Aquiline tests Nelson

Aquiline tests NelsonAquiline Resources (AQI-V) has received assay results from the first five holes sunk on the Nelson vein system at its Calcatreu gold-silver project in Argentina.

Results are as follows:

• Hole 190 – 12 metres (beginning 36 metres below surface) grading 3 grams gold and 20.3 grams silver per tonne;
• Hole 191 – 6 metres (from 36 m) of 5.7 grams gold and 9 grams silver;
• Hole 195 – 5 metres (from 15 m) averaging 3.4 grams gold and 42.1 grams silver;
• Hole 198 – 5 metres (from 33 m) grading 4.8 grams gold and 79.5 grams silver; and
• Hole 200 – 2 metres (from 87.5 m) running 1.6 grams gold and 15.1 grams silver.

The holes are part of Aquiline’s ongoing 12,000-metre drill campaign at Calcatreu; the company plans to test the structure with up to 80 holes.

Meanwhile, a second drill has also completed another 17 infill holes on the Vein 49 deposit immediately on strike to the north of Nelson.

Selected results include:

• Hole 184 – 9.9 metres (from 107.3 m) of 3.8 grams gold and 54 grams silver;
• Hole 186 – 17 metres (from 113.3 m) grading 2.7 grams gold and 34.7 grams silver;
• Hole 187 – 16.3 metres (from143.2 m) at 2.5 grams gold and 36.3 grams silver; and
• Hole 188 – 10.1 metres (from 149.7 m) of 2.8 grams gold and 60.8 grams silver.

The remaining holes generally returned slightly lower grades and widths; three of the holes came up dry. Aquiline says the reported widths represent about 90% of true widths.

In October, consulting firm Micon International pegged Calcatreu’s indicated resources at 1.4 million tonnes grading 5 grams gold and 39 grams silver per tonne. Another 4.5 million tonnes of inferred material runs 2.8 grams gold and 26.9 grams silver. The resource is contained in the Vein 49 and nearby Nelson low-sulphidation gold systems, with the bulk found in quartz veins in the oxidized portion of Vein 49. Aquiline believes Nelson and Vein 49 represent two separate systems.

Micon is currently updating its resource calculation in anticipation of an economic scoping study. Aquiline also plans to sunk up to 5,000 metres worth of drilling on eight other targets once the drilling at Nelson wraps up.