Aguila American GOLD Secures Cora Copper Project IN Southern Arizona
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AGUILA AMERICAN GOLD SECURES CORA COPPER PROJECT IN SOUTHERN ARIZONA
Vancouver, British Columbia – July 1 5, 2021: Aguila American Gold Limited (“Aguila” or the
“Company”) (TSX-V: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) is pleased to announce it has acquired 100%
ownership through staking, the Cora copper project, located in Pinal County, Arizona. The project was identified
during an extensive and ongoing project generation program targeting copper deposits within mining supportive
jurisdictions of North America.
Aguila is focused on copper and precious metal exploration and development within the major mining belts of the
Western USA. The Company targets under-explored districts where post-mineralization cover masks areas of high
geological prospectivity in the vicinity of major mines.
The Cora project lies 75km NNE of Tucson, within the heart of the southern Arizona copper belt. The project is
100% owned by Aguila, secured by 46 granted BLM lode mining claims covering a total of 3.84 sq km. Many of
North America’s largest copper mines and development projects lie within 100km of Cora, including Ray, Miami,
Resolution, Florence and Silver Bell (see Figure 1). Drilling at Cora was last recorded over 40 years ago, when
significant widths of oxidized copper were intersected beneath shallow alluvial cover over an area exceeding 1
square kilometer.
Key Points
• The Cora copper project lies centrally within the Arizona copper belt, in the vicinity by world class porphyry,
VHMS and skarn type copper projects.
• The project is centered 2km east of the North Star copper mine under shallow cover. North Star was a
producer of copper ore for Miami Copper Co., and ASARCO at Hayden (Arizona) in the mid 1900’s.
• Original exploration company records held by the Geological Survey of Arizona indic ate past drilling at Cora
intersected oxide copper mineralization over widths in excess of 100m, beneath shallow alluvial cover, over
an area of at least 1km by 1km. Intervals include:
o DH5: 99.7m (327ft) @ 0.28% Cu, below 10.7m of alluvial cover (California Steel Co., 1950s)
o DH4: 39.6m (130ft) @ 0.38% Cu, below 47.2m of alluvial cover (California Steel Co., 1950s)
o DH1*: 225.5m (740ft) @ 0.29% Cu, below 42.7m of alluvial cover (California Steel Co., 1950s)
Drilling results are historical in nature and have not been verified by a "qualified person" as defined by National Instrument
43-101. Drill locations are determined from maps with local grid coordinates of the day which cannot converted to modern
coordinates with a high degree of accuracy. Results therefore should not be relied upon and should only be considered
an indication of the mineral potential of the project.
* The locatio n of DH1 is inconsistently recorded, placing it within or immediately adjacent to Aguila claims. Results
therefore should not be relied upon and should only be considered an indication of the mineral potential of the project.
• Exploration in the vicinity of Cora was undertaken from the 1950’s until the 19 70’s, with drilling completed
by California Steel Co., Southwest Mining Co, Magma Copper Co, Essex International Inc and Asarco LLC. No
record of drilling has been located since 19 76 with a vast majority of historical exploration focused on
outcropping mineralization at the adjacent North Star mine.
• Geological logs from holes drilled by Magma Copper Co. immediately west of Cora , indicate copper
mineralization may be associated with highly altered, possible Laramide aged intrusions, consistent with a
potential porphyry copper setting and analogous to many large copper deposits in Arizona.
• Mapping by Magma Copper Co . identified propylitic, argillic and potassic alteration within Laramide-aged
granite and monzonite intrusive rocks to the south of the North Star Mine and west of Cora, along with regular
copper occurrences.
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• Geophysical surveys (gravity, CSAMT) were completed in the vicinity of the North Star mine by Equinox
Exploration Corp in 2010 to map the thickness of cover. Based on this information, thickness of cover is
expected to range between 50m and 100m at Cora.
• Aguila is now compiling historical data and preparing for geochemical sampling and geophysics prior to
drilling. Historical drilling intercepts suggest the project is drill ready.
• Aguila continues to progress its project generation and acquisition strategy for copper and precious metals
in highly prospective mineral belts. The rapidly growing demand for copper due to the accelerating uptake of
electric vehicles and the supporting infrastructure, aligned with the growing uncertainty of sustainable ethical
supply, makes US targets a high priority.
“The newly staked Cora project represents an exciting first step for Aguila into copper exploration in the Western
US”, commented Mark Saxon, President & CEO of Aguila American Gold Limited. “We have been progressively
and patiently assessing projects, and Cora stands out as a significant copper prospect in one of the world ’s
premier copper producing regions. The timing could not be better, as secure global copper supplies are tightening,
coinciding with strong demand growth as a result of a global infrastructure, electrification and renewable energy
boom. We look forward to applying modern exploration techniques to this under explored district.”
The Cora copper project is located in Pinal County, Arizona, approximately 20km southwest of Florence and 75
km NNW of Tucson. Pinal County is a prolific copper producing region and is host to several large, world class
copper mines and deposits including Ray, San Manuel, Silver Bell, Mission, Resolution and Miami (1.6 Bt @ 0.63%
Cu). The project is accessible by Interstate 10 to the West and highway 79 to the East with power and rail way
access nearby.
Figure 1: Regional location map for the Cora copper project with major copper deposits.
The claims held by Aguila cover the flat lying pediment to the east of and adjoining the historic North Star copper
mine. Widely spaced scout drilling during the 1950’s within the area secured by Aguila is reported to have
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intersected significant widths of oxide copper mineralization beneath shallow cover (11m to 70m). Mineralization
was encountered across an area of approximately 1km by 1km.
Past exploration was predominantly focused on the fault -hosted North Star copper mine. Drilling identified a
significant zone of structu rally controlled copper oxide mineralization that extends below cover into the ground
held by Aguila. Early explorers interpreted mineralization to be associated within detachment faults, however, a
review of all available historical data by Aguila indicates a possible porphyry copper-molybdenum association.
The Aguila review noted:
• Diamond drill logs from Magma Copper Co. describe altered intrusive rocks (monzonite, diorite, latite porphyry)
throughout several drill holes, with alteration described as argillic in nature, more consistent with a porphyry copper
setting;
• The lack of reported specular hematite associated with mineralization is inconsistent with a detachment fault model
as this is a very common accessory mineral in detachment fault hosted deposits in Arizona and Nevada;
• The local presence of Laramide aged intrusions, whi ch are associated with all major porphyry copper deposits in
Arizona; and
• The structural association with local porphyry deposits and intrusions;
Porphyry copper systems within Arizona are often subjected to significant post-mineral faulting and dismembering
with characteristic re -mobilization of copper fluids along post -mineral faults. In this context, the structurally
controlled North Star mine adjacent to the widespread copper oxide mineralization and altered intrusive rocks of
the Cora project are suggestive of a shallow buried porphyry copper target.
Figure 2: Cora copper project showing claims staked by Aguila (in yellow) and area where historical drilling has reported copper oxide
mineralisation beneath shallow cover (hatching).
Technical Background
The Company has obtained historic exploration data for this press release from the Geological Survey of Arizona.
Although historic exploration data was generated by reputable companies applying practice of the day , Aguila
cannot verify the data or determine the quality assurance and quality control measures applied in generating the
data. Furthermore, there is no guarantee that the exploration history is fully captured. Additio nal drilling may
1 km
Florence – 22km
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have been undertaken, however the Company has not been made aware of or obtained additional data.
Accordingly, the Company cautions that the exploration data reported in this news release may not be reliable.
Readers are cautioned that a " qualified person" as defined by National Instrument 43 -101 has not completed
sufficient work to be able to verify the historical information, and therefore the information should not be relied
upon.
The qualified person for the Company's projects, Mr. Mar k Saxon, the Company’s Chief 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.
About Aguila American Gold Ltd (TSX.v: AGL) (OTC: AGLAF) (WKN: A2DR6E)
Aguila American Gold is an emerging copper and precious metal company enhancing shareholder value through
exploration and discovery.
ON BEHALF OF THE BOARD,
“Mark Saxon”
Mark Saxon
President & CEO
For further information, please contact:
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 defined 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 similar 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 Company 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, th ey can give no assurance that those expectations will prove to have 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 deci sions, investors and
others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to update any forward -looking statements, except as m ay be
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