Sep 20, 2007 01:00 ET
Drill Hole LK-180 Hits 169 Meters of Continuous Mineralization
Drilling Also Outlines Potential Major Expansion of the Main Zone Massive Sulfide
TORONTO, ONTARIO--(Marketwire - Sept. 20, 2007) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today announced that drilling of the Main Zone Hinge has intersected 169 meters of continuous mineralization in drill hole LK-180. Significant zinc, copper, gold, and silver values were intersected as the hole encountered three principle zones of mineralization. The Company also announced that drilling deep below the Pinwheel Zone has intersected a potential major extension of massive sulfides at depth.
Results include:
--------------------------------------------------
All
Intervals
in Meters Est.
---------- True g/t g/t % % %
Hole # From To Width Au Ag Cu Pb Zn Description
--------------------------------------------------
LK-170 No Significant Values
--------------------------------------------------
LK-176 137.5 140.4 2.9 50.17 100.71 0.12 1.00 7.15 Hinge massive
sulfide
140.4 170.7 30.3 0.95 9.19 0.17 0.13 11.71 Hinge massive
sulfide
including 149.5 167.5 18.0 0.99 10.47 0.20 0.12 16.64 Hinge massive
sulfide
197.8 199.5 1.8(i) 4.61 107.71 0.14 1.27 0.44 PM Gold Zone
210.8 215.5 4.8(i) 3.62 254.84 0.15 5.07 0.20 PM Gold Zone
218.7 254.0 17.0 1.19 16.27 0.24 0.15 11.71 South Limb
massive sulfide
264.5 309.5 45.0 0.94 10.87 0.03 0.60 1.39 Altered
Rhyolite w/
stringers
--------------------------------------------------
LK-179 135.8 196.5 60.6 0.74 10.08 0.29 0.18 6.40 Hinge massive
sulfide
including 135.8 171.6 35.8 0.72 10.46 0.06 0.22 10.75 Hinge massive
sulfide
196.5 225.4 28.9(i) 1.04 11.84 0.84 0.07 0.04 Stringer
sulfides
including 219.0 225.4 6.4(i) 3.04 31.32 2.01 0.04 0.07 Stringer
sulfides
--------------------------------------------------
LK-180 138.4 307.4 169(i) 1.45 11.44 0.42 0.09 1.48 Hinge massive
and stringers
including 138.4 174.0 35.6 0.17 14.13 0.10 0.15 6.89 Hinge massive
sulfide
including 138.4 145.5 7.1 0.31 30.10 0.06 0.17 19.01 Hinge massive
sulfide
including 174.0 191.5 17.5(i) 0.43 31.32 2.01 0.13 0.12 Stringer
sulfides
including 250.0 305.0 55(i) 3.32 7.70 0.29 0.07 0.02 Stringer
sulfides
381.5 392.5 11(i) 8.28 53.64 0.11 0.58 0.01 PM Gold Zone
392.5 415.5 23.0 1.69 23.14 0.98 0.14 0.08 Deep Zone
massive sulfide
--------------------------------------------------
LK-183 418.5 454.5 36.0(i) 1.19 18.97 1.03 0.06 0.05 Deep Zone
stringer
sulfides
including 419.5 430.0 10.47(i) 2.01 27.56 1.76 0.06 0.09 Deep Zone
stringer
sulfides
--------------------------------------------------
(i)Drilled thickness, true thickness unknown
The holes tabulated above were a fan of holes on Section 435125E designed to intersect and better define four mineralized zones in this area. The drilling will have positive implications for the expansion of the massive sulfide resource at the project, as well as the potential for primary gold mineralization.
Main Zone Hinge
The Main Zone Hinge is a wide zone of primarily zinc rich massive sulfides with underlying stringer copper and gold mineralization. Drilled widths in this area are consistently wide, and included 60.6 meters of 6.4% zinc in LK-179. Gold enriched massive sulfides (2.9 meters of 50.1 g/t gold) were encountered in the upper portion of this hole. Underlying the Main Zone Hinge massive sulfide, mineralized stringer sulfides were encountered including 55.0 meters of 3.3 g/t gold and 6.4 meters of 2.01% copper and 31.3 g/t silver.
PM Gold Zone
The PM Gold Zone is a zone of porphyry margin gold mineralization. PM Zone gold mineralization included 4.75 meters of 3.62 g/t gold and 254.8 g/t silver in LK176 and 11.0 meters of 8.2 g/t gold and 53.5 g/t silver in LK-180. PM Zone gold mineralization in LK-180 appears to be an extension of a previous intercept in drill hole 108431 (27.5 meters of 5.1 g/t gold) 40 meters to the south. More drilling is required on this zone to determine its strike and continuity. These results are considered very encouraging. A program of drilling targeting primary gold mineralization related to the PM Zone as well as the 90 Gold Zone remains to be completed at the Back Forty.
Main Zone South Limb
The South Limb massive sulfide is the down dip extension of the Main Zone Hinge on the south side of the central quartz feldspar porphyry which hosts the PM Gold Zone. This massive sulfide is primarily zinc rich as evidenced by the intercept in LK-176 that encountered 17 meters of 11.7% zinc.
Deep Zone
The Deep Zone underlies massive sulfide and stringer mineralization of the Main Zone Hinge, and includes copper, zinc, gold and silver enriched massive and semi massive sulfides. New intercepts in the Deep Zone in LK-183 included significant thicknesses of gold, silver and copper mineralization. The Deep Zone is the target of further definition at depth and remains open to expansion.
New Mineralization
Drilling has intersected previously unidentified zinc rich massive sulfides at depth in the down plunge direction of both the Main Zone Hinge and Main Zone South Limb. Two step out holes on the Pinwheel Zone, which showed significant footwall alteration, were extended and intersected 12 and 7 meters of zinc rich massive sulfides in an area devoid of drill testing. The new intercepts are 60 meters to the west and 45 meters north from the nearest massive sulfide intercept and may represent a significant western strike extension of the Main Zone South Limb. Assay results for these as well as other pending holes will be reported when completed.
An up to date plan map of completed and pending holes is available on the company's website at
http://www.aquilaresources.com/projects.php#map Sample preparation and analyses for this release were conducted by Accurassay Labs in Thunder Bay, Ontario on split drill core supplied by Aquila. Standards were inserted in the sample sequences with check assays and re-run's routinely conducted. Tom Quigley, P.Geo. and President of Aquila is the Qualified Person as described in National Instrument 43-101 for the Back Forty Project and is responsible for the content of this press release.
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The securities being offered have not and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws, and may not be offered or sold within the United States or to or for the account of benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to purchase securities in the United States.
Shares Outstanding: 70,109,478
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the contents of this release.
For more information, please contact Aquila Resources Inc. (Toronto)
Robin Dunbar CFO (416) 203-1404 Email: info@aquilaresourcesinc.com
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