Aguila American Resources
Ltd. ("Aguila") or (the
"Company") - TSX-V: AGL - Mr. John Huguet
is pleased to announce 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
Trench
|
Width
Metres
|
Gold
g/t
|
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
Trench
|
Width
Metres
|
Gold
g/t
|
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
For further information:
Damien Lowry,
Contact Vancouver Head Office
#1189, 789 W. Pender Street Vancouver, B.C. V6C 1H2 Canada
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
|