The Back Forty Project in the Upper Peninsula of Michigan is an advanced stage exploration project delineating a zinc and gold-rich volcanogenic massive sulfide deposit under a joint venture agreement between HudBay and Aquila. Aquila owns a 49% interest in the project and HudBay owns a 51% interest, which HudBay can increase to 65% by funding and completing a feasibility study and permitting applications. HudBay is the operator of the Back Forty Joint Venture and Aquila continues to provide technical support. grinding soap stone marble calcium
AQUILA HUDBAY EXPLORATION ALLIANCE ACQUIRES PROJECTS
Aquila is also pleased to announce that two new projects have been acquired and exploration commenced under the Exploration Alliance with expenditures initially funded by HudBay (see project details below). A Geotech VTEM heliborne geophysical survey has been flown over both areas and preliminary data suggests potentially significant geophysical exploration targets at both. Both projects are considered prospective for high grade magmatic nickel copper PGE mineralization similar to the Eagle deposit, also located in the Upper Peninsula of Michigan (5.2 million tons of 3.68% nickel and 3.06% copper), which is currently under development by Kennecott Eagle Minerals – a U.S. subsidiary of Rio Tinto PLC.
Channel sampling averaged three metres spacing and 1.5 metres across the drifts and raises. The (strike) lengths of sampled segments totaled 726 metres. Raise sampling, to examine vertical continuity, totaled 140 vertical metres. The average widths in Table 1 (below) are true widths and represent the assay intervals at zero and 3 g/t gold cut-off grades. In areas of vein splits or where development is “off-vein”, mineralization may extend into the walls of the underground openings hence the stated widths are minimal. For example in the area of Segment 1 of the San Antonio vein set surface drill holes BUSY-11 and BUSY-31 respectively obliquely intersected 7.0m @ 88.3 g/t Au and 19.2m @ 79.7 g/t gold. Further sampling is being undertaken by “bazooka” drilling from the underground openings in such areas. 1000tpd clinker grinding unit
San Antonio vein set
This vein set has been the most extensively underground sampled to date, involving 569 metres of strike length partially over five levels through a vertical interval of 115 metres and also by sampling on several raises between these levels (Table 1, Figures 1 and Figure 2).
None of the securities to be issued by Cardero in connection with the Transaction have been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. impact crusher operational