What is the history of Aguila Copper Corp?
Aguila Copper Corp was originally incorporated in the 1980’s as a Vancouver based mineral exploration company. Aguila, as Brazilian Goldfield Ltd and Aguila American Gold Corp, found success with various exploration projects in South America, with a particular focus on Peru.
Following the unexpected passing of former CEO Mr John Huguet in 2017, the Company was restructured and recapitalized. During 2020, the current management team was placed to seek new projects, with a particular focus on metals to support the energy transition.
So Aguila is not standing still and is seeking to play a leadership role in discovery and development.
What does the name mean?
Aguila is Spanish for “eagle”, chosen to represent the birds that soared over the Company’s former South American projects, and the American Eagle coins that are the official gold and silver coins of the US and recognised as a long term store of wealth and value.
Why the focus on North America?
The Aguila management team is acutely aware of the demand on raw material supply chains that are the result of the rapid shift to renewable energy and electric transport. The essential shift from oil, gas and coal has created unprecedented demand for copper, nickel, lithium and rare earth elements.
Production of these materials is required in a large volume if we are to respond to the climate crisis. To gain positive environmental outcomes, however, this metal production needs to be in a setting where the impact of mining can be minimised. Active mining regions with a high degree of transparency, that are situated close to the industrial customers of metals, are the ideal settings and have been targeted by Aguila for its operations.
Copper is important to Aguila, reflected in the recent name change. Why is this?
Copper sits at the centre point of the energy, information, and technology transitions. This underpins very strong demand drivers that are seeing consumption grow at around 4% each year. Copper is ideally placed to benefit from the upsurge in demand from electric vehicles and renewable energy.
A hybrid car uses 40 kilograms of copper, twice that of an ICE vehicle while an EV uses even more copper – about 80 kilograms. Thanks to strong policy support and major technical improvements, wind and solar power generation have increased nearly 50-fold since 2000.
Aguila is building a portfolio which means we are well placed to support increased copper demand in a sustainable manner.
What deposit styles are targeted by Aguila?
Our current exploration strategy targets porphyry, skarn, VHMS and sedimentary hosted copper deposits. These deposit styles are the major suppliers of copper today and are well represented in North America.
Our targeting strategies are identifying opportunities in both mature and lesser-known terranes. While we have an attractive historical resource base in Manitoba, we are also focused on earlier stage exploration which has the highest potential to deliver high-multiple returns.
Sherridon in Manitoba is Aguila’s flagship copper project. What makes that such an exciting property?
Sherridon lies in the Flin Flon/Snow Lake VHMS district, well known as a highly prospective and fertile district with more than 50 deposits and 100 years of continuous mining. The deposits are copper and zinc rich, and are regularly associated with high grades of gold and silver.
The Sherridon camp was mined until 1955, where around 8 million tonnes of ore was produced from two main mines. In addition, there are four historical resources, calculated in 2010 by former owner Halo Resources Ltd, all beginning at or near surface and open at depth. The site has not seen exploration for more than a decade, and the opportunity to utilize new exploration techniques is very exciting.
The site lies less than 70km from each of Snow Lake and Flin Flon, allowing all year-round access and exploration.This greatly reduces the exploration cost and burden to support remote locations.
Manitoba is an infrastructure rich province, that is very supportive for mining. The ability to access hydroelectric power will enable Aguila to commit to very low CO2 emission in the production of copper. Aguila looks forward to become a long term contributor to the communities in which we operate.