Aguila American Gold Limited (TSXV:AGL)

Mining

Aguila American Gold Limited engages in the acquisition, development and exploration of gold, silver, and copper mining properties in Canada.

The company claims to deliver long term returns for the shareholders. It primarily explores WUSA Gold Project. In 2020, the mining company announced a joint venture agreement with the USA’s most prominent private landholder, Mawson Gold Ltd, exploring WUSA Epithermal Gold Project located in the Western Cascades, Oregon, USA. The joint venture project covers 150,000 hectares.

The company finished a C$2.68m financing through the accomplishment of the WUSA Gold Project. According to the joint venture agreement, the mining firm has right to earn 80 per cent interest in the property.

Mawson Gold Ltd acquired the WUSA project through its wholly owned subsidiary M2 Resources Corp, which wholly owns Mawson Resources USA Inc.

Other than WUSA Gold Project, the company explores Scorpion-Cinnabar Prospect, Walker Creek Prospect and the Huckleberry Prospect in the area.

WUSA Gold Project

Aguila acquired forestry land that covers 70,000 hectares in the Oregons’ western cascade ranges that hosts low and high sulfidation and epithermal gold deposits.

This project consists of numerous sites that offer sulfidation epithermal gold deposits and mineralization, including Black Butte & Bonanza, Hobart Butte, Quartz Mountain, Bohemia and Bornite, Margaret.

Scorpion-Cinnabar Prospect

The property is located approximately two kilometer in the southwestern WUSA Gold Project area. Rock chip sampling and soil sampling at the project were completed by Mawson Gold Ltd.

In 2018, the company drilled one hole at this prospect, namely SDH001-18 (282 m). Two deposits were bisected in SDH001-18 (282 m), including the Upper sulphide-rich breccia zone and lower stockwork zone. The upper mineralized zone consists of a high level of epithermal, including antimony, zinc, lead, and copper deposits. However, the lower mineralized zone consists of arsenic, antimony, copper and gold deposit.

Walker Creek Prospect

The company explored this prospect located to WUSA’s southeast in between 1980s to 1990s.

It comprises layered basaltic/rhyolitic volcanic rocks connected with an Oligocene-Miocene age, surface sampling, mapping and ten drill holes. The company claims that high-grade gold with antimony, silver and mercury deposits were also detected.

Eight holes were intersected at Walker Creek prospect, including WC-190, WC-290, WC-390 and WC-890, WC-590, WC-690, and WC-790, it further claims.

Huckleberry Prospect

In 2018 Mawson Gold Ltd, a joint venture company, initiated drilling program at this prospect located to WUSA Gold’s southeast. Additionally, further two drill holes HDH001-18 and HDH003-18 were completed by Mawson Gold Ltd in 2018. Various elements such as sulfur, arsenic, antimony, tellurium, selenium, bismuth, and molybdenum prospects.