Vancouver,
British Columbia - Aguila American Resources Ltd.
("Aguila") or (the "Company")
- TSX-V: AGL - Mr. John Huguet Reports:
The company has completed a reconnaissance geological mapping and rock
geochemical sampling along a mineralized and brecciated
zone of limestone near the small-scale mining operations under the
supervision of Mr. James A. McCrea, P. Geo. Nineteen samples were
collected from iron-manganese ,oxidized ,brecciated and/or silicified host rocks along the
mineralized structure that is exposed by road cuts and various underground
workings. Thirteen samples were collected along a 150-metre section
spanning the east-northeasterly trending Zones 1 and 2. The
analytical results from these thirteen samples have been tabulated as
follows:
Sample
|
Area
|
Length
|
Gold
|
No.
|
Type
|
(m2)
|
(m)
|
(gpt)
|
20503
|
Panel
Chip
|
2.00
|
|
2.457
|
20506
|
Chip
|
|
1.75
|
7.450
|
20507
|
Panel
Chip
|
2.00
|
|
16.000
|
20508
|
Chip
|
|
2.25
|
0.417
|
20509
|
Chip
|
|
1.50
|
1.249
|
20510
|
Chip
|
|
1.50
|
4.977
|
20511
|
Chip
|
|
0.70
|
0.957
|
20513
|
Chip
|
|
1.40
|
5.020
|
20515
|
Panel
Chip
|
2.50
|
|
4.363
|
20516
|
Panel
Chip
|
2.00
|
|
8.750
|
20517
|
Panel
Chip
|
2.35
|
2.35
|
4.549
|
20518
|
Chip
|
|
2.20
|
2.923
|
20519
|
Grab
|
1.50
|
|
5.500
|
The
Angostura Property is comprised of
eight concessions which cover the main portion of the Angostura Gold
Prospect. The project is located in southern Peru in the Department of
Apurimac, approximately 430 kilometers southeast of Lima and 180 kilometers
southwest of the city of Cuzco, and can be reached along paved highways and
gravel roads. An electrical power grid line passes through the property.
There are significant advanced exploration projects and producing mines in
the general vicinity of the Angostura property such as the large Las Bambas copper-gold-molybdenum project and Tintaya copper-gold mine belonging to Xstrata Plc.,
situated 25 km to the east and 140 km to the southeast respectively, and
the Santa Rosa gold mine belonging to Andean American which is situated
approximately 20 km to the south.
The geological model for the mineralization on the Property is similar to
that of many gold deposits in Nevada, U.S.A. where the gold mineralization
is hosted by collapsed, brecciated and replaced
limestone as a result of early decarbonatization
by acidic hydrothermal fluids focused along faults, followed by the
collapse and brecciation of limestone, gold
precipitation, and late-stage silicification and
barite deposition.
According to a
technical report prepared for the Company by Mr. Victor A. Jaramillo, P.
Geo., titled �The Angostura Property Technical Report and dated November
30, 2006, five mineralized zones have been identified on
the Property. Of them, Zone 1 is approximately 150 meters long and
has an average width of 30 meters.. Zone 2
is located to the east of Zone 1 and has a defined width of 75 metres with an average grade of 3.64 g/t Au.
Oxide structures have been identified approximately 2,100 meters to the
west, and 2,700 meters to the east of Zone 1 resulting in a strike length
of close to 5 km. A potential tonnage for the mineralized gold
-bearing structure has been estimated to be in the range of 45 to 90
million tonnes with grades ranging between 1.0 to
3.0 g/t Au (the potential quantity and grade is conceptual in nature there
has been insufficient evidence to support a mineral resource and it is
uncertain if further exploration will result in a discovery or mineral
resource). Forty-seven trenches and pits 1 meter deep and 10
meters long have been dug and sampled with grades ranging from 1.29 g/t Au
to 8.19 g/t over 3 metres, including 5.45 g/t Au
over 17.50 metres (Jaramillo, 2006).
Selected gold sample result highlights from historic sampling (with true
widths) included:
West of Angostura
Creek
|
Width Metres
|
g/t
Gold
|
T-1W
|
6.0
|
1.21
|
T-3W
|
3.50
|
3.19
|
T-6AW
|
3.30
|
2.60
|
T-11W
|
8.00
|
2.37
|
T-12W
|
8.00
|
3.48
|
T-13W
|
5.00
|
1.86
|
East of
Angostura Creek
|
Width Metres
|
g/t
Gold
|
T-BE
|
2.40
|
2.69
|
T-4E
|
8.40
|
2.77
|
T-13E
|
5.00
|
1.63
|
T-15E
|
3.00
(zone 2)
|
5.45
|
T-16E
|
17.50
(zone 2)
|
5.24
|
T-17E
|
3.00
(zone 2)
|
8.19
|
Mr. James A.
McCrea., P. Geo., a qualified person as defined by NI 43-101, reviewed this
news release and approves all scientific and technical disclosure.
On behalf of the
Board of Directors,
"John
Huguet"
John Huguet
President & CEO
Aguila American Resources Ltd
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
|