NEWS NEWS NEWS
April 25, 2007
Aquila Resources Inc.: Back Forty Mineral Resource Expands to 6.6 Million Tonnes Measured and Indicated and 1.75 Million Tonnes Inferred
TORONTO, ONTARIO--(CCNMatthews - April 25, 2007) - AQUILA RESOURCES INC. (TSX VENTURE:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today announced a new 43-101 compliant resource estimate for its Back Forty project in the Upper Peninsula of Michigan. The updated resource estimate contains 6.6 million tonnes in the measured and indicated category and 1.75 million tonnes in the inferred category, and more than doubles the previous inferred resource estimate of 3.1 million tonnes (DeMatties and Monroe August 2005).
The resource consists of massive sulfide, gossan, and stringer sulfide mineralization associated with the East Zone, Hinge and South Limb of the Main Zone, the Tuff Zone and Pinwheel Zone, but does not include mineralization associated with the Deep Zone, or gold mineralization associated with porphyry intrusion margins and the 90 Gold Zone.
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Measured + Indicated(i) Resource Summary
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Au Ag
Zone Tonnes Zn(%) (g/t) (g/t) Cu(%) Pb(%)
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Pinwheel Gossan 164,487 0.01 7.49 123.05 0.92 0.20
East Zone Gossan 67,816 0.01 21.79 8.49 0.03 0.03
Total Gossan 232,303 0.01 11.66 89.60 0.66 0.15
Main Zone Hinge and Main
Zone
South Limb Massive
Sulfide 4,094,671 6.58 1.83 18.59 0.25 0.16
Pinwheel Massive Sulfide 1,084,489 1.02 1.78 56.95 1.75 0.16
East Zone Massive Sulfide 957,451 5.64 2.75 17.51 0.40 0.07
Tuff Zone Massive Sulfide 269,381 7.00 1.44 57.25 0.06 1.74
Total Massive Sulfide 6,405,992 5.51 1.94 26.55 0.52 0.21
Total Measured and
Indicated 6,638,295 5.32 2.28 28.76 0.52 0.21
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(i) Mineral resources not classified as reserves do not have demonstrated
economic viability, and may be materially affected by environmental,
permitting, legal, socio-political or other factors.
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Inferred Resource(ii) Summary - Massive Sulfide, Gossan, and Stringer
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Au Ag
Zone Tonnes Zn(%) (g/t) (g/t) Cu(%) Pb(%)
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Pinwheel Gossan 4,820 0.01 26.34 103.30 0.23 0.11
East End Gossan 1,955 0.01 19.46 7.20 0.04 0.04
Total Gossan 6,775 0.01 24.35 75.57 0.18 0.09
Tuff Zone Massive Sulfide 585,600 6.62 1.89 63.01 0.06 1.74
Main Zone Hinge and Main
Zone 5,574 4.62 1.37 15.01 0.18 0.09
South Limb Massive
Sulfide
Pinwheel Massive Sulfide 0 0.00 0.00 0.00 0.00 0.00
East Zone Massive Sulfide 0 0.00 0.00 0.00 0.00 0.00
Total Massive Sulfide 591,174 6.60 1.89 62.56 0.06 1.72
Stringer Sulfides 1,156,123 0.58 3.17 16.74 0.19 0.09
Total Inferred 1,754,072 2.61 2.82 32.41 0.15 0.64
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(ii) Inferred resources are conceptual in nature and are based on limited
sampling, and will require additional exploration to upgrade to a measured
or indicated category. Mineral resources not classified as reserves do not
have demonstrated economic viability, and may be materially affected by
environmental, permitting, legal, socio-political or other factors.
The resource has a gross metal content as follows:
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Category Zn (lbs) Au (oz) Ag (oz) Cu (lbs)
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Measured + Indicated 778,832,573 486,457 6,138,022 76,174,327
Inferred 100,818,338 158,982 1,827,904 5,665,740
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The break down of the resource by zone shows important concentrations of gold and zinc in the near surface East Zone and gold, copper and silver in the near surface Pinwheel Zone, zinc in the Main and Tuff Zones and gold in the enveloping stringer sulfides. A map showing these zones and resource summary is available on the Aquila website.
With the exception of the East Zone, all zones are open to expansion, and ongoing drilling will target these potential expansions as well as further definition to increase confidence in the resource model. A second drill is being added to the project and drilling will continue throughout 2007.
Thomas O. Quigley President and CEO of Aquila stated "The updated resource is an important milestone for the Company. Significant portions of the resource including the gossan zones and East and Pinwheel massive sulfides are at, or very close to the surface, and recent down hole geophysics suggests potential extensions of deeper sulfides at depth. Our objective is to continue to aggressively explore the Back Forty Project and further expand the resource in 2007."
The resource was defined by 35,000 meters of drilling in 151 drill holes to generate a block model of mineralized zones defined by geologic boundaries unconstrained by cut off grades. Geo statistical techniques (kriging and/or inverse power of distance), and variography were applied to establish grades, continuity and resource category, resulting in 43% of the resource classified as measured, 36% indicated, and 21% inferred.
The resource update was prepared by Eric Chapman, P. Geol. of Datamine International, and reviewed by independent "Qualified Person" Theodore A. DeMatties, P. Geol., Geological Consultant, Cambridge Minnesota, using Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards on mineral resource classification and reporting. A National Instrument 43-101 compliant updated resource estimate technical report will be available on SEDAR within 45 days of this press release.
More information about Aquila Resources Inc. is available on the Aquila website at http://www.aquilaresources.com.
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.
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