606m oz Silver - 1m oz Gold
One of the world’s largest undeveloped Silver projects - Argentina
Message: Extends Loma de La Plata Mineralization; Intersections Include 24.66 m @ 549 g/t
| February 9, 2009 | |
| Aquiline Extends Loma de La Plata Mineralization; Intersections Include 24.66 m @ 549 g/t Ag | |
|
TORONTO, ONTARIO--(Marketwire - Feb. 9, 2009) - Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI) is pleased to report the results from 46 diamond drill holes (NV08-875 to NV08-920) at its Navidad Project in the Province of Chubut, Argentina. These results conclude the reporting of holes drilled up to the end of the campaign that ended on 18 December, 2008. All drilling results will be incorporated in an updated resource estimate, currently being calculated by Snowden Mining Consultants Inc. ("Snowden"), for expected release in March this year. The last resource estimate incorporated data from 519 drill holes, and estimated a resource of 127.7 million tonnes grading 110 g/t Ag and 1.06% Pb, or 453 million ounces Ag, and 3.0 billion lbs Pb (Measured + Indicated), with an Inferred resource of 49.0 million tonnes grading 97 g/t Ag and .5% Pb, or 153 million ounces Ag, and 546 million lbs Pb. Marc Henderson, President and CEO commented, "We anticipate the upcoming resource estimate will meet our objective of converting Inferred resources to Indicated at Loma de La Plata, as recommended by Snowden in our Scoping Study. We also look forward to the initial estimate of a resource at the Valle Esperanza deposit. Our drilling in 2009 is scheduled to resume this quarter, and will follow up reconnaissance targets identified in the 2008 exploration program. While the resource estimate is pending, metallurgical testwork is underway for other Navidad deposits exhibiting high silver grades with very low base metals, including Barite Hill and Valle Esperanza. We plan to have these results ready for publication in late March or early April." All drilling results can be accessed on the Company's web page (www.aquiline.com), and the most significant results are reported below:
Loma de La Plata Extension Drilling
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Compos-
Gauss Gauss ite g/t
Kruger Kruger length Silv- % g/t
Loca- Zone Zone from to (met- er Lead AgEq
DDH tion 2 E 2 N (metres) (metres) res) (LWA) (LWA) (LWA)
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Loma
NV08- de la
904 Plata 2,512,420 5,303,349 279.34 318.95 39.61 357 0.00 357
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includ-
ing 279.34 304.00 24.66 549 -0.01 549
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includ-
ing 281.90 284.66 2.76 1,905 -0.01 1905
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Loma
NV08- de la
905 Plata 2,512,353 5,303,297 284.26 295.90 11.64 92 0.06 94
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includ-
ing 284.26 289.41 5.15 180 0.11 184
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includ-
ing 284.26 285.64 1.38 543 0.26 551
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Loma
NV08- de la
906 Plata 2,512,481 5,303,449 308.57 315.85 7.28 291 0.58 308
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includ-
ing 308.57 309.73 1.16 1,618 -0.01 1618
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and 331.04 338.00 6.96 64 0.00 64
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Loma
NV08- de la
917 Plata 2,512,527 5,303,500 343.70 353.44 9.74 50 0.57 66
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includ-
ing 344.68 349.34 4.66 85 0.32 94
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Loma
NV08- de la
919 Plata 2,512,618 5,303,600 87.78 89.35 1.57 297 1.85 351
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Loma de la Plata Infill Drilling
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Compos-
Gauss Gauss ite g/t
Kruger Kruger length Silv- % g/t
Loca- Zone Zone from to (met- er Lead AgEq
DDH tion 2 E 2 N (metres) (metres) res) (LWA) (LWA) (LWA)
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Loma
NV08- de la
876 Plata 2,511,691 5,303,600 257.00 269.00 12.00 57 -0.01 57
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includ-
ing 257.00 260.00 3.00 144 -0.01 144
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Loma
NV08- de la
880 Plata 2,511,869 5,303,400 126.25 143.00 16.75 49 -0.01 49
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and 166.80 172.00 5.20 349 -0.01 349
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includ-
ing 166.80 167.80 1.00 1563 -0.01 1563
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Loma
NV08- de la
888 Plata 2,511,865 5,303,200 102.50 129.00 26.50 287 0.25 294
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includ-
ing 106.57 125.00 18.43 407 0.34 417
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includ-
ing 110.00 118.00 8.00 796 0.60 813
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NOTES:
1. True thickness has not been calculated for any of the above holes.
2. All length weighted averages are "uncut", i.e. have no grade capping.
3. Silver equivalent is calculated using US$10.80/oz silver and U$S0.46/lb
lead (average last 10 years). (AgEq equals Ag + (%Pb(i)10,000/342). No
attempt has been made to adjust these relative values by accounting for
metallurgical recoveries, as insufficient information is available to do
so.
Loma de La Plata The latest extension holes report a number of significant results at Loma de La Plata including hole NV08-904 with an intercept of 39.61m @ 357 g/t Ag, including 24.66m @ 549 g/t Ag, and hole NV08-906 with 7.28m @ 291 g/t Ag. The last holes drilled to the NE at Loma de la Plata have demonstrated that the mineralization appears to be thinning out in the upper latite unit between 300 - 400 metres to the east of the 2007 resource boundary. With this expansion, mineralization is now projected over a footprint measuring approximately 800m north-south by 1100m east-west. Connector, Calcite NW and Filo del Plomo In the Connector Zone, drilling included four extension holes. Extension hole NV08-896 demonstrated continuity of mineralization southward from the present resource perimeter; two significant intercepts are reported: 25.53m @ 103 g/t Ag and 26.50m @ 96 g/t Ag. This mineralization is interpreted to be confined in a relatively narrow structural corridor within volcaniclastic lithologies that deepen towards the SSW and the Valle Esperanza resource. Four drill holes were completed in the SE sector of the Calcite NW with the aim of testing the resource with drill holes separated by 100m from the perimeter holes previously drilled. Holes NV08-915 and -916 reported mineralization of interest, and it is pointed out that the Calcite NW resource remains partially open to the SE and SW and essentially open-ended along all of the NE to NW perimeter. In Filo del Plomo, only 10 drill holes have been drilled to date, four of which are reported here The mineralization of interest is generally contains low silver values, but high lead values. The potential for significant silver equivalent (AgEq) mineralization is demonstrated over an extensive area underlain by the northeast dipping upper latite unit. Owing to the extensive mineralized area at Filo del Plomo, there remains good potential to delineate a zone with significant resource in AgEq or even with Ag only grades. The 46 holes reported above total 11,008 metres that are included in a total database of 185,371 metres drilled over the life of the project. Aquiline follows a quality control program at site that it considers to be of "best practice" caliber for a systematic sampling program using diamond drill core. All assay work for the released results was carried out by Alex Stewart Laboratories in Mendoza, Argentina. Under the guidelines of the 43-101 National Instrument, the Qualified Person for the Navidad Project is Mr. John J. Chulick who is a registered geologist in the State of California. ABOUT AQUILINE Aquiline Resources Inc. is an exploration and development company advancing one of the world's largest undeveloped silver deposits (Navidad), as well as a gold/silver deposit (Calcatreu), both in Argentina, and a gold deposit in Peru (Pico Machay). |
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