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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (26445)	1/6/2004 11:16:59 AM
From: austrieconomist	Respond to of 39344

AQI drill results. Haven't seen these posted here before. Look very encouraging to me, high grade (one as much as 16 g gold, one as much as 200 g silver), decent intervals (one as wide as 18 m), most shallow, less than 50 m, and, while in-fill in nature, even better results than expected. Aquiline releases assays from Calcatreu project Aquiline Resources Inc AQI Shares issued 22,804,678 Jan 2 close $1.18 Mon 5 Jan 2004 News Release Mr. Marc Henderson reports AQUILINE DRILLING PRODUCES BEST HOLE EVER AT CALCATREU - 18 METERS @ 16.4 G/T AU, 34.1 G/T AG - WITHIN NEWLY DEFINED HIGH GRADE ZONE AT VEIN 49. DRILLING TO RESUME JANUARY 12TH, 2004 Aquiline Resources has received further assay results from its drilling program on the Calcatreu gold project located in Rio Negro province, Argentina. Final assay results have been received for a further eight reverse circulation drill holes, all of which were drilled between 5650 north and 5900 north, an area which prior to this had received little drilling. Results from this area are excellent, with high gold and silver values returned over significant widths in most of the holes reported. The highlights from this batch of results include the single best drill hole ever drilled at Calcatreu -- AQI-136, which returned 18 metres at 16.4 grams per tonne gold and 34.1 grams per tonne silver (60 feet at 0.53 ounce per ton gold) -- as well as hole AQI-138, which returned 10 metres at 10.6 grams per tonne gold and 200.1 grams per tonne silver. Below are the results from the next eight drill holes. Len. From To Int. Au Ag Hole (m) (m) (m) (m) g/t g/t AQI-124 60 24 33 9 1.3 35.8 AQI-126 50 22 34 12 7.7 19.8 AQI-133 90 54 60 6 2.5 36.9 AQI-136 126 5 23 18 16.4 36.1 AQI-137 52 1 28 27 7.0 31.2 AQI-138 90 47 57 10 10.6 200.1 AQI-139 40 6 9 3 1.5 10.0 90 56 61 5 3.4 36.8 Note that the above intersections have been calculated with a 0.5-gram-per-tonne cutoff. In commenting on the results, Martin Walter, vice-president of exploration, stated: "We are very pleased with the progress of our ongoing drill program at Calcatreu. The latest results confirm the existence of an additional near-surface high-grade zone of mineralization within vein 49, and will have an obvious positive impact on potential project economics at Calcatreu." "From a technical standpoint," he continued, "the drilling has proceeded very smoothly to date, with 3,292 metres completed in 32 drill holes. All of this drilling was infill in nature but with less than a third of the proposed four-phase, 12,000-metre program complete, the most exciting phases of the program still lie ahead. Drilling will resume on Jan. 12, and subsequent phases of the program will see exploration targets such as Amistad, Viuda de Castro and Nabel tested. These are all excellent drill targets, detailed descriptions of which can be found in the independent technical report compiled by Micon International Ltd. and filed on SEDAR." Aquiline has implemented a quality control program to ensure best practice in chemical sampling and analysis of surface and drill core samples. All samples were transported from Aquiline's field office in Jacobacci under independent supervision to ALS Chemex Laboratories in Mendoza, Argentina. The company's consultant, Ironbark Geoservices SRL, is providing technical management to the project, and has a supervising geologist on-site at all times while work is being carried out. Under the guidelines of National Instrument 43-101, the required qualified person for the Calcatreu gold project is Peter Mullens, who is a member of the Australian Institute of Mining and Metallurgy.