Aguila American samples 33.9 grams gold over one meter in artisanal workings, contracts more core Drilling Services Ltd.

Thursday, May 03, 2020

Aguila American Gold Ltd. (“Aguila” or the “Company”) (TSX VENTURE:AGL) – Mr. John Huguet is pleased to announce the Company has completed a trenching, geochemical sampling and mapping program covering an extensive zone of alteration and the sampling of 3 artesanal mine workings located along the strike of the mineralized Ferrobamba limestone contact.

In addition, the Company has engaged More Core Diamond Drilling Services Ltd. ( “More Core”) of Stewart, British Columbia, Canada to perform 7000 meters of core diamond drilling at its wholly-owned Angostura Gold project, 22 kilometres west of Xstrata’s US$4.2 billion Las Bambas copper project.

The Company selected More Core for its extensive experience in core drilling on very steep terrain with mid-sized, man portable, equipment, capable of delivering a larger diameter drill core product while meeting the Company’s negotiated mandate of an absolute minimum amount of surface disturbance. More Core is expecting to ship all necessary equipment, which is new and expressly modified to meet the Company’s criteria, from Vancouver, BC, next week. The equipment is also readily convertible for underground core drilling and available to the Company as it advances towards potential resource definition depending results from this initial surface core drilling campaign.

Aquila previously reported sampling from Zones 1 and 2 in the main oxide gold area. This release includes results from Zone 2 as well, the Feliciano Bedia workings, the working from Pit E which is 900 metres east north east of Zone 2 and from 3 workings located 600 metres west southwest of Zone 2 on the west side of the Angostura River within the Company’s Angostura Primera concession.

At the Feliciano Bedia workings, sampling returned highs of up to 33.9 grams/tonne Au over 1 metre with a weighted average of 11.4 grams/tonne Au over 9.2 meters of selective channel sampling spaced at various intervals along a working 29 metres in length appearing to be open above, below and to the east, when sampled in December of 2011, and generally following an east-west trending structure in the Ferrobamba-Formation (recrystallized limestone). The hanging and footwalls, where exposed, consist of recrystallized limestone with variable amounts of oxidized sulphides. The tunnel was sampled near the working face from a channel, chiselled across the roof of the tunnel. The first sample was taken at a point 28 metres from the mouth, then at 24.5 metres, 21 metres, 16 metres and at 12 metres from the mouth. Results are listed in Table 1 below.

Source: Marketwire