Aquiline Resources Inc.
TSX : AQI

Aquiline Resources Inc.

January 30, 2008 11:29 ET

Aquiline's Loma de La Plata Continues to Expand as Navidad Drilling Shifts to a Broader Exploration Focus

TORONTO, ONTARIO--(Marketwire - Jan. 30, 2008) - Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI) is pleased to report on the results of 49 diamond drill holes at its Navidad Project in Chubut Province, Argentina drilled subsequent to the November 2007 cut-off for the Resource Estimate (Snowden Mining Industry Consultants, December 2007). These results include holes up to December 4, 2007 with ten more holes awaiting assays. The drilling objective is shifting to a higher proportion of holes outside the resource envelope (25 of 49 holes) as the technical team continues to refine their interpretation of the geological model. The 49 holes totaled 11,886 metres contributing to a database of 638 holes over 108,479m, of which Aquiline has drilled 44% of the total metres in 273 holes. The holes were distributed as follows:

Loma de La Plata 23; Calcite NW 1: Calcite NW (North flank) 1; Valle Sauzal 2; Esperanza 5; Valle Esperanza 2; Barite Hill 4; Marcasite Hill 3; Marcasite Hill East 2; Calcite Hill (North flank) 6

Only three of the holes failed to encounter mineralization, with all holes and location maps accessible on the Company website. Highlights are as follows:



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COMPO-
DRILLHOLE LOCA- LOCAL LOCAL FROM TO SITE Ag Pb AgEq
TION EAST NORTH (metres) (metres)LENGTH g/t % G/T
(metres)(LWA) (LWA) (LWA)
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NV07-602 Loma de 47,756 7,483 37.00 52.00 15.00 829 0.21 837
la Plata
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Including 38.80 47.30 8.50 1366 0.04 1,368
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NV07-605 Loma de 47,931 7,590 129.04 166.00 36.96 166 -0.01 166
la Plata
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Including 129.04 148.00 18.96 211 -0.01 211
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Including 154.00 155.40 1.40 874 -0.01 874
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And 189.75 196.00 6.25 63 2.07 145
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NV07-609 Loma de 48,095 7,688 184.00 215.10 31.10 613 -0.01 613
la Plata
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Including 199.00 212.80 13.80 1268 -0.01 1268
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NV07-611 Loma de 48,190 7,735 211.98 227.30 15.32 723 0.52 744
la Plata
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Including 221.24 225.60 4.36 2,388 1.17 2,435
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NV07-628 Valle 50,752 9,197 207.23 215.55 8.32 495 0.19 502
Esperanza
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Including 212.81 215.55 2.74 1210 0.23 1,219
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And 228.00 236.26 8.26 97 0.24 107
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The results demonstrate that Loma de La Plata continues to expand, particularly toward the East (see NV07-611) and to a lesser degree toward the Northeast. Infill drilling was conducted near the northern boundary of the resource envelope to bring drilling density to approximately 50m spacing, which as a rule of thumb at Navidad, has been sufficient for the designation of the indicated category in the resources estimate.

Two holes were drilled in Valle Esperanza, where 8 holes have been drilled to date. Previously drilled hole NV07-456 returned values of 7.5 metres @160g/t silver in an area coincident with a broad IP anomaly. Drill hole NV07-624 was drilled 100 metres to the North-Northeast of NV07-456, and did not encounter significant silver mineralization; however, drillhole NV07-628 was drilled to the Southwest from the NV07-456 pad and intersected two zones of mineralization, each measuring 8 metres of thickness and containing 495 g/t Ag in the upper zone and 97g/t Ag in the lower zone.

The current drilling campaign continues to devote one rig to delineation of the Loma de La Plata zone with a second rig dedicated to step-out drilling from known areas of mineralization elsewhere on the property, as well as testing more conceptual targets supported by geophysical and/or geochemical anomalies. Within the first quarter a third rig will be dedicated to metallurgical sampling, geotechnical work, infill drilling, and condemnation drilling in and around the Loma de La Plata deposit.

Aquiline has continued with the quality control program implemented by the previous operator and considers it to be of "best practice" caliber for a systematic sampling program using diamond drill core. All assay work for the released results was carried out by Alex Stewart Laboratories in Mendoza, Argentina. Under the guidelines of the 43-101 National Instrument, the Qualified Person for the Navidad Project is Mr. John J. Chulick who is a registered geologist in the State of California. Mr. Chulick has reviewed the technical content of this release.

FORWARD-LOOKING STATEMENTS

This press release includes certain "forward-looking statements". All statements, expressed or implied, regarding mineralization contained on the Navidad Project are forward-looking statements that involve various risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Aquiline documents filed from time to time with applicable regulatory authorities. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

To view a Map of the Aquiline Resources Inc., Navidad Project, please visit the following link: http://www.ccnmatthews.com/docs/amap0130.pdf.

Contact Information

  • Aquiline Resources Inc.
    Flora Wood
    Vice President, Investor Relations
    (416) 599-4133
    Email: flora@aquiline.com
    or
    Aquiline Resources Inc.
    John J. Chulick
    Vice President of Exploration
    (54-2940) 432-704
    Website: www.Aquiline.com