Vancouver – Recent drilling by Aquiline Resources (AQI-T) has returned a 9-metre intersection grading 12 grams gold and 81 grams silver per tonne from the new Castro Sur discovery in the Calcatreu district of Argentina’s Rio Negro Province.
The Castro Sur discovery is situated about 5 km from the company’s Vein 49 gold-silver system, which along with the nearby Nelson vein system host the bulk of resources defined to date at the Calcatreu project. At last report (Oct. 2004), the measured and indicated resource was 6.15 million tonnes averaging 3.04 grams gold and 28.1 grams silver, with another 1.86 million tonnes of 2.10 grams gold and 19.4 grams silver in the inferred category.
An independent feasibility study for a proposed open-pit mine is expected to be tabled shortly, and will include results from recent metallurgical test-work. The project also hosts other outcropping epithermal gold-bearing vein systems that are yet to be fully explored.
While the strike and down-dip extent are yet to be determined, the new Castro Sur discovery lies within a prominent, northeast-trending fault-controlled structure that has been traced for more than 3 km. Recent drilling has focused only a small 300-metre segment of the structure.
Other selected intercepts from recent drilling are: 7 metres of 4.73 grams gold and 136 grams silver; 12 metres of 5.28 grams gold and 36.7 grams silver; 3 metres of 5.96 grams gold and 37.3 grams silver; 16 metres of 1.06 grams gold and 10.3 grams silver; 8 metres of 1.91 grams gold and 15.7 grams silver; and 7 metres of 1.21 grams gold and 21.5 grams silver. True widths have yet to be determined, but all intercepts occurred at shallow depths.
Aquiline notes that Castro Sur is a new discovery made by its geological team after reviewing previously compiled geophysical data and carrying out a rock-chip geochemical sampling program that returned grades ranging from 0.5 gram gold up to 5 grams over several kilometres of favorable strike length. Drilling is ongoing to better determine the extent of the new discovery.
Aquiline has other projects in Argentina, and is also awaiting a court decision relating to its legal dispute with Ima Exploration (IMR-V, IMXPF-O)) over ownership of the Navidad high-grade silver project in Chubut Province.
Be the first to comment on "Aquiline confirms New Castro Sur discovery"