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Aquila Drills 65.7 Meters of 6.95% Zinc, 31.0 Meters of 10.0 G/T Gold and 58.5 Meters of 5.1 G/T Gold at the Main Zone Hinge
Thursday January 11, 1:00 am ET
TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2007) - AQUILA RESOURCES INC. (TSX VENTURE:AQA - News; FRANKFURT:JM4A - News; "Aquila" or the "Company") today announced the last of the drill results from the 2006 drilling program at the Back Forty Project in the Upper Peninsula of Michigan. The results include the thickest massive sulfide intercept to date underlain by gold rich stringer mineralization from the Main Zone Hinge, more gossan and massive sulfide intercepts from the Pinwheel Zone, and mineralized and altered rocks from a deep, stratigraphic test hole.
Highlights include:
Main Zone Hinge:
- 65.7 meters, estimated true thickness, of 6.5% zinc, 1.6 g/t gold and 31.0 meters, true thickness unknown, of 10.0 g/t gold, 65.4 g/t silver in LK-150.
- 58.5 meters, true thickness unknown, of 5.1 g/t gold in LK-148.
Pinwheel Zone:
- 14.2 meters, estimated true thickness, of 3.2 g/t gold, 31.5 g/t silver in gossan, and 7.5 meters, true thickness unknown, of 4.2 g/t gold, 24.3 g/t silver, in siliceous sediments in LK-143P.
- 11.0 meters, estimated true thickness, of 1.7 g/t gold 265.3 g/t silver, 1.1% copper in massive sulfides and gossan in LK-144.
Detailed results from these drill holes are shown in the tables below.
--------------------------------------------------
Main Zone Hinge Drill Results
--------------------------------------------------
All Intervals
in Meters Est.
------------- True g/t g/t % % %
Hole # From To Width Au Ag Cu Pb Zn Description
--------------------------------------------------
Main zone hinge
LK-148 95.6 154.0 58.5(i) 5.1 11.6 0.59 0.01 0.05 massive sulfide
---------------
Main zone hinge
includes 119.5 146.5 27.0(i) 7.7 11.4 0.70 0.01 0.03 massive sulfide
--------------------------------------------------
Main zone hinge
LK-150 99.3 165.0 65.7 1.6 20.7 0.31 0.04 6.95 massive sulfide
Main zone hinge
includes 145.5 165.0 19.5 2.7 11.8 0.02 0.07 13.04 massive sulfide
Stringer
165.0 196.0 31.0(i) 10.0 65.4 0.22 0.53 0.27 sulfides
Stringer
includes 169.0 175.4 6.4(i) 17.2 61.9 0.23 0.44 0.42 sulfides
--------------------------------------------------
Main zone hinge
LK-151 102.0 128.0 26.0 1.7 13.8 0.11 0.04 3.67 massive sulfide
Main zone hinge
128.0 193.1 65.1 2.6 16.9 0.69 0.02 0.31 massive sulfide
--------------------------------------------------
(i) drilled thickness, true width not known
--------------------------------------------------
Pinwheel Drill Results
--------------------------------------------------
All Intervals
in Meters Est.
------------- True g/t g/t % % %
Hole # From To Width Au Ag Cu Pb Zn Description
--------------------------------------------------
Pinwheel
LKI-135P 23.2 39.6 16.4 0.9 16.1 0.84 0.03 0.10 massive sulfide
--------------------------------------------------
Pinwheel
LK-138P 6.3 8.4 2.1 2.1 31.0 0.60 0.06 0.01 massive sulfide
--------------------------------------------------
LK-143P 6.1 20.3 14.2 3.2 31.5 0.08 0.20 0.01 Pinwheel gossan
Siliceous
32.3 39.8 7.5(i) 4.2 24.3 0.09 0.02 0.01 sediments
--------------------------------------------------
Pinwheel gossan
LK-144P 32.5 43.5 11.0 1.7 265.3 1.07 0.04 0.01 and sulfides
--------------------------------------------------
LK-145P 31.6 33.0 1.4 0.7 26.3 1.55 0.06 0.01 Pinwheel gossan
--------------------------------------------------
(i) drilled thickness, true width not known
--------------------------------------------------
Deep Test Hole
--------------------------------------------------
All Intervals
in Meters Est.
------------- True g/t g/t % % %
Hole # From To Width Au Ag Cu Pb Zn Description
--------------------------------------------------
Sulfide
stringers in
siliceous
LK-110 405.5 423.5 18.0(i) 0.1 3.6 0.03 0.04 1.27 sediments
--------------------------------------------------
(i) drilled thickness, true width not known
Drill holes LK-148, LK-150 and LK-151 intersected the Main Zone Hinge approximately half way between the near surface East and Pinwheel zones. LK-150, drilled fifty meters west of LK-148, returned one of the thickest zinc intervals to date, directly overlying a thick gold rich stringer zone for a continuously mineralized interval of 96 meters. LK-151, a 25 meter undercut of LK-150, encountered an estimated true thickness of 91.1 meters of massive sulfides. Together with previously announced results, the Main Zone Hinge has been traced along 200 meters of strike length between the East and Pinwheel zones, and remains open to the west.
Drill results from the Pinwheel Zone continue to define near surface gold and copper rich gossans and massive sulfides. The Pinwheel Zone remains open down dip to the northwest and along strike to the southwest and these areas of potential expansion will be targeted in future drill programs.
LK-110 was a 200 meter step out from the most south-westerly and deepest intercept of the Main Zone South Limb, and was designed to test the down plunge extension. The hole was terminated at 649.5 meters (the capacity for the drill) after encountering, and bottoming in a thick sequence of altered rhyolite crystal tuffs hosting an 18 meter section of siliceous sediments containing 1.27% zinc. This altered package of rhyolites and sediments is identical to the permissive stratigraphy which hosts the Main Zone and Tuff Zone massive sulfides and is considered an excellent indication of the down plunge potential and size of the system. This hole, as well as other deeper holes, are being probed with down hole pulse EM surveys to identify off hole targets for future drill testing.
Drill results up to the end of 2006 are being incorporated into an updated 43-101 compliant reserve/resource which is expected to be completed in the first half of 2007. Drilling at the Back Forty project is scheduled to resume in late January 2007.
An updated plan map showing hole locations is available at the Aquila website at www.aquilaresources.com/projects.php#map.
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.
Thursday January 11, 1:00 am ET
TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2007) - AQUILA RESOURCES INC. (TSX VENTURE:AQA - News; FRANKFURT:JM4A - News; "Aquila" or the "Company") today announced the last of the drill results from the 2006 drilling program at the Back Forty Project in the Upper Peninsula of Michigan. The results include the thickest massive sulfide intercept to date underlain by gold rich stringer mineralization from the Main Zone Hinge, more gossan and massive sulfide intercepts from the Pinwheel Zone, and mineralized and altered rocks from a deep, stratigraphic test hole.
Highlights include:
Main Zone Hinge:
- 65.7 meters, estimated true thickness, of 6.5% zinc, 1.6 g/t gold and 31.0 meters, true thickness unknown, of 10.0 g/t gold, 65.4 g/t silver in LK-150.
- 58.5 meters, true thickness unknown, of 5.1 g/t gold in LK-148.
Pinwheel Zone:
- 14.2 meters, estimated true thickness, of 3.2 g/t gold, 31.5 g/t silver in gossan, and 7.5 meters, true thickness unknown, of 4.2 g/t gold, 24.3 g/t silver, in siliceous sediments in LK-143P.
- 11.0 meters, estimated true thickness, of 1.7 g/t gold 265.3 g/t silver, 1.1% copper in massive sulfides and gossan in LK-144.
Detailed results from these drill holes are shown in the tables below.
--------------------------------------------------
Main Zone Hinge Drill Results
--------------------------------------------------
All Intervals
in Meters Est.
------------- True g/t g/t % % %
Hole # From To Width Au Ag Cu Pb Zn Description
--------------------------------------------------
Main zone hinge
LK-148 95.6 154.0 58.5(i) 5.1 11.6 0.59 0.01 0.05 massive sulfide
---------------
Main zone hinge
includes 119.5 146.5 27.0(i) 7.7 11.4 0.70 0.01 0.03 massive sulfide
--------------------------------------------------
Main zone hinge
LK-150 99.3 165.0 65.7 1.6 20.7 0.31 0.04 6.95 massive sulfide
Main zone hinge
includes 145.5 165.0 19.5 2.7 11.8 0.02 0.07 13.04 massive sulfide
Stringer
165.0 196.0 31.0(i) 10.0 65.4 0.22 0.53 0.27 sulfides
Stringer
includes 169.0 175.4 6.4(i) 17.2 61.9 0.23 0.44 0.42 sulfides
--------------------------------------------------
Main zone hinge
LK-151 102.0 128.0 26.0 1.7 13.8 0.11 0.04 3.67 massive sulfide
Main zone hinge
128.0 193.1 65.1 2.6 16.9 0.69 0.02 0.31 massive sulfide
--------------------------------------------------
(i) drilled thickness, true width not known
--------------------------------------------------
Pinwheel Drill Results
--------------------------------------------------
All Intervals
in Meters Est.
------------- True g/t g/t % % %
Hole # From To Width Au Ag Cu Pb Zn Description
--------------------------------------------------
Pinwheel
LKI-135P 23.2 39.6 16.4 0.9 16.1 0.84 0.03 0.10 massive sulfide
--------------------------------------------------
Pinwheel
LK-138P 6.3 8.4 2.1 2.1 31.0 0.60 0.06 0.01 massive sulfide
--------------------------------------------------
LK-143P 6.1 20.3 14.2 3.2 31.5 0.08 0.20 0.01 Pinwheel gossan
Siliceous
32.3 39.8 7.5(i) 4.2 24.3 0.09 0.02 0.01 sediments
--------------------------------------------------
Pinwheel gossan
LK-144P 32.5 43.5 11.0 1.7 265.3 1.07 0.04 0.01 and sulfides
--------------------------------------------------
LK-145P 31.6 33.0 1.4 0.7 26.3 1.55 0.06 0.01 Pinwheel gossan
--------------------------------------------------
(i) drilled thickness, true width not known
--------------------------------------------------
Deep Test Hole
--------------------------------------------------
All Intervals
in Meters Est.
------------- True g/t g/t % % %
Hole # From To Width Au Ag Cu Pb Zn Description
--------------------------------------------------
Sulfide
stringers in
siliceous
LK-110 405.5 423.5 18.0(i) 0.1 3.6 0.03 0.04 1.27 sediments
--------------------------------------------------
(i) drilled thickness, true width not known
Drill holes LK-148, LK-150 and LK-151 intersected the Main Zone Hinge approximately half way between the near surface East and Pinwheel zones. LK-150, drilled fifty meters west of LK-148, returned one of the thickest zinc intervals to date, directly overlying a thick gold rich stringer zone for a continuously mineralized interval of 96 meters. LK-151, a 25 meter undercut of LK-150, encountered an estimated true thickness of 91.1 meters of massive sulfides. Together with previously announced results, the Main Zone Hinge has been traced along 200 meters of strike length between the East and Pinwheel zones, and remains open to the west.
Drill results from the Pinwheel Zone continue to define near surface gold and copper rich gossans and massive sulfides. The Pinwheel Zone remains open down dip to the northwest and along strike to the southwest and these areas of potential expansion will be targeted in future drill programs.
LK-110 was a 200 meter step out from the most south-westerly and deepest intercept of the Main Zone South Limb, and was designed to test the down plunge extension. The hole was terminated at 649.5 meters (the capacity for the drill) after encountering, and bottoming in a thick sequence of altered rhyolite crystal tuffs hosting an 18 meter section of siliceous sediments containing 1.27% zinc. This altered package of rhyolites and sediments is identical to the permissive stratigraphy which hosts the Main Zone and Tuff Zone massive sulfides and is considered an excellent indication of the down plunge potential and size of the system. This hole, as well as other deeper holes, are being probed with down hole pulse EM surveys to identify off hole targets for future drill testing.
Drill results up to the end of 2006 are being incorporated into an updated 43-101 compliant reserve/resource which is expected to be completed in the first half of 2007. Drilling at the Back Forty project is scheduled to resume in late January 2007.
An updated plan map showing hole locations is available at the Aquila website at www.aquilaresources.com/projects.php#map.
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.
