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Gold/Mining/Energy : Aquiline Resources (AQI-V)
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To: Laser who wrote (15)4/18/1997 12:18:00 AM
From: James N. Wilson   of 23
 
Phase 1 program to commence at La Jojoba gold property

Leonard,

Things might be heating up over the new few months for Aquiline.

AQI-V New Release - April 17, 1994

Aquiline Resources and Hecla Mining announce that a phase 1 program has been approved and is scheduled to commence at Aquiline's La Jojoba gold property in the Magdalena mining district, state of Sonora, northern Mexico. Hecla will manage work on the property and an experienced team has been assembled to complete due diligence and continue with geological surveys, trenching and check assays in preparation for a US$1.1 million exploration program to be carried out
over the next few months.

The first stage of the 1997 program includes diamond drilling of six holes to an average depth of 100m to obtain an understanding of the structural geology favouring concentration of gold in economic quantities within the 1,120 hectare La Jojoba claim block. Core drilling is planned to be followed by approximately 50 reverse circulation holes totalling 5,000m.

As previously reported, ore grade intersections over significant widths were encountered in more than 70 holes drilled between 1989-1996 by earlier operators within a 600m long by 200m wide NE zone. The 1997 drilling will test extensions of mineralization found in the NE zone and at least three additional areas with potential to significantly expand and increase the reserve potential of La
Jojoba. Hecla can earn a 60% interest in La Jojoba and a definitive agreement will provide for a new Mexican company to be formed for joint development of the La Jojoba deposit upon Hecla exercising its option.
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