Aquila Resources has declared the remaining results of the 2012 drilling program carried out at the Reef Gold project, located in Marathon County, Wisconsin. The program has successfully defined the preliminary framework for an open pit resource estimate and also discovered further gold mineralization expansions at the Reef area.
Significant gold mineralization was intersected in holes R12-38 and R12-40 through the company’s drilling program. Aquila encountered 2.80 g/t gold over 65.23 m, 0.44% copper and 13.14 g/t gold over 8.88 m in hole R12-38; and 1.53 g/t gold over 94.56 m, 14.89 g/t gold over 3.90 m, and 6.15 g/t gold over 6.78 m in hole R12-40.
The company encountered mineralized gold in sheet-like and stacked quartz veins in holes R12-38 and R12-40. The thickness and nature of these intercepts show the exceptional potential for exploration along strike towards the northeastern part and also forms continuity with equivalent trending historic zones towards the northern part.
R12-38 was specifically drilled near a high-grade historic Noranda drill hole and validates the occurrence of mineralized zone. Mineralization stays exposed down dip and along strike towards the northeastern part. Follow-up of this intercept will gain top priority for upcoming drill program.
The company drilled the hole R12-40 on the Reef core region’s southwestern most fence and this hole shows a 140 m down dip step out of previous hole RF87-15. Mineralization is exposed along strike and down dip from this intercept.
Aquila has drilled 42 diamond holes, totaling about 4,400 m at the Reef area. The 2012 drilling campaign validated the existence of broad mineralization of copper and gold, within undrilled parts of loosely defined zones.
The company is making preparations for a third exploration drilling round for the future winter season. This round may include further infill drill program within the Noranda zones and continued step out drill program towards the eastern and southwestern parts of the profile drilling completed during 2011 summer season.