The latest batch of reverse-circulation drill results from Aquiline Resources (AQI-V) includes the best ever hole from the Calcatreu gold project in Rio Negro Province, Argentina.
Hole 136, collared on the little-tested northeast portion of the Vein 49 zone, returned 18 metres (beginning 5 metres below surface) running 16.4 grams gold and 36.1 grams silver peer tonne.
The hole was one of 13 angled holes sunk as part of the initial phase of a planned, four-phase 12,000-metre program of infill drilling on the property. So far, Aquiline has sunk some 3,292 meters in 32 holes, including some core holes.
Other highlights include hole 126, which returned 12 metres (from 22 m) grading 7.7 grams gold and 19.8 grams silver, and hole 138, which included a 10-metre section of 10.6 grams gold and 200.1 grams silver, beginning at a depth of 47 metres.
The remaining holes generally run 1-9 grams gold and 10-60 grams silver over widths from 1 to 60 metres. Aquiline says the result confirm the extension of a shallow, high-grade zone previously outlined further to the north.
In October, Micon International pegged indicated resources contained in the Vein 49 and nearby Nelson low-sulphidation gold systems at 1.37 million tonnes running 5 grams gold and 39 grams silver per tonne. Another 4.5 million tonnes of inferred material grades 2.8 grams gold and 26.9 grams silver. Most of the resource is contained in quartz veins in the oxidized portion of Vein 49.
An update resources estimate at Calcatreu is expected in the coming weeks.
Drilling on the Amistad, Viuda de Castro and Nabel targets elsewhere on the property will begin in mid-January. The previous property owner Normandy Mining (later swallowed up by Newmont Mining [NEM-N]) turned up 11 epithermal vein systems during the late 1990s. An induce polarization survey is also planned for the areas surrounding the main vein systems.
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