VANCOUVER (miningweekly.com) – TSX-listed project developer Aquila Resources has made a new discovery of gold and zinc mineralisation near its Back Forty project, in Michigan's Upper Peninsula.
The Toronto-headquartered company on Tuesday reported the assay results of two discovery holes of mineralisation that could potentially add to the resource base and mine life at Back Forty.
Aquila has drilled ten holes in its summer campaign that was designed to test extensions of known mineralisation and geophysical targets.
"We are very encouraged by initial assay results that suggest potential mineable widths and grades of massive sulphide at a considerable distance from the resource we are currently developing at Back Forty,” stated CEO Barry Hildred.
Among the exploration highlights were drill hole LK-16-515, which intersected a new lens of zinc-rich massive sulphide grading 4.9% zinc, 0.97 g/t gold, and 13 g/t silver over 8.43 m. The company noted that the true thickness is estimated to be about 80% of drilled thickness of the interval.
Aquila also encountered gold mineralisation in the hole directly above the massive sulphide, consisting of 2.78 m of 4.63 g/t gold and 39.28 g/t silver, giving a total thickness of gold and zinc mineralization of 11.21 m.
Drill hole LK-16-516 returned 13.02 m of 4.92% zinc, 0.81 g/t gold and 23.6 g/t silver in similar massive and semimassive sulphide. Aquila also advised that assays are pending for a third undercut below LK-16-516.
According to Aquila, the new zone of massive sulphides encountered in this drilling is 150 m from the last intercept of Pinwheel massive sulphides to the north-east, and 500 m from resources included in the current Back Forty mine plan, and is associated with a gravity and conductive trend that extends a further 600 m to the south-west.
Both Back Forty zones remain open along strike, and down and up dip, and down hole. Aquila said it is planning surface pulse electromagnetic surveys to help interpret extensions and trends to target in the next drilling phase.
PERMITTING UPDATE
Aquila also on Tuesday reported that it will submit a new updated wetlands permit to the Michigan Department of Environmental Quality that will address recent comments provided by the US Environmental Protection Agency and the US Army Corps of Engineers.
Aquila said it had met with all three agencies on September 13. The wetlands protection permit is the last permit required to build and operate the Back Forty project, subject to public comment periods closing on November 3 for its other permits.
The company expects that the resubmission of the wetlands permit will not affect its targeted development timelines for the Back Forty project.