RE: Bullish Pattern Sees Opportunity for ProfitShould be the property is talking $$$$$
Aquila Resources Inc(C-AQA) -News Release
Aquila drills 3 metres of 125.61 g/t Au, 5,038 g/t Ag
2009-12-09 08:52 ET -News Release
Shares issued 81,770,529
AQA Close 2009-12-08 C
.305
Mr. Robin Dunbar reports
AQUILA AND HUDBAY DRILLING INTERSECTS EXCEPTIONAL GOLD AND SILVER GRADES
AquilaResources Inc. is providing additional high-grade gold and silver assayresults from the continuing drilling program at the Back Forty projectin Michigan's Upper Peninsula. The current drill program is targetingnear-surface gold mineralization as well as untested areas within thepotential open-pit area of the Back Forty polymetallic resource (seeNational Instrument 43-101 mineral resource evaluation, Back Fortypolymetallic deposit, Michigan, United States, dated Feb. 25, 2009),and is part of a larger program of engineering, environmental andpermitting activity undertaken by HudBay Minerals Inc., and Aquila as apart of an option and joint venture agreement for the Back Fortyproject.
Assay results for an additional nine drill holestargeting extension of the NS gold zone and other near-surface goldmineralization have been received, and significant results presented inthe attached table, with complete results available on the company'swebsite.
Interval
Drill From To (i) Gold Silver Copper Lead Zinc
hole (m) (m) (m) g/t g/t % % %
LK364 16.57 17.50 0.93 0.72 126 0.123 0.045 0.021
LK366 23.93 29.00 5.07 4.37 1 0.015 0.018 0.002
31.00 47.00 16.00 1.20 86 0.375 0.009 0.028
LK367 includes
31.70 36.00 4.30 2.01 262 0.663 0.017 0.010
7.32 18.00 10.68 1.36 23 0.014 0.013 0.004
includes
7.32 12.00 4.68 2.76 13 0.006 0.019 0.004
29.00 30.50 1.50 6.27 212 0.065 0.005 1.560
LK-368 34.50 42.00 7.50 53.16 2,099 0.031 0.265 0.066
includes
34.50 39.00 4.50 87.17 3,451 0.043 0.366 0.060
includes
34.50 37.50 3.00 125.61 5,038 0.048 0.498 0.076
8.23 15.50 7.27 2.90 11 0.006 0.028 0.005
LK369 36.50 38.00 1.50 1.41 60 0.031 0.004 0.219
41.00 44.00 3.00 1.27 32 0.009 0.002 0.774
LK370 36.00 43.10 7.10 2.85 11 0.019 0.012 0.009
LK371 25.20 28.05 2.85 6.03 24 0.055 0.066 0.012
(i) True thickness unknown
The attached holes in the table are located in thewestern portion of potential open pit development. High-gradeintercepts in LK-368, as well as LK-356 and LK-357 (releasedpreviously), appear to support a shallowly dipping, east-west striking,semi-continuous zone of previously unrecognized high-grade preciousmetal mineralization (the NS gold zone). Close-spaced drilling(10-to-15-metre step-outs) around these intercepts is currently beingcompleted to determine the continuity and extent of the zone.
"Theintercept in LK-368 represents the highest-grade precious metalintercept over a significant thickness yet encountered at the BackForty project, and has potential to add significant gold and silverounces to the in-pit metal inventory, and we will aggressively followup on this important development," stated Thomas O. Quigley, Aquila'spresident. "We are hopeful that continued infill drilling willdemonstrate that this new near-surface, high-grade zone will tie inwith other uncorrelated high-grade intercepts and will form acontinuous high-grade gold and silver zone within the current pitshell."
Exploration, engineering and permitting activities at theBack Forty project are progressing under the option and joint ventureagreement with HudBay (see Aquila news in Stockwatch dated Aug. 6,2009), who has the right to earn a 51-per-cent interest in the projectthrough expenditures of $10-million (U.S.) over the next three years,with the option to increase to 65 per cent by completing a feasibilitystudy and submitting a permit to mine.
Sample preparation andanalyses for this release were conducted by Inspectorate Labs ofSparks, Nev., on split drill core supplied by Aquila. Strict samplingand QA/QC protocol are followed, including the insertion of standardsand blanks on a regular basis. Sample intervals are typically 1.5metres. Analytical method for gold is fire assay with atomic adsorptionfinish and gravimetric finish for samples greater than three g/t gold.All other elements are analyzed by ICP with silver overlimits (greaterthan 200 g/t) analyzed by fire assay/gravimetric finish and base metaloverlimits analyzed by AAS. Thomas O. Quigley is the qualified personfor Aquila as described in National Instrument 43-101 and isresponsible for the contents of this release.
We seek Safe Harbor.