Projects

Discovery and Historic Resource Copper Projects in North America

Sherridon (Manitoba) – Cu, Zn, Au, Ag

The Sherridon project lies within the Flin Flon/Snow Lake mining camp, one of Canada’s most notable Volcanic Hosted Massive Sulphide (VHMS) mining districts with nearly 100 years of mining history.  Sherridon lies 65 km northeast of the mining/metallurgical complex in Flin Flon, MB, linked by an all-weather 78 km road. The area represents a jurisdictionally safe source of copper that can be extracted in a socially and environmentally responsible manner.

Sherridon is home to the Sherridon/Sherritt Gordon mine, which closed in 1955 following production of approximately 7.74 million tonnes @ 2.46% Cu, 2.84% Zn, 0.6 g/t Au and 33 g/t Ag. In addition, the project is host to several historic indicated and inferred mineral resources including Bob, Cold Lake, Lost Lake, and Jungle. Numerous near-surface targets based on geological mapping, geophysics, and geochemistry have been identified with no or little drilling.

Aguila hold an Option agreement with Halo Resources Ltd to earn up to 90% of 28 Mining Claims and 1 Mineral Lease totalling 4968 Ha. Royalty agreements are in place with underlying licence holders.

Cora (Arizona) – Cu, Mo, Au

The Cora project lies 75km NNE of Tucson, within the heart of the southern Arizona copper belt. The project is 100% owned by Aguila, secured by 46 granted BLM lode mining claims covering a total of 3.84 sq km. Many of North America’s largest copper mines and development projects lie within 100km of Cora, including Ray, Miami, Resolution, Florence and Silver Bell.

Original exploration company records held by the Geological Survey of Arizona indicate past drilling at Cora intersected oxide copper mineralization over widths in excess of 100m, beneath shallow alluvial cover, over an area of at least 1km by 1km. Intervals include:

  • DH5: 99.7m (327ft) @ 0.28% Cu, below 10.7m of alluvial cover (California Steel Co., 1950s)
  • DH4: 39.6m (130ft) @ 0.38% Cu, below 47.2m of alluvial cover (California Steel Co., 1950s)
  • DH1: 225.5m (740ft) @ 0.29% Cu, below 42.7m of alluvial cover (California Steel Co., 1950s)

Geological logs from holes drilled by Magma Copper Co. immediately west of Cora, indicate copper mineralization may be associated with highly altered, possible Laramide aged intrusions, consistent with a potential porphyry copper setting and analogous to many large copper deposits in Arizona.

Aguila is now compiling historical data and preparing for geochemical sampling and geophysics prior to drilling. Historical drilling intercepts suggest the project is drill ready.

Lida (Nevada) – Cu, Ag

The Lida project lies in south-central Esmeralda County within the richly gold and copper endowed Walker Lane Mineral Belt. The project was identified by the Company in a generative program and is 100% owned via 33 granted BLM lode mining claims covering a total of 2.75 sq km. The site is easily accessed by two wheel drive vehicles utilizing existing access.

Lida was prioritised as a target by Aguila due to the association of widespread surface copper mineralization with a discrete magnetic high.  This signature is similar to most major mineralization systems within the Walker Lane belt.  Recent site visits by Aguila have demonstrated that many of the 100’s of prospecting pits across an area of 2km x 2km expose extensive oxide copper within fault structures and quartzite.  The area of prospecting pits is constrained to the immediate north, south and east of Lida by shallow cover.

The most recent exploration documented at Lida was by Conoco Inc in the 1970s, who identified a large IP anomaly, covering 2km by 500m, underneath the copper mineralised area. Shallow drilling failed to test the target or penetrate the Campito Formation to more prospective carbonate host rocks.

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