Aquiline lands Mexican copper

To diversify its property holdings, Aquiline Resources (VSE) has acquired options on three copper projects in Mexico.

The properties, which include the SJ, MDC and CLD, are easily accessible and feature good infrastructure, Aquiline notes.

SJ hosts three copper zones including a 500×200-metre breccia zone extending to a depth of at least 300 metres. Previous drilling returned grades of up to 0.7% copper over 130 metres.

Drilling on a second zone measuring about 300 metres long by 200 metres wide returned 1.17% copper over the first 40 metres of one hole and 0.49% over its 150-metre length.

On the third area, about 1.8 km away, underground channel-sampling returned an average grade of 0.97% copper from oxidized material.

Aquiline sees excellent exploration potential in the untested extension to the known zones, as well as in the discovery of new zones on the property. The MDC property was previously tested with one drill hole which returned an average of 0.88% copper from surface to a depth of 84 metres. Core drilling on both SJ and MDC have resulted in very poor recoveries in the oxide zone. Aquiline believes grades may have been understated in the previous drilling, all of which dates back to the 1970s.

The third property, CLD, covers a large alteration zone within a 5-sq.-km area of copper mineralization.

Aquiline President Irene Wilson says the company is reviewing exploration plans and budgets for the properties.

Confirmation and expansion of the zones will be the main objective of any work programs, with a goal to developing open-pit heap-leach copper deposits. Details of the option agreement as well as the exact location of the three properties have not been released. The company is looking at other ground in the area and does not want to attract undue competition, Wilson notes. Meanwhile, construction of the bulk-tonnage pilot plant and leach pads at the company’s Cieneguita gold project in northern Mexico is proceeding under the direction of Glamis Gold (TSE), which can earn a 60% interest by completing a feasibility study.