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Aquila Resources Inc.
Summary
| Project: | Back Forty | |
|---|---|---|
| Deposit: | Back Forty | |
| Location: | United States | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 9/27/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-9-2016: Aquila Resources Inc. announces an Exploration/Drilling Update report for its Back Forty deposit at the Back Forty project. Drilling results incl. 11.21m @ 1.88g/t Au, 19.52g/t Ag, 0.18% Cu, 0.15% Pb, 3.97% Zn from 63m. TORONTO, ON – September | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Thomas O. Quigley (Internal) | |
| ABSTRACT: | TORONTO, ON – September 27, 2016 - Aquila Resources Inc. (TSX: AQA) (“Aquila”), a development-stage company announced today it has discovered a new mineralized zone at its gold- and zinc-rich Back Forty Project in Michigan’s Upper Peninsula and provided preliminary drill results from the discovery holes. A total of ten drill holes were completed with the goal of testing extensions of known mineralization and geophysical targets in proximity to the known resource at Back Forty. Assay results for two of the ten holes have been received. “We are very encouraged by initial assay results that suggest potential mineable widths and grades of massive sulfide at a considerable distance from the resource we are currently developing at Back Forty,” said Barry Hildred Aquila’s CEO. “The results provide the potential to add to the resource base and mine life at Back Forty.” Drill hole LK-16-515 was designed to test a gravity anomaly along the southwest trend of the Pinwheel zone and intersected a new lens of zinc-rich massive sulfide grading 4.9% Zn, 0.97g/t Au, and 13 g/t Ag over 8.43 meters*. Gold mineralization was also encountered in the hole directly above the massive sulfide consisting of 2.87 meters* of 4.63 g/t Au and 39.28 g/t Ag giving a total thickness of gold and zinc mineralization of 11.21 meters* (see table below for overall composited grades). LK-16-515 also encountered an additional zone of gold mineralization at 25 meters and a deeper zone of zinc, lead, and silver mineralization at a depth of 156.5 meters in siliceous, tuffaceous sediments. LK-16-516 was a follow up, undercut of LK-16-515 and intercepted the massive sulfide horizon approximately 25m below the LK-16-515 intercept. The massive and semi massive sulfide in LK-16-516 returned 13.02 meters* of 4.92% Zn, 0.81 g/t Au, and 23.6 g/t Ag in similar massive and semi massive sulfides. | |
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