Aguila American GOLD Announces Completion of First Hole at Wusa GOLD Project
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AGUILA AMERICAN GOLD ANNOUNCES COMPLETION OF FIRST HOLE AT WUSA GOLD
PROJECT
Vancouver, British Columbia – November 25, 2020: Aguila American Gold Limited (“Aguila” or
the “Company”) (TSX-V: AGL) (WKN: A2DR6E) is pleased to announce completion of the first drill hole
at the WUSA project in Oregon, USA. The drill program now underway is the first undertaken by Aguila at the
project and represents a significant milestone for the Company following closing of a recent $2.65 million
financing.
Drill holes are testing the Scorpion-Cinnabar prospect, with the first hole sighted in the southern part of a
2.2 km long and up to 400-metre-wide gold and arsenic in soil geochemical anomaly. The anomaly was defined
within a survey of more than 1200 soil samples collected across highly acid altered volcanic and volcaniclastic
rocks.
The Scorpion-Cinnabar prospect lies immediately south of the historic Black Butte epithermal mercury mine.
An association with mercury is very common with epithermal gold mineralization, where the mercury-rich zone
lies at the uppermost portion of the mineralized system corresponding to where volcanic-sourced hydrothermal
fluids mixed with groundwater or vented as hot springs. Gold typically lies at depth o r along strike from the
mercury enriched zone.
“Getting drilling underway at WUSA is a great achievement for Aguila, and we are very pleased to see core
coming out of the ground” said Mr. Mark Saxon, President and CEO . “The drilling contractor is making rapid
and safe progress, and we are looking forward to a quick and successful program. Aguila is strongly placed to
achieve our exploration goals both at WUSA and other precious metal opportunities that our team identifies .”
The Scorpion-Cinnabar prospect was discovered by the surface landholder in 2015 and has since been
tested with one drill hole. Hole SDH-001-18 intersected two mineralized intervals including 0.6 metres @ 3.25
g/t Au, 27.3 g/t Ag, 6680 ppm As, 485 ppm Sb, 2.8 ppm Te from 21.3 metres . The strong alteration and
association with low sulphidation epithermal pathfinder elements is highly encouraging and supports additional
drill testing. Drill sites constructed and permitted enable drill testing across approximately 1.8km of strike
length.
As announced 28th September 2020, Aguila closed a CDN $2.65m financing and received regulatory acceptance
to an option agreement to acquire up to 80% of the WUSA Gold Project located within the Western Cascades,
Oregon, USA. An NI43-101 Technical Report completed by independent consulting geologist Mr . John Rice
entitled “ Technical Report For The W USA Gold Project, Lane And Douglas Counties, Oregon, USA” (the
“Technical Report”) is available on the Company website and at www.sedar.com.
The Technical Report highlights the opportunity for discovery at the WUSA Gold Project , which covers
approximately 70,000 ha. The area has seen very little modern exploration, as the land and mineral rights
have been held by a single landholder for more than 150 years over which time mineral rights have never
been optioned to third parties.
The Cascade Range in Oregon is un derlain by Eocene to Holocene intermediate to felsic volcanic and
volcaniclastics rocks erupted along the western margin of North America. Immediately adjacent to the WUSA
project lies a well -mineralized district containing multiple mineral deposits includ ing polymetallic veins
(Bohemia, a gold -rush mining area discovered in 1858) and historic hot -spring style mercury mines. Placer
gold mining is still active within the area.
The qualified person for the Company's projects, Mr. Mark Saxon, the Company’s Chi ef Executive Officer, a
Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of
Geoscientists, has reviewed and verified the contents of this release.
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About Aguila American Gold Ltd (TSX.v: AGL) (WKN: A2DR6E)
Aguila American Gold is an emerging gold company enhancing shareholder value through exploration and
discovery.
ON BEHALF OF THE BOARD,
“Mark Saxon”
Mark Saxon
President & CEO
For further information, please contact:
www.aguila.gold
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is de fined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking statements are
often, but not always, identified by the use of words such as "seek", "anticipate”, "plan", "continue”, "estimate”, "expect",
"may”, "will", "intend", "could", "might", "should", "believe" and sim ilar expressions. Forward-looking statements are
based upon the opinions and expectations of management of the Company as at the effective date of such statements and,
in certain cases, information provided or disseminated by third parties. Although the Co mpany believes that the
expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information
obtained from third party sources is reliable, they can give no assurance that those expectations will prove to ha ve been
correct. Readers are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially
from results contemplated by the forward -looking statements. Accordingly, the actual events may differ materially from
those projected in the forward -looking statements. When relying on forward -looking statements to make decisions,
investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue
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except as may be required by applicable securities laws.