen Unternehmen 15 Prozent zu übernehmen. Für diese Beteiligung zahlt der Stahlkonzern 285,60 Mio. USD. Baosteel hat die Option, seinen Anteil bis auf 19,99 Prozent an Aquila zu erhöhen.
Von Seiten des australischen Unternehmens, wurde die Genehmigung des FIRB begrüßt. Mit Hilfe der Chinesen, könne man die Projekte für Kohle, Erz und Mangan vorantreiben.
Die Aktie von Aquila war heute bei einem Kurs von 7,18 AUD vom Handel ausgesetzt.
Erst in der vergangenen Woche hatte der chinesische Kohleminenkonzern Yanzhou Coal Mining die Genehmigung erhalten, das australische Kohleunternehmen Felix Resources für 3,54 Mrd. AUD zu übernehmen.
Chinas Baosteel darf 15% an Aquila Resources übernehmen...
das ist aber ein australisches Aquila, nämlich
WKN: A0DLB2
ISIN: AU000000AQA9
Symbol: AQLRF ,
unsere Aquila in Michigan, USA is aber
WKN: A0JMCL
ISIN: CA03841G1019
Symbol: AQARF
Gruesse
Aquila Step Out Drilling Hits New Mineralized Horizon
TORONTO, ONTARIO--(Marketwire - March 25, 2010) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today announced results from a step-out drill program approximately 600 meters to the east of the established resource at the Back Forty Project in the Upper Peninsula of Michigan. Results from recent infill and step-out drilling within a proposed development pit were also released.
Step-Out Drilling
Two holes were drilled targeting a magnetic and gravity anomaly located 600 meters east of the known mineralization at Back Forty. Both holes encountered mineralized and extensively altered rhyolite flows, breccias and tuffaceous sediments and are interpreted to be an extension of this Back Forty deposit stratigraphy.
PTL-1 encountered anomalous zinc mineralization in a sequence of chlorite-altered fragmental volcanics containing 10.0 meters of 0.61% zinc, including one 1.5 meter sample of 1.08% zinc. PTL-2 encountered an interbedded sequence of flows and tuffaceous sediments including a chlorite altered fragmental zone containing 26.5 meters of 0.54% zinc, with smaller zones exceeding 1% zinc, a lower interval of tuffaceous sediments containing 12.5 meters of 0.51% zinc, and an underlying siliceous breccia with 6 meters of 1.1 g/t gold including 1.5 meters of 2.67 g/t gold.
The initial results are considered highly encouraging in that the favourable host package of rocks is now known to extend at least 600 meters to the east of the Back Forty Deposit. Additional drilling to explore this package of rocks will be planned following the receipt of downhole geophysical surveys. Other exploration targets in the immediate project area are also scheduled to be drill-tested.
"These new results show the potential for additional discoveries in the immediate project area," said Tom Quigley President and CEO of the Company. "We have not previously seen this intensity of alteration with anomalous base and precious metal mineralization outside of the immediate resource area, and we look forward to follow-up drilling on this target."
--------------------------------------------------
All Intervals
in Meters Interval Gold Silver Copper Lead Zinc
-----------------------
Hole # From To Width g/t g/t % % % Description
--------------------------------------------------
PTL-1 72.50 82.50 10.00 0.01 0.90 0.01 0.01 0.61 Altered
-------------------------------------------------- volcanics
Includes 79.50 81.00 1.50 0.02 0.70 0.01 0.00 1.08
--------------------------------------------------
Fragmental
PTL-2 57.50 82.00 26.50 0.01 1.26 0.01 0.02 0.54 volcanics
--------------------------------------------------
PTL-2 147.00 159.50 12.50 0.01 0.77 0.02 0.00 0.51 Tuffaceous
-------------------------------------------------- Sediments
Includes 155.00 156.50 1.50 0.01 0.80 0.01 0.01 1.08
--------------------------------------------------
PTL-2 347.00 369.00 22.00 0.50 4.33 0.01 0.03 0.23 Siliceous
-------------------------------------------------- rhyolite
Includes 347.00 353.00 6.00 1.10 11.55 0.01 0.07 0.21 breccia
--------------------------------------------------
Includes 351.50 353.00 1.50 2.67 35.20 0.02 0.18 0.23
--------------------------------------------------
Resource Drilling
Samples for an additional 21 holes which have targeted near surface mineralization within the proposed pit have been received and the significant results are summarized below. An additional 17 holes have been drilled and are being processed. After additional drilling is completed an updated resource estimate is planned to be completed as soon as possible.
The majority of resource drilling reported here was focused on expanding the 90 Gold Zone within the proposed open pit. Numerous holes encountered significant gold mineralization to the west and east of the presently defined 90 Zone and represent an important potential expansion of this resource.
usw.
Aquila and HudBay Announce Continued Positive Drilling Results Including 150 Meters of Gold and Zinc Mineralization in Hole LK-421
TORONTO, ONTARIO--(Marketwire - April 22, 2010) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") is pleased to announce positive additional drill results from its ongoing drilling program at the Back Forty Project in the Upper Peninsula of Michigan. The Back Forty Project is an advanced stage exploration project evaluating a zinc and gold rich volcanogenic massive sulfide under a Subscription, Option and Joint Venture Agreement with HudBay Minerals Inc. (TSX:HBM) ("HudBay"). Work is ongoing on a feasibility study and the technical advisory committee for the project has agreed on a project schedule and work plan with a targeted date of early 2011 for submission of a permit application.
The current drilling program, initiated in October of 2009, has focused on expanding and better defining the previously announced open pit measured and indicated resource (Back Forty Project Mineral Resource Evaluation, SRK Consulting (Canada), February 25, 2009). "These new results within the area of the proposed open pit will be incorporated into a new resource estimate and are expected to add to the February 2009 resource and have the potential to add significant improvement to the economics," stated Tom Quigley, President and CEO of Aquila. "Previous drilling has significantly expanded the known gold zones as well as the newly defined NS gold zone within the pit, and this recent drilling is expanding the zinc rich massive sulfide and associated stringer zones."
Highlights of the current drill results include a number of thick intercepts of massive sulfide and underlying gold rich stringer mineralization from infill drilling in the central portion of the resource, targeting an up-faulted block of Main Zone massive sulfide. Thicker intercepts of both massive sulfide and stringer zone in this up faulted area represent significant expansions of the modeled mineralization, comprising the February 25, 2009 resource, and include the following intervals:
-- 150 meter intercept in LK-421 consisting of 51.36 meters of 1.4 g/t gold
and 13.32% zinc in massive sulfide and 98.77 meters of 2.4 g/t gold and
1.4% zinc in stringer mineralization, representing an additional 7.7
meters of massive sulfide and 59.0 meters of sulfide stringer zone
outside of the February 2009 model.
-- 34.37 meters of 1.4 g/t gold and 9.56% zinc in massive sulfide in LK-
422, representing an additional 2.4 meters of massive sulfide and 31
meters of sulfide stringer zone outside of the previously modeled zone.
-- 61.5 meters of 3.8 g/t gold, including 14 meters of 8.0 g/t gold, of
stringer mineralization in LK-423, expanding the modeled stringer zone
by an additional 24.5 meters.
Details of the intercepts in LK-421 through LK-423 are shown in the table
below.
--------------------------------------------------
Interval
Drill From To (i) Gold Silver Copper Lead Zinc
Hole (m) (m) (m) g/t g/t % % % Zone
--------------------------------------------------
LK-421 44.37 95.73 51.36 1.4 13.2 0.20 0.02 13.32 Main Massive
--------------------------------------------------
includes 77.00 95.73 18.73 1.6 19.1 0.24 0.04 20.04 Main Massive
--------------------------------------------------
95.73 194.50 98.77 2.4 7.7 0.20 0.08 1.40 Main Stringer
--------------------------------------------------
includes 95.73 104.50 8.77 6.8 29.6 0.17 0.53 6.36 Main Stringer
--------------------------------------------------
LK-422 44.50 78.87 34.37 1.4 20.1 0.10 0.16 9.56 Main Massive
--------------------------------------------------
78.87 118.00 39.13 2.0 10.0 0.17 0.06 1.14 Main Stringer
--------------------------------------------------
LK-423 90.99 152.50 61.51 3.8 9.3 0.58 0.01 0.34 Main Stringer
--------------------------------------------------
includes 133.00 147.00 14.00 8.0 5.9 0.29 0.01 0.05 Main Stringer
--------------------------------------------------
(i)Drilled thickness. May not indicate true thickness.
Four holes intercepted a previously unknown zone(s) of shallow
mineralization with significant gold and silver values. Significant drill
results are as follows:
--------------------------------------------------
Interval
Drill From To (i) Gold Silver Copper Lead Zinc
Hole (m) (m) (m) g/t g/t % % % Zone
--------------------------------------------------
LK-412 30.49 34.80 4.31 2.0 3.7 0.01 0.01 0.00 NS Gold
--------------------------------------------------
45.50 48.48 2.98 1.7 37.8 0.02 0.19 0.01 90 Gold
--------------------------------------------------
LK-416 50.50 55.20 4.70 3.3 79.3 0.03 0.66 0.28 Unknown
--------------------------------------------------
LK-418 35.76 37.00 1.24 5.9 12.9 0.01 0.01 0.00 Unknown
--------------------------------------------------
LK-419 86.50 91.50 5.00 0.9 88.1 0.01 0.12 0.36 Unknown
--------------------------------------------------
LK-420 79.00 84.00 5.00 3.7 8.6 0.03 0.41 0.02 Unknown
--------------------------------------------------
(i)Drilled thickness. May not indicate true thickness
Updated drilling information can be found on the Company's website at www.aquilaresources.com.
Project Activities
Approximately 10,000 meters of additional drilling conducted since October is expected to significantly expand the established resource and will be compiled into a new resource estimate to be calculated as part of ongoing prefeasibility and permitting activities at the project. Results from an additional 35 holes are pending and an additional 1,700 meters is planned to complete the program of in-pit drilling. Current project activities are funded by HudBay as a part of their earn in, with $10,000,000 of expenditures required to earn an initial 51% interest in the project, with the option to increase this to 65% by completing a feasibility study and mine permit application.
The Company also plans follow-up drilling on a new mineralized horizon to the east of the current resource (see press release dated March 25, 2010) following evaluation of downhole geophysical surveys as well as drilling of other exploration targets in the project area.
Sample preparation and analyses for this release were conducted by Inspectorate Labs of Sparks, NV on split drill core supplied by Aquila. Strict sampling and QA/QC protocol are followed, including the insertion of standards and blanks on a regular basis. Sample intervals are typically 1.5 meters. Analytical method for gold is fire assay with atomic adsorption finish and gravimetric finish for samples greater than 3.0 g/t gold. All other elements are analyzed by ICP with silver overlimits (greater than 200 g/t) analyzed by fire assay/gravimetric finish and base metal overlimits analyzed by AAS.
Thomas O. Quigley is the Qualified Person for Aquila as described in National Instrument 43-101, and is responsible for the contents of this release.
More information about Aquila and the Back Forty Project, including updated drilling information, can be found on the Company's website at www.aquilaresources.com.
This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates, accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Shares Outstanding: 81,770,529
CONTACT INFORMATION:
Aquila Resources Inc. (Toronto)
Robin Dunbar
CFO
416-203-1404
info@aquilaresourcesinc.com
or
Aquila Resources Inc. (U.S.)
Thomas O. Quigley
President, CEO
906-753-9602
tquigley@aquilaresources.com
INDUSTRY: Manufacturing and Production - Mining and Metals
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Wertpapier: Aquila Resources |
Aquila and HudBay Announce Additional Drilling Results-Expanding Massive Sulfides and Gold Zones Near Surface LK-430 Intercepts 122.4 Meters at 2.0 g/t Gold and 5.5% Zinc
TORONTO, ONTARIO--(Marketwire - June 15, 2010) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) is pleased to announce more positive drill results from its ongoing drilling program at the Back Forty Project in the Upper Peninsula of Michigan. The Back Forty Project is an advanced stage exploration project evaluating a zinc and gold rich volcanogenic massive sulfide deposit under a Subscription, Option and Joint Venture Agreement with HudBay Minerals Inc. (TSX:HBM). Engineering and permit work is ongoing and the technical advisory committee for the project has agreed on a project schedule and work plan with a targeted date of early 2011 for submission of a permit application.
Drilling at the Back Forty Project continues to focus on expanding and further defining resources from the previously announced National Instrument (NI) 43-101 compliant mineral resource estimate (Back Forty Project Mineral Resource Evaluation, SRK Consulting, Toronto, Canada, February 25, 2009) available at www.sedar.com. The current drill results include intercepts of massive sulfide gold-rich stringer mineralization from the East and Hinge zones with significant lengths outside the current resource model as well as holes which confirm the eastern expansion of the 90 Gold Zone and the continuity of the NS Gold Zone, not included in the previous resource estimate.
"We continue to be impressed with assay results from the in-pit resource drilling," stated Tom Quigley, Aquila's President and CEO. "Definition of new mineralization and expansions of known zones within the resource pit shell continue to add value to the project, and we look forward to an updated mineral resource later this year."
Highlights include:
-- LK-424: 5.5 meters of East Zone massive sulfide outside of the resource
model assaying 10.2 g/t gold, 79.1 g/t silver and 8.6% zinc.
-- LK-429: 13.3 meters of East Zone massive sulfide outside of the resource
model of 8.2% zinc in an overall intercept of 19.8 meters of 9.6% zinc
and 1.2 g/t gold.
-- LK-430: 13.5 meters of massive sulfide outside of the resource model
which ran 10.6% zinc and 6.5 g/t gold within an overall 122.4 meters of
massive sulfide and stringer assaying 5.5% zinc, 2.0 g/t gold and 9.1
g/t silver, which also included 40 meters of 12.8% zinc and 2.5 g/t
gold.
-- LK-431: Confirmed the continuity of the eastern extension of the 90 Gold
Zone with an intercept of 5.4 meters of 6.1 g/t gold and 197.1 g/t
silver, and also intersected a new eastern extension of Tuff Zone
massive sulfide containing 4.5 meters of 6.4% zinc, 2.1 g/t gold, 45.1
g/t silver and 1.1% lead.
-- LK-433: Expanded the shallow 90 Zone in the southeast area of the
resource open pit with 43.7 meters of 1.1 g/t gold including 10.2 meters
of 2.9 g/t gold and 7.1 g/t silver. LK-433 also intersected the PM Gold
Zone with 7.8 meters of 5.2 g/t gold and 53.2 g/t silver.
-- LK-436: 20.5 meters of Pinwheel gossan and massive sulfide outside of
the current resource model that ran 2.8 g/t gold, 263.5 g/t silver and
2.2% copper, including 4.8 meters of 5.1 g/t gold, 59.6 g/t silver and
3.0 meters of 6.6% copper and 459.5 g/t silver.
-- LK-437: In-fill to define continuity of the NS Zone definition. It
intersected 6.0 meters of 34.0 g/t gold and 487.7 g/t silver, and 14.7
meters of 3.3 g/t gold and 48.1 g/t silver.
-- LK-438: Intersected 5.8 meters above the modeled Hinge Zone that assayed
8.6% zinc, 1.7 g/t gold and 17.2 g/t silver, and 8.4 new meters east of
the modeled Hinge Zone of 14.6% zinc, 1.1 g/t gold and 23.2 g/t silver.
Significant intercepts are summarized in the table below:
--------------------------------------------------
All
Intervals in
Meters Interval g/t g/t % % %
------------
Hole # From To Width(ii) Gold Silver Copper Lead Zinc Description
--------------------------------------------------
LK-424 East Zone
gossan and
12.0 31.0 19.0 4.4 36.6 0.2 0.2 11.9 sulfide
--------------------------------------------------
including 24.0 29.5 5.5(i) 10.2 79.1 0.2 0.1 8.6
--------------------------------------------------
LK-425 East Zone
gossan and
7.0 27.0 20.0 3.1 23.3 0.4 0.0 4.8 sulfide
--------------------------------------------------
including East Zone
massive
13.5 21.0 7.5 1.8 13.7 0.5 0.0 10.9 sulfide
--------------------------------------------------
and East Zone
massive
21.0 25.5 4.5 6.1 62.7 0.4 0.1 2.5 sulfide
--------------------------------------------------
LK-426 East Zone
gossan and
10.4 23.2 12.8 4.2 17.6 0.7 0.0 1.5 sulfide
--------------------------------------------------
LK-427 East Zone
stringer
58.3 90.0 31.8 2.6 8.4 0.2 0.0 0.5 sulfide
--------------------------------------------------
including 58.3 78.0 19.8 3.1 10.9 0.2 0.1 0.7
--------------------------------------------------
LK-428 Hinge Zone
massive
79.0 94.6 15.6(i) 1.5 13.5 0.4 0.0 3.2 sulfide
--------------------------------------------------
LK-429 East Zone
massive
86.0 105.8 19.8 1.2 12.4 0.1 0.1 9.6 sulfide
--------------------------------------------------
including 92.5 105.8 13.3(i) 1.5 12.4 0.1 0.1 8.2
--------------------------------------------------
LK-430 Hinge Zone
massive
10.1 132.5 122.4 2.0 9.1 0.1 0.0 5.5 sulfide
--------------------------------------------------
including 37.0 50.5 13.5(i) 6.5 9.8 0.2 0.1 10.6
--------------------------------------------------
including 50.5 90.5 40.0 2.5 19.1 0.3 0.1 12.8
--------------------------------------------------
LK-431 52.0 57.4 5.4(i) 6.1 197.1 0.0 0.4 0.6 90 Gold Zone
--------------------------------------------------
Including 52.0 55.0 3.0 9.5 334.0 0.0 0.6 0.9
--------------------------------------------------
LK-431 74.0 78.5 4.5(i) 2.1 45.1 0.0 1.1 6.4 Tuff Zone
--------------------------------------------------
LK-433 16.8 60.5 43.7(i) 1.1 4.5 0.0 0.0 0.5 90 Gold Zone
--------------------------------------------------
including 16.8 27.0 10.2 2.9 7.1 0.0 0.0 0.0
--------------------------------------------------
LK-433 104.5 117.8 13.3(i) 3.4 38.4 0.1 0.5 0.2 PM Gold Zone
--------------------------------------------------
including 110.0 117.8 7.8 5.2 53.2 0.1 0.8 0.1
--------------------------------------------------
LK-434 East Zone
massive
79.3 101.4 22.1 1.1 9.9 0.2 0.0 11.1 sulfide
--------------------------------------------------
LK-434 East Zone
stringer
101.4 107.5 6.1 3.3 9.4 0.1 0.0 4.0 sulfide
--------------------------------------------------
LK-435 31.0 43.0 12.0(i) 1.1 5.8 0.0 0.0 0.0 90 Gold Zone
--------------------------------------------------
LK-436 Pinwheel Zone
gossan and
11.0 31.5 20.5(i) 2.8 263.5 2.2 0.0 0.0 sulfide
--------------------------------------------------
including Pinwheel Zone
12.7 17.5 4.8 5.1 59.6 0.4 0.0 0.0 gossan
--------------------------------------------------
including Pinwheel Zone
massive
18.4 21.4 3.0 1.1 459.5 6.6 0.0 0.0 sulfide
--------------------------------------------------
LK-437 37.8 52.5 14.7 3.3 48.1 0.1 0.0 0.0 NS Gold Zone
--------------------------------------------------
LK-437 67.0 73.0 6.0 34.0 487.7 0.1 0.0 0.1 NS Gold Zone
--------------------------------------------------
LK-438 Hinge Zone
massive
70.2 108.4 38.2 1.1 12.8 0.2 0.1 13.9 sulfide
--------------------------------------------------
including 70.2 76.0 5.8(i) 1.7 17.2 0.4 0.0 8.6
--------------------------------------------------
including 100.0 108.4 8.4(i) 1.1 23.2 0.1 0.3 14.6
--------------------------------------------------
LK-439 23.6 30.2 6.6 3.1 2.1 0.0 0.0 0.0 NS Gold Zone
--------------------------------------------------
LK-440 18.2 23.8 5.6 4.3 42.6 0.3 0.0 0.1 NS Gold Zone
--------------------------------------------------
LK-441 16.7 20.1 3.4 2.9 5.1 0.0 0.0 0.0 NS Gold Zone
--------------------------------------------------
LK-442 Hinge Zone
massive
60.6 92.0 31.4 1.0 13.1 0.1 0.1 10.4 sulfide
--------------------------------------------------
including 60.6 69.5 8.9(i) 1.1 11.4 0.1 0.0 11.5
--------------------------------------------------
(i) Intercepts outside current resource model
(ii) Drilled thickness, not true thickness
Other Results
-- LK-425: Intersected 7.5 meters of massive sulfide that assayed 10.9%
zinc and 4.5 meters of underlying stringer assaying 6.1 g/t gold and
62.7 g/t silver in the East Zone.
-- LK-426: Confirmed current East Zone resource thickness by intersecting
12.8 meters of 4.2 g/t gold in near surface gossan and massive sulfide.
-- LK-427: Defined inferred gold-rich East Zone stringer with 31.8 meters
of 2.6 g/t gold including 19.8 meters of 3.1g/t gold.
-- LK-428: Expanded Hinge massive sulfide and stringer with 15.6 meters
outside of resource model assaying 3.2% zinc and 1.5 g/t gold.
-- LK-434: Defined additional East Zone and inferred stringer by
intersecting 22.1 meters of massive sulfide assaying 11.1% zinc and 1.1
g/t gold, and 6.1 meters of 3.3 g/t gold in stringer sulfide.
-- LK-435: Expanded the eastern 90 Zone by intersecting 12.0 meters of 1.1
g/t gold outside the current resource.
NS Gold Zone In-Fill
-- LK-439: Intersected 6.6 meters of 3.1 g/t gold.
-- LK-440: Intersected 5.6 meters of 4.3 g/t gold and 42.6 g/t silver.
-- LK-441: Intersected 3.4 meters of 2.9 g/t gold.
Pending Holes
Resource drilling is now complete with an additional 37 holes with assays pending.
Sample preparation and analyses for this release were conducted by Inspectorate Labs of Sparks, NV, on split drill core supplied by Aquila. Strict sampling and QA/QC protocol are followed, including the insertion of standards and blanks on a regular basis. Sample intervals are typically 1.5 meters. Analytical method for gold is fire assay with atomic adsorption finish and gravimetric finish for samples greater than 3.0 g/t Gold. All other elements are analyzed by ICP with silver overlimits (greater than 200 g/t) analyzed by fire assay/gravimetric finish and base metal overlimits analyzed by AAS.
Thomas O. Quigley is the Qualified Person for Aquila as described in NI 43-101 and is responsible for the contents of this release.
More information about Aquila and the Back Forty Project, including updated drilling information, can be found on the Company's website at www.aquilaresources.com.
This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates, accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Shares Outstanding: 81,791,779
CONTACT INFORMATION:
Aquila Resources Inc. (Toronto)
Robin Dunbar
CFO
416-203-1404
info@aquilaresourcesinc.com
or
Aquila Resources Inc. (U.S.)
Thomas O. Quigley
President
906-753-9602
tquigley@aquilaresources.com
www.aquilaresources.com
http://www.rohstoff-welt.de/news/artikel.php?sid=19759
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Aquila Acquires Michigan Gold Properties and Drilling Has Begun
TORONTO, ONTARIO--(Marketwire - Nov. 1, 2010) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today announced that it has acquired under option a package of gold properties located in the Marquette Greenstone Belt in the Upper Peninsula of Michigan. Drilling of approximately six to eight holes has commenced on one of several exploration targets expected to be drilled in 2010 and 2011. Acquisition of the gold properties are part of a corporate diversification strategy by Aquila to expand its portfolio of assets outside its current 49% interest in the Back Forty Joint Venture with HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("HudBay").
"Our exploration focus going forward will be to acquire, explore and develop gold properties for Aquila in concert with exploration and development of additional base metal properties with joint venture partner HudBay under our recently signed Exploration Alliance Agreement," stated Tom Quigley, President and CEO of Aquila. "This acquisition of high potential exploration stage gold projects takes advantage of our exploration expertise in the State of Michigan and diversifies Aquila's mineral property interests."
With the acquisition of the Michigan gold properties, Aquila has three key assets in its portfolio:
1) 49% interest in the Back Forty Joint Venture
2) Strategic Exploration Alliance funded by HudBay
3) Aquila optioned gold interests
These mineral interests are located in the Upper Peninsula of Michigan, and the company views the region as having excellent mineral potential as evidenced by recent discoveries, including the Eagle Nickel Copper Deposit by Kennecott, as well as the Back Forty Zinc Gold VMS Deposit. Historically, the Upper Peninsula has produced significant amounts of copper and iron ore, and lesser amounts of gold and silver.
MICHIGAN GOLD PROPERTIES
Drilling has commenced on the Peninsula Property located in the Archean-aged Marquette Greenstone Belt and is part of a package of mineral interests acquired by Aquila in this area. The Peninsula Property contains a number of targets within a 300 acre area that has seen small scale mining and prospecting activity in the early 1900's, and limited exploration during the 1980's and 1990's. The Peninsula target is a broad zone of shearing and quartz carbonate alteration partially tested by Callahan Mining Corporation, the operators of the Ropes Gold Mine during the 1980's located two miles to the northeast of the Peninsula Property. Historical drilling by Callahan reported values up to 11.3 g/t gold over 5.5 meters at the Peninsula Property.
Under the terms of the Option Agreement, Aquila can earn an interest in 332 acres of surface and mineral land and 1,799 acres of mineral rights owned by the vendor in the Marquette Greenstone Belt. To earn a 100% interest in the properties, the Company must make cash payments totaling $100,000 over four years, issue 400,000 shares (100,000 upon signing) over four years, and complete a total of $950,000 of work expenditures over four years. In order to complete a 100% acquisition of the properties, Aquila must purchase the mineral and surface rights owned by the vendor for $1300 per acre. A net smelter return royalty ranging from 1% to 4% is payable in the event of mineral production from the properties.
The properties under Option are owned by Minerals Processing Corporation - a related party to Aquila with common directors and officers. The Option and transaction were approved by the non-related party directors of Aquila.
BACK FORTY JOINT VENTURE
On October 15, 2010, Aquila and HudBay announced a new mineral resource estimate at the Back Forty Joint Venture project (see Aquila press release dated October 15, 2010). The new resource contains 18.1 million tonnes in the measured and indicated category with nearly one million ounces of contained gold and over one billion pounds of zinc. The potential open pit contains approximately 16.4 million measured and indicated tonnes.
The first drill hole in an exploration program targeting mineralization below the resource pit shell intercepted two zones of massive sulfide and gold mineralization including an upper zone of 6.02 meters of 8.14 g/t gold, 312.2 g/t silver and 7.99% zinc, as well as a lower zone of 69.67 meters of 1.11 g/t gold, 27.0 g/t silver and 1.30% zinc, including 6.23 meters of 6.39 g/t gold and 94.27 g/t silver. Two drills are active at the project with plans to add a third drill in the near future.
EXPLORATION ALLIANCE
Aquila also announced in the October 15, 2010 press release, the signing of an Exploration Alliance Agreement with HudBay to explore for base metal deposits in the Upper Peninsula. Under the terms of the agreement HudBay has made a $250,000 payment to Aquila and will subsequently make a US$2 million equity investment into the Company. Under the terms of the agreement, HudBay may fund up to $2 million in exploration expenditures on specific properties at which time a 50/50 joint venture would be established. HudBay can then elect to increase its interest to 65% by completing a feasibility study and submitting required mine permit applications under a structure similar to the current joint venture agreement at the Back Forty Project.
The Exploration Alliance will potentially benefit Aquila shareholders by enabling the Company to acquire and explore new properties on a non-dilutive basis, particularly during the early phase of exploration when the risk is very high.
Thomas O. Quigley is the Qualified Person for Aquila as described in National Instrument 43-101, and is responsible for the contents of this release.
More information about Aquila and the Back Forty Project, including updated drilling information, can be found on the Company's website at www.aquilaresources.com and at www.sedar.com.
This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates, accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Shares Outstanding: 82,296,013
CONTACT INFORMATION:
Aquila Resources Inc. (Toronto)
Robin Dunbar
CFO
416-203-1404
rdunbar@aquilaresources.com
or
Aquila Resources Inc. (U.S.)
Thomas O. Quigley
President
906-753-9602
tquigley@aquilaresources.com
www.aquilaresources.com
Heute wurden in Fr. und Münch. relativ größere Mängen gekauft 140 000- . Meine letzte Nachricht stammt von der Homepage 01.11.2010 Weiß jemand mehr, oder etwas Neues???
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Wertpapier: Aquila Resources |